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[Free Webinar] E-commerce Evolution: The Future of Finance with Digital Payments in Africa
Master the skill of leveraging digital payment solutions to enhance transaction efficiency, cater to diverse payment preferences, and manage risks associated with foreign exchange and transaction security.
Africa Business Communities launches operations in the Middle East
The company supports doing business in Africa through marketing and communication services, custom media productions and market research and has the largest LinkedIn community in Africa with over 1.2 million followers.
L'Oréal is the world’s most valuable cosmetics brand, report
The iconic French brand continues to outshine its competitors, boasting a brand value approximately 80% higher than its closest rival.
Corporate communications agency LCH Consultancy appoints Evelyne Wangui as Director of media relations
As Director of Content and Media Relations, she will be pivotal in strengthening strategic services across the African region.
Pan-African legal firm Centurion Law Group rebrands as CLG
The rebrand aligns closely with the firm’s mission to consolidate its position as the leading legal practice and business advisor in an ever-evolving energy environment.
MENA region leads global growth in luxury travel, report
The appetite for new experiences in unexplored destinations, micro-trips and ‘bleisure’ will likely drive the growth of the global luxury travel market
African Union and Google Africa launch campaign to celebrate the creative economy
In celebration of Africa Month,YouTube creators across Africa are invited to share short videos capturing their unique perspectives using the #DiscoverMyAfrica hashtag.
EIB’s Water Sector Fund invests €10 million to support innovative businesses in Africa and Asia
W2AF is a “water-focused” blended finance impact fund targeting sustainable and scalable solutions that improve access to safe, affordable drinking water for underserved populations, mainly in Sub-Saharan Africa and South and Southeast Asia.
[Zoom Event, April 11 2024] Global Strategies for Success in Africa: Overcoming FX and Payment Hurdles
This event explores the vast potential and unique challenges of expanding businesses in Africa, focusing on mastering international pitches, understanding cultural nuances, and crafting pitches that highlight unique value propositions.
Mastercard and Women Choice expand partnership to invest in women entrepreneurs
Women Choice - an international organization dedicated to advancing women's personal and professional development - launched the pilot cohort in 2023.The next cohorts will be participating in the new programs this year and will aim to impact 50,000 women.
Unilever accelerates Growth Action Plan by launching productivity programme
Unilever has announced steps to accelerate its Growth Action Plan (GAP) through the separation of Ice Cream and the launch of a major productivity programme.
Nissan Africa announces regional appointments
Jordi Vila, currently Nissan Divisional Vice President Marketing and Sales Europe has been appointed as President Nissan Africa, as DVP.
Mark-Anthony Johnson: Is Africa splitting in two?
Mark-Anthony Johnson: Is Africa splitting in two?
Africa’s vibrant and sustainable creations
In many African communities, creativity knows no bounds. A unique and fascinating trend has emerged, where individuals repurpose flip-flops into remarkable crafts.
Nissan Navara to fly the flag up through Africa in daring expedition
Dubbed Nissan Daring Africa 2024, the expedition will visit Mozambique, Zimbabwe, Zambia, Malawi, Tanzania and Kenya before ending in Egypt.
[Webinar] Complimentary expert session for Telecom leaders and Startups in Africa, March 21
Designed for telecom leaders and startups, thia event offers invaluable strategies for expanding services, managing FX risks, enhancing cross-border payments, and establishing credibility in the international arena.
Xsolla unveils new payment methods for gamers in Africa
This move addresses the unique financial landscape of Africa, where a significant portion of the population, particularly in regions like Ghana and Uganda, remains unbanked.
Southern African tourism stakeholders to get new regional disaster risk management and crisis communication plan
The SADC Business Council Tourism Alliance has concluded the successful completion of a pilot project on tourism disaster risk management and crisis communication for the Southern African Development Community (SADC) region.
IATA announces first signatories to Air Cargo Digitalization Leadership Charter
The Digitalization Leadership Charter aims to accelerate the air cargo industry’s digitalization journey by committing to five key guiding principles.
