Pan-African banking group Ecobank has appointed Mr Alain Nkontchou, a Cameroonian and Independent Non-Executive Director since 2015, as Board Chairman of its holding company, Ecobank Transnational Incorporated (ETI).
Rabah Arezki appointed Chief Economist and Vice President, Economic Governance and Knowledge Management, AfDB
The African Development Bank Group (AfDB) has appointed Dr. Rabah Arezki as Chief Economist and Vice President, Economic Governance and Knowledge Management, effective 1st October 2020.
Container transportation and shipping company CMA CGM will launch its new product 'Round the Africa' (RTA), in complement of the current existing 31 services to Sub Saharan Africa, come July 25, 2020 in Shanghai, China.
The Board of Directors of the Bank of Central African States (BEAC) has allowed the opening of foreign currency escrow accounts by petroleum and mining operators.
Safaricom has partnered with UNESCO, and Eneza Education to implement a digital mentorship programme for high school students interested in Science, Technology, Engineering and Mathematics (STEM).
Seplat Petroleum Board of Directors appointed Mr. Emeka Onwuka as Chief Financial Officer (CFO) and Executive Director of the Company, joining the Seplat Board, effective August 1, 2020.
The World Bank discussed the Rwanda Country Partnership Framework (CPF) for the period 2021-26, to guide the Bank’s work for the next 6 years supporting the Government of Rwanda’s strategic priorities.
Economic disruption caused by the COVID-19 pandemic has pushed East Africa’s growth projection for 2020 down to 1.2 percent, a rate that outstrips other African regions and is forecast to rebound to 3.7 percent in 2021, according to the AfDB.
African Church leaders are highlighting the need to tame the continent’s persistent post-harvest losses, as organizations point at rising food insecurity due to the coronavirus pandemic.
The Nigerian Communications Commission (NCC) has created a Digital Economy Department principally responsible for implementing programmes and policies aimed at fully supporting and promoting the national digital economy agenda.
The Chartered Institute of Bankers of Nigeria (CIBN) has commenced plans to adopt Remote Online Proctoring for the conduct of its professional banking and certification examinations.
A new African Centre of Excellence for sustainable cooling and cold chain based in Rwanda will help get farmers’ produce to market quickly and efficiently, reducing food waste, boosting profits and creating jobs.
French oil major Total and its project partners are set to resume drilling at block 11B/12B in the Luiperd prospect, where Total in early 2019 flagged potential resources of 1 billion barrels of oil equivalent, in September.
Vodacom Business has partnered with Cloudflare to provide businesses of all sizes, faster, more secure and reliable website services.
IFC issued a new US dollar global benchmark bond, raising $2 billion to support private sector enterprises in developing countries in the face of the global COVID-19 health and economic crisis.
Australian exploration company Pensana Rare Earths has listed its Longonjo project in Angola on the London Stock Exchange, representing the U.K.’s first resources-focused IPO since COVID-19.
International oil & gas production company focused on pursuing African development opportunities Zenith Energy announces it has entered into a joint venture agreement with a local oil & gas company in the Republic of the Congo.
The World Bank approved a $100 million International Development Association which includes $50 million credit and $50 million grant to help Niger implement an ambitious program to use digital infrastructure.
Orange Egypt, provider of integrated telecommunications services has been ranked the first in the speed of data services for almost a year since the inception of issuing the NTRA’s monthly report on the quality of communications network services.
The African Union Commission has launched the Africa Centres for Disease Control and Prevention (Africa CDC) Consortium for COVID-19 Vaccine Clinical Trial (CONCVACT).
Communications service providers can now tap the full potential of 5G New Radio (NR) technology with the commercial availability of Ericsson Standalone 5G NR software for 5G mid- and low bands.
The OPEC Fund for International Development (the OPEC Fund) signed a $20 million loan agreement with the Republic of Mali to finance a road project that will improve links to economic centers and social amenities.
The OPEC Fund for International Development (the OPEC Fund) signed a $95 million loan agreement with Egypt to help create thousands of job opportunities and boost self-employment in the North African country.
TechnipFMC has signed a major Engineering, Procurement, and Construction contract with Assiut National Oil Processing Company (ANOPC) for the construction of a new Hydrocracking Complex for the Assiut refinery in Egypt.
