More than 20 Nigerian and 60 Chinese suppliers met in a strategic sourcing development forum in Shanghai mid-November in the latest effort by Shell Nigeria Exploration and Production Company (SNEPCo) to boost the capacity of indigenous vendors in the oil and gas industry.
Mobisol receives $25 million funding in six months from Investec Asset Management as follow on investment
Investec Asset Management, through its African private equity capability, has made a follow-on growth equity investment alongside its consortium partners into Mobisol – meaning that Mobisol has secured over $25 million funding in the last six months.
Digital money transfer service WorldRemit has raised $40 million to drive its next phase of global growth, including an expansion of its Egypt operation.
APM Terminals, in conjunction with Naija Pride and with the assistance of international development groups, is working to provide modern cold chain transportation alternatives for farmers in the agricultural centers of northern Nigeria.
Huawei, together with industry alliance and partners in Northern Africa, aims to build ICT ecosystem in Northern Africa in response to industry digital transformation.
Imperial Logistics was recently awarded a revised license for their pharmaceutical bonded warehouse in Centurion, South Africa.
Opera, the Norwegian developer of Opera Mini, the most popular mobile browser app in Africa, has integrated a new web payment platform in Kenya called OPay.
Eagle Technology, Inc., has announced a new international partnership with Production Solutions SA. Together, Eagle Technology and Production Solutions SA will enable factories and manufacturers to implement Eagle’s multilingual CMMS software.
The World Bank and Egypt signed a US$ 1.15 billion loan agreement today to support ongoing reforms that have helped stabilize the economy, mobilized US$17 billion in private investments in the energy sector and enabled the transfer of fiscal resources to social protection programs.
African economists attending the 12th African Economic Conference in Addis Ababa, Ethiopia, have called for more radical monetary policy reforms and an overhaul of the tax policy regime in most countries.
The African Export-Import Bank and Attijariwafa bank today in Sharm El Sheikh, Egypt, entered into a memorandum of understanding to collaborate in developing a large framework of cooperation in trade across Africa.
The African Export-Import Bank, in Sharm El Sheikh, Egypt, entered into an agreement with the Export Development Bank of Egypt to collaborate on a $500 million scheme aimed at supporting exports and investments by Egyptian businesses to other African countries.
Power Africa partners with Africa Trade Insurance to provide access to energy for 50 million in Sub Saharan Africa
Power Africa and the African Trade Insurance Agency (ATI) have partnered to ramp up efforts to provide first-time access to power to 50 million people in sub-Saharan Africa.
ECOWAS Ministers of Finance have validated draft integration instruments meant to enhance a common customs framework for the region.
PepsiCo, Inc. has announced that, effective January 1, 2018, Mike Spanos, currently President, PepsiCo Greater China Region, will become Chief Executive Officer, Asia, Middle East and North Africa (AMENA).
The Secretary General of the Arab Maghreb Union, Dr Taieb Baccouche and senior official are on three days visit to the COMESA Secretariat to discuss possible areas of co-operation between the two regional economic groupings.
Trade Mark East Africa receives $6million from Norway to grow jobs, facilitate trade and reduce poverty in Tanzania
Norway has granted 50 million Norwegian Kroners, $6million, to TradeMark East Africa (TMEA) to support its work in enhancing trade across the East African Community to increase prosperity in the region.
Delegates at the third Ministerial Working Group Meeting on Single African Air Transport Market have called on the African Union Member States to implement the 1999 Yamoussoukro Decision towards the establishment of SAATM by 2017.
World Bank and Government of Rwanda sign agreement to enable financially sustainable expansion of electricity services
The World Bank Group and the Government of Rwanda have signed a $125 million Financing Agreement for the First Programmatic Energy Sector Development Policy operation.
Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), has announced that Asmara will become its first destination in Eritrea, starting from 10 December 2017.
Continuum, the provider of vertically integrated IT service delivery platform that enables businesses to scale has entered into the Southern African market in partnership with Sovaton, the cybersecurity-focused distributors in the channel.
International tax and legal company Andersen Global has partnered with East African Law Chambers, a legal and tax firm in Tanzania.
The United States and Egypt have met under the bilateral Trade and Investment Council.
Africa is doing the right thing in creating the Continental Free Trade Area (CFTA) despite the current retreat from multilateralism, Albert Muchanga, the African Union’s Commissioner for Trade and Industry, said in Cairo today.
Nokia to Nokia has been selected to help MTN Nigeria drive its transformation from network- to customer-centric operations and improve the experience for its 52 million customers.
