MetroTrans East Africa has invested Sh 389 million in a fleet of new FUSO buses aimed at meeting the door to door transport demand in the Kenyan Market.
Nigerian fintech startup Grey has announced the launch of its service to East Africa starting with Kenya in partnership with Cellulant
He replaces Mr Joshua Oigara who has been the GCEO for the last nine and a half years. Joshua will be available for a period of time to support a smooth transition. The appointment follows a competitively run selection process that kicked off in March 2022.
The recent entry of the Democratic Republic of Congo to the East African Community has heralded a new economic dispensation expanding the regional market.
Rwanda is on its way to becoming "a living laboratory of emerging technologies" by leveraging its new Center for the Fourth Industrial Revolution (C4IR).
IFC, Equity Group expand partnership to support small business lending, climate-smart projects across Eastern and Central Africa
IFC and Equity Group are expanding their partnership to support the sustainable development of Africa by increasing access to financial services for small businesses and funding for green projects in six countries across Eastern and Central Africa.
The discussions also focused on the implementation of the EAC Single Customs Territory by the Republic of South Sudan to quicken the clearance of cargo at the Elegu/Nimule border.
Jubilee Holdings (Jubilee Insurance), East Africa’s insurance group, and Allianz, world's insurers and asset managers, signed an agreement to establish a strategic partnership in the five African countries where Jubilee Insurance currently operates.
Mastercard has released a white paper revealing how gig work across East Africa is helping to drive economic growth by facilitating economic opportunities, improving livelihoods, and acting as a buffer against unemployment.
The OPEC Fund for International Development (the OPEC Fund) signed a $20 million term loan in favor of East African Development Bank, to support SMEs and infrastructure projects in East Africa.
IFC announced a loan to Kioo, East Africa's largest producer of glass bottles, to help the Tanzanian company weather COVID-19-related challenges, protect jobs, and invest in energy-efficient machinery to reduce its carbon footprint.
Equity Group Holdings (EGH) received regulatory approval to merge Equity Bank Congo (EBC) and Banque Commerciale Du Congo (BCDC) to form a new bank - Equity Banque Commercial du Congo (EquityBCDC).
Equity becomes first Eastern and Central African bank to cross the one trillion shilling balance sheet mark
The milestone was achieved upon successful migration of BCDC to Equity’s Finacle core banking platform.
The U.S. International Development Finance Corporation (DFC) has approved investments this quarter totaling more than $2.1 billion to advance development in emerging markets in Africa, Eastern Europe, Indo-Pacific, Latin America, and the Middle East.
Severe drought conditions in Ethiopia, Kenya and Somalia could result in over 20 million people across the region needing emergency food assistance in 2022, which would be a 70% increase when compared to the severe drought in 2016 and 2017.
If banks are to adequately compete and address the challenge posed by the growing influence of fintechs into their space, they will need to modernize their systems to exceed the services offered by these financial technology players.
Based on this year’s theme, Play it Forward, students were encouraged to go out into the world and make a difference through acts of kindness such as volunteering their skills or mentoring others who are pursuing the same musical path.
Yara Growth Ventures joins SoftBank Vision Fund 2 as an investor in leading African agri-marketplace
Apollo Agriculture a leading African agri-marketplace – announced a series B funding round of USD 30M led by SoftBank Vision Fund and Yara Growth Ventures.
InfraCo Africa a signé une convention entre actionnaires avec Globology Ltd, engageant 3,8 millions de dollars US pour soutenir l’expansion des opérations de transport de passagers de la société Waterbus, active sur le Lac Victoria.
These new additions to OpenWay’s partner network will allow its clients to reduce time-to-market for innovative digital payments solutions in East Africa and beyond.
The Summit of EAC Heads of State at their 19th Ordinary Summit admitted DRC following recommendation by the Council of Ministers.
Kenya is set to host the first trade facilitation summit in the East African region as the country seeks to increase international trade.
Goodlife Pharmacies raises $12m to increase access to quality medicines and healthcare services in East Africa
Healthcare and retail pharmacy chain, Goodlife Pharmacies, raised $12 million in debt financing from Proparco, the French Development Finance Institution, to increase access to quality medicines and healthcare services in East Africa.
Insurance group Jubilee Holdings Limited (JHL), announced it has purchased an additional 10% stake in submarine fibre optic cable project SEACOM, increasing its shareholding in SEACOM from 8.8% to 18.8%.
Countries across East Africa are breathing a sigh of relief as pandemic-related challenges finally ease and the prospect of some form of normalcy emerges.