Village Capital unveils programme targeting African startups focused on greentech
The programme is designed to advance innovative and sustainable solutions, actively contributing towards building resilience and mitigating the effects of climate change across Africa.
AFC Joins Ecobank and Soto Gallery to Host +234Art International Art Exhibition to empower African artists
AFC has joined forces with Ecobank Nigeria and Soto Gallery to host the +234Art Fair, a 10-day international exhibition intended as a springboard to promote Africa’s art and its artists.
[Column] Farai Bayai Ncube: Bridging gender gaps in Africa’s creative sectors
The Creative DNA programme, initially successful in Kenya with three completed cohorts, has expanded to Ethiopia, Senegal, and Uganda, and plans to launch in more sub-Saharan African countries.
IATA partners with Smart Freight Centre on carbon emission calculations
The two organizations will focus efforts on developing the cargo component of IATA’s CO2 Connect offering, which successfully launched its passenger version in 2022.
DP World launches global freight forwarding network
In response to increasing disruptions to global trade – from climate change, geopolitics and macroeconomic challenges – DP World has embarked on a bold initiative to bolster its commitment to its customers.
IBM commits $45 million towards resilient cities
IBM also announced that it would increase investment in the pro-bono social impact program by 50%.
Global HR company Deel to acquire African payroll firm PaySpace
Global HR company Deel has announced that it is acquiring African-based payroll and HR solution company PaySpace for an undisclosed amount. It is one of Deel’s largest acquisitions to date.
Aviation experts push for a Model Bilateral Air Services Agreement
Aviation officials from the Eastern Africa-Southern Africa and Indian Ocean region are making steady progress in reviewing and having a model Bilateral Air Services Agreement (BASA) that conforms with the provisions of the Yamoussoukro Decision of 1999.
IATA and The Weather Company to provide enhanced turbulence-related weather data to airlines
With this enhancement, participating airlines will soon be able to access Eddy Dissipation Rate (EDR) turbulence data directly through Fusion and Pilotbrief tools by The Weather Company.
Lilium Group and Didier Drogba Foundation are now co-owners of Team Drogba in the E1 World Championship
Lilium Group, the parent company of Vista Group the African financial services group, and the Didier Drogba Foundation announce that they are co-owners of Team Drogba in the E1 World Championship.
DFC reaffirms commitment to scaling investment in African infrastructure and critical minerals
Deputy Chief Executive Officer (DCEO) Nisha Biswal traveled to South Africa and Zambia as part of the largest U.S. government delegation to Mining Indaba and the first Lobito Corridor Investors Forum and to deepen DFC’s investments on the continent.
TradeMark Africa partners with global organizations to boost international trade
With TMA funding of $4 million, IOTA developed TLIP, a system built on the distributed ledger technology providing a transparent and secure electronic exchange of trade information in international supply chains.
Uber is the world's most valuable mobility brand, study
Uber remains the world's most valuable mobility brand, with a 28% increase in brand value to $29.7 billion, according to the latest report by Brand Finance, the global brand valuation consultancy.
African healthtech shows resilience with mere 2% decline in funding while broader tech ecosystem plunges in 2023, report
Healthcare consulting firm Salient Advisory has launched its latest Intelligence Report, presenting findings on funding activity, covering grant, equity, and debt investments for African healthtech startups in 2023
Digital commerce in Africa to expand 25% per year by 2026, report
Africa has emerged as a frontier for the new online consumer class, representing an estimated 10 million new consumers in 2024 and trailing only Asia as a region. This is according to the new annual Beyond Borders digital payments and commerce report by EBANX
TradeMark Africa receives $63 million from Netherlands to advance sustainable trade
This strategic investment will fuel TradeMark Africa’s Strategy 3, covering the period till 2030, aimed at driving green, sustainable economic growth, fostering innovative trade practices, and promoting inclusive trade across Africa.
How to expand health insurance coverage in Africa?
In many regions of Africa, access to affordable, high-quality healthcare is still a problem.
