Category: Business & Economy

Visa unveils 1st Visa Everywhere Initiative for young developers

Visa has announced the launch of the first Visa Everywhere Initiative for Sub Saharan Africa to young developers. Developers who win the Visa-led hackathon will automatically gain entry into the Visa Everywhere Initiative where they will have an opportunity to compete for a chance to win up to $50,000, at a regional event in the […]

Business & Economy

Somaliland among 1st beneficiaries of 50 Clean Energy Projects

Decentralized renewable energy company ImpactPPA and Earth Day Network have announced an initiative to install clean energy systems at 50 facilities by 2020. The “50 by 50” initiative will focus on providing hybrid wind and solar installations to schools, healthcare centers, and other facilities whose work could be greatly enhanced by access to reliable energy. […]

Business & Economy

MainOne’s West Africa gets Cote d’Ivoire license

As part of its West Africa expansion, connectivity and data centre solutions operator MainOne has secured a license to expand national and international connectivity services in Cote d’Ivoire. The C1B license, received from Minister Bruno Koné, the country’s Minister for Communication, Digital Economy and Postal Services, will enable MainOne land its trans-Atlantic submarine cable and […]

Business & Economy

Africa in for competition regulation

The top ten economies by Gross Domestic Product (GDP) in Africa all have active competition regulation, save for Angola and Nigeria but those countries are in the process of establishing completion law regimes, which are expected to be up and running soon. About twenty countries currently have functional competition law regimes, several more have enacted […]

Business & Economy

Ecobank launches Fintech Challenge competition for start-ups

Pan-African banking group Ecobank, is inviting African fintech entrepreneurs to enter its Ecobank Fintech Challenge. Now in its second year, the initiative gives African start-ups the chance to promote their fintech solutions, and potentially to partner Ecobank in rolling-out their solutions across Ecobank’s 33 markets. Ecobank is currently welcoming submissions from all start-ups and developers […]

Business & Economy

Nigeria’s Bola Adesola appointed Vice Chair of the UN Global Compact board

The United Nations Secretary-General has appointed Bola Adesola of Nigeria, Chief Executive Officer and Managing Director of Standard Chartered Nigeria, and Paul Polman of the Netherlands, Chief Executive Officer of Unilever, to serve as the two Vice-Chairs of the Board of the United Nations Global Compact, the world’s largest corporate sustainability initiative. Ms. Adesola and […]

Business & Economy

Vodacom: 1st African mobile network to exceed 80 per cent population coverage on 4G

Vodacom has become the first African mobile network to exceed 80% population coverage on 4G. Vodacom now provides 80.12 per cent 4G coverage in South Africa, with 99.78 per cent of the population covered by 3G and 99.97 per cent covered by 2G. The accelerated rural coverage programme, outlined by Vodacom in June last year, […]

Business & Economy

Mobile Outfitters Africa opens first shop in SA

U.S. manufacturer and innovator of mobile accessories Mobile Outfitters Africa has officially opened its first outlet in Africa at Mall of Africa, South Africa’s largest shopping mall and home to over 300 shops, many of which are flagship stores. In 2009, the Mobile Outfitters brand opened their first location, and now you can find their […]

Business & Economy

AfDB, Asian Infrastructure Investment Bank sign agreement

African Development Bank and Asian Infrastructure Investment Bank have signed a memorandum of understanding to enhance collaboration on sustainable economic development. The mandates and comparative advantages of the two institutions converge around infrastructure development, particularly energy and power, transportation and communication. These key activity areas will provide a framework to foster collaboration in developing programs, […]

Business & Economy

EIB, IMF partner to build capacity on financial inclusion, stability in Africa

The European Investment Bank (EIB), the EU Bank, and the International Monetary Fund (IMF) have signed a Letter of Understanding to pool their expertise and experience to promote sustainable economic development, financial stability and inclusive growth in Africa. The EIB will contribute with EUR 3m to IMF economic institutions, namely the African Regional Capacity Development […]

Business & Economy

How top global companies get there: Wrike

The blueprint for achieving Operational Excellence based on insights from 15,000 of the world’s top companies: Watch this video Learn more

Business & Economy

Sky.Garden partners Interswitch to launch Instant mobile money

eCommerce company Sky.Garden has made groundbreaking implementations to its payments module to ensure real-time payments to their sellers after signing a deal with digital payments firm Interswitch. The deal will improve speed and accuracy of mobile money payments and allow seamless cash flow management and comes months after the firm raised $1.2m to fuel product […]

Business & Economy

Wrike: Sustaining efficiency in the workplace

That’s what you get when you use Wrike in your company: Create plan collaborate report customize integrate security support   Learn more

Business & Economy

CBN Nigeria injects money into the market

ABUJA, April 18 (Reuters) – Nigeria’s central bank said on Wednesday it had injected $210 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages. The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses and individuals, and […]

Business & Economy

African market factors outlook April 19 2018

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. – – – – – EVENTS: *Ethiopia’s new Prime Minister Abiy Ahmed expected to name his new cabinet. GLOBAL MARKETS Resource stocks were on a roll in Asia on Thursday as oil prices hit […]

Business & Economy

SA: Fiat Chrysler Automobiles announces major appointments to steer growth

Fiat Chrysler Automobiles South Africa has announced the appointment of the new Head of Sales Operations of Fiat Chrysler Automobiles South Africa (Pty) Ltd, importer of Fiat, Fiat Professional, Abarth, Alfa Romeo and Chrysler brands. Jason Knight joined the company on the 9th April 2018. Through a career of 16 years in the South African […]