The expansion of Nigerian fintech Paga to Ethiopia through a partnership with the Bank of Abyssinia is the latest in a growing list of digital financial services investments in the region.
Mozilla Common Voice, an open-source initiative that aims to make voice technology more inclusive has announced $400,000 in grants for voice technologies that leverage its open-source Kiswahili data set.
Mitel, a leader in business communication technology, has announced plans to expand its footprint in the East African region, buoyed by a positive growth trajectory experienced last year.
Further, the bank will avail MoneyGram and Western Union services and also provide a platform for banking inquiries.
East African member states, private sector players and development partners have stepped up their investment in women-led businesses and SMEs in a move likely to impact cross-border trade and boost integration in the region.
The Covid-19 pandemic has taught us many lessons about health security – not the least that, when health resources are scarce, African countries cannot necessarily rely on imports to protect their people.
Leading endoscope manufacturer KARL STORZ became the newest company to join IFC's Africa Medical Equipment Facility, IFC announced today, helping Africa's healthcare providers to further strengthen their services in the wake of the COVID-19 pandemic.
Bloomberg Philanthropies announced a partnership with CARE to expand existing Village Savings and Loans Associations (VSLAs) for agricultural funds in Tanzania, Rwanda, and Democratic Republic of the Congo
East Africa financial institutions are betting on tech to boost their offerings, grow their customers’ portfolio and stay afloat in a competitive market.
Tullow Oil announced that the Final Investment Decision for the Tilenga Project in Uganda and the East African Crude Oil Pipeline (EACOP), has triggered a contingent consideration of $75 million in relation to Tullow’s sale of its assets in Uganda to Total.
The Aga Khan hospitals in East Africa have received €2.3 million grant from Proparco to increase access to healthcare services by boosting oxygen supply and supporting needy patients with quality care.
[East Africa Business Week] Bob Koigi: What EU’s lifting of financial sanctions on Burundi means for EAC
The EU made the decision in the wake of deteriorating political situation occasioned by a disputed presidential election in 2015.
The East African Community (EAC) Secretary General, Hon. (Dr.) Peter Mathuki, has hailed the European Union (EU) for lifting financial sanctions that it imposed on the Republic of Burundi almost six years ago.
As the East African nations continue to make oil and gas discoveries, investors and multinationals are pitching tent in the region on an exploration binge with governments betting on the newfound resources to grow national and regional economies.
An increase in submarine cable activities and fiber connectivity is attracting more investments in East Africa while opening up the region to the world.
Whereas Kenya has been trying to revive regional trade, our own policies and regulations developed over the last couple of years hinder these efforts.
Samsung Electronics has appointed Mr. Tae Sun Lee as the new East Africa Managing Director effective January 2022. He takes over from Mr. Seok Min Hong who has been at the helm of the company since September 2017.
As the East African Community, EAC, member states eye innovative ways of deepening integration and trading more with each other, the bloc and individual countries are putting in place mechanisms, policies and legislation that seek to address longstanding hiccups that have put the brakes on seamless regional trade.
How does the East African region achieve a full economic recovery from the impact of the pandemic while also building toward a more globally-competitive and sustainable future?
Lipa Later, one of it’s kind buy-now-pay-later (BNPL) company operating in Kenya, Rwanda, Uganda and Nigeria, has raised $12 million from a consortium of investors.
This happens in the background of an ongoing trade impasse at the Kenya-Uganda border points of Busia and Malaba that has disrupted cross-border trade. The two borders on the Northern Corridor also serve Burundi, the Democratic Republic of Congo, Rwanda and South Sudan.
As the internet increasingly redefines human relations and penetration takes shape across Africa, the East African region is tapping into the numerous benefits that comes with connectivity.
[East Africa Business Week] Bob Koigi: East Africa positions itself as investment destination of choice
The East African community continues to live up to its billing as a prime investment destination for investors.
The African Development Bank announced the appointment of Patricia N. Laverley as Country Manager, designated for the Tanzania Country Office.
Diamond Trust Bank (DTB) has become a participant of the United Nations Global Compact, joining thousands of leading companies across the world that have committed to advance principles of responsible and sustainable business.
Accor, the world hospitality group with over 400 hotels across India, Middle East, Africa and Turkey is expanding its footprint in Eastern Africa with the opening of the first Mantis property in Kenya.
Papa John's International announced its expansion into Sub-Saharan Africa with its newest franchise partner Kitchen Express LTD, a subsidiary of AAH Limited, the majority shareholder of Hass Petroleum Group.
In a bid to digitize the public transportation system and provide safer, reliable and comfortable commute options across Africa, Toronto-based shared mobility company Treepz, announced its acquisition of a similar Ugandan bus company Ugabus.
