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MTN selects M&C Saatchi Abel as its global marketing partner
M&C Saatchi Abel was selected following a meticulous process for their expertise in fostering growth and enhancing brand value for multinational corporations.
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.
[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.
Transcorp Power lists on Nigerian Exchange
Following its listing on NGX, the company made its Facts Behind the Listing presentation and showcased its performance and strategy to stakeholders.
IBM commits $45 million towards resilient cities
IBM also announced that it would increase investment in the pro-bono social impact program by 50%.
GE Vernova commits to support sustainable energy transition in Nigeria
Nigeria, one of Africa's economic powerhouses, faces a dynamic energy landscape characterized by a growing population, industrialization, and a rising demand for electricity.
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.
[South Africa] Sasol and Transnet announce rail transport partnership
Under the five-year agreement, Transnet will deliver ammonia from Sasol’s Secunda and Sasolburg facilities to the company’s customers through a dedicated fleet of 128 ammonia tankers. In turn, Sasol will fund Transnet’s maintenance and repair programme for the fleet.
Canon and MindMe International partner to empower Kenyan youth through creative storytelling
This collaboration aims to empower marginalized communities through sustainable development, with a focus on fostering positive change in young individuals' lives.
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
Toyota to open a vehicle manufacturing plant in Kenya
The agreement will see Toyota set up a vehicle manufacturing plant in the country. The company has committed an initial investment of Kshs 800 million in the Kenya Thika vehicle manufacturers.
Vodacom, Safaricom hit 200 million subscribers
Vodacom Group’s subscriber base including Safaricom has now surpassed 200 million for the first time, having previously achieved 100 million customers in 2018.
15% of companies in the Middle East, Turkiye, Africa region do not train employees on IT
According to Kaspersky’s Business Digitization survey, only 29% of companies surveyed in the Middle East, Turkiye, and Africa (META) region organised training on cybersecurity for their employees.
[Kenya] KenGen diversifies into offering testing services to industries
The accreditation of the calibration centre will not only contribute to KenGen’s financial sustainability but also position the company as a leader in calibration services regionally and globally.
Global access solutions provider ASSA ABLOY acquires South African security communication equipment maker Amecor
ASSA ABLOY has signed an agreement to acquire Amecor (Pty) Ltd, a South African manufacturer of security communication equipment in the South African security market.
Critical infrastructure sees most cyber incidents due to lack of budget, report
18% of companies in the Middle East, Turkiye and Africa (META) region have experienced cyber incidents due to insufficient cybersecurity investment in the last two years, according to a recent study by Kaspersky.
Aramco expands global venture capital programme with $4 billion funds injection
It will take Aramco's overall venture capital allocation to $7.5bn, which also includes the $500 million venture capital fund Wa'ed Ventures that focuses on the start-up ecosystem in the Kingdom of Saudi Arabia.
Mastercard partners with CarbonSifr to advance climate action in MENA region
The innovation-driven partnership aims to equip small businesses in the region with innovative tools to measure, reduce and compensate for their carbon footprint.
[South Africa] Ninety percent of CEOs are waiting for GenAI to move past the hype, report
Seventy-one percent of global executives surveyed say they plan to increase tech investments in 2024—an 11-point jump from 2023—and even more (85%) plan to increase their spending on AI and GenAI.
23% of companies in the META region suffered from malicious actions by staff, report
A Kaspersky study found that in the past two years, 78% of companies surveyed in the META region have faced cyber incidents in different forms, 23% of which were caused by deliberate malicious behaviour by employees
CAF concludes extensive global TV-Broadcast agreements
CAF concludes extensive global TV-Broadcast agreements ahead of the kick-off of the TotalEnergies Africa Cup of Nations Côte d’Ivoire 2023.
India’s energy solutions brand Luminous Power Technologies forays into South Africa
Having established a strong foothold across the African continent in the past 15 years, this landmark partnership is a major milestone for Luminous Power Technologies as it further strengthens its foothold in the African market.
Tomorrow.io and MTN partner to deliver weather early warnings
Through this partnership, MTN’s vast customer base will be able to receive early warning notifications about severe weather events, generated through Tomorrow.io’s weather intelligence and Microsoft Azure.
Arab Coordination Group allocates $10 billion to support energy transition
This funding is meant to drive a comprehensive and affordable transition to renewable energy in developing countries.
