News

[South Africa] CyberLogic trains eyes on expansion following successful acquisition

01-05-2017 | 13:53:12
Cape Town-based IT services firm CyberLogic is set to refresh its brand, expand its footprint and take new services to market in 2017, following its successful acquisition of Stellenbosch-based IT services firm Space Age Technologies last year.


[Ethiopia] UAE markets express appetite for meat from modern abattoir

01-05-2017 | 13:50:07
A modern slaughterhouse built in Jigjiga town, Ethiopian Somali regional state, has begun exporting meat to the United Arab Emirates (UAE).


Value of POS Transactions in Nigeria Hits N651bn

01-05-2017 | 11:02:25
The value of transactions through point of sales (PoS) channels across the country increased significantly by 65 per cent to N651.37 billion between Janaury and November 2016, compared with the N395.05 billion recorded in the corresponding period of 2015.


[Nigeria] UBA Empowers MSMEs with Masterpass QR Payment

01-05-2017 | 10:41:12
The United Bank for Africa (UBA) 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.


Dr. Kenneth Tarus appointed acting CEO and Managing Director of Kenya Power

01-05-2017 | 10:38:00
Kenya’s power distributor Kenya Power has appointed Dr. Kenneth Tarus as its acting Managing Director and CEO. He replaces Dr. Ben Chumo who has been at the helm since 2014 and is exiting after attaining the government’s mandatory retirement age of 60 years.


[Nigeria] Keystone Bank chooses NetGuardians for real-time protection against e-banking fraud

01-05-2017 | 10:33:25
Swiss FinTech leader NetGuardians has been selected by Nigeria’s Keystone Bank Limited for real-time protection against eBanking fraud.


Reserve Bank of Malawi projects 5.6 per cent economic growth on robust agricultural sector

01-05-2017 | 10:29:51
The Reserve Bank of Malawi has expressed optimism that the economy will rebound in 2017, predicting domestic economic activity to grow by 5.6 per cent.


[Kenya] Fidelity Bank Board approves Mauritian group takeover bid

01-05-2017 | 10:21:59
The Fidelity Commercial Bank Ltd board of directors has approved a deal to sell the lender to Mauritian financial services group SBM Holdings.


[Morocco] Central Bank gives nod to five Muslim banks to start operations

01-05-2017 | 10:16:06
Morocco’s Central Bank has approved five requests to open participative banks and allowed three banks to sell participative products in the northern African country.


[Tanzania] Ophir Energy confirms timely completion of two exploration wells drilling

01-05-2017 | 10:10:31
London listed firm Ophir Energy, with its local venture partners BG Tanzania, Shell and Pavilion have announced the completion of drilling of two exploration wells offshore Tanzania well within set timelines.


Uganda speeds visa issuance, strengthens border security with Gemalto Visa Management System

01-05-2017 | 09:58:00
Gemalto is supplying Uganda's Directorate of Citizenship and Immigration Control (DCIC) with its Coesys Visa Management that combines swift issuance of all visas and permits with biometric enrollment upon arrival.


[Nigeria] New e-payment pricing policy coming

01-05-2017 | 09:40:28
The Central Bank of Nigeria (CBN) has deregulated the Merchant Service Charge (MSC) and will be implementing a new pricing regime on electronic transactions by the second quarter of this year.


[Nigeria] Oando PLC Completes $115.8mn Gas and Power Partial Divestment to Helios Investment Partners

01-03-2017 | 11:46:00
Indigenous energy group, Oando, has announced the completion of a partial divestment of 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power Limited, to Glover Gas & Power B.V., a special purpose vehicle owned by Helios Investment Partner.


Nigerian fintech scene shows record expansion

01-03-2017 | 11:19:00
Africa has caught the world’s attention with its advancements in the financial technology (fintech) space and usage of mobile money. The Nigerian fintech landscape, specifically, has the ability to become one of the most significant leaders in Africa’s innovation.


[Kenya] Barclays, China UnionPay partner in automated card and payment services

01-03-2017 | 11:11:00
Barclays Bank of Kenya has launched a partnership with China UnionPay, which will allow UnionPay cardholders to transact at Barclays’ ATMs and point-of-sale devices across the country.


South Africa growth weak, but stronger than 2016

01-03-2017 | 10:55:00
South African asset prices should perform "ok", but mainly because there are more negative peers to compare to - especially Turkey - emerging markets economist Peter Attard Montalto of Nomura said on Thursday.


Orange to pay Telecom Egypt LE49mn for Connecting Israeli Phone Calls

01-03-2017 | 10:47:01
The Economic Court in Egypt issued, on Sunday, a provision requiring Orange Egypt to pay LE49.1 million to the Telecom Egypt (TE) company, in compensation for the losses incurred by TE as a result of Orange connecting calls to Israel.


[Nigeria] Government begins monthly payment of N5,000 to one million Nigerians

01-03-2017 | 10:35:07
The Federal Government has began payment of N5,000 monthly stipends to poor Nigerians in nine states. The Programme is part of the Conditional Cash Transfer (CCT) of the President Muhammadu Buhari’s administration’s Social Investment Programmes (SIP) for which N500 billion was appropriated in the 2016 Budget.


More revenue for Nigeria, others as oil production cut begins - OPEC

01-02-2017 | 12:34:00
The agreement by the oil producing nations to cut about 2 million barrels of crude oil off the market commenced yesterday giving hopes for commodity-reliant nations like Nigeria of more revenue in 2017.


Malawi Launches Humanitarian Drone Testing Center

01-02-2017 | 12:30:40
Malawi has launched a testing center for humanitarian drones. The project is intended to explore the best ways to use drones to transport medicine and blood samples.