Barclays Africa, China Development Bank sign agreement to cooperate on development projects in Africa
Barclays Africa Group Limited and China Development Bank have signed a memorandum of understanding aimed at strengthening cooperation and exploring opportunities to fund development projects in Africa.
A.M. Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of “bb” of Custodian and Allied Insurance Limited Nigeria.
The SMB-Winning consortium , a major player in the bauxite sector, has presented to His Excellency Alpha Condé, President of the Republic of Guinea, a project to build an alumina refinery in Guinea
Vivo Energy Holding B.V. has agreed to enter into a share transaction with Engen Holdings (Pty) Limited, a 100% subsidiary of Engen Limited, in relation to the purchase of shares in Engen International Holdings (Mauritius) Limited.
ENGIE announces that an agreement was reached with two South African energy services companies, Thermaire Investments and Ampair to acquire 100% of their respective shares.
The Prime Minister of Italy Paolo Gentiloni and the CEO of Eni Claudio Descalzi visited the FPSO Kufuor, the Floating Production, Storage and Offloading unit in Ghana’s offshore.
Flamingo Horticulture Investments (FHI Ltd), a Sun Capital Europe portfolio organisation, announced that they will make a further investment of $2.4Million in subsidiary business Dudutech, Africa’s leading Biological Pesticide Manufacturer.
[Malawi] Mkango Resources and Talaxis in deal to fund development of the Songwe Hill Rare Earth project
Mkango Resources Ltd has entered into an agreement with Talaxis Limited, a wholly owned subsidiary of Noble Group Limited to fund development of the Songwe Hill Rare Earths Project in Malawi and commercialisation of new magnet technologies.
Net1 UEPS Technologies has announced that its wholly owned subsidiary, Masterpayment has been appointed as a new partner for credit card processing and acquiring for cryptocurrency purchases for Bitstamp.
Africa Oil Corp has entered into a strategic partnership with Eco Atlantic Oil and Gas Ltd. for exploration in West Africa and Guyana.
CemAir Ltd of South Africa has concluded a firm purchase agreement for two new Q400 turboprops from Bombardier Commercial Aircraft and has also signed the lease of a used Q400 aircraft that has been delivered.
The number of African countries represented on the African Export-Import Bank (as participating states and/or shareholders has risen to 49 with the presentation of an Instrument of Accession to the Bank by the Central African Republic.
Millennium Challenge Corporation Vice President for Compact Operations Robert Blau has marked the closeout of the MCC Cape Verde Compact at a ceremony with Prime Minister Ulisses Correia e Silva and U.S. Ambassador to Cape Verde Donald Heflin.
At a time when Africa continues to enjoy increased continental trade and booming business with its international peers, technology has been hailed as a key driver to this success.
Africa’s smallholder farmers are the apex of agricultural output in the continent contributing a staggering 75percent of all agricultural production and creating millions of jobs in the process.
Financiers of the $1.2billion Zambia, Kenya and Tanzania power interconnector meet to raise funds for its completion
Project financers for the 2,300km Zambia Tanzania and Kenya (ZTK) power interconnector are meeting in Zambia to raise funds for the completion of the $1.2 billion project.
Russian biotechnology company BIOCAD and Moroccan pharmaceutical company Sothema Labs have announced the launch of medicines derived using the technology provided by the Russian manufacturer into the North African market.
The European Investment Bank (EIB) has signed its first, landmark agreement with the African Export Import Bank (Afreximbank). The agreement involves a finance facility for EUR 100m from the EIB.
Ringier Africa and One Africa Media (OAM) have consummated the merger to become ROAM (Ringier One Africa Media), the leading classifieds group in Sub-Saharan Africa.
Kenya President Uhuru Kenyatta has announced that any African wishing to visit the country will be eligible to receive a visa on arrival.
The construction of the new port and logistics hub in Tema will have huge benefits for the Ghanaian economy and the livelihoods of Ghanaian people when opened in 2019.
The African Development Bank (AfDB) and other participating co-lenders has signed agreements for the financing of the Nacala Corridor project.
Rectron, a South African distributor of IT products, has announced the addition of Microsoft’s Cloud Solution Provider (CSP) programme to its portfolio, enabling clients to drive their Microsoft cloud business and grow their profitability.
Attivo Networks bolsters security defences across South and Sub Saharan Africa with Networks Unlimited
Attivo Networks®, the leader in deception for cyber security threat detection, has announced a strategic partnership with Networks Unlimited, Africa’s leading value-added distributor.
Eni becomes operator of Cabinda North, strengthens presence in upstream, downstream, trading and renewable sectors in Angola
Eni’s CEO Claudio Descalzi and Sonangol’s Chairman of the Board of Directors Carlos Saturnino have signed an agreement that assigns operatorship of Cabinda North block to Eni, as well as 48% the block’s rights.