47% of companies in the Middle East, Turkiye, Africa region plan to outsource cybersecurity, report
Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned by Kaspersky has found.
[Kenya] AfDB commits over €101 million to boost access to electricity
The project will also benefit from a $13.17 million (€12.12 million) loan from the Canada-African Development Bank Climate Fund (CACF), administered by the Bank, providing long-term concessional loans for climate change adaptation and mitigation projects.
UNIDO and Orange partner to transform Egypt's mobile and network through circular solutions
The United Nations Industrial Development Organization (UNIDO) and Orange have joined forces to support over the next two years the establishment of a viable business model for high-quality standard secondary market of mobile devices and networks/IT equipment in Egypt.
[Column] NJ Ayuk: Oil companies still have vital role to play in African energy
Behind every discovery, final investment decision (FID), and first oil announcement in our continent are companies of all sizes, advancing our energy industry and bringing Africans closer to realizing the energy security and prosperity that their petroleum resources represent.
Generative AI skills gap slowing down AI adoption EMEA region, report
Organisations in the EMEA region plan to embrace AI solutions but are slowed by a generative AI skills gap. This is according to a new report released by hybrid multi-cloud computing provider Nutanix.
Arab Coordination Group pledges $50 billion for African development
The Arab Coordination Group (ACG) has announced that it aims to allocate up to US$50 billion to help build resilient infrastructure and inclusive societies in the African continent.
Retailers are struggling to deal with ransomware attacks, Sophos report
After surveying 3,000 IT/cybersecurity leaders in organizations with between 100 and 5,000 employees (including 355 from the retail sector), across 14 countries in the Americas, EMEA and Asia Pacific Sophos found that only 26% of retail organizations this past year were able to disrupt a ransomware attack.
Western Australia to host 24th WTTC Global Summit after Kigali
During the closing session of the World Travel & Tourism Council’s (WTTC) Global Summit in Kigali, Western Australia was announced as the host for 2024, marking the first time the event will visit Oceania.
75% of healthcare organisations lose data to ransomware attacks, Sophos report
Cybercriminals successfully encrypted data in nearly 75% of ransomware attacks on healthcare organisations. This is according to the The State of Ransomware in Healthcare 2023 report released by cybersecurity firm Sophos.
Kenya among top countries receiving most DDOS attacks amid ongoing geopolitical unrest
Kenya has been listed among the top five countries hit by distributed denial-of-service (DDoS) attacks in the first half of 2023. Other countries include France, Germany, Italy, and Saudi Arabia
[South Africa] Companies acknowledge inadequate budgets to address the root cause of breaches, J2 Software survey
A recent survey revealed that 58% of organisations believe their budgets allocated to manage insider risks are insufficient to effectively mitigate the increasing costs and frequency of security incidents instigated by individuals within the organisation.
Global ad company Entravision enters into a global partnership with Pinterest
Entravision, a global advertising solutions, media and technology company serving clients across more than 40 countries, has entered into an international sales partnership with Pinterest, the visual inspiration platform.
Most consumers in Kenya likely to miss common fraud warning signs, Visa study
Despite being scam-savvy, a new study by Visa has revealed that most consumers in Kenya are likely to be at risk of becoming victims of fraud.
[Column] Anthony Mwangi: Functioning ORGWARE a panacea for Kenya economic transformation
The term describes the framework conditions for Information Technology (IT) projects that are neither part of the hardware nor software but are necessary to achieve the project goals.
80% of SMEs in South Africa project similar or increased revenue in 2023, Mastercard report
From surviving to thriving in the post-COVID world, small and medium enterprises (SMEs) in South Africa are projecting similar or increased revenues in 2023.
[Column] Moses Anibaba: Building connections and opportunities for young Africans
The next generation is essential to the continent’s development and to global shared interests in creating a safer, healthier, and more prosperous future for us all.
Mobile threats in the Middle East, Turkiye, Africa region rise in Q2 2023
The number of mobile threat detections particularly in the Middle East, Turkiye, and Africa region increased by 5% in Q2 2023 compared to Q2 2022.
Mastercard partners with Alerzo to digitize SMEs in the Nigerian FMCG space
This partnership aims to empower businesses by offering digital payment solutions, financial training, and access to credit, ultimately leading to increased sustainability and success in the market.
