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[Nigeria] Access Bank signs Memorandum of Agreement with Diamond Bank
The Board of Access Bank announced it has signed a Memorandum of Agreement with Diamond Bank regarding a potential merger of the two banks that will create Nigeria and Africa’s largest retail bank by customers.
OFID supports health and living standards in Malawi
OFID, the OPEC Fund for International Development has signed a US$12 million public sector loan agreement with Malawi for a project aimed at improving health and living standards for circa 125,000 people.
Mauritania rolls out the welcome mat to investors with new iGuide
Mauritania is serious about “rolling out the welcome mat” to foreign direct investment (FDI) following the launch of an online investment guide in the capital Nouakchott on 22 November.
USADF and Nigeria enters into $10m partnership to support local agribusiness
The President and CEO of USADF and the Governor of Kebbi State, Nigeria, have signed a MOU announcing their intention to develop and expand local agricultural enterprises in the northern Nigerian state.
[Morocco] Vivo Energy and Zakoura Foundation partners with Education Ministry to educate on environment
Vivo Energy and the Zakoura Foundation have signed a partnership agreement with the Ministry of Energy National Education, Vocational Training, Higher Education and Scientific Research to bolster environmental education.
African leaders urged to recommit to boosting continent’s agriculture sector
ECA’s African Trade Policy Centre Programme Management Officer has urged African leaders to honour their commitment to allocate 10% of their budgets to agriculture to improve continent's food security, reduce poverty and spur economic growth.
GreenTec Invests in Tanzanian organic honey producer Afrilife
GreenTec has announced its investment in Afrilife, a Tanzania-based producer of organic honey and bee products.
[Ghana] Esoko empowers farmers communication, bolstering markets
Esoko, a Ghanaian technology firm, is empowering farmers to get better prices for their products, one text message at a time.
Temenos selected by its first public bank in Tunisia for digital transformation
Temenos, the banking software company, announced that Banque de l’Habitat (BH) has signed for T24 Core Banking, Payments, Channels, Analytics, Financial Crime Mitigation and Enterprise Risk Management.
[Kenya] Nairobi Securities Exchange launches Ibuka
The Nairobi Securities Exchange (NSE), has launched an incubation and acceleration board called Ibuka.
[SA Business Week] Mixed fortunes for public and private sectors
The public and private sectors have this week recorded heightened activities with partnerships, trade and capital markets dominating headlines.
ACWA Power collaborates with ECOHZ to empower Morocco women
ACWA Power has announced collaboration with ECOHZ to empower local women and support communities in Morocco.
[Column] Bob Koigi: Africa’s silver bullet is in its new tribe
In East Africa, a group of vanguard youthful innovators are transforming the region into a tech powerhouse through modern innovations.
[Kenya Business Week] Conquering the skies, an innovation at a time
Weeks after launching direct flights to the United States, Kenya is streamlining its aviation sector further.
Qatar Petroleum marks its first entry into the Republic of Mozambique
Qatar Petroleum has entered into an agreement with an ExxonMobil affiliate to acquire a 10% participating interest in three offshore exploration blocks in the Republic of Mozambique.
[Egypt] Shifting public funds from infrastructure to investing in people - World Bank report
Egypt has an opportunity to capitalize on current reforms by enabling more private investment in infrastructure and freeing up public funds for investments in people’s education, health and social protection.
Africa is an extremely important market for South Africa, Trade Minister
South Africa Minister for Trade and Industry Dr Rob Davies said that South African business people should consider the continent as an extremely important market, especially for trade in value added products.
Konza Technopolis and Huawei to set up an innovation hub in Kenya
Konza Technopolis Development Authority and Huawei have announced plans to set up an innovation hub in Kenya, at Machakos University dubbed Konza Innovation Hub.
Kenya's 2019 growth prospects hinge on continued political stability, ICAEW report
Most African countries are reported to have a positive economic outlook, apart from those with upcoming elections. This is according to ICAEW’s (the Institute of Chartered Accountants in England and Wales) latest report.
[Kenya] Boreal Light launches unique Water Kiosk system in Miamba
Boreal Light GmbH has announced the launch of one of its most unique implementations of the Winture Planet Cube Water Desalination Systems in Miamba, Kenya.
