Across Africa, urban centres are rapidly expanding as the continent’s large – and growing – youth population seek better fortunes in the city.
Union Bank, one of Nigeria’s foremost financial institutions, has unveiled the 2021 UnionX Innovation Challenge, as part of efforts to support young startups and boost innovation in the startup ecosystem.
VAALCO Energy announced it has completed the previously announced acquisition of Sasol Gabon's 27.8% working interest in the Etame Marin block offshore Gabon, increasing the Company’s total working interest to 58.8%.
Ghana and Côte d’Ivoire have agreed to form a joint committee to find a lasting solution to security challenges faced by cocoa farmers along the southern parts of the shared border of the two countries.
In another step towards creating a "digital FAO", the Food and Agriculture Organization of the United Nations is committing to increasing by 50 percent its delivery of digital financial transfers and vouchers to beneficiaries.
The United Nations World Food Programme (WFP) welcomed an additional $7 million in new funding from Switzerland, through the Swiss Agency for Development and Cooperation (SDC).
Dickson Osogo a farmer in Kenya’s Siaya County is among more than 1,000 dairy farmers in Western Kenya who have insulated themselves from high commercial feed prices and poor quality nappier grass and in the process increased milk yields and income.
Nigeria’s telecommunications industry, regulated by the Nigerian Communications Commission (NCC), is one of the sectors whose performance lifted the country out of recession in the fourth quarter of 2020.
Imperial Logistics announced it acquired 60% of e-Commerce logistics business, ParcelNinja. ParcelNinja offers an outsourced warehousing and fulfilment business to South African online shops.
InfraCo Africa invests in Acorn Holding’s $10m REIT for affordable student accommodation in Nairobi, Kenya
InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has subscribed to the Acorn Holdings Real Estate Investment Trust (REIT) committing to support the delivery of affordable student accommodation in Nairobi.
[Africa Tech Review] Duncan Mochama: Fintech is driving and reshaping the financial sector in Africa
As a key driver of growth in the region, fintech has become a viable alternative to traditional banking in both urban and rural areas.
Deutsche Bank announced the closing of two lending facilities with the Republic of Ghana. The €150 million financing agreements, guaranteed by the Italian Export Credit Agency SACE, will fund the construction and equipment of two infrastructure projects.
The Global Fund, the Government of the Republic of the Congo and health partners launched the implementation of two new grants to strengthen prevention and treatment services to fight HIV, TB and malaria.
Turboden, Siemens Energy start development of high efficient gas compressor station at GASCO in Egypt
Turboden, the supplier of largest high-temperature ORC system ever built, which, coupled with 20 MWe electric motor driven (EMD) compressors supplied by Siemens Energy, is boosting the efficiency of GASCO Dahshour gas compressor station in Egypt.
UTEC, a global surveying company and part of marine energy and infrastructure services group Acteon, has been awarded survey work by TechnipFMC to support the development of Coral-Sul FLNG project offshore Mozambique.
LG Electronics East Africa has today launched a social impact challenge to support innovative community projects across the country.
Aceleron, the UK developer of circular economy lithium-ion batteries, and Jirogasy, the Malagasy solar start-up, have unveiled a new partnership to deliver solar powered computers to 10,000 children a year across schools in Madagascar and East Africa.
Faulu Microfinance Bank plans to lend up to Ksh.3 billion to local micro, small and medium enterprises (SMEs) to help them recover and grow following the Covid-19 economic turmoil.
The Nairobi Securities Exchange announced the successful integration of its bond system with Refinitiv’s Fixed Income Call Outs application (FICO), an automated workflow that facilitates negotiations and agreements of fixed Income bonds trading terms.
South African digital bank TymeBank, secured an investment amounting to $110 million from Apis Growth Fund II, attracting new investors from the UK and Philippines.
Ebola vaccination of people at high risk kicked off in Guinea as the emergency response was escalated to counter the spread of the virus that re-emerged in the country a little more than a week ago for the first time since 2016.
AstraZeneca Chief Executive Officer, Pascal Soriot, announced that the first doses of the AstraZeneca vaccine have been delivered to Ghana through COVAX.
[South Africa] Sibanye-Stillwater enters battery metals sector through investment agreement with Keliber
Sibanye-Stillwater entered into an investment agreement with Keliber, expected to be implemented in March 2021, subject to the approval by the South African Reserve Bank.