Liquid Intelligent Technologies, a business of Cassava Technologies, announced the appointment of Mr. Denny Marandure to the position of Chief Executive Officer for Raha Limited, Tanzania.
The East African economic growth is projected to recover this year despite COVID-19 setback thanks to sustained public spending on infrastructure and improved performance of the agricultural sector.
Trade enabler, DP World, announced the launch of its global wholesale e-Commerce platform DUBUY.com in Kenya, bringing a new digital trade corridor for Kenya and the East African region for efficient, reliable B2B e-Commerce for businesses of all sizes.
AfDB approves $10 million equity investment to boost cold storage and distribution of food, pharmaceuticals in East Africa
The investment will advance the Fund toward its targeted final close of $100 million by the second quarter of 2022. The Fund’s first close of $30 million occurred in November 2019.
New investments by companies across Rwanda most impacted by COVID-19 will be supported with EUR 95 million of new financing backed by the European Investment Bank (EIB).
Africa Investment Forum, projects worth $140 million on the table to boost vaccines and healthcare in Africa
Members of the Africa Investment Forum team showcased two projects as the continent looks to boost its healthcare sector and attract much-needed investment in the wake of the Covid-19 pandemic.
GE Healthcare and medical group AFRIPHARMA announce the opening of the Afri-Egypt Health Services Center, a first of its kind in Uganda with lifesaving equipment from GE Healthcare.
The African Development Bank announced a 36-month debarment of Express Automation, a limited liability company, for fraudulent practices in Kenya.
SEACOM on Thursday announced that its Regional Managing Director for East North East Africa, Tonny Tugee, is leaving the company.
The East African Business Council and East African Tourism Platform have signed a memorandum of understanding geared to market the EAC bloc as a single and most attractive tourist destination.
Chevron partners with Tristar Group to strengthen production and distribution of Caltex lubricants in East Africa
With the signing of this agreement, Chevron has strengthened its already growing presence in East Africa and entrusted its operations to AML as a licensee.
Westcon-Comstor Sub-Saharan Africa has appointed Norbert Siteyi as regional sales manager for its East Africa region.
This partnership is set to boost East African companies and Small Medium Enterprises (SMEs) to take advantage of African Continental Free Trade Area (AfCFTA) through accessing a centralized source of due diligence information.
[Column] Hardeep Sound: Could Tech ‘lions’ prowling Silicon Savannah hold key to East Africa’s post pandemic recovery?
As East Africa recovers from the social and economic impact of the pandemic, could the region’s vibrant tech start-up ecosystem be a catalyst for accelerated growth?
Trina Solar Co., Ltd., a global PV and smart energy total solution provider, is announcing the appointment of Solinc East Africa Ltd in Kenya as an official distributor to supply Trina Solar’s products and solutions in East Africa.
Djibouti Telecom is leveraging Ciena’s GeoMesh Extreme solution to upgrade its DARE1 (Djibouti Africa Regional Express1) network to increase digitization in the East Africa region.
Broadband network and digital services offered in Seychelles will get a boost from a new cable system that will be leased by Seychelles-based telecommunications provider Intelvision, with support from IFC.
HEVA Fund, British Council launch a €4.5M grant facility to support creative and cultural industries in 14 Eastern African countries
HEVA Fund LLP and the British Council, as part of the ACP-EU Culture Programme, have established a grant facility, named Ignite Culture, for the support of creative and cultural industries (CCIs) in 14 countries in Eastern Africa.
Proparco invests in ARAF to drive climate adaptation for smallholder farmers across Sub-Saharan Africa
Proparco, through FISEA+, the AFD Group fund advised by Proparco, signed a $5 million investment in Acumen Resilient Agriculture Fund (ARAF), to help smallholder farmers in East and West Africa adapt to climate change.
Kenya, Tanzania and Uganda have each reached some key milestones in their efforts to put always on, high-speed data communications within reach of citizens and businesses.
The yet to be named joint ventures will focus on fish feed development in East Africa and complete animal feed development in Uganda. The entities will make significant investments in production capacity in both Kenya and Uganda to meet the anticipated future market demand.
Siemens has launched its SIDRIVE IQ industrial IoT monitoring solution for drive systems at its Virtual Smart Mining Forum, seeking to showcase how the solution can increase drive uptime to improve mine site productivity.
TradeMark East Africa and UK’s Institute of Export ink agreement to establish digital trade corridor
The initiative, the ‘UK-Kenya Trade Logistics Information Pipeline’ (TLIP), aims to eliminate paperwork and introduce much better visibility up and down supply chains that flow between Kenya and the UK.
