It’s undeniable that the Russian invasion of Ukraine proved highly disruptive to world energy markets. This geopolitical clash led to the imposition of Western sanctions on the export of Russian oil and fuel and the imposition of a price cap on Russian crude by the G7 group.
African Development Bank announces $1 billion insurance facility to protect millions of farmers in Africa
Adesina said the Africa Climate Risk Insurance Facility for Adaptation (ACRIFA) aims to mobilise $1 billion of concessionary financing, high-risk capital and grants to support the African insurance industry.
This funding is meant to drive a comprehensive and affordable transition to renewable energy in developing countries.
They will also receive a comprehensive mentorship and coaching as part of a 12-month accelerator program. Since its launch in 2021, the YouthADAPT initiative has provided more than $5 million to 33 young entrepreneurs from 19 African nations.
Mastercard has partnered with South African Bidvest Bank to provide a solution that allows customers to send international remittances at their convenience.
The pace of change in the technology sector has always been brisk, as demonstrated by the rapid development and massive innovation that occurred in 2023. As we prepare for 2024, it's clear that developments in IT will continue to reshape the business world.
Sophos has released two reports about the use of AI in cybercrime. The first report demonstrates how, in the future, scammers could leverage technology like ChatGPT to conduct fraud on a massive scale with minimal technical skills.
NoOnes, the financial communication super app connecting people of the Global South to the world’s financial systems has appointed ex-Paxful boss Ray Youssef as CEO
[South Africa] Startupbootcamp AfriTech launches investment syndicate to connect startups with mentors
Startupbootcamp AfriTech has unveiled an investment syndicate to transform the tech ecosystem through value addition and resource allocation.
Driven by an increase in local data centres and the availability of cloud computing platforms, organisations in Kenya are some of the biggest cloud spenders in Africa.
New agriculture and agri-business climate finance to support farmers and agri-businesses prepare for extreme weather, increased drought and increased rains.
Global Green Bond Initiative fait équipe avec BAD pour renforcer les marchés d’obligations vertes en Afrique
Le Groupe de la Banque africaine de développement a signé un accord de partenariat conjoint avec la coalition d’institutions de financement du développement de la Global Green Bond Initiative pour une collaboration en matière d’assistance technique.
In a powerful signal of support during COP28, African and global institutions together with governments of Germany, France and Japan and philanthropies have pledged over $175 million to the Alliance for Green Infrastructure in Africa (AGIA).
Climate change stands as a threat to the foundations of our global food systems, unrivalled in its scope and impact. Today, soaring temperatures, shifting weather patterns, and extreme weather are adversely affecting our ability to feed ourselves, demanding urgent solutions.
The African Development Bank has revised its short to medium-term macroeconomic forecast for Africa, for 2023 and 2024 downwards to 3.4% and 3.8%, from 4.0% and 4.3%.
The research – based on investor interest from a survey of 1,800 respondents – identifies a wider USD8.2 trillion of retail capital potential in sustainable investing and shows that climate investing is gaining traction.
Digital payments fitm Visa has announced the launch of its Global AI Advisory Services Practice. The new value-added service will be offered by Visa Consulting & Analytics (VCA), the payments consulting advisory arm of Visa.
Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned by Kaspersky has found.
The African Development Bank will mobilize financing for climate action at this year’s UN Climate Change Conference, COP28, and amplify Africa’s calls for robust commitments by wealthy countries to meet the continent’s urgent needs in addressing climate change.
IBM continues to advance its AI model strategy in part through the creation, training, fine-tuning and open-sourcing of foundation models – models that can be used for different tasks and apply information from one situation to another – designed for domains beyond natural language, including geospatial applications.
Project East to West aims to link landlocked African countries with an extensive terrestrial fibre optic network. This partnership recognises the vital role of pan-African collaboration in constructing telecommunication highways, essential to meet the surging demand and need for affordable connectivity solutions in Africa.
BT today announced it is rolling out its transformational Global Fabric network-as-a-service (NaaS) in strategic Digital Realty carrier neutral facilities (CNFs) around the world.
Africa’s commodities player, AFEX, has launched Africa Exchange, a digital platform for trading commodities. The platform follows AFEX’s first foray into digital commodities trading with the launch of ComX in 2020.
Head and Heart Philanthropy – the philanthropic arm of Mosaic Genius has launched Mosaic Genius Tech Studio, a new accelerator program targeting entrepreneurs in Africa.
Fuse Network has unveiled a $10 million grant program to support businesses by providing essential funding and infrastructure for streamlined access to Web3 payment systems
ARCH Cold Chain Solutions received funding from a range of financial institutions, including development finance institutions such as the European Investment Bank, which provided $15 million.
Somalia was admitted into the East African Community (EAC) on Friday Novermber24, 2023 the eighth member of the bloc as it seeks to expand free trade across the region.