[Nigeria] Mayfair receives Cost and Revenue Sharing Agreement termination letter from Optimum Petroleum
LEKOIL announced that Mayfair Assets and Trusts (Mayfair), in which the Company has a 90% economic interest, has received a letter from Optimum Petroleum, proposing to terminate the Cost and Revenue Sharing Agreement executed for OPL 310.
EnerMech has appointed Celestino Maússe to the newly created role of Mozambique country manager as the company seeks to expand its business as local activity ramps up.
Sapiens International Corporation, the global provider of software solutions for the insurance industry, announced that a Tier 1 South African bank has enhanced its offerings with five additional components of Sapiens IDITSuite for Property & Casualty
The Red Cross teams in Guinea, Liberia, Côte d’Ivoire, Mali, Senegal and Sierra Leone are ramping up response efforts to contain a deadly Ebola outbreak.
Rwanda conservationist and vet Olivier Nsengimana has been on a journey to save the grey crowned cranes from near extinction.
National carrier Kenya Airways (KQ), freight division KQ Cargo, announced the resumption of its cargo services to New Delhi.
Ethiopian Airlines has partnered with UNICEF to help secure the transport of vaccines and other life-saving supplies worldwide.
British Airways operated by Comair, South Africa’s premium full-service airline, announced the reopening of bookings for daily regional flights between Johannesburg and Harare.
The UN’s International Fund for Agricultural Development (IFAD) will now be able to invest $3.8 billion in the world’s rural poor, from an unprecedented record-high financing target set by governments from 177 countries.
FBNInsurance, a Nigerian life insurer and a member of the SANLAM group, has partnered with Collinson to launch SmartHealth International, a market specific international health insurance product for critical medical conditions.
The US International Development Finance Corporation (DFC) and Shell Foundation announced a new collaboration to bring affordable renewable energy to more than 5 million people in low-income areas of Africa and Asia by 2025.
Chariot Oil & Gas signs Collaboration Agreement to fast track Anchois Gas Development project in Morocco
Chariot Oil & Gas signed a Collaboration Agreement with Subsea Integration Alliance to enable the front-end design, engineering, procurement, construction, installation and operation of the Anchois Gas Development project in Morocco.
The World Bank approved $250 million to improve the operational performance of the electricity sector utilities and increase electricity access in selected cities of Angola.
360VUZ, the immersive video mobile app was selected to join the first ever "Google for Startups Accelerator" in the MENA region, that is held by Google as part of its "Grow Stronger with Google Initiative"
Mastercard’s signature science, technology, engineering and mathematics (STEM) program, Girls4Tech™, has officially reached its initial goal of educating one million girls worldwide.
MDXi, West Africa’s largest carrier-neutral data centre and a fully owned subsidiary of MainOne is leading the way in reducing greenhouse gas emission in its quest to promote sustainable development.
Predator Oil & Gas, an oil and gas exploration company based in UK, announced the start of preparations for drilling the MOU-1 well of its project in Guercif, eastern Morocco.
Minbos Resources announced it has received firm commitments from sophisticated investors to subscribe for a placement of approximately 91.25 million fully paid ordinary shares (Shares) in the Company.
Incentro is directly looking for a Senior Java developer in Nairobi
HF Group announced its partnership with Interswitch Group, a digital payments and commerce company, to expand its digital banking services to include International Money Transfer (IMT).
Magnora accelerates growth in South Africa with project portfolio pipeline solar PV and onshore wind
Renewable energy development company Magnora ASA has entered into agreements to acquire 100 percent of the shares in a South African company with a 775 MW greenfield renewable development portfolio.
The Nairobi Securities Exchange (NSE) has joined the 30% club, a global campaign to take action to increase gender diversity in boards and senior management within the workplace.
The OPEC Fund for International Development (the OPEC Fund) signed a $50 million loan with Tanzania to finance the Fourth Tanzania Poverty Reduction Project.
IFC announced a disbursement of a loan to support expansion at Mali's leading mango processor, Centre d'Étude et de Développement Industriel et Agricole du Mali (CEDIAM).
PetroNor announced that the Company's net indirect interest in PNGF Sud, PetroNor’s core asset, will increase from 10.5% to 16.83%.