[Egypt] e-health startup Vezeeta receives $1m funding from IFC
Egyptian e-health startup Vezeeta has raised $1 million in additional funding from IFC to add to the $12 million in Series C financing it raised earlier this year to continue its international expansion.
[Kenya] CBK Governor appointed by the UN to the Task Force on Digital Financing of the SDGs
The Central Bank of Kenya (CBK) has announced the appointment of Governor Dr. Patrick Njoroge by the United Nations Secretary-General, to the Task Force on Digital Financing of the Sustainable Development Goals (SDGs).
[South Africa] 4AX moves to shortened trading times and settlement cycle
4 Africa Exchange Proprietary Limited (4AX) confirms that the exchange is moving to a shortened trading times (T+0) settlement cycle, further strengthening the 4AX value proposition.
Kenyan private sector completes one year of growth, Stanbic Bank report
According to a report released by Stanbic Kenya PMI, operating conditions in Kenya’s private sector economy improved solidly in November, although the rates of growth in output and new orders were marginally below those seen in October.
[South Africa] JSE to amend the listing requirements as proposed in the JSE Consultation Paper
Following the release of the Regulatory Review Consultation Paper for public comment in September, the Johannesburg Stock Exchange (JSE) is pleased with the market response and will release the proposed amendments early in 2019.
[South Africa] Liquid Telecom receives $180m investment from CDC Group
Liquid Telecom has reached an agreement with CDC Group, the UK’s development finance institution, to invest $180m in the company.
[South Africa] The dti welcomes court's judgement on reducing interest rate for short-term loans
The Minister for Trade and Industry, Dr Rob Davies has welcomed the Supreme Court of Appeal’s decision to dismiss Micro Finance South Africa (MFSA) application challenging the regulations reducing the interest rate on the short-term loans.
World Bank and Egypt sign $1b reform program agreement
The World Bank and Egypt have signed an agreement for a US$1 billion program to support the next phase of the country’s reform program.
Senegal, Kenya, South Africa and Egypt projects reap from low carbon initiative
A new report has highlighted the impact of a project implemented by the United Nations Industrial Development Organization.
IFAD invests $210 million to support 30,000 Ugandan households who rely on palm oil
Over 30,800 vulnerable rural households in Uganda will benefit from a $210.4 million project that aims to sustainably increase rural livelihoods by supporting an efficient oil palm industry.
[SA Business Week] Investment wave boosts country’s earnings, attractiveness
South Africa continues to be the continent’s preferred destination for international investors due to its competitive market, favorable political climate, a booming middle class and strategic location.
[Kenya] Azuri, Unilever launch e-voucher system for off grid customers
Pay-as-you-go solar pioneer Azuri and consumer goods company Unilever have launched an e-voucher system designed to help off-grid rural consumers in Kenya access consumer goods and services via pay-as-you-go solar.
[Column] Bob Koigi: Cultivating the Facebook farming revolution to grow African economies
In less than a decade, Africa ICT sector has experienced an unprecedented boom that has caught the world’s attention.
[Kenya Business Week] Manufacturing, automation and job creation nexus
Even with mounting fears that rapid automation could reduce the number of jobs in the Kenya’s manufacturing sector, a new report posits that digital technologies can, in fact, boost job creation.
Africa Governance Report calls for sustainable management of natural resources
The fifth edition of the African Governance Report has examined efforts made to improve the governance of Africa’s abundant natural resources.
Policy reforms to lift Nigeria's digital economy, GSMA report
Modernising regulation and policy reform will be crucial to boosting Nigeria’s digital economy and accelerating internet access for millions through increased mobile broadband penetration.
Kenya launches ambitious plan to provide electricity to all citizens by 2022
The Kenyan government has launched the Kenya National Electrification Strategy (KNES).
[Rwanda] IFC supports I&M Bank Plc to grow small business access to finance
IFC, a member of the World Bank Group, has signed a two-year $500,000 advisory project with I&M Bank (Rwanda) Plc. to expand access to finance for small and medium enterprises.
Technical University of Munich launches Africa initiative promoting sustainable development
The Technical University of Munich in collaboration with African research and academic institutions has launched an Africa initiative.
South Africa -Tunisia Business Council mooted to boost trade and investment
South Africa Deputy Minister for Trade and Industry has received the assurance of the Tunisian business people that they are keen and committed to the establishment of the joint South Africa-Tunisia Business Council.