Grey, a cross-border fintech company, has embarked on a significant global brand rebranding initiative, revealing a fresh logo and website design. This strategic move aligns with the company’s dynamic plans to expand its footprint in the global market.
IFC invests in New Apis Fund to support mid-cap companies and improve financial inclusion across Africa and Asia
IFC has announced an investment in a new fund by Apis Partners LLP, a private equity firm, to help innovative mid-cap financial service providers expand and boost financial inclusion among individuals and micro, small, and medium-sized enterprises across Africa, South Asia, and Southeast Asia.
Unveiled on the sidelines of the Africa Tech Festival held in Cape Town, South Africa, this collaboration paves the way for a series of dialogues on how U.S. digital innovation can support development goals across Africa.
The Phoenix solution marks a significant step forward in the telecom industry, with the potential to revolutionise networking and connectivity across Africa and beyond
Cloud-native solutions provider Deimos on Monday announced the launch of Deimos Managed Infrastructure (DMI), The company says DMI is a solution that promises to transform the way businesses manage their cloud infrastructure.
IMAP began in 1973 in the US, initially under the name NAMAC (National Association of Merger and Acquisition Consultants). In order to reach new markets and create opportunities for its clients, it started recruiting top M&A advisory firms outside the US, and rebranded IMAP, standing for the International M&A Partnership.
Canada and African Development Bank Climate Fund approves $36.3 million in support to climate adaptation
The Canada–African Development Bank Climate Fund (CACF), established to support gender-affirmative climate change projects in Africa, has approved $36.3 million to two private sector operations to advance climate adaptation in the African continent.
Positive regulation has emerged as the linchpin that can propel the industry's growth while safeguarding the interests of all stakeholders. There are a myriad of reasons why embracing positive regulation is vital for Kenya's ride-hailing industry:
VFS Global, the world’s largest outsourcing and technology services specialist for governments and diplomatic missions, appointed Jose Manuel Aisa Mancho as its Chief Financial Officer (CFO).
Five thousand three hundred (5,300) small and medium-sized businesses (SMBs) from across South Africa, Kenya, and Nigeria have graduated from Google’s Hustle Academy.
Africa Healthcare Network (AHN) secures $20 Million in funding led by Africa50 and AfricInvest for a continent-wide expansion.
IFC et KERA Health Platforms ont annoncé un partenariat pour enrichir l'écosystème de soins de santé
IFC et KERA Health Platforms ont annoncé un partenariat qui permettra de connecter et d'enrichir l'écosystème de soins de santé grâce à des services utilisant l'intelligence artificielle (IA).
Huawei has announced it has already brought connectivity to 90 million people in remote regions in nearly 80 countries following its pledge to the International Telecommunication Union's (ITU) Partner2Connect (P2C) Digital Coalition.
PepsiCo's PAO Accelerator offers local farming communities co-investment to accelerate diverse and results-driven Positive Agriculture projects, as well as funding for ag-tech start-ups that offer proven products or technology with the potential to scale.
This solution has successfully passed the GSMA's eSIM product filing audit, establishing Tongxin Micro as China's first and the world's foremost provider of eSIM solutions for mobile terminals.
[Free Webinar] Unlocking Success in New Markets: Cross-Border Payments Strategies for South African Businesses
Embark on a journey through the dynamic realm of international finance with our upcoming webinar, where we unravel the intricacies of global payment strategies essential for triumph in the finance sector.
RedSea, the sustainable Agri Climate Tech business whose pioneering technology advances commercial farming in hot climates globally has appointed Bruno De Oliveira as VP East Africa & Egypt.
L’objectif de cette acquisition est de créer un groupe pharmaceutique diversifié au Maroc et en Afrique, construit autour de pôles spécialisés et compleméntaires.
Mediterrania Capital Partners welcomes Bpifrance to the MC IV fund consolidating 10 years of collaboration in support of African companies.
At a recent press conference in Johannesburg, Kaspersky shared some insights and statistics related to the regional threat landscape in the third quarter of 2023 and made forecasts on how the situation is going to develop in 2024.
As the likes of artificial intelligence (AI) and the Internet of Things (IoT) integrate into business operations, companies are becoming more reliant than ever on the cloud.
[Column] Christopher Sau: Plugging Kenya’s brain drain: Unlocking the value of training and IT talent retention
As Kenyan enterprises continue to transform and invest in enterprise IT and digital technologies, there is high demand for the skills and talent needed to sustain that transformation.
The Africa Startup Law Accelerator seeks to accelerate the business growth, legal setup and compliance, operational capacity and impact of startups working on legal-tech and justice innovations.
