Year 7 | Edition 2 | 28 January 2020

Plans to put in place East African single currency by 2024 well underway

The East African Community Partner States are in the process of harmonizing critical policies and putting in place the requisite institutions to attain a single currency for the region by 2024 as outlined in the EAC Monetary Union Protocol.

EAC Secretary General Amb. Liberat Mfumukeko said that the Bill for the establishment of the East African Monetary Institute (EAMI) had already been assented to by the Summit of Heads of State, adding that the EAMI would later be...

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[Ethiopia] Leasing scheme helps farmers purchase small-scale agricultural machinery

A new small-scale agricultural machinery leasing scheme in Amhara region, Ethiopia is offering farmers and group of farmers the opportunity to buy agricultural machineries with only 15-20 per cent advance payment and the rest to be paid during a three-year period.

Three farmers participated in the pilot phase of the project. This initiative, led by the International Maize and Wheat Improvement Center (CIMMYT) and the German Development Agency (GIZ), is one more step to expand small-scale...

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Gigawatt Global begins construction on Burundi’s grid-connected solar field

Gigawatt Global’s 7.5MW solar plant in Burundi becomes the first grid-connected project supported by the Renewable Energy Performance Platform (REPP) to begin full construction.

The project is also the first grid-connected solar development by an independent power producer (IPP) in Burundi. It is hoped the success of the venture will pave the way for further foreign investment into the country’s renewable energy sector by demonstrating the government’s increased capacity - and...

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DPO Group extends operations to Senegal, Côte d'Ivoire and DR Congo

DPO Group, a payments technology company in Africa, has announced that it is now operating in Senegal, Côte d'Ivoire and the Democratic Republic of Congo in francophone Africa.

The company works with over 100,000 merchants throughout Africa enabling businesses to pay and be paid on and offline quickly, securely and easily. "We believe that there is significant potential for e-commerce in francophone Africa, making the region a key focus area for us. While we've been...

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Nigeria’s Paga acquires Ethiopia-based Apposit

Nigerian fintech startup Paga, poised for global expansion, has announced its acquisition of Apposit, a United States (US)-based technology company with operations in Ethiopia.

Founded in 2009, Paga provides Nigerians with safe and convenient ways of making payments, allowing money to be sent to any phone number for the beneficiary to redeem at a Paga agent or at an ATM via a cardless withdrawal. Customers can also use Paga to deposit money to bank accounts in...

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[Column] Wandile Sihlobo: South Africa’s agricultural machinery market underperformed in 2019, how will 2020 be?

South Africa’s agricultural machinery market is one of those sectors that “feels the cold when farmers are sneezing”, and 2019 was certainly that case. South Africa’s primary agriculture underperformed because of drought and biosecurity issues, amongst other aspects.

The constrained farmers’ income on the back of the aforementioned factors was reflected in agricultural machinery sales for 2019. Tractors and combine harvesters’ sales were...

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[Interview] Lateef Wiredu, CEO, Ilaha Ghana Company Ltd

Often regarded as one of the orphan crops as more farmers abandon it for more modern crops, the West African yam is making a big come back and conquering international markets thanks to the value addition efforts of Lateef Apau Wiredu, the owner and CEO of Ilaha Ghana Company Limited that specializes in the farming and export of agricultural products.

The company has been working with farmers through an out grower scheme in its signature crop, the yam, and then processing the fresh yams into frozen sliced precooked yam...

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[Column] Andy Papastefanou: Standardising eSignatures to drive adoption

The eSignature market is highly regulated with a plethora of choices when it comes to vendor solutions. Organisations are often overwhelmed with a vast range of possibilities when implementing electronic signatures into their business processes, and this often stifles the adoption.

Key to any eSignature solution selection is understanding what standards have been established to ensure that the organisation’s investment is protected. Standards have a...

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Africa Business Communities Networking Event | Nairobi | 13 February 2020

Africa Business Communities is open for networking! Every last Thursday of the month you are welcome to meet our team and network. This edition Africa Business Communities founder Bas Vlugt will join us.

Please note: this is an open, informal, non-sponsored networking event. There will be no program - so no waste of time - this is pure business networking. You will be...