[Nigeria Business Week] Andrea Ayemoba: Local fintech spreads to East Africa, oil and gas find major milestone
Nigeria, like other countries of the world, is going through some economically turbulent times. Inflation is on the rise (recently pegged at 21.9%) and local startups are directly impacted by financial crises on the other side of the world.
[East Africa Business Week] Bob Koigi: Banking on innovations, partnerships to grow financial services sector
These developments have led to improved services and a robust sector that is shaping the region’s financial services industry dynamics.
[East Africa Business Week] Bob Koigi: South Sudan remains a strategic player in the region’s petroleum industry
Owing to its strategic position at the heart of a wider Nile Basin-East Africa hydrocarbons-rich area, South Sudan is emerging as the hub for petroleum industry services and exploration in the region.
[Nigeria Business Week] Andrea Ayemoba: Banks rally behind women-led SMEs
The NNPC has an approximated value of 50 trillion naira. With oil and gas infrastructure in Nigeria constantly plagued by mischief and vandalism, an ECOWAS expert has profferred a very interesting solution to this persisting problem
[Nigeria Business Week] Andrea Ayemoba: Telecoms slide into banking, Central Bank ups interest rates
The last few days have shown us developments and setbacks, statistics that show growth on the one hand and room for improvement on the other.
[Nigeria Business Week] Andrea Ayemoba: Clean energy gets funding amid inflation and trade deficits
Oil and Gas has been a pillar supporting the Nigerian economy for a very long time. Rich in this natural resource, Nigeria may be guilty of neglecting other promising sectors, like Agriculture and even Insurance.
[Nigeria Business Week] Andrea Ayemoba: Government, Central Bank turn focus to the startup movement
There’s an ongoing comparison in Nigeria's status quo that is causing some rift – the national statistics and reports are showing a promising and stable economy, but the situation on-ground reflects a different reality.
[Nigeria Business Week] Andrea Ayemoba: Nigeria sets course to unify industry benefits, lead Africa's 5G
Following a turbulent year of stock market fluctuations, restrictions related to an ongoing pandemic and varying economic instabilities, predictions on Nigeria’s performance last year ranged from inferior to mediocre to excellent.
[Nigeria Business Week] Andrea Ayemoba: Come dry season, food production and supply chain gain emphasis
As we have established time and again, fertile lands and an able, skilled workforce are a vital combination for a thriving agricultural sector.
[Column] Mthokozisi Maphumulo: Business insurance policies to rescue business amid the recent unrest and looting in South Africa
The recent events of unrest and looting of shops in South Africa, particularly in KZN and Gauteng have certainly been worrying for business owners.
[Column] Kumar Utpal: What is needed to streamline South Africa healthcare
Most people have heard stories about inefficiencies, unexpected costs or redundant re-testing while visiting medical facilities across the globe. I have a few, such as having to re-run tests because my regular specialist couldn't be reached.
[Column] Travys Wilkins: Is this the insurance industry’s new normal?
When government first announced a national lockdown back in March, countless businesses were left scrambling to make working from home, work.
[Interview] Adan Abbey, President, Horn of Africa Insurance, Somalia
Adan Abbey is the President of Horn of Africa Insurance that serves the Somaliland and Somalia market.
[Nigeria Business Week] Industries partner to reach common goals
The sectors are revving up to keep up momentum as the 2019 opens new doors for Nigeria’s stride toward economic balance.
[Nigeria Business Week] Calling for free-trade, efficient energy
The possibility of free trade within Africa is an ongoing one, to which several African countries have pledged their support and signed their agreements. Though Nigeria has shown caution in joining The Agreement, its one champion is Aliko Dangote, Nigerian industrialist and wealthiest African.
[South Africa Business Week] JSE grows listing portfolio
This week, the ever aggressive South African business world has seen two major companies, Vivo energy and Naspers all set to list on Johannesburg Stock Exchange (JSE).
[South Africa Business Week] Monash South Africa is now AdvTech owned
ADvTECH has announced the acquisition of Monash South Africa (MSA), a leading South African private tertiary education institution with students from more than 50 countries.