The Egyptian Ministry of Petroleum and Schlumberger announced the launch of the Egypt Upstream Gateway, an innovative national project for the digitalization of subsurface information.
A.P. Moller - Maersk has accelerated the efforts to decarbonise marine operations with the launch of the world’s first carbon neutral liner vessel in 2023, seven years ahead of the initial 2030-ambition.
The U.S. International Development Finance Corporation (DFC), disbursed a $1 million equity investment in Kasha Global, an e-commerce company that provides women’s health and personal care products to customers in Rwanda and Kenya.
The OPEC Fund for International Development (the OPEC Fund) signed a $20 million public sector loan agreement with Kenya to increase regional connectivity, enhance trade and improve the socio-economic welfare.
Off-grid utilities provider Winch Energy, has partnered with NEoT Offgrid Africa to develop solar mini grids in Uganda and Sierra Leone.
The European Bank for Reconstruction and Development (EBRD) is providing a €300 million financing package to Société Tunisienne de l’Electricité et du Gaz (STEG) to support the stability of Tunisia’s energy sector.
The African Export-Import Bank (Afreximbank) and the African Association of Automotive Manufacturers (AAAM) entered into a Memorandum of Understanding (MoU) for the financing and promotion of the automotive industry in Africa.
Kenyan Small and Medium Enterprises (SMEs) will benefit from expansion of a new warehouse at the Kenya Railways Corporation (KRC) Transit shed with an enhanced storage capacity to handle cargo for small traders within Nairobi and its environs.
Invictus Energy announced it received a non-binding offer for farm-in to the Cabora Bassa Project in Zimbabwe, during the quarter ending December 2020.
Energean announced that AbuQir Petroleum, a Joint Venture between Energean and EGPC, signed an integrated EPCI iEPCI contract to global offshore services provider TechnipFMC for a subsea tie-back located offshore Egypt.
HPS and the Mauritius Commercial Bank (MCB) signed a definitive acquisition agreement whereby HPS will acquire all outstanding shares from MCB.
IFC announced a financing package for leading glassware manufacturer Pasabahce Egypt for Glass Manufacturing S.A.E. to help the company boost exports, introduce cleaner production practices, and create jobs.
The UN Emergency Fund has allocated $15 million from the Central Emergency Response Fund (CERF) in response to Ebola outbreaks in Guinea and the Democratic Republic of the Congo (DRC).
The United Nations World Food Programme (WFP) and the Department of Nutrition, HIV and AIDS in the Ministry of Health received a contribution of €550,000 from the Government of Ireland to support interventions that prevent malnutrition in Malawi.
Integrated container logistics company A.P. Moller - Maersk, announced it will operate world’s first carbon neutral liner vessel by 2023, seven years ahead of schedule.
Bechtel has been selected to supply the coker furnace equipment for the Suez Oil Processing Company’s (SOPC) energy efficiency and upgrade program in Egypt.
FAR announced it received a conditional non-binding indicative proposal from PJSC Lukoil, a publicly traded energy company, to acquire 100% of the shares of FAR at A2.2c cash per share.
The World Health Organization (WHO), listed two versions of the AstraZeneca/Oxford COVID-19 vaccine for emergency use, giving the green light for these vaccines to be rolled out globally through COVAX.
Helium and natural gas company Renergen announced the completion and successful operation of the Company’s first Cryo-VaccTM prototype in South Africa, Johannesburg.
Airlink, the privately-owned regional airline, will launch a convenient new direct service between Cape Town and Walvis Bay, commencing on 02 March 2021.
The African Development Bank announced a 36-month debarment of Global Interjapan, a civil engineering company registered in Kenya, with effect from 24 August 2020.
PGS, in cooperation with ANPG, has begun a new fully prefunded MultiClient 3D survey in the Lower Congo Basin, near the river plume of the Congo in Angola Block 1/14.
The World Trade Organization General Council has selected Ngozi Okonjo-Iweala of Nigeria to become its new Director General making her the first woman and African to hold such a position.
A sustainability fund to help hydropower developers and operators assess their environmental, social and government (ESG) performance is now open to more than 40 countries in Africa, Asia, Europe and the Americas.