43% of employees in META region afraid of losing job due to lack of digital skills, report
Among those who think they are most likely to lose their job because of the lack of digital skills within the next 5 years are department heads (29%) and top managers (15%).
Africa Climate Summit 2023 concluded with Nairobi Declaration
At the closing of Africa Climate Summit 2023, African leaders announced $23 billion Nairobi declaration target for green growth in Africa.
Modern trends in investment platforms: How technology is shaping our investment world
Let the power of AI drive your financial success and watch your dreams take flight.
IFC invests $11.5 billion for Africa’s green transition and job creation
IFC made $11.5 billion in investments between July 1, 2022, and June 30, 2023, across 40 countries, the largest ever annual commitment for the continent.
ACWA Power signs deal with NREA for 10 gigawatts wind project in Egypt
ACWA Power, a Saudi-listed company and the world's largest private water desalination company, the first mover into green hydrogen, and a player in energy transition, has signed a memorandum of understanding (MoU) with the New and Renewable Energy Authority (NREA) to allocate land for a 10 GW wind project in Egypt.
Sahara Group Foundation announces its third cohort of the Sahara Impact Fund Fellowship Programme
With a focus on increasing access to energy and promoting sustainable environments, the Sahara Impact Fund program attracted over three hundred applications from nineteen African countries including Nigeria, Kenya, Ghana, South Africa, Burundi, Zambia, Malawi, Tanzania, and Uganda.
Tagger Media expands into South Africa via partnership with Tribeez
Tagger Media, the global technology player making influencer marketing more intelligent, has announced its expansion into South Africa through an exclusive partnership with Tribeez, an influencer marketing and social intelligence agency based in Cape Town.
[Column] Dickson Naftali: Harnessing Africa’s youth population for inclusive growth
By empowering Africa’s youth and creating an enabling environment, we can transform the continent’s food systems and unlock its economic potential.
[South Africa] Financial Sector surpasses the National Average as Data Breach Costs Reach R73.1 Million
The average data breach cost for South African organizations reached R49.45 million in 2023 – an all-time high according to the IBM Security annual Cost of a Data Breach Report.
Nigeria trails South Africa and Kenya in Africa’s B2B payment revolution
Nigeria trails South Africa and Kenya in the development of key B2B payment processes across Africa, including the adoption of electronic bank transfers, speed of processing invoices and payment automation.
African Energy Chamber partners with World Nuclear Association to advance sustainable nuclear energy in Africa
As part of this partnership, World Nuclear Association, the organization representing the global nuclear industry, will be a leading participant in the upcoming AEW 2023 conference.
OPEC Fund and partners finance new power transmission line in Tanzania
The project will include the construction of a 166km overhead transmission line connecting the Kagera region to the national grid, replacing the current energy supply from Uganda with local hydropower resources.
[Column] Wayne Glossop: Gas power solutions for South Africa
While to date our society has been heavily reliant on coal, it's not able to keep pace with the energy and environmental aspirations of the nation currently.
Kenya experiences 82% increase in cyber-attacks, Liquid C2 Cybersecurity Report
Cyber-attacks on Kenyan businesses increased by 82 percent according to a cybersecurity report released by Liquid C2, a business unit of Liquid Intelligent Technologies.
Safaricom profits decline to Ksh.52.48 billion
Kenya’s leading telco Safaricom profits stood at Ksh.52.48 billion in the full year ended March 2023, down from Ksh.67.49 billion recorded in the previous period.
Africa had more than 270 million mobile apps users as of December 2022, report
As of December 2022, the total number of monthly active users of mobile apps in Africa exceeded 270 million, a 14% increase compared to the beginning of the year.
The driving forces: Major industries impacting the African economy
Despite the challenges it's facing, Africa is home to some of the world’s fastest economies. With a fast-growing population and a wealth of natural resources, it has become an attractive destination for investors to capitalize on its untapped potential.
Boomplay announces new ad options across African markets
Africa-facing music streaming and download platform, Boomplay has officially announced the roll-out of its partnership product offerings, allowing artists, brands and potential advertisers to optimize towards more precise exposure and visibility.
AfDB, European Union and France invest $300 million in Tanzania’s hydropower project
The funds will finance the construction of the 87.8-megawatt Kakono Hydropower Plant located in Kagera region in the northern part of Tanzania. The project also received a grant of EURO 36 million from the European Union.