Uganda’s real gross domestic product (GDP) growth in 2020 is projected to be between 0.4 and 1.7% compared to 5.6% in 2019, according to the latest edition of the Uganda Economic Update released by the World Bank.
IFC announced a $5.2 million loan to Nyaho Medical Centre to support the Ghanaian health care provider’s expansion outside Accra and the upgrade of its existing hospital so it can better serve its patients.
Rectron announces that following the signing of a distribution deal with H3C earlier this year, it has now become the distributor for H3C in South Africa.
The Food and Agriculture Organization (FAO) welcomed a €15 million contribution from the European Union to fight the Desert Locust upsurge in East Africa as a new wave of locusts is emerging in the region.
The United Nations World Food Programme (WFP) launched a large-scale food and nutrition intervention to assist nearly one million people in the northern and central regions of Mali.
The COMESA National Federation of National Associations of Women in Business (FEMCOM) Chapter in DR Congo has embarked on a $2.3 million project to support women in business.
World Bank approves $425m financing to support infrastructure development in Eastern and Southern Africa
The World Bank approved $425 million in International Development Association financing to support infrastructure development in Eastern and Southern Africa through the Trade and Development Bank and COMESA Secretariat.
Africa’s growth stands to rebound to 3% in 2021, provided that governments manage the COVID-19 infection rate well, African Development Bank says in African Economic Outlook 2020 Supplement.
An African Development Bank project to enhance market infrastructure, value addition and rural finance (MIVARF) in Tanzania produced highly satisfactory results, according to a report released by the project team.
China Yutong Bus has donated more than 1.2 million medical masks to African countries and shared the experience of public transport pandemic prevention in China.
The Government of Madagascar received a cheque of $2.13 million from the African Risk Capacity Insurance to cover anticipated losses to livelihoods of its vulnerable population from the crop failure in the just concluded farming season.
FCMB Group notified the Nigerian Stock Exchange that its pensions arm, FCMB Pensions, has entered into an agreement to acquire 96% of AIICO Pensions.
The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are stepping up their support for green investments and climate resilience in Egypt, Morocco.
In order to facilitate transitional arrangements in the coffee sector, the Capital Markets Authority (CMA) in Kenya has issued guidance to support sector players.
Pan-African financial services group United Bank for Africa (UBA) has appointed Ayoku Liadi and Oliver Alawuba as Deputy Managing Directors in charge of UBA’s Nigeria and Africa businesses, respectively.
An EU Humanitarian Air Bridge flight arrived in Mogadishu from Brindisi, Italy, carrying humanitarian and medical supplies provided by the Italian Ministry of Foreign Affairs and International Cooperation.
I hear this a lot, “We are in unprecedented times.” Actually, to borrow from author and motivational speaker Simon Sinek, we are not. We have been through tough business situations like this before.
The International Fund for Agricultural Development of the United Nations, IFAD, has announced a new project that will boost support for about 210,000 poor rural households in Niger
The World Bank approved a total of $157 million for the Malawi Watershed Services Improvement Project composed of a $78.5 million credit and $78.5 million grant from the International Development Association.
Everyone is fair (and likely) game when it comes to identity theft. That is true at the best of times, but the COVID-19 pandemic has only intensified cyber fraudsters’ hunt for the susceptible and vulnerable.
The African Energy Chamber expresses its concerns over the alleged arrest and detention of three energy executives in Tanzania last week.
Merck Foundation in partnership with African First Ladies and Ministries of Health, continue to provide one, two- and three-year Oncology Fellowship and Master degree for African doctors through their Cancer Access Program.
Konnect Africa, a subsidiary of Eutelsat Communications has proposed to offer broadband internet connection to isolation centers to fight against Covid-19 in Sokoto, a north-western state in Nigeria.
BUA Cement to establish ultramodern 3,000,000 metric tonnes cement plant, 50mw power plant in Adamawa, Nigeria
West Africa’s BUA Cement announced it is set to establish a three million metric tonnes cement plant and 50 megawatts power plant in Guyuk and Lamurde local governments of Adamawa state in the North Easter region of Nigeria.
The African Development Bank (AfDB) announces the appointment of Wambui Gichuri as Acting Vice President- Agriculture, Human and Social Development, effective 5 July 2020.