Africa SDG report calls for critical investments in urbanization
The 2018 Africa Sustainable Development Report has called on African governments to prioritize investments in water, sanitation and urbanization.
AfDB, Big Win Philanthropy, Dangote Foundation launch plan to improve child nutrition across Africa
Working with Big Win Philanthropy and Aliko Dangote Foundation, the African Development Bank has unveiled a new Multi-Sectoral Nutrition Action Plan.
[Nigeria] Sirius Petroleum acquires 75% shareholding in Precision Energy
Sirius Petroleum, the Nigeria-focused oil and gas development and production company, has entered into a conditional sale and purchase agreement with Precision Energy Group (“PEG”) to acquire a 75% shareholding.
Elanco Animal Health, Farm Radio International partner to support livestock farmers in Tanzania
Elanco Animal Health and Farm Radio International have partnered to produce a 13-week series of radio programs to educate small-scale livestock farmers in North Tanzania.
[Nigeria] NNPC most transparent government organization, Managing Director
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), has described the national oil company as the most open and transparent government-owned corporate entity.
[South Africa] Johannesburg remains Africa’s most popular city, Mastercard Index
Johannesburg has emerged as the most popular destination city in Africa for the fifth consecutive year, according to the annual Mastercard Global Destination Cities Index.
[Nigeria] ECOWAS and Spanish government to collaborate more on human capital development
The Commission of the Economic Community of West African States (ECOWAS) and the government of Spain have restated their commitment to greater collaboration in order to build the capacities of citizens in the region.
[Rwanda] BK Group PLC cross-lists on Nairobi Securities Exchange
BK Group PLC has cross-listed on the Nairobi Securities Exchange (NSE) becoming the first Rwandan company to tap into the Kenyan Capital Market.
[South Africa] MTN Group joins IoT World Alliance
MTN Group is now the first African telecommunications company to join the IoT World Alliance, the leading enabler of connected IoT solutions.
[South Africa] Standard Bank appoints new Chief Executive for Wealth
Effective 1 February 2019, Peggy-Sue Khumalo will assume the position of Chief Executive, Wealth, South Africa for Standard Bank.
Experts weigh in on new strategy for financing Africa's infrastructure
A draft report by the United Nations Economic Commission for Africa (ECA) titled, “Attracting Institutional Investors in Africa’s Infrastructure,” has undergone a thorough review by experts from wide-ranging sectors.
[Kenya] AfDB approves $18.17m for Kopere Solar Project
The African Development Bank Group has approved a $18.17 million senior loan to the 40 MWac Kopere Solar Power Project owned by Voltalia.
Senegal receives 51 million euros from the AfDB to finance a power plant
The Board of Directors at the African Development Bank (AfDB) have agreed to a first rank loan of 51.26 million euros to finance the construction of a power plant in Malicounda, Senegal.
[Kenya] ICIPE to manage regional doctoral training, research and innovation fund
The International Centre of Insect Physiology and Ecology (icipe), Kenya, has been selected to manage the Regional Scholarship and Innovation Fund (RSIF).
[Column] Bob Koigi: Cementing sustainable African cities agenda
The maxim Africa is the future perhaps rings true now more than ever.
Kenya targets to recycle 14,000 tonnes of plastic bottles
Kenya is among few countries in the Africa that has taken positive steps towards the management of plastic pollution.
[Kenya Business Week] Leveraging the blue economy wave to boost national purse
Kenya has this week successfully hosted the first global conference on blue economy that brought together over 16,000 delegates.
[Kenya] 20 organizations unveil drive to actualize gender equality and SDGs
More than 20 partner organizations have launched the Deliver for Good Kenya Campaign.
Ghana and West Africa first local currency corporate bond lists on London Stock Exchange
Quantum Terminals Group (QTG), a leading energy infrastructure developer in Ghana, has listed a corporate bond on London Stock Exchange’s International Securities Market.
[South Africa] Vodacom adds over 150 new sites to prepare its network for the festive season
Vodacom has added over 150 new sites to its network to facilitate additional traffic over the festive season.
AfDB approves €17.96 million Ring-Road project to improve socio-economic growth in Cameroon
The African Development Bank (AfDB) has approved a €17.96 million loan to the Republic of Cameroon to finance the construction of a Ring-Road Project in the North-West Province of the country.