[Nigeria Business Week] Towards self-dependence, reduced importation
As industries grow, so does the job market, consumer satisfation and investor confidence. Nigeria is gaining a reputation as fertile ground for both business expansion and takeoff point for startups.
[Nigeria Business Week] Ensuring co-operation and diligence in trade
There is no shortage of opinions with regards to what needs to be done to improve economies of Africa. Experts from diverse fields advocate for different solutions, some tailored to fit their field interests, others seeming to stem from a place of general betterment.
[Kenya Business Week] Towards affordable housing
As Kenya aims for mid- level economic status it has set targets it hopes will propel it to this dream.
[Nigeria Business Week] Collaborations birth opportunities
The forming and maintaining of strategic, mutually beneficial partnerships is pertinent to the development of any economy, especially a growing one like Nigeria.
[Kenya Business Week] Towards sustainable businesses, public private partnerships and courts to the rescue
Kenya’s business landscape has this week continued to register mixed fortunes with key sectors, including banking, agribusiness, horticulture and insurance featuring prominently.
[Column] Christian Mahncke: South Africa continues to tippy-toe into the cloud
Research shows that 93% of South African companies are developing a cloud strategy, and are either in the implementation stage, or in the planning stage, of their cloud journey.
[Column] Ashok Shah: Digital trends driving insurance in Africa
The past few months have seen digital becoming more integrated with industry sectors across Africa. But it is the data-rich environment of insurance that has especially benefitted from this with several trends emerging that impact on the effectiveness of its delivery in the continent.
[Column] Ashok Shah: Capitalising on new insurance opportunities in East Africa
Consolidation is taking place in the East African insurance market due to rising capital requirements and mergers with international firms that want to gain a foothold in the region. Ashok Shah, Group CEO of APA Apollo examines the opportunities this brings.
Why Does Your Business Need Commercial Auto Insurance?
If you are a business owner, small or large, the importance of having auto insurance should be paramount.
Global travel insurance market to reach $119 billion by 2030, report
The growth of the global travel insurance market is driven by factors such as rising tourism demands post the pandemic are boosting the growth of the travel insurance market.
[Nigeria] Insurance startup Etap gets $1.5m pre-seed
Only 21% of the 12 million registered vehicles on Nigerian roads have genuine motor insurance, as the rest either have fake certificates - with the owners mostly unaware - or are not covered at all.
[Egypt] Senate gives final approval for new insurance law
Following over a month of debates, Egypt's Senate approved on Monday a new government-drafted unified insurance law, which one MP described as necessary to cover a host of professions and services recently introduced into the insurance industry.
[Egypt] Catalyst Partners acquires 25% of Public Partners Insurance Brokerage
Catalyst Partners Holding has announced the acquisition of a 25% stake in Public Partners Insurance Brokerage (PPIB).
2022 InsurTech Trends: Anti-fraud analytics booms as cyber war rages
Fraud and analytics and AI leader SAS. The State of Insurance Fraud Technology study reveals that 80% of insurers use predictive modelling to detect fraud, up from 55% in 2018.
AATB Program inks 2022-2023 Country Program with Tunisia to deepen cooperation framework
The Arab Africa Trade Bridges (AATB) Program and Republic of Tunisia signed the 2022-2023 Country Program with the aim of developing a cooperation framework.
[Kenya] Equity Group diversifies into the insurance business
A life insurance license has been issued to Equity Life Assurance (Kenya) Ltd which is fully owned by Equity Group Insurance Holdings Limited (EGIHL), a subsidiary of Equity Group.
[Ghana] Hollard and GEA partner to launch Asomdwee insurance policy for MSMEs
Hollard Ghana has partnered with Ghana Enterprises Agency to launch Asomdwee, a tailored insurance product for MSMEs in Ghana aimed at providing security for their business.
Nigerian Exchange lifts NEM Insurance suspension
The suspension placed in the trading of equities of NEM Insurance has been lifted by the Nigerian Exchange, a circular from the bourse has confirmed.
