The Board of Directors of the African Development Bank has approved its third equity investment of $40m in Africa Infrastructure Investment Fund (AIIF3).
AfricaCom is Africa’s largest tech, media and telcos annual festival where digital Africa interacts, learns, debates and ultimately make deals.
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.
Job Mutai is the Co Founder and the Creative Director of New Age Media agency, a marketing, communications and media company based in Nairobi, Kenya.
Africa’s business and finance industries have a critical role to play alongside in helping governments deliver the UN Sustainable Development Goals.
The Director-General of the dti Mr Lionel October said that a key priority of government is to encourage new investment in the economy in order to create jobs that will significantly reduce the levels of unemployment in the country.
Representatives and experts of UN bodies, ECCAS General Secretariat and CEMAC Commission are set to meet in Gabon this month to re calibrate their efforts at delivering support for the sustainable development in Central Africa.
SARS Customs officials intercepted suspected counterfeit clothing and shoes valued at approximately R10 722 364 in the Western Cape.
During the annual AfricaCom conference in Cape Town, MTN Group, KaiOS Technologies, China Mobile Communications Group and UNISOC announced a partnership to launch the world’s first 3G smart feature phone in Africa.
Liquid Telecom is extending its award-winning VSAT service through a new partnership with Kymeta, enabling it to deliver enhanced satellite mobile connectivity across Africa.
The growing appetite for energy in Africa despite unreliable hydro power has birthed renewable energy renaissance.
African countries have been pushing for an open skies agreement to make intra Africa trade and movement cheaper and faster.
The African Development Bank has unveiled the Africa Energy Portal, AEP, a platform that will consolidate, validate, and disseminate energy data and insights across Africa’s energy value chain.
The Director-General of the Department of Trade and Industry (the dti), said that with proper infrastructure, utilities, and management, the twenty-six approved Industrial Parks across South Africa can become Special Economic Zones.
Projects from Egypt’s private sector showed strongly at the just concluded Africa Investment Forum during which transactions close to US$50 billion were promoted by sponsors in three days of Boardroom sessions.
The African Development Bank launched the Africa Energy Portal (AEP) at the Africa Investment Forum in Johannesburg last Friday.
Liquid Telecom has extended the availability of Microsoft Azure from the Cape to Cairo, continuing its lead in the African cloud revolution.
Twiga Foods, a Kenyan mobile phone platform that sells bananas and other produce from small-scale farmers to local vendors and markets is offering local farmers access to a transparent marketplace.
The Central Bank of Kenya (CBK) announced that it has transferred to the Government Consolidated Fund Ksh.800 million from CBK’s General Reserve Fund (GRF) as at end FY2017/18.
Vumatel and Tsebo, two companies funded by Vantage Capital, were recognized as the best medium-size and large-size private equity-backed South African growth champions respectively.
The president of the AfDB and the president of the European Bank for Reconstruction and Development met during the Africa Investment Forum and discussed new avenues for cooperation between the two institutions.
The South African companies that were exhibiting at the 1st China International Import Expo (CIIE) in Shanghai China last week said that there are business opportunities for South African companies in China.
Global Reporting Initiative has appointed Bekeme Olowola, Founderof CSR-in-Action in Nigeria, as a member of its Board of Directors, where she will be joining a leading caste of global sustainability professionals.
Ecobank and the International Federation of Red Cross and Red Crescent Societies (IFRC) have signed an agreement to work closely together to empower local communities to cope with disasters more efficiently.
A group of South African business people is in Germany on an Outward Selling Mission to seek sub-contracting opportunities from the German and European multinationals.
The African Financial Alliance on Climate Change (AFAC) unveiled its guiding principles at the recently concluded Africa Investment Forum.
The World Bank has approved an International Development Association package of $20m to support Djibouti’s efforts to improve the living conditions for residents of urban areas, achieve its Zero Slum strategy.
Kenya targets to attain 100 per cent transition to green energy by 2020 as it scales up investment in renewable energy to address the climate change challenge concretely, President Uhuru Kenyatta has said.
In the recent years, South Africa has continued to prove that it is one of the most diverse and promising emerging markets in Africa. The country has become a key global hub for investment, innovation and research.
The Ministry of Environment and Forestry and members of the Kenya Association of Manufacturers (KAM) will host a public forum on Polyethylene terephthalate (PET).