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News Headlines

03-07-2020 | 14:27:00
Ecobank Group spearheads new private sector initiative to end malaria in Africa
Ecobank Group has announced its commitment to support ending malaria, launching the first-of-its-kind Zero Malaria Business Leadership Initiative in partnership.

03-07-2020 | 12:51:00
African Development Bank concludes $116m investment in Nedbank SDG-linked bonds
The African Development Bank Group has concluded the investment of R2 billion ($116 million) in Sustainable Development Goals-linked bonds (SDG bonds) issued by Nedbank South Africa.

03-07-2020 | 11:20:00
MultiChoice joins the UN as official African media supporter for global COVID-19 campaign
The MultiChoice Group has become an official supporter of the United Nations’ global COVID-19 awareness campaign Pause which launched globally on 30 June.

03-07-2020 | 11:15:00
DRC government and TMEA set to begin construction of the One Stop Border Post at Mahagi
The Government of the Democratic Republic of Congo and TradeMark East Africa (TMEA) are working on the construction of the One-Stop Border Post (OSBP) at Mahagi in Ituri Province, on the border with Uganda.

03-07-2020 | 06:26:00
African Development Bank joins WTO, other MDBs to support trade finance amid COVID-19 crisis
The African Development Bank has joined the World Trade Organisation (WTO)and other multilateral development banks (MDBs) to reduce trade finance gaps that emerge as a result of the COVID-19 pandemic.

02-07-2020 | 14:27:00
Nile University Nigeria joins Honoris United Universities’ pan-African network
Honoris United Universities has announced its expansion into West Africa by welcoming Nile University of Nigeria, known for its strong academic credentials and best-in-class faculties, into the network.

02-07-2020 | 09:06:00
Portable solar power system boosts COVID-19 testing in Zambia
First Aid Africa and Renovagen Ltd have announced the success of a rapid response project to support testing operations in the fight against the COVID-19 pandemic in Zambia.

02-07-2020 | 09:05:35
Africa becoming a dumping ground for obsolete and inefficient air conditioners, report
A new report on environmental dumping finds that 35 per cent of the room air conditioners sold in many of Africa’s largest countries do not meet minimum energy efficiency standards in their countries of origin.

02-07-2020 | 07:23:10
South Africa switches to Argus-related pricing for LPG
The South African Department of Mineral Resources and Energy (DMRE) has switched to a new formula for calculating official domestic liquefied petroleum gas (LPG) prices.

01-07-2020 | 14:18:00
Barclays receives nod to offer private banking services in South Africa
Barclays has been granted a Financial Advisory and Intermediary Services (FAIS) licence by the Financial Sector Conduct Authority (FSCA) in South Africa.

01-07-2020 | 10:31:00
IFC supports Standard Bank of South Africa expand lending to SMEs during COVID-19
IFC announced a $185 million loan to The Standard Bank of South Africa to help it expand its COVID-19 lending program to small and medium-sized enterprises and corporates affected by the pandemic.

01-07-2020 | 10:23:00
IFC, IFU and PROPARCO provide $108.5m to improve healthcare in Egypt and Morocco
IFC, IFU and PROPARCO are providing an equity financing package of up to $108.5 million to Humania, a private healthcare company, to help improve medical care in Egypt and Morocco.

01-07-2020 | 10:10:00
Oceaneering awarded inspection services scope in Angola from CABGOC
Oceaneering International announced its Asset Integrity group has secured a three-year contract in Angola with Cabinda Gulf Oil Company Limited (CABGOC), a Chevron subsidiary.

01-07-2020 | 09:54:00
Eni successfully drills first exploration well offshore Egypt
Eni, BP and Total have successfully drilled the first exploration well in the North El Hammad license, in the conventional Egyptian waters of the Nile Delta, on the prospect called Bashrush.

01-07-2020 | 09:35:25
UNCTAD, ITC and WTO roll out tool to help businesses trade better
Businesses now have free access to a one-stop shop with the information they need to trade effectively as the global economy recovers from the effects of the coronavirus crisis.


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Editors: Bob Koigi, Nixon Kanali, Andrea Ayemoba

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