The Africa Fertilizer Financing Mechanism will provide a $2 million partial trade credit guarantee and a $219,000 grant funding to Nairobi-based Apollo Agriculture Limited to support the distribution of over 7,000 tonnes of fertilizers to some 100,000 smallholder farmers in Kenya.
The Burundi Better Coffee Initiative, "Ikawa Nziza mu Burundi”, will benefit over 50,000 coffee farmers in Burundi over the next five years by focusing on improving quality and climate resilience.
Access to Finance Rwanda, ConsumerCentriX,and Partners announce winners of SME Response Clinic Business Awards
Access to Finance Rwanda and ConsumerCentriX today announced the winners of the inaugural SME Response Clinic Business Awards following the Twiteze Imbere campaign to recognize the role of small businesses in Rwanda’s road to recovery from the COVID-19 pandemic.
Afreximbank awarded “Sustainable Deal of the Year” for pioneering the Liquidity and Sustainability Facility
The African Export-Import Bank (Afreximbank) has been recognised with a much-coveted “Sustainable Deal of the Year” award for its pioneering work in the establishment and development of the Liquidity and Sustainability Facility (LSF), a vehicle that seeks to increase liquidity and demand for Eurobonds issued by African Sovereigns.
The chaos certainly was felt in the oil industry, which saw record distortions during the pandemic era, especially during its first few months.
Intense, urgent demand for artificial intelligence (AI) capabilities – and the duelling pressure to reduce energy consumption, costs and greenhouse gas emissions – loom large over the data centre industry heading into 2024.
Called the Ready for RISE on AWS bundle, it combines SoftwareOne’s deep SAP advisory and implementation knowledge with AWS technologies to expedite a client’s SAP transformation journey.
Dhamana will be domiciled in Kenya as a limited liability company with a regional mandate to provide credit guarantees on debt capital market instruments.
Chapel Hill Denham’s Nigeria Infrastructure Debt Fund has agreed to provide long-term financing to Tizeti Network Limited, West Africa’s pioneer solar-based internet service provider.
Becoming a surgeon in The Gambia was not without challenges. With no medical school in our country at the time, I pursued education elsewhere. Armed with newfound knowledge and expertise, I returned to the country to make a positive impact on healthcare.
The proposed T. Rowe Price Emerging Markets Blue Economy Bond Strategy (T. Rowe Price Blue) is expected to mobilize international capital from eligible investors to support blue-labeled investments in emerging markets globally.
With a worldwide community of over 551 million monthly active listeners, including 220 million subscribers, Spotify provides a wide range of African and international artists with a library including over 82 million tracks.
Schneider Electric, a player in the digital transformation of energy management and automation, is harnessing the capabilities of Generative artificial intelligence (GenAI) to empower customers and transform its internal operations.
FSD accorde environ 2 milliards de riyals de prêts pour soutenir des projets de développement en Afrique
Le Fonds saoudien pour le développement accorde environ 2 milliards de riyals de prêts concessionnels pour soutenir des projets de développement en Afrique.
Additional investment of more than Ksh 10 trillion, (USD 100 billion) in internet infrastructure, policies and ecosystems is necessary to raise the degree of digital access in Kenya and across Africa.
The Dubai Integrated Economic Zones Authority (DIEZ) has announced the launch of a venture capital (VC) fund worth US$136 million to invest in tech startups.
They are applicable not just to ChatGPT, but to conversational AI and other AI applications like generative AI. All this reinforces the importance of data quality across the spectrum of AI technologies,” concludes Conradie.
Global Tier 1 service provider CMC Networks has partnered with German network solution provider aconnic to bring network function virtualization (NFV) to service providers across Africa and the Middle East.
Epson's Regional Head for East and West Africa Mukesh Bector says Epson views technology as an enabler, with products that are designed to use fewer resources in production, last for longer, are more easily repairable, can be re-used and are more easily recycled.
Stepping up their support for African partner countries ahead of the crucial COP28 climate change conference, the Arab Coordination Group (ACG) announced today that it aims to allocate up to US$50 billion to help build resilient infrastructure and inclusive societies in the African continent.
Bolt has today announced the appointment of Ms Caroline Wanjihia as Regional Director for its Ridehailing Operations in Africa and International Markets (Middle East, Asia and LATAM).
Plus de 1000 leaders financiers, décideurs politiques et régulateurs sont réunis pour relever des défis majeurs et créer une industrie financière de classe mondiale.
Afreximbank Avails UBA $150m Trade Finance Facility to Cushion Effect of Ukraine War on Customers.
The African Export-Import Bank (Afreximbank) today in Cairo launched an African Gastronomy and Culinary Arts Programme under its Creative Africa Nexus Initiative (CANEX).
Ecobank et African Guarantee Fund signent un accord de partage des risques de 200 millions de dollars
L'accord de partage de risque de 200 millions USD marque le troisième renouvellement du partenariat entre Ecobank et AGF.