Kenya lost Ksh 3.6 billion to cyber criminals in 2022, report
Kenya’s losses to cyber criminals reached Ksh 3.6 billion (USD 36 million) in 2022, compared to Nigeria and South Africa where they are nearly tenfold at Ksh 50 billion (USD 500 million) and Ksh 57 billion (USD 570 million) respectively.
AfDB, COMESA launch $1.5 million project to improve electricity regulation in the region
The African Development Bank (AfDB) and the Common Market for Eastern and Southern Africa (COMESA) have launched a new regional initiative to enhance the sustainability of the electricity sector in Eastern and Southern Africa through harmonized regulatory frameworks.
[Column] NJ Ayuk: Natural gas is key to addressing South Africa’s energy needs today and tomorrow
As the country’s fleet of mostly coal-powered plants struggles to keep up with electricity demand, South Africans are enduring daily power outages that last six to 10 hours a day.
VC firm Equator raises $40 million in commitments for African climate tech startups
The global venture capital firm with teams in Nairobi, Lagos, London, and Colorado, seeks to invest in high-growth, ready-to-scale ventures that are driven by technology and business model innovation in their quest to address material economic and sustainability challenges in the region.
TerraPay raises $100 million in series B funding to expand global payments infrastructure
TerraPay, a global payments infrastructure company, has successfully closed its Series B equity financing round, raising in excess of $100 million in equity and debt financing.
AfDB approves $28.49 million grant to enhance Ghana’s universal electrification goal
The financing, which will come from the Climate Investment Funds (CIF)– Scaling Up Renewable Energy Program in Low Income Countries (SREP), will support construction of mini-grids, stand-alone solar photovoltaic systems and solar-based battery facilities for storing excess power, a practise known as net metering.
Eni launches Sustainable Supply Chain Finance programme to support access to credit for companies committed to sustainable development
It is designed for Eni suppliers to receive advance payments from the scheme’s financial partners.
Factor[e] Ventures launches a new venture studio to transform the African startup ecosystem
Delta40 focuses on technology-driven energy, agriculture, and mobility ventures led by diverse, experienced founders.
[Column] NJ Ayuk: How domestic gas production can help mitigate South Africa’s energy crisis
The country’s fuel and energy sector is truly in trouble, with power shortages and blackouts worse than ever before.
Volvo delivers the first heavy electric truck to Africa
Deployment of heavy electric trucks is now spreading across the world. With Europe and the US among the leaders, the shift to more sustainable transport is kicking off also in other parts of the world. In Africa, the first heavy electric truck is now being delivered in the city of Rabat in Morocco.
[ChatGPT Biography] Tayo Oviosu, founder of Paga
Artificial Intelligence is taking the world by storm. As an experiment, Africa Business Communities is publishing a series of 100 biographies of the most successful entrepreneurs in Africa. We only ask the questions and let ChatGPT write.
[ChatGPT Biography] Jason Njoku, Founder iROKOtv
Artificial Intelligence is taking the world by storm. As an experiment, Africa Business Communities is publishing a series of 100 biographies of the most successful entrepreneurs in Africa. We only ask the questions and let ChatGPT write.
[ChatGPT Biography] Tony Elumelu, Founder of Heirs Holdings
Artificial Intelligence is taking the world by storm. As an experiment, Africa Business Communities is publishing a series of 100 biographies of the most successful entrepreneurs in Africa. We only ask the questions and let ChatGPT write.
[ChatGPT Biography] Mo Ibrahim, Founder of Celtel International
Artificial Intelligence is taking the world by storm. As an experiment, Africa Business Communities is publishing a series of 100 biographies of the most successful entrepreneurs in Africa. We only ask the questions and let ChatGPT write.
[ChatGPT Biography] Ashish Thakkar, Founder Mara Group
Artificial Intelligence is taking the world by storm. As an experiment, Africa Business Communities is publishing a series of 100 biographies of the most successful entrepreneurs in Africa. We only ask the questions and let ChatGPT write.
[ChatGPT Biography] Strive Masiyiwa: Founder of Econet Wireless
Artificial Intelligence is taking the world by storm. As an experiment, Africa Business Communities is publishing a series of 100 biographies of the most successful entrepreneurs in Africa. We only ask the questions and let ChatGPT write.