[Nigeria] Cornerstone Insurance, NEM partner on new scheme
Cornerstone Insurance and NEM Insurance have announced an agreement to provide a group personal accident social welfare scheme known as ‘Eagle Social Welfare Scheme’ to all Nigerians across the country.
Insurpass partners AXA Mansard for easier access to health insurance for Nigerians
Insurpass, an insurance technology company has partnered with AXA Mansard, a leading player in the insurance and asset management sector to provide access to affordable insurance coverage for emerging customers in Nigeria.
African Trade Insurance Agency supports $67 million solar plant in Malawi to fill energy gap
In sub-Saharan Africa, electricity access stands at just 43%, or roughly half the global access rate. While challenges remain, COVID-19 is also revealing the importance of increasing more affordable renewables within the energy mix.
East Africa insurer MUA picks Moody’s solutions to meet global reporting standards
Moody’s Analytics has announced that MUA, a composite insurer operating across Mauritius and East Africa, will be using the Moody’s Analytics RiskIntegrity™ for IFRS 17 solution and the Moody’s Analytics Scenario Generator to meet the reporting requirements.
Santam pays out R870m in relief to hospitality and retail services in South Africa
Santam, South Africa’s largest short-term insurer, has paid out, R870 million, nearly all of its R1 billion interim relief funds, in just over three weeks to the hospitality, leisure and non-essential retail services industries.
[Kenya] ZEP-RE urges insurers to rethink price undercutting as industry’s underwriting revenue tumbles
Players in the insurance sector have been urged to rethink their predatory pricing strategies as it is hampering the growth of the insurance sector, according to ZEP-RE Chief Executive Officer Hope Murera.
Manuel Moses appointed CEO of The African Trade Insurance Agency
Mr. Manuel Moses, a veteran of the World Bank’s IFC, has been appointed the new Chief Executive Officer of The African Trade Insurance Agency, ATI.
[Nigeria] Custodian signs agreement with UAC to purchase 51% of UPDC
The Board of Directors of UAC Nigeria announced a binding agreement has been signed with Custodian Investment to purchase a 51 percent equity interest in UACN Property Development Company (UPDC) from UAC.
Total Ghana partners with Star Assurance to boost motor insurance uptake
Total Ghana and Star Assurance have collaborated in putting together an enhanced loyalty scheme aimed at rewarding mutual clients in the transport sector.
WCFCB prepares to cover domestic workers in Zambia
In an effort to cover the informal sector in Zambia, Workers’ Compensation Fund Control Board (WCFCB) has embarked on a programme to extend social protection to the informal economy and domestic workers will be given priority this year.
Nigeria becomes a full member of the African Trade Insurance Agency
Nigeria has become a full member of the African Trade Insurance Agency (ATI), joining ahead of others that are fast-tracking membership given the trade and investment insurance challenges during the COVID-19 pandemic.
[Nigeria] AXA Mansard sells 100% equity in pension subsidiary to Eustacia
AXA Mansard Insurance has announced the divestment from its subsidiary, AXA Mansard Pensions Limited, according to a notice of sale of pensions subsidiary forwarded to the Nigerian Stock Exchange.
PayAngel partners with Allianz Life Insurance Ghana to launch new remittance product
PayAngel Money Transfer has partnered with Allianz Life Insurance Ghana to introduce a new revolutionary remittance product, the RemitCare Plan, to the Ghanaian market.
[South Africa] Santam commits R1 billion in relief to contingent business interruption clients
Santam will pay up to R1 billion in urgent relief to policyholders in the hospitality, leisure and non-essential retail services industries who have the Contingent Business Interruption (CBI) extension in their policy cover with the company.
South African Reserve Bank imposes administrative sanctions on three life insurers
The South African Reserve Bank (SARB) has imposed administrative sanctions on three life insurers and directed them to take remedial actions.
Cititrust launches culture transformation journey in Nigeria
Financial services holding company Cititrust has launched its culture transformation journey aimed at delivering excellent service and world-class customer experience in Nigeria.