[Nigeria] Undergrid minigrids can generate $billion in yearly revenue, study
A new study by Rocky Mountain Institute (RMI) and Energy Market and Regulatory Consultants (EMRC) uncovers the business case for undergrid minigrids.
[Kenya] Blue economy agenda gains momentum as Nairobi conference closes
President Uhuru Kenyatta has lauded the just concluded Nairobi conference as one that generated the right momentum for harnessing the enormous economic potential of the blue economy.
RLSF signs deal with five African countries to de-risk renewable energy projects
Since launching a year ago, the Regional Liquidity Support Facility (RLSF) has signed agreements with five countries.
[South Africa] A2X agency transactions now settled using SecuritEase
SecuritEase is pleased to announce that it has implemented its multi-market, multi-currency settlement system at Investec Securities to clear and settle both principal and agency trades executed on the A2X market.
[South Africa] DMR initiates ground stability study in areas affected by illegal mining
The Department of Mineral Resources (DMR) has initiated a ground stability study to be undertaken in the Johannesburg area with immediate effect.
African Economic Research Consortium conference to address looming Africa debt crisis
The African Economic Research Consortium (AERC) is set to host its 49th Plenary Session of the Biannual Research Workshop in Nairobi, Kenya.
[Senegal] New industrial park now open for business
The government of Senegal in collaboration with UNIDO have opened a new industrial park forty kilometers (24 miles) from Senegal's capital, Dakar.
AfDB partners with Entreprenarium to build capacity of 1,000 women entrepreneurs in Africa
The African Development Bank (AfDB), as part of its African Women's Access to Finance Initiative (AFAWA), is partnering with Entreprenarium to build the capacity of 1,000 women entrepreneurs on the continent.
[South Africa] Standard Bank allows customers to convert bank charges into airtime or data
In a further move to cement its position as an integrated financial services organisation offering exceptional value, Standard Bank is entering the airtime and data market.
Kenya Power posts KShs3.1 billion in annual gross profit
Kenya Power has announced a gross profit of KShs.3.1 billion for the year ended 30th June 2018. During the trading period, electricity sales increased by 2.3 % from 8,272 million units the previous year to 8,459 million units.
African countries urged to sign the Luxembourg Protocol
The Chief of Industrialization and Infrastructure at ECA has urged the African countries to sign the Luxembourg Protocol because railways are the key to open and free trade across Africa.
Let us make Africa’s infrastructure competitive, Zimbabwean Minister
Zimbabwe’s Transport and Infrastructural Development and Transport Minister has urged the Africa continent to focus on infrastructure development, to ensure it was competitive enough to make a difference.
Mozambique making economic and social progress, AfDB report
According to the latest African Development Bank (AfDB) Country Result Brief, Mozambique has made significant strides despite an economic slump over the past two years.
[South Africa] Accutrak to Expand Market to Mozambique
Accutrak, a North-West technology company in South Africa is looking forward to expanding its customer base during the Trade and Investment Mission to Mozambique this month.
Safaricom enables easier access to Mpesa for the visually impaired persons
Persons living with visual impairment/blindness can now access M-PESA messages independently in braille format and conduct financial transactions with confidentiality.
Rwanda, Netherlands sign €22 million agreement to support water initiatives
The government of Rwanda and Netherlands have signed Memorandum of Understanding for additional financing grant worth €22 million to support Integrated Water Resources Management Program.
Africities summit bolsters sustainable Africa resolve
Delegates attending the eighth Africities Summit in Marrakesh Morocco have rallied behind Africa’s sustainable agenda.
[Nigeria] CISI partners with NSE to reinforce finance professionals in Africa
The Chartered Institute for Securities & Investment announced a new partnership with The Nigerian Stock Exchange to provide training for CISI’s qualifications in Nigeria, under the auspices of X-Academy.
[Column]Flora Mutahi: Women can boost global value chains
The move by Ethiopia to increase female representation in Government is the latest indication of a global wave of awakening to the reality that increased female participation for development is a must for any economy.
[Kenya] ICIPE discovers cricket species to bolster food security
Researchers at the International Centre of Insect Physiology and Ecology (icipe) in Nairobi, Kenya, have discovered a new, previously undescribed edible cricket with great promise for mass production.