IFC is expanding the scope of its support to subnational entities in Morocco through a new partnership with the Wilaya of the Region of Marrakech-Safi and the Regional Investment Center, to attract more investment and improve the business environment.
Multinational oil and gas company bp has joined the IBM Quantum Network to advance the use of quantum computing in the energy industry.
Perth-based energy exploration company Kinetiko Energy announced the successful completion of a well workover program at well KA-03PTR and KA-03PT2 at its Amersfoort project in South Africa.
Unity Homes, a developer of inclusive residential communities, and Rendeavour, Africa's new city builder, are expanding their partnership from Kenya to Nigeria with a 576-unit apartment complex in the Lekki Free Zone in Lagos.
Kenya Government through the Ministry of Industrialization, Trade and Enterprise Development has partnered with Stanbic Kenya Foundation and Microsoft to impart digital skills to over 50,000 entrepreneurs.
As the impacts of climate change become increasingly visible around the world, MTN believes in the benefits of a healthy planet and has pledged its commitment to achieve net zero emissions by 2040.
Equity Group appointed Yves Cuypers as the first Equity Group Holdings Regional Director in charge of the Central and Southern Africa.
The African Development Bank (AfDB), appointed Ifedayo Orimoloye as the Group Chief Risk Officer, effective 1 April 2021.
Thousands of people world over are lending a hand to help save the world’s largest fish – the whale shark.
United Oil & Gas (UOG), the oil and gas company with a portfolio of production, development, exploration and appraisal assets, provided an update on the drilling of the ASH-3 well in the Abu Sennan concession, onshore Egypt.
IFC and Club des Femmes Administrateurs (CFA), a non-profit association in Morocco, signed an agreement to help women attain more leadership positions in the business world.
The World Bank approved an additional financing of $5 million from the International Development Association (IDA) to provide the small island nation of Cabo Verde with affordable and equitable access to COVID-19 vaccines.
ABHBC has presented its plans to mitigate the effects of climate change and improve its energy efficiency in line with Morocco’s climate change and renewable energy vision.
The Government of Denmark reiterated its commitment to support green trade and the fight against COVID-19 pandemic in the East African region, with two financial agreements of $17.5 million.
The Kenya Electricity Generating Company (KenGen) signed a $6.5 million contract withDjiboutian Office of Geothermal Energy Development (ODDEG), to drill three geothermal wells in Djibouti.
IFC signed an agreement with the Moroccan Capital Market Authority (AMMC) that will help companies enhance their reporting on environmental, social, and governance (ESG) practices, paving the way for more green investments.
Ericsson and T-Systems, a subsidiary of the Deutsche Telekom Group, are offering fully integrated campus network solutions to partners worldwide.
Royal Dutch Shell has set out its strategy to accelerate its transformation into a provider of net-zero emissions energy products and services, powered by growth in its customer-facing businesses.
Huawei CEO Ren Zhengfei has called on the new US administration to come up with more open policies that are in the interests of US companies and the US economy as a whole.
UNITLIFE and the Ecobank Group’s Foundation announced the launch of the “Make the Connection” campaign, which aims to raise awareness and funds to prevent chronic malnutrition in Africa.
[South Africa] 2021 Joburg Smart City Innovation Challenge launched, R500k up for grabs
The Prime Minister of Ethiopia, Abiy Ahmed, inaugurated the Bure Integrated Agro-Industrial Park (IAIP) in Amhara State.
Gemcorp, an emerging markets trade and investment group, and ENDIAMA Mining have entered into a joint venture agreement to develop the Mulepe diamond deposit in Lunda Norte, Angola.
IRC Liberia received a $17.8 million grant from the United States Agency for International Development (USAID), to support the government of Liberia’s National Community Health Program.
IFC released its new Social Bond Impact Report, showing cumulative volume raised from the program more than doubled in FY2020, bringing the total to over $3 billion since the program's founding.
The European Bank for Reconstruction and Development (EBRD) is supporting the construction of a dry port and logistics centre in 10th of Ramadan City, Egypt, with a €1 million contribution to project preparation and procurement.
The OPEC Fund for International Development (the OPEC Fund) and Africa Finance Corporation (AFC) have signed a $50 million loan agreement to help finance and build infrastructure needed for Africa’s post-COVID recovery.