[ChatGPT Biography] Mike Adenuga, Founder of Globacom
Artificial Intelligence is taking the world by storm. As an experiment, Africa Business Communities is publishing a series of 100 biographies of the most successful entrepreneurs in Africa. We only ask the questions and let ChatGPT write.
[Interview] Fedir Ted Martynov, CEO, CARMACHAIN, Nigeria
Ted Martynov leads CARMACHAIN, a fintech outfit operating in Nigeria that enables credit data for lenders in markets underserved by credit bureaus.
[Nigeria Business Week] Andrea Ayemoba: Digitization on all fronts, tech takes the lead
There is an obvious, increasing amount of technology awareness, and appeals for more extensive technology trainings in Nigeria.
[Interview] Chris Okoro, CEO, Eunisell Interlinked, Nigeria
Chris Okoro is an entrepreneur and business strategist skilled in the Financial Services and Engineering sector. He's currently the Managing Director and CEO of Eunisell Interlinked Plc., Nigeria.
[East Africa Business Week] Bob Koigi: Improving business competitiveness in the region: The case of TradeMark Africa
As it rebrands to TradeMark Africa, TMA, in its bid to grow its continental footprint, aid for trade institution formerly known as TradeMark East, boasts of having made a lasting mark in East Africa where it has operated for over ten years.
EIB Climate Survey in Kenya
97% of Kenyan respondents say climate change is already affecting their everyday life.
[Column] Givemore T. Chiwanza: How has the Russia-Ukraine crisis affected Africa?
This Ukraine crisis escalated on 24 February 2022 and has tremendously impacted the global socio-economic terrain. The situation has and will continue to affect the African continent's financial system and food and energy security.
Enquête de la BEI sur le climat en Côte d’Ivoire
91 % de la population ivoirienne interrogée estiment que les changements climatiques ont déjà des répercussions sur leur quotidien.
[Nigeria Business Week] Andrea Ayemoba: Investments take priority over all
With global inflation spiraling out of control, every country is working harder than ever to welcome new enterprise and business. Nigeria made great progress in this in recent months.
[East Africa Business Week] Bob Koigi: Scaling startups’ investment in the region
As startups successfully raise funding, they are boosting their product and service portfolio while setting sight on the East African region for expansion. This
[Column] Moagi Bodibe: How to build brand relevance in the metaverse
The conventional playbook businesses refer to for customer acquisition and engagement is now obsolete. In the metaverse, where the rules of engagement are still largely undefined, this gap presents itself as a double-edged sword.
[East Africa Business Week] Bob Koigi: Accelerating sustainable and clean transport solutions
A bulk of East African countries’ electricity comes from renewables. Yet the region’s transport sector relies entirely on imported petroleum fuels.
[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: Boosting small businesses’ competitivity in the region
Small businesses are the engine of the East African economic growth, employing millions and opening up the member states to interact with each other through seamless trade.
[Column] NJ Ayuk: How Africa can capitalize on its mineral wealth to develop an electric vehicle value chain
As the entire global transportation marketplace marches toward an increasingly electrified and battery-powered future, many countries across the African continent stand at the threshold of profound economic opportunity.
[East Africa Business Week] Bob Koigi: Region warms up to the hospitality industry’s expansion binge
Global respected hotel brands are expanding their footprint and have identified Africa as a key investment destination with the East African region catching their attention for its MICE, business and leisure growth potential.
[East Africa Business Week] Bob Koigi: Partnerships bolster cross-border remittances and trade
This will also accelerate financial inclusion and remove the barriers around cross-border money transfers.
[Column] Mike Smollan: The effect of loadshedding on South African retail industry
With loadshedding recently declared the 2022 word of the year by the Pan South African Language Board - retailers, brands, and manufactures have faced heavy knocks in a sector that is still in recovery post lockdown
[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: Region’s startups are on an expansion binge
East African startups have been on an expansion drive, raising funding as they seek to tap into emerging opportunities in the region and across Africa while growing their portfolio.
[Column] Tobias Alando: Key learnings from the waste management journey
The perception of waste as an unwanted material with no intrinsic value has dominated attitudes towards proper waste disposal. Yet, waste is a critical resource with the potential to transform the lives of Kenyans through the creation of jobs and wealth.
[Column] Tobias Alando: Securing our future: the path to net-zero
Accelerating the transition to energy efficiency and conservation is one of the surest ways of securing the future of our planet for generations to come. This is because, energy is at the heart of climate change.
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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