For every $7 spent on water and sanitation, a community receives $30 worth of benefits according to the World Health Organization.
The African Development Bank (AfDB) and FinDev Canada – the Canadian government’s development finance institution have agreed to collaborate in joint transaction opportunities, external partnerships and best practice to achieve the Sustainable Development Goals in Africa.
The South African filmmakers who returned from the United States of America today are optimistic that their mission will yield positive results in the near future and see them working with the Hollywood companies.
Creation of the right framework and clear policy critical in Kenya’s renewable energy deployment and usage
Creative financing, technological advancements, scalability in renewable energy sources have the potential to propel Kenya’s energy market, according to a 2018 report by global law firm Hogan Lovells.
Kenya has moved closer to to the final phase of developing production of nuclear electricity after the state agency Kenya Nuclear Electricity Board (KNEB) invited expression of interest from consultants to undertake what it described as 'site characterization'.
On the sidelines of the Africa Investment Forum, the African Development Bank and Africa50 have signed an agreement with the Democratic Republic of Congo and the Republic of Congo to develop and finance the first road-rail bridge project linking their capitals – Kinshasa and Brazzaville.
The Minister of Trade and Industry, Dr Rob Davies, says foreign investment if targeted and nurtured can drive economic growth and in turn contribute to much needed job creation and economic inclusion for all.
The Board of Directors of the African Development Bank Group has approved a €117 million loan to finance a Project to Ensure the Sustainability and Security of Access to Drinking Water in Morocco.
Few issues are as emotional as human migration. Images of desperate people on the move – whether trying to cross the US-Mexico border or packed onto rickety boats crossing the Mediterranean Sea have captured world attention.
Ecobank Academy, a corporate university of independent pan-African banking group in collaboration with Ecobank Foundation, has launched an innovative development programme aimed at improving Africa’s health systems.
The President of the Commission of the Economic Community of West African States (ECOWAS) Jean-Claude Kassi Brou has restated the commitment of the Commission to strengthening regional Customs union and an infrastructural upgrade that can sustain the renewed integration efforts within the community.
Irfan Mirza is an IT consultant, project manager and strategist who co-founded Trend Solar, a power solution for rural communities in Africa.
The ECA Office for North Africa has launched the first Report on SDG implementation in Maghreb countries.
Amref Health Africa and UNICEF held a parallel session on strengthening community platforms for Primary Health Care (PHC), during the 2nd International Conference on Maternal, New-born and Child Health in Africa, convened by the African Union Commission.
SADC Executive Secretary, Dr. Stergomena Lawrence Tax received letters of credence from H.E. Mr. Jan Sadek, Ambassador Extraordinary and Plenipotentiary of the Delegation of the European Union to Botswana at the SADC Secretariat Head Office in Gaborone, Botswana.
Food and drink company Nestlé has partnered with early education social enterprise Tembo Education to deliver customized, nutrition-based curriculums to families across Kenya, through SMS and WhatsApp messages.
The African Continental Free Trade Agreement has huge potential to move Africa to dizzy heights of development on the platform of the African Union’s Agenda 2063.
A senior official of the UN Economic Commission (ECA), has told Cameroon’s development planning and statistics authorities that the law of the market, called ‘the invisible hand’ in economics, cannot by itself promote diversification, industrialization and the structural transformation of the economies.
The Cuban Chamber of Commerce has expressed its willingness to assist South African companies and investors who are willing to trade and invest in different sectors of the economy.
The Chairperson of the African Union Commission, Moussa Faki Mahamat, has appointed Ms. Aya Chebbi from Tunisia as his Envoy for the Youth.
Greenlight Planet, a provider of solar home energy products and its partner, Zonful Energy a pay as you go (PAYG) company in Zimbabwe have set an impressive record of distributing 10,000 Sun King™ solar home systems in a short span of four months.
DHL Global Forwarding, the international provider of air, sea and road freight services, has started a partnership with My Dream Now, a Swedish non-profit social enterprise that provides mentorship programs to school children and youth from lower-income backgrounds.
The South African filmmakers who are in the United States of America on an Outward Film and Television Investment Mission told American studios that utilizing the services of black filmmakers for their productions was not tantamount to compromising quality, lowering the standards and diminishing excellence.
The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) program has signed a financial procedures agreement with the World Bank-led Women Entrepreneurs Finance Initiative (We-Fi).