Last year was different for many obvious reasons. But one habit which hasn’t changed is our need and use of everything digital. The pandemic has accelerated our use of digital channels, both as individuals and as businesses.
Communities living across the eastern most peninsula of Africa will be able to enjoy 4G services on their mobile phones following a three-year partnership agreement signed by fixed satellite solution and professional service provider, iSAT Africa and SES.
LG Electronics is expanding its market footprint in East Africa by opening new shops in four countries in response to the growing demand for home appliances.
The African Electronic Trade Group (A-eTrade Group) which also includes the African e-Commerce Development International, has accepted the offer of the Government of Rwanda to host the continental headquarters.
TradeMark East Africa (TMEA) and the Eastern and Southern African Trade & Development Bank (TDB) have signed a Memorandum of Understanding (MoU) that establishes a framework for collaboration ultimately seeking to boost trade in the region served by both institutions.
[Column] Hardeep Sound: The pandemic’s impact in East Africa demands accelerated digital transformation
Facing the prospect of a rapidly growing youth population, countries in the region are in a race to equip their youth with the digital skills they need to drive economic growth and innovation.
This webinar will consist primarily of a live demo of how VOGSY offers Quote-to-Cash services as a Google Workspace Add-on.
The five-year Capacity Building Initiative for Transparency (CBIT) project will enable The Comoros, Eritrea, Seychelles and Zambia to comply with the Paris Agreement’s enhanced transparency framework (Article 13).
The objective of the COMESA-EAC-SADC Tripartite group is to strengthen economic integration of the southern and eastern Africa region through joint planning, design, coordination, and implementation of policies and programmes across the three blocs.
Branded Dimension Data in the Middle East and Africa region, has been recognized by Microsoft with the highest accolade for Azure Cloud experience, being named an Azure Expert Managed Services Provider (MSP).
Adenia Partners, a private equity firm investing in Africa, announced it has completed the acquisition of Africa Biosystems Limited (ABL), a distributor of life sciences and clinical diagnostics equipment in East Africa.
Mastercard has today announced the appointment of Victor Ndlovu as Director, Country Business Development Lead for East Africa.
Reliable and affordable energy sources of energy are key to the attainment of all the four stages of the EAC integration, namely the Customs Union, Common Market, Monetary Union and Political Federation.
African private equity fund manager Ascent announced the first rolling close of its Ascent Rift Valley Fund II (ARVF II) at more than USD 100 million, significantly exceeding its initial target of USD 80 million.
After its launch in September last year, venture builder Satgana has announced its first portfolio startup from Nairobi, Kenya, Mazi Mobility, to address the issues faced by the public transport industry in the Global South by electrifying the motorcycle industry.
Vertiv, a global provider of critical digital infrastructure and continuity solutions, introduced the Vertiv™ VRC-S, a fully factory-assembled micro data center designed for fast, easy installation at the edge of the network and other small IT sites.
The Food and Agriculture Organization of the United Nations (FAO), welcomed €8 million contribution from the EU to enable countries in the Horn of Africa maintain a state of readiness in the face of a possible resurgence of Desert Locusts.
The new Hapag-Lloyd East Africa Service 3 (EAS3) is scheduled to arrive in Kenya and Tanzania next week. The new service will offer excellent connections to Hapag-Lloyd’s global network; Seven 2,800 TEU vessels being deployed in the service.
Starsight Energy announced its expansion into East Africa via the acquisition of a 50% stake in the East African operations of Premier Solar Group, a Commercial & Industrial (C&I) solar company with a focus on Sub-Saharan Africa and South Asia.
Dr. Mathuki highlighted some of his priorities for the next five years including: pushing for the implementation of liberalization of trade-in services; open skies; harmonization of domestic taxes and standards.
Getachew will lead the commercial growth and expansion of Twiga’s business in Kenya and across the borders into the wider East Africa market, in line with the strategic goals of the company.
The African Union (AU) has set out plans to construct industrial parks that will improve the manufacturing of agricultural products as well as the supply chain.
Vodacom Tanzania and Britam Insurance have inked a partnership deal that will see the former issuing third party motor vehicle insurance cover to its over 15 million clients.
MIGA issues guarantees of $37.1m to AIIF3 for clean off-grid solar energy in Central and East Africa
MIGA issued guarantees of up to $37.1 million to a fund (AIIF3), to cover the fund's equity and quasi-equity/shareholder loan investments in Bboxx subsidiaries in Rwanda, Kenya, and DRC for up to 10 years.