Following an evaluation of the exploration potential of the blocks and an assessment of the report of the pre-feasibility phase of the EIA, Sasol has decided to relinquish its exploration license in Blocks 16 & 19 offshore Mozambique.
Atlas Petroleum has resumed work over activities and well interventions on OML 109 in Nigeria in order to enhance production from the Ejulebe marginal field.
Tanzania Vodacom customers to transfer and receive funds from across more than 200 countries worldwide
Tanzania’s leading mobile money service provider Vodacom M-Pesa announced the expansion of its International Money Transfer service portfolio and Vodacom customers will now transfer and receive funds from across more than 200 countries.
The Government of Sudan last month began facilitating the return home of the first of an estimated 15,000 Sudanese nationals stranded overseas, many in urgent need of assistance, with the support of IOM.
The government of Madagascar received a check of $2.13 million from the Insurance Company of the Pan African Risk Management Mutual (ARC) to cover the loss of livelihoods of its population caused by climatic disasters.
IFC announced a loan of up to $100 million to Commercial International Bank (CIB), Egypt’s largest private bank, to help the bank increase support to clients and companies whose cash flows have been disrupted by the COVID-19 pandemic.
Andela, the global talent network that helps companies build remote engineering teams, will now accept engineers from all African countries, expanding its presence from six countries to the entire continent.
IFAD announced support for a new programme in the DRC to reduce poverty, increase productivity and incomes, improve food and nutrition security, and build the resilience of more than 410,000 small-scale farmers households.
Integrated chemicals and energy company Sasol and Enaex, a subsidiary of the Sigdo Koppers Group, announced the start of new explosives joint venture Enaex Africa operations in Southern Africa.
Telma Madagascar has switched on its 5G commercial network to offer subscribers high-speed services enabled by the new generation of mobile connectivity and powered by Ericsson, the 5G network is now live in multiple cities in Madagascar.
Communications service provider MTN has gone live with Ericsson-powered commercial 5G in the South African cities of Bloemfontein and Port Elizabeth.
Algeria’s Hydrocarbons Company SONATRACH and Italian's ENI signed several cooperation agreements in the gas sector and a memorandum of understanding on the possibilities of investment in the exploration and production of hydrocarbons.
The Minister forTrade, Industry and Competition issued a trade policy directive to the International Trade Administration Commission of South Africa to urgently look into measures to help support the metals industry.
The Minister for Trade, Industry and Competition (the dtic) , Mr Ebrahim Patel gazetted amendments to the Sugar Industry Agreement and South African Sugar Association Constitution.
Ecobank Group has announced its commitment to support ending malaria, launching the first-of-its-kind Zero Malaria Business Leadership Initiative in partnership.
The African Development Bank Group has concluded the investment of R2 billion ($116 million) in Sustainable Development Goals-linked bonds (SDG bonds) issued by Nedbank South Africa.
The Nigerian Minister for Agriculture and Rural Development Alh. Mohammad Sabo Nanono flagged off the distribution of wet season farming support for improved rice production technologies among rice farmers at Tofai community.
The Nigerian Stock Exchange (NSE) upgraded its Data Portal (X-DataPortal) to provide a more efficient, user-friendly experience for subscribers.
The MultiChoice Group has become an official supporter of the United Nations’ global COVID-19 awareness campaign Pause which launched globally on 30 June.
Olam International, in partnership with Agropolis Fondation, is on the hunt for ground-breaking scientific research that can deliver transformational impacts within global agriculture and win of $75,000 grant to support development.
The role of procurement is about ensuring that business operations continue like clockwork no matter how disrupted the business environment is.
The Eastern Africa National Networks of AIDS and Health Service Organizations (EANNASO) announced the launch of its East Africa Wananchi Digital Health Platform (AFYA).
The African Development Bank has joined the World Trade Organisation (WTO)and other multilateral development banks (MDBs) to reduce trade finance gaps that emerge as a result of the COVID-19 pandemic.
The United Nations World Food Programme (WFP) has launched cash transfers and nutrition support for more than a quarter of a million people struggling to survive from the impact of COVID-19 on informal settlements in Nairobi.
First Aid Africa and Renovagen Ltd have announced the success of a rapid response project to support testing operations in the fight against the COVID-19 pandemic in Zambia.
IFC announced a $185 million loan to The Standard Bank of South Africa to help it expand its COVID-19 lending program to small and medium-sized enterprises and corporates affected by the pandemic.