Business & Economy

THE DEFINITIVE GUIDE TO BUSINESS How a 34-year-old turned $200 into a company he sold for over $10 million

Thirteen years ago as a broke college student, Trevor Chapman took a job selling pest control door-to-door to make extra money. Eventually, he launched his own sales operation — a solar panel installation company that quickly expanded across three states. But two years in, something was missing — and it wasn’t a shortage of time […]

Business & Economy

NSE to migrate Access Bank, Lafarge, Seplat and UBA to Premium Board

The Nigerian Stock Exchange is set to migrate Access Bank Plc, Lafarge Africa Plc, Seplat Petroleum Development Company Plc and United Bank for Africa Plc to its Premium Board, 2018 sequel to them applying and meeting the Exchange’s listing requirements for the board. The Premium Board is the listing segment for the elite group of […]

Business & Economy

New portal makes international trade information access for Rwandans easy

Rwanda Revenue Authority andTradeMark East Africa have launched The Rwanda Trade Portal. The Rwanda Trade Information Portal is a fulfillment of the government of Rwanda’s obligations under the Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO), to which Rwanda is a signatory. The agreement obliges governments to be transparent and to provide practical […]

Business & Economy

20% of South African firms have no women in senior roles, report

While the overall business environment for women appears to be improving in South Africa, there is a clear divide between businesses that are gender-equitable and those that aren’t. According to a new report from Grant Thornton, nearly a third of senior positions in South Africa are occupied by women, but 20% of the businesses in […]

Business & Economy

WorldRemit to launch instant money transfers to Kenya

Global digital money transfer service WorldRemit has joined forces with Diamond Trust Bank Kenya Limited (DTB) to further expand money transfer in the region. WorldRemit’s mobile-first, digital model allows the Kenyan diaspora to send money in a few taps directly from their phones – without the inconvenience of visiting a bricks and mortar agent. With […]

Business & Economy

AfDB’s Trade Finance Operation signs $100m soft commodity finance

The African Development Bank has signed a loan agreement for a soft commodity finance facility (SCFF) with the Export Trading Group (ETC). This Facility is innovatively structured as two successive loans of US $100 million, each with a tenor of up to 2 years, thus signifying the African Development Bank’s strong commitment to the promotion […]

Business & Economy

The Africa Channel and Côte Ouest announce biz partnership

The Africa Channel and Côte Ouest have announced they have signed a broad-ranging strategic alliance in which the parties will jointly pursue distribution, licensing and production opportunities across the globe. The Africa Channel is the largest broadcaster and producer of African-themed content in North America. CôteOuest is the world’s largest distributor of African content. Under terms […]

Business & Economy

MTN, Ecobank announce mobile banking partnership

Telecommunication company MTN has announced its collaboration with Ecobank to offer more value to their respective customers by expanding the scope of their partnership, enabling both companies to leverage each other’s assets. MTN’s large subscriber base, comprehensive distribution, innovative digital products and drive for mobile financial services are being linked with Ecobank’s digital banking products […]

Business & Economy

Andersen Tax launches in Kenya after Nexus Business Advisory Limited

International tax and legal company Andersen Global has announced the debut of the Andersen name in Kenya as Nexus Business Advisory Limited, a tax and business advisory firm based in Nairobi, becomes a full member firm of Andersen Global. The launch continues Andersen’s strategic expansion across Africa, with Andersen Tax in Kenya becoming the second African […]

Business & Economy

Seabased gets 100 megawatts wave power plant contract with Ghana

Seabased has been contracted by TC’s Energy, a Ghanaian renewable energy production company, to deliver a wave energy plant near Ada, Ghana. The 100 MW park is one of the first, and one the largest, commercial contracts in the fledgling wave energy industry. Wave power is an emerging sector in the rapidly growing renewable energy […]

Business & Economy

Seychelles, Mozambique deepen bilateral cooperation

Seychelles Secretary of State for Foreign Affairs, Ambassador Barry Faure speaking from the capital of Mozambique has said that the two countries had agreed to boost their bilateral cooperation as they share many similarities and could benefit from their respective comparative advantages as neighbours sharing the same ocean space. Ambassador Faure spoke to the local […]

Business & Economy

FCMB partners with Etihad, gets cheap deal for customers

Customers of First City Monument Bank Limited (FCMB) who plan to travel abroad for personal or business purposes at very affordable fares now have an opportunity to do so. This is because, the Bank and Etihad Airways have launched a partnership that offers discounted, highly affordable and convenient travel packages, including flight tickets, to existing […]

Business & Economy

FCMB Group announces N170bn gross revenue – Daily Trust

FCMB Group Plc has released its financial results for the year ended December 31, 2017, reporting a gross revenue of N169.9 billion. Going by the audited results, the group recorded a profit before tax (PBT) of N11.5 billion, while profit after tax (PAT) was N9.4 billion. Deposits grew to N689.9 billion as at the end […]

Business & Economy

EFG Hermes Factoring receives license to offer services in the Egyptian market – News

EFG Hermes, a financial services corporation serving MENA and frontier emerging markets, says that its subsidiary, EFG Hermes Factoring, has received a license to offer factoring services in the Egyptian market, reinforcing the Group’s market-leading position and further diversifying its product offering to large corporates and SMEs across Egypt. EFG Hermes has allocated an initial […]

Business & Economy