Kingsley Wheaton, previously Managing Director, Next Generation Products has been appointed Regional Director, Americas and Sub Saharan Africa (AMSSA), replacing Ricardo Oberlander.
Puma Energy selects WEX IFCS and OTI PetroSmart’s Easy Fuel Plus solution to drive B2B growth in Africa
WEX Inc a global provider of corporate payment solutions, and OTI PetroSmart, a wholly owned subsidiary of OTI have been selected by Puma Energy to support its on-road B2B fueling offer.
Internet Solutions of South Africa, the pan-African telecommunications services provider, and NTT Communications Corporation, the ICT solutions have announced that they have concluded a partnership, in order to deliver NTT Com’s Nexcenter™ data center service in the African continent.
The Acting Chief Executive Officer of Trade Investment Africa at the Department of Trade and Industry, Ms Lerato Mataboge says it is vital for South Africa and Angola to renew and strengthen their economic partnership.
AGC Holdings Limited (AGC) Mauritius, a wholly owned portfolio company of Essar Global Fund Limited (Essar Global), has concluded the sale of 100 per cent of its stake in ESM Holdings Limited, Mauritius
Safaricom’s e-commerce platform, Masoko, is set to start signing international vendors on its online portal in the first quarter of 2018, enabling local customers to purchase items directly from abroad.
The technology group Wärtsilä has received a letter of award for a 95,3MWp (75MWac) solar photovoltaic (PV) power plant in Nigeria.
Mastercard and Nigerian business leaders commit to transforming Nigeria’s cities into strong economic hubs
With half of Nigeria’s population currently living in cities, it is critical that a development framework is in place to ensure future growth is sustainable.
The Islamic Corporation for the Development of the Private Sector, the private sector arm of IDB Group, and BSIC Niger have entered into an agreement to finance SMEs in Niger.
Bombardier Transportation has reached a significant milestone in its rail modernization projects with the Moroccan State Railway, ONCF.
Kirusa, a global leader in communication solutions over data networks for consumers and enterprises, has launched its Konnect Portal to enable enterprises drive customized flash call marketing campaigns.
African Bank can now launch new credit strategies 30 percent faster at 25 percent lower cost and can make changes to credit strategies in two days instead of two months.
CNN Market Place Africa follows a delegation of Kenyan utility managers and policy makers as they travel to the Solar Farm Project in the Californian desert to learn about more about the opportunities provided by solar power.
Africa’s largest cement Company, Dangote Cement Plc has added fillip to the on-going efforts at economic emancipation of Africa by formally opening its 1.5mtpa capacity cement plant in Mfila, Congo Brazzaville,
Traders in Kenya stand to benefit from increased efficiency following launch of the Information for Trade in Kenya web portal (infotradekenya.go.ke), which has consolidated more than 120 documents and procedures.
Experts in port management, policy makers and financiers from across Africa are exploring how to reshape policy and harness the benefits that accrue from maximizing the comparative advantages of land linked countries.
The Kigali Global Shapers has partnered with National Aviation Services, the fastest growing aviation services provider in the emerging markets, for an exclusive sponsor of #VisaFreeAfrica, a global campaign to facilitate mobility in Africa.
Bombardier Commercial Aircraft has signed a letter of intent for up to 24 CS300 aircraft with EgyptAir Holding Company, of Cairo. This includes 12 CS300 aircraft with purchase rights for an additional 12 aircraft.
Louis Berger has been awarded a $1.7 million project management and construction supervision services contract by the Cameroonian and Nigerian governments for construction of a two‑lane bridge over the Cross River at Ekok/Mfum.
Safaricom has launched its e-commerce portal, Masoko. Masoko. Swahili for ‘markets’. aims to leverage the mobile phone to provide local merchants with unlimited potential to sell their products and services via an online platform
The Carlson Rezidor Hotel Group, which is among the fastest expanding hotel groups in the global hospitality space, has recently announced that it is continuing its ongoing growth in Africa, opening a property in its 30th country on the continent: Cameroon.
The Economic Commission for Africa is focusing on essential components of structural transformation, such as sustainable investment in infrastructures and new industries.
Innovative financial solutions like factoring and credit insurance offer keys to the growth of small and medium-sized enterprises (SMEs) in Africa and can enhance regional integration.
A ‘crazy idea’ has resulted in the ability to grow durum wheat in the extreme heat of famine-affected Senegal, Mauritania and Mali, potentially boosting the income for one million farming families.
Purdue University scientists will develop stronger, more versatile varieties of sorghum that have the potential to reach millions of African farmers.