The African Development Bank (AfDB) has approved a sovereign loan of US$229.5 million to the Republic of Uganda to finance phase one of the Kampala-Jinja Expressway project.
The number of enterprises have doubled in the village of Gitaraga, Rwanda, since MeshPower’s solar mini-grid was set up last May.
The Technical University of Munich (TUM) and Kwame Nkrumah University of Science and Technology (KNUST) in Ghana will become partners in innovation and sustainable development.
The Mastercard Foundation has announced a new fund that will enable young changemakers to seed and kick-start promising social ventures and community projects, creating economic opportunities for themselves and others.
Rwandan President Paul Kagame and Alibaba Group Executive Chairman Jack Ma have witnessed the signing of three Memoranda of Understanding between the Rwandan Government and Alibaba establishing an lectronic world trade platform hub in Rwanda.
The tech startup fever has been spreading across the globe like bush-fire and Africa has not been left out in this bandwagon. More and more people are entering into the tech space because technology never gets old and new inventions keep evolving.
The Republic of Seychelles has launched the world’s first sovereign blue bond—a pioneering financial instrument designed to support sustainable marine and fisheries projects.
Malawi is the latest beneficiary of two regional integration projects expected to spur the leather and textile industry in the country. These are: a state of the art Leather Design Studio and a Garments and Textiles Incubation Center.
World Bank Approves $293 Million to Boost Regional Integration and Technical Training in East Africa
The World Bank today approved a $293 million International Development Association (IDA)* credit and grant to increase access to and quality of Technical and Vocational Education and Training (TVET) Institutes and to support regional integration across East Africa.
One of Nigeria’s foremost traditional rulers has challenged Africans and development experts to rethink development financing to reach the poorest communities on the continent, to give them access to markets, education and healthcare.
South Africa and Germany are poised to strengthen bilateral relations and to work together closely in pursuit of African development and global peace and security.
Unconditional cash transfers paid to vulnerable populations as regular, predictable income support is now an established programmatic strategy to combat poverty and social exclusion and build resilience to shocks in Africa.
The Capital Markets Authority (CMA) has granted approval for the cross-listing by introduction of Bank of Kigali Group Plc (BK), a holding company of Bank of Kigali Plc, BK Insurance, BK Capital and BKTecHouse, on the Nairobi Securities Exchange (NSE).
A staff team from the International Monetary Fund (IMF), led by. Michel Lazare, visited Dakar between October 18-31, 2018 and engaged in discussions as part of the 2018 Article IV Consultation and the seventh review of the IMF’s Policy Support Instrument (PSI) approved in June 2015.
The IMF staff team and the Egyptian authorities have reached a staff-level agreement on the fourth review of Egypt’s economic reform program, which is supported by the IMF’s SDR 8.597 billion .
A group of South African filmmakers is in the United States of America to participate in the American Film Market in Los Angeles. The group is on an Outward Film and Television Investment Mission t that is organised and funded by the Department of Trade and Industry (the dti).
A staff team from the International Monetary Fund (IMF) has completed its October visit in Cotonou, Benin. The visit was to hold discussions on the third review of the three-year economic and financial program supported by the IMF under the Extended Credit Facility (ECF) arrangement with the Republic of Benin.
At the Regional Investment Agency (RIA) for the Common Market for Eastern and Southern Africa (COMESA), we are fully committed to drive investment into and across the COMESA region, and Africa as a whole.
The AfDB launched its Room2Run initiative last month which effectively freed up $700m off the bank’s balance sheet. We spoke to Raza Hasnani from Africa50 fund who helped structure the deal.
MTN Group has announced its Sudan operation as the winner of this year’s 21 Days of Y’ello Care employee volunteerism programme. The programme, which ran for 21 days in June, saw over 9000 employees across the company’s footprint dedicating their time and efforts to uplifting local communities.
A new project aiming to reduce carbon emissions in Africa, The Urban Pathways project, has been launched by UN-Habitat in partnership with UN Environment and the Wuppertal Institute.
About 70 stakeholders comprising executives and planning experts, statistics executives and experts, members of the civil society and representatives from the private sector will converge in Yaounde to review and validate two ECA studies on accountability and statistics in development planning in Cameroon.