[South Africa] Sanlam achieves solid results despite volatile investment markets, report
Sanlam reported solid results in the four months to 30 April despite challenging investment market conditions caused by the global impact of the Coronavirus.
Sanlam acquires FBN Insurance Nigeria
Sanlam has acquired the remaining stake in the Nigerian insurance business FBN Insurance from its partner, FBN Holdings Plc (FBNH), giving the Group 100% ownership of FBN Insurance Limited (FBNI) and its subsidiary, FBN General Insurance.
[South Africa] Unemployment Insurance Fund pays out R15bn
The South African Department of Employment and Labour says the Unemployment Insurance Fund (UIF) has to date paid in excess of R15 billion to beneficiaries.
[South Africa] Standard Bank continues insurance cashback offering
Standard Bank Insurance announced it will continue its 25% cashback relief on car insurance premiums for a second month to the end of May 2020, with clients so far having received cash back amounting to more than R15 million.
[Kenya] BTB Insurance to pay KRA Kshs.35 million in taxes
The Kenya Revenue Authority (KRA) is set to collect Kshs. 35 Million in taxes from BTB Insurance Brokers following a decision in its favor by the High Court.
[South Africa] Employers of domestic workers, farm labourers called upon to apply for UIF lockdown benefits
The Department of Employment and Labour is making all efforts to reach domestic workers and farm labourers so that they can benefit from the COVID-19 relief scheme.
MIGA insures Actis Energy investment in South Africa’s renewable energy sector
MIGA has issued guarantees in support of the construction, ownership and operation of two solar photovoltaic power plants in South Africa’s Northern Cape, and two wind power plants in the Eastern and Western Capes.
Government, international players drive Djibouti’s insurance market
The Djibouti insurance sector is expected to grow at a considerable pace in coming years owing to the improving socio-economic growth of the country.
[South Africa] UIF pays R9.5 billion to workers
The Unemployment Insurance Fund (UIF) has disbursed almost R9.5 billion through the COVID-19 Temporary Employer/Employee Relief Scheme (TERS).
Togo joins African Trade Insurance Agency
The Government of Togo has announced completion of the country’s membership in the African Trade Insurance Agency (ATI), becoming the 18th African sovereign shareholder.
AM Best downgrades Kenya Re Issuer Credit Rating Outlook to negative
AM Best has revised the Kenya Re's outlook of the Long-Term Issuer Credit Rating to negative from stable.
Brokerslink strengthens African presence with new broker in Republic of Congo
Global broking business, Brokerslink, has announced the addition of African broker Gramon to its international network.
[South Africa] Driving data shows people are staying in lockdown more than US, UK
South Africans have been generally more observant of lockdown rules than their peers in countries such as the US and UK, car-usage data from Standard Bank Insurance suggests.
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COLUMNS.
[Column] Louis Avenant: Trends for African telcos in 2024
Africa’s vibrant telco sector is set for a bumper year in 2024 as it expands operations and broadens service offerings ...read full column here
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[Column] Virodh Sunderlall: What to expect from South Africa’s cybersecurity landscape in 2024
As widely reported last year, South Africa received the most cybersecurity threats on the continent by far ...read full column here
[Column] Stephen Bottger: The power of data analytics to revolutionise public safety
The use of applications, technology and data analytics can play a significant role in public safety globally ...read full column here
INTERVIEWS.
[Interview] Chester Wisniewski, Director of Global Field CTO, Sophos
Chester Wisniewski, the Director of Global Field CTO at Sophos, emphasizes several key trends and predictions for the cybersecurity realm in the coming year … read full interview here
[Interview]: Daniel Otu, Koa’s Production and Operations Director & the factory project lead
Daniel Otu, Koa’s Production and Operations Director & the factory project lead, touched on the challenges faced, the importance of sustainability, the role of local culture, and the lessons that shaped Koa’s future vision … read full interview here
[Interview] Oluwole Eweje, CEO-WATT Renewables Corporation
We provide sustainability for communities, especially communities that have very few businesses … read full interview here