Liquid Telecom closes $180 million senior secured notes tap offering, attracting strong interest from leading international markets
Liquid Telecommunications Financing PLC, part of the pan-African telecoms group Liquid Telecom, has successfully closed a $180 million tap offering of the Issuer’s $550 million 8½% Senior Secured Notes due 2022, at an issue price of 105.0 per cent.
Statistics indicate that 90% of imports and exports in Africa are driven by sea. With a global middle class set to reach 5 billion people by 2030, global trade is set to continue to grow at an unprecedented rate.
John Pombe Magufuli, President of Tanzania and Yoweri Kaguta Museveni President of Uganda and Amb. Liberat Mfumukeko, East African Community Secretary General have launched Mutukula One Stop Border Post (OSBP) located on the Uganda- Tanzania border.
Boeing and AerCap have announced that Egyptair will lease six Boeing 787-9 Dreamliners.
Mastercard enables a new era of payments in Egypt through innovation, collaboration and digitization
Guided by its vision of a cashless world and since the beginning of its operations in the country, Mastercard has made financial inclusion one of its top priorities in Egypt.
[South Africa] Veridium and Wala in pilot digital banking project that authenticates users with biometrics
Veridium, a leader in strong authentication using biometrics has partnered with Wala, a South African-based, blockchain-powered financial services platform for the unbanked, to bring universal financial services to emerging countries in Africa.
To improve performance and visibility into plant and turbine operations, GE’s Power Services business has signed an agreement with Azito Energie S.A. to upgrade two gas turbines at the company’s combined-cycle power plant.
Germany backs renewable energy project in Africa with the launch of RLSF, an innovative liquidity facility managed by ATI
KfW, the German Development Bank, and the African Trade Insurance Agency have unveiled a new instrument to support renewable energy projects in sub-Saharan Africa that targets small- and mid-scale green power energy projects.
Eutelsat Communications, one of the world’s satellite operators has announced a multi-year agreement with La Poste Sénégal, the country’s public postal service company, to interconnect 200 post offices nationwide.
Daimler Trucks & Buses Southern Africa, under the banner of ZIMOCO has unveiled SelecTrucks Zimbabwe. The new centre is located at the Harare Showgrounds.
MARAKEZ, a subsidiary of Fawaz Al Hokair Group, has selected Yardi Voyager® 7S to electronically manage its lease and property management process for its leading shopping mall in Cairo, Mall of Arabia.
[Nigeria] Marriott International and Landmark Africa Group announce signing of renaissance Lagos hotel
Marriott International and Landmark Africa Group have announced the signing of Renaissance Lagos Hotel and Marriott Executive Apartments.
Pan-African ICT investor, Convergence Partners and 4Di Group have announced a recently concluded acquisition of a significant minority stake in ESET Southern Africa by Convergence Partners.
Building on the success of the initial phase of their partnership, Emirates and flydubai have announced 16 additional destinations to which Emirates’ passengers will be able travel on a single ticket.
Pratt & Whitney, a division of United Technologies Corp and EgyptAir have announced the selection of the PurePower Geared Turbofan engine to power up to 24 Bombardier CS300 aircraft.
West Africa has been at the heart of the continent’s growth and economic transformation in recent years.
Soraa, the company behind high-quality LED lighting and illuminator of the world’s most famous historical buildings has announced that its VIVID lamps were chosen to perfectly illuminate the new City of Johannesburg Council Chambers.
The Government of Rwanda has joined the African Access Initiative (AAI), an international public-private alliance addressing Africa’s escalating cancer crisis.
Jean-Christophe Quémard, Executive Vice President, Africa-Middle East of Groupe PSA, has co-signed an agreement in Algiers with the Algerian project partners to create an Oran-based manufacturing company to build cars for the Algerian market.
The Johannesburg Stock Exchange (JSE) and FTSE Russell will extend its existing equity index partnership to also provide a range of co-branded fixed income indices.
Fifteen out of the 19 COMESA Member States as now fully in the regional Free Trade Area with only four countries remaining.
The Lumos Mobile Electricity Service aims to bring power to millions of people who do not currently have access to an affordable, reliable or clean energy supply.
Pan-African telecoms group Liquid Telecom, a subsidiary of Econet Global, has partnered with Huawei, an information and communications technology (ICT) solutions provider, to deliver 100G upgrades to its network in South Africa.
South Africa and the Democratic Republic of Congo have committed to remove hurdles that hinder business interactions between business people of the two countries.
The Republic of Mauritius has launched a US$191 million project supported by the Green Climate Fund (GCF) and the United Nations Development Programme (UNDP).