UNIDO's Investment and Technology Promotion Office (ITPO) in Tokyo continues to foster international engagement towards TICAD7 as it hosted a very well attended multi-stakeholder dialogue on the "Africa and TICAD7" cooperation.
The Southern African Development Community (SADC) Centre for Renewable Energy and Energy Efficiency (SACREEE) was inaugurated in Windhoek, with several high-level interventions from the energy sector.
The African Development Bank has approved the Africa Disaster Risks Financing (ADRiFi) Programme, the institution’s first climate risk management programme to boost resilience and response to climate shocks in regional member countries.
The Deputy Minister of Trade and Industry, Mr Bulelani Magwanishe and the Free State Member of the Executive Council for Economic, Small Business Development, Tourism and Environmental Affairs, Ms Limakatso Mahasa will officially launch the revitalised Phuthaditjhaba Industrial Park.
The transformation of trade in Africa is a task that all African financial institutions must collectively pursue as major stakeholders in the African Export-Import Bank in its quest to facilitate African trade.
The African Development Bank Group has approved a US$15 million grant from the African Development Fund for a water supply and sanitation project in Malawi, expected to provide jobs and boost the livelihoods of nearly 300,000 people.
Kenya is set to become one of the top five fastest-growing economies in Sub-Saharan Africa, with a projected rebound in GDP growth to 6% in 2018 and 7% by 2019 according to a Jumia hospitality report.
Blockchain technology came into being in the early 2009. This invention was faced with a lot of backlash as most people lacked prior information about it and were therefore not ready to risk investing in it.
Australian mining company Volt Resources (ASX:VRC) has formally received mining licenses ML 591/2018 and ML 592/2018 from the Mining Commission of the Ministry of Minerals of Tanzania.
Through the African Development Fund’s recent envelope of financial instruments, Malawi has received US$14 million for scholarships and infrastructure for its Higher Education, Science and Technology (HEST) program.
Mastercard in partnership with M-KOPA Solar and Centenary Bank, celebrated the first ‘pay-as-you-go’ QR transaction this week, officially launching the initiative, which provides a simple and inexpensive way to power the homes and businesses of Ugandans.
Naspers has announced the executive leadership team for the newly formed MultiChoice Group (formerly Naspers’ Video Entertainment business).
After a prolonged period of economic stagnation and decline, African economies have experienced rapid growth over the last two decades. Poverty and malnutrition have fallen steadily during that period.
The US Department of Commerce has granted product exemptions for imports of 161 aluminium and 36 steel products from the Section 232 duties that the United States imposed against foreign imports.
International mining company Asanko Gold Inc. has launched the Asanko Women in Mining “Botae Pa Initiative” at the Asanko Gold Mine, AGM, in Ghana, West Africa.
The World Bank, in collaboration with United States Agency for International Development (USAID) and UNICEF, have announced plans to conduct a Technical Learning Session on Inclusive Education in Nairobi, Kenya. The event is co-hosted by the Government of Kenya
The Board of the Green Climate Fund (GCF) has approved funding for three proposals from the African Development Bank totaling over $110 million.
South Africa has won the top global award at the United Nations Investment Promotion Awards for its excellence in boosting investment sectors that have social and economic benefits and help countries meet the Sustainable Development Goals (SDGs).
Limpopo spices manufacturer and founder of Phuti Food Manufacturing company says the main motivation behind the showcasing of his range of spices at the 27th edition of the Salon International de l’alimentation in Paris, is to establish new clients.
Amref Health Africa (global) and the Amref Health Africa office in Spain received the Princess of Asturias Award for International Cooperation in Oviedo, Spain at a ceremony officiated by the King of Spain Felipe VI.
The Development Bank of Southern Africa (DBSA) has announced that it has been awarded funding to the value of USD$55.6m from the Green Climate Fund (GCF) to establish a R2 billion Climate Finance Facility.
Due to an exceptional harvest and tourist arrivals that reached levels last seen in 2010, GDP growth in Tunisia have accelerated in the second quarter of 2018 to 2.8 percent, up from 2.5 percent in the first quarter.
Finnish financial group Taaleri is set to acquire a 20 per cent stake of private equity investment firm Cytonn. The move is meant to provide the investment firm with a strong anchor investor ahead of its Initial Public Offering (IPO) scheduled for next year.
Development projects financed by the International Fund for Agricultural Development (IFAD) have contributed to better living conditions and less poverty in rural areas of Tunisia.