[South Africa] Motus Holdings lists on the Johannesburg Stock Exchange
The Johannesburg Stock Exchange (JSE) has announced and celebrated the listing of Motus Holdings, a leading automotive group in Southern Africa, on the Main Board.
Platform that captures Africa’s urbanization trends launched
A new comprehensive tool on African urban agglomerations has been launched on the sidelines of the eighth Africities Summit in Marrakesh Morocco.
African countries to develop the First African South-South Cooperation Report
Under the coordination of UNDP and collaboration with NEPAD’s Planning and Coordinating Agency, African countries are developing the First African South-South Cooperation Report.
Japan supports WFP to scale up nutrition programme in Ghana
The United Nations WFP has received US$5m from the Government of Japan to enable scale-up a programme addressing undernutrition, micronutrient deficiencies and obesity in Ghana.
AfDB marks Toilet Day with US$500 million commitment to new sanitation funding
As the African Development Bank (AfDB) joined the international community to observe World Toilet Day, it is putting considerable financial muscle into the global effort to improve toilets and sanitation.
East African countries to attract private tourism investments
A two-day Ad-Hoc Expert Group Meeting being held in Kigali is seeking to explore avenues through which financing for tourism development in the Eastern Africa region could be sustained.
IFC, Atlantic Financial Group in $1.6m deal to expand digital financial services in Cameroon
International Finance Corporation, IFC has announced an agreement of $1.6 million with Atlantic Financial Group Central and East Africa to expand access to digital financial services.
[Morocco] Zenata, UNIDO seek to boost operations at eco industrial park
The Zenata Development Company (SAZ) and the United Nations Industrial Development Organization (UNIDO) are joining forces to ensure the sustainability of the Zenata industrial park in Morocco.
NASCU and Mastercard announce landmark agreement to drive financial inclusion in Zambia
NASCU and Mastercard today announced a landmark agreement to drive financial inclusion by extending formal financial products and services to undeserved members of cooperatives.
USADF partners with Nigeria to support local agribusiness
The President & CEO of USADF and the Governor of Kebbi State, Nigeria signed a MOU announcing their intention to develop and expand local agricultural enterprises in the northern Nigerian state.
[South Africa] Liquid Telecom wins AfricaCom award for Best Network Improvement
Liquid Telecom collected the Best Network Improvement award at the annual AfricaCom Awards last week, in recognition of the recent completion of its Cape to Cairo network.
McKinsey shows Africa is world’s next big growth market
A new book by McKinsey confirms that Africa is poised for economic acceleration, akin to the Asian boom.
[South Africa] Government pulling out all stops to improve investment climate, Trade Minister
The South African government is pulling out all the stops to improve the country’s investment climate with the aim of attracting more investments to achieve the target of $100 billion worth of investments.
[Ghana] Agric sector lending gets GHC400m boost
The Ghanaian Government has set aside GH¢400 million, with an additional funding of $14.0 million from the Africa Development Bank, towards the establishment of the Ghana Incentive Base Risk Sharing System for Agricultural Lending next year.
World Bank Group launches L’Afrique Excelle to support Francophone Africa’s top tech entrepreneurs
The World Bank Group has announced L’Afrique Excelle, a six-month business acceleration program designed to support the 20 most promising growth stage technology start-ups operating in Francophone Africa.
[Nigeria] Eni, FAO commission water well for IDPs in Abuja
Eni and the Food and Agriculture Organization of the United Nations have commissioned a model solar powered borehole for the Internally Displaced Persons in Waru, Abuja.
AfDB approves $40m equity investment in Africa Infrastructure Investment Fund
The Board of Directors of the African Development Bank has approved its third equity investment of $40m in Africa Infrastructure Investment Fund (AIIF3).
[SA Business Week] Telcos shine at AfricaCom, A2X gains new traders
AfricaCom is Africa’s largest tech, media and telcos annual festival where digital Africa interacts, learns, debates and ultimately make deals.
Liquid Telecom Kenya releases its 2018 sustainability report
Liquid Telecom Kenya, has today published its second annual Sustainability Report revealing the internal reorganisation and value initiatives that have helped drive the company’s rapid revenue and profit growth.
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Making money with cryptocurrencies - here's how, financial expert
Cryptocurrency has become especially popular over the last few years, as this is one of the ways of additional, and for some people an even primary source of income. Everything is straightforward: buy cheaper, sell more expensive. As well as an investment in the common currency... read more