IFC, IFU and PROPARCO are providing an equity financing package of up to $108.5 million to Humania, a private healthcare company, to help improve medical care in Egypt and Morocco.
Oceaneering International announced its Asset Integrity group has secured a three-year contract in Angola with Cabinda Gulf Oil Company Limited (CABGOC), a Chevron subsidiary.
Eni, BP and Total have successfully drilled the first exploration well in the North El Hammad license, in the conventional Egyptian waters of the Nile Delta, on the prospect called Bashrush.
The African Development Bank (AfDB) announces the appointment of Mr. Souley Amadou as Acting General Counsel and Director of the Legal Service Department, effective 1 July 2020.
The World Bank approved a total amount of $425 million in International Development Association (IDA) financing to support the provision of infrastructure finance in Eastern and Southern Africa.
The World Bank approved $315 million from the International Development Association (IDA) to support job creation, skills development and digital transformation in Ghana.
As a sign of its strong commitment to Africa, the World Bank’s Sub-Saharan Africa Regional portfolio will now be managed by two Vice Presidents, covering Western and Central and Eastern and Southern Africa, respectively.
The European Bank for Reconstruction and Development (EBRD) and the United Nations World Tourism Organisation (UNWTO) are joining forces to boost the recovery of the tourism sector across the 38 economies where the Bank invests.
Three leading international financial institutions, the African Development Bank, the World Bank, and the International Monetary Fund (IMF), pledged multi-pronged support to Sudan.
Nigerian electricity distribution company Ikeja Electric has metered over one hundred and twenty thousand households between 2018 and June 2020, in line with its commitment to bridge its metering gap.
The World Bank approved a $40 million International Development Assistance (IDA) grant for Somalia as part of the Emergency Locust Response Program, which seeks to respond to the threat posed by the locust outbreak.
The World Bank approved a $50 million grant to support the Government of Sierra Leone’s flagship program for Free Quality School Education launched in 2018.
The Chartered Institute for Securities & Investment (CISI) and the Ghana Investment and Securities Institute (GISI) announced the renewal of their partnership, confirming confidence in Ghanaian financial services profession.
The International Finance Corporation (IFC) is providing €10 million in funding to the Tunisian date processing company VACPA.
IFC is boosting its response to the COVID-19 pandemic by offering new incentives for financial institutions to provide loans to SMEs in the poorest countries and to women entrepreneurs across all emerging markets.
Mozambique’s state-owned National Hydrocarbon Company (ENH) has assured the partners in Mozambique’s Liquefied Natural Gas (LNG) project a $20 billion gas project led by Total.
The United Nations World Food Programme (WFP) received Japanese Government contribution of $ 700,000 that will enable WFP to provide food assistance to some 30,000 vulnerable people in Namibia.
The Zambia Digital Economy Diagnostic, a new report developed by the World Bank, finds that Zambia is making significant strides towards the use of digital tools to achieve the social and economic transformation goals set forth in its Vision 2030.
[Nigeria] IITA, Mastercard Foundation partnership to equip youth in agrifood value chain with skills
The International Institute of Tropical Agriculture (IITA), through its Youth in Agribusiness office, is partnering with the Mastercard Foundation in Nigeria to implement the Young Africa Works strategy.
Emerging domestic natural gas and helium producer Renergen announced that Total South Africa Proprietary and the Company signed an agreement for the joint marketing and distribution of Liquefied Natural Gas (LNG).
Total and Sonatrach have signed an agreement to renew their partnership in the field of liquefied natural gas (LNG).
The Security Council renewed the sanctions regime imposed on the Democratic Republic of the Congo for one year, while extending for 13 months the mandate of a Group of Experts tasked with assisting in the oversight of those measures.
The African Development Bank approved a donation of 1.1 million US dollars to the Rwandan government for the implementation of the Project of commercial competitiveness of the value chain of the meat.
TGS announced the completion of its flagship Jaan 3D seismic survey covering the MSGBC Basin in NW Africa acquired in partnership with PGS and GeoPartners.
South Africa's Tongaat Hulett announced it had entered into an agreement with Eswatini’s Public Service Pensions Fund (the PSPF) to sell Tambankulu Estates, its Eswatini agri-business, for R375 million.