Ransomware attacks are rapidly posing a greater threat due to the availability of RaaS solutions on the dark web.
The two organisations signed a strategic partnership agreement today on the sidelines of the Africa Financial Industry Summit (AFIS) in Lomé, Togo, in the presence of their respective leaders.
Motorola Solutions, traditionally known for public safety communications, has invested about $12B in organic R&D and acquisitions over the past nine years to create a robust technology portfolio.
Over a third (38%) say they cannot make further investments in decarbonization in the current economic environment, according to new research from Accenture.
Vodacom Group continues to grow its pan-African customer base of 196.2 million people through finding innovative ways to keep customers connected via land, sky and sea.
Telco operators in Africa have a real opportunity to boost revenue and customer growth by expediting the deployment of eSims. But first they’ll need to navigate the nuances of local markets respectively, and optimise their processes.
inDrive, a global mobility and urban services platform, has announced the launch of a new venture and M&A arm aiming to invest up to $100 million in promising startups.
Visa announced it has exceeded its three-year goal of digitally enabling 50 million SMBs globally by June 2023 and has now helped nearly 67 million SMBs.
Afreximbank launches Intra-African EPC Contract Promotion Programme as IATF2023 hosts Presidential Summit
The African Export-Import Bank (Afreximbank) in Cairo launched a new initiative that will open doors, allowing African contractors to capitalize on various infrastructure investments available across the continent.
In a strategic move to strengthen its existing footprint in the vibrant African startup ecosystem, Flat6Labs, the seed venture capital firm in the MENA (Middle East and North Africa) region, has appointed Christine Namara as Partner for its Africa Seed Fund.
Join us for an exclusive event launch, as we unveil Verto Atlas, the financial powerhouse for large corporations and enterprises in Kenya, hosted by Verto on Thursday 23rd November.
[Column] Michael Muhangi: Africa’s continental integration offers opportunities for cross-border expansion
With the gradual elimination of political, economic, and regulatory barriers has come a need for financial institutions to adopt a strong trans-regional focus.
With the Azure software-defined networking enhancements for ANF, customers can bring their enterprise security architectures into the public cloud.
Yellow Card has become the first fintech on the continent to launch PayPal USD (PYUSD). This new stablecoin fromPayPal, issued by Paxos, will open new horizons for digital financial transactions between Africa and the United States.
Les Market Days 2023 de l’Africa Investment Forum (AIF) ont suscité 34,82 milliards de dollars d’intérêts d’investissement pour des projets dans les infrastructures, l’agriculture, les soins de santé et les industries créatives.
Africa Finance Corporation (AFC), the continent’s leading infrastructure financier and solutions provider announced its support to the Arab Republic of Egypt as a Re-Guarantor on a private placement offering of JPY 75 billion, 5-year, Samurai bonds.
Africa Mobile Networks (AMN) announces the agreement with Starlink to connect AMN’s mobile network base stations with high-speed, low-latency broadband services, to serve even in the most remote and rural communities around the world.
Intelsat, operator of one of the world’s largest integrated satellite and terrestrial networks, and Africa Mobile Networks (AMN) have deployed more than 3,000 rural base satellite antennas across several countries in Africa since 2018, providing new telecommunication services to more than 8 million people.
Afreximbank presents platform to promote African participation in engineering, procurement and construction contracts
Addressing the workshop, Kanayo Awani, Executive Vice President, Intra-African Trade Bank at Afreximbank, said that the objective of the workshop was to promote African participation in large scale African infrastructure projects and to promote the award of EPC contracts to African entities.
In just three years, the global AI industry has more than doubled, reaching a $240bn value and a quarter of a billion users worldwide.
Liquid C2 and Google Cloud partner to bring Google’s cloud and security technologies to Africa businesses
This collaboration aims to further enhance Liquid C2’s cloud and cyber security offerings, which can now be tailor-made to meet customer needs.
Behind every discovery, final investment decision (FID), and first oil announcement in our continent are companies of all sizes, advancing our energy industry and bringing Africans closer to realizing the energy security and prosperity that their petroleum resources represent.
Liquid Dataport, a business of Liquid Intelligent Technologies, a pan-African technology group, is proud to announce its collaboration with Intelsat, one of the world’s largest satellite services providers, increasing the availability of fast and reliable connectivity in Africa during power disruptions.
NJRat and AgentTesla Lead surge in global malware activity, African government institutions targeted, report
The Remote Access Trojan (RAT) NJRat has dramatically risen from sixth to second place, with a particular focus on targeting government agencies and organizations in the Middle East and Africa.
As Intra-African Trade Fair (IATF2023) continues with attendees witnessing the signing of financing and other agreements valued in excess of one billion dollars between the African Export-Import Bank (Afreximbank) and several leading business entities from across the continent.