News

Qatar International Islamic Bank receives nod to operate in Morocco

01-11-2017 | 10:35:39
Gulf’s third largest Islamic bank, Qatar International Islamic bank has received a nod to start operation in Morocco.


Kenya Airways to lay off 38 staff in restructuring move

01-11-2017 | 10:29:11
Kenya’s national carrier Kenya Airways has announced plans to lay off 38 staff members as part of its second phase of right sizing.


[Ghana] Solomon Lartey appointed CEO Activa International Insurance

01-11-2017 | 10:22:48
Solom Lartey has been appointed the new Managing Director and Chief Executive Officer of Activa International Insurance.


[South Sudan] Government extends oil exploration agreement for three multinationals by five years

01-11-2017 | 10:20:06
The government of South Sudan through the Ministry of petroleum has extended the oil exploration and production licenses by five years for three multinational companies as it seeks to boost production.


Nokia and Ooredoo Algeria achieve transmission rate of 1TPS in Africa’s first field trial of new optical technology

01-10-2017 | 11:30:00
Working in partnership, Ooredoo Algeria and Nokia have successfully achieved a ground-breaking transmission speed of 1.2 terabits per second over optical fibre in Africa’s first field trial of innovative optical communications technology.


[Nigeria] UBA launches first merchant app for MSMEs

01-10-2017 | 11:00:00
United Bank of Africa has introduced its first merchant-focused app in Africa with the aim of creating a SMART (secure, mobile, accessible, reliable, transparent) network of 100,000 micro merchants and driving financial inclusion.


[Nigeria] First Bank increases mobile app transfer limit to N1m

01-10-2017 | 10:30:00
First Bank of Nigeria Limited has increased transfer transaction limits on its FirstMobile Lifestyle app from N500,000 to a maximum daily limit of N1 million.


[South Africa] Oil Trader Gunvor Suing Cerberus Over Failed Chevron Bid

01-10-2017 | 10:23:00
Oil trader Gunvor Group is suing Cerberus Capital Management, alleging that the private-equity firm is refusing to pay its share of costs incurred when the two companies made a failed $650 million bid for Chevron Corp. assets in South Africa.


Kenya considers producing oil from coal to cut imports

01-10-2017 | 10:14:00
Kenya is considering converting a portion of its coal deposits to oil as part of measures to cushion the economy from the volatile fuel import market.


[Egypt] Chad Ratifies Afreximbank Establishment Agreement

01-10-2017 | 09:59:02
President Idriss Deby Itno of Chad, has ratified the Agreement on the Establishment of the African Export-Import Bank (Afreximbank), concluding the formalisation of the country’s membership of the continental trade finance bank.


Data Science Nigeria holds e-Learning bootcamp for young scientists

01-10-2017 | 09:27:24
Data Science Nigeria will host a learning bootcamp for young data scientists in an aim to address the capacity gaps in Data science for beginners, intermediate and experts.


Priority Women’s Land Rights Initiatives to be Launched at Convening in Ghana

01-10-2017 | 09:15:00
The Women’s Land Rights Visiting Professionals Program (VPP) will host a one-day regional convening to launch priority advocacy initiatives supporting the African Union Member States’ commitment to achieve a target of 30 percent women’s joint or individual ownership of land in Africa by 2025.


Investments in telecoms hit $68bn in Nigeria

01-10-2017 | 07:30:00
Despite what looks like economic downturn, investments in the fast growing telecommunications sector have been put at $68b as at July, 2016. Of this figure, $35 billion comes from Foreign Direct Investments (FDIs).


European Investment Bank confirms $97 million support for East African entrepreneurs in 2016

01-09-2017 | 16:40:16
European Union lending arm, the European Investment Bank has confirmed that it lent $97 million to support investment by companies across East Africa in 2016.


[Zimbabwe] George Manyanya appointed NetOne Public Relations and Special Projects Executive

01-09-2017 | 16:38:39
Zimbabwe's second largest mobile-telecommunication company by subscribers, NetOne has appointed George Manyaya as its Public Relations and Special Projects Executive.


[Ghana] UT Bank resumes trading at the bourse after hiatus

01-09-2017 | 16:24:00
UT Bank has resumed trading at the Ghana Stock Exchange following a temporary halt. The bank trading activities was halted by the Ghana Stock Exchange after UT failed to publish its quarterly audited accounts to shareholders


Ingenico Group partners Interswitch to deliver best-in-class multichannel payment solutions to the Nigeria

01-09-2017 | 15:34:00
Ingenico Group, leader in seamless payment, announced that a strategic partnership has been signed with Interswitch Nigeria Limited, the leading transaction switching and electronic payment processing company in Nigeria.


[Algeria] Marriott International extends footprint in Algeria with new hotel

01-09-2017 | 13:29:26
Diversified hospitality company Marriott International, Inc has announced further expansion in Algeria with the opening of its seventh hotel in Algeria, Sheraton Annaba.


SEFA to support Tanzania in establishing a Renewable Energy Investment Facility to finance rural energy access projects

01-09-2017 | 11:29:00
The African Development Bank-hosted Sustainable Energy Fund for Africa (SEFA) approved a US $870,000 preparation grant for Tanzania’s the Rural Energy Agency (REA) to structure the Renewable Energy Investment Facility.


Telkom Kenya makes management changes to align business with transformation agenda

01-09-2017 | 11:18:27
Telecommunication company Telkom Kenya has made a raft of changes in its management as part of a broader strategy to strengthen the telcos’ operational and service excellence, drive ongoing growth and technological leadership while aligning the business with its transformation agenda.