Year 8 | Edition 6 | 31 March 2021
 

[Nigeria] Access Bank receives nod to acquire South African Grobank

Following an earlier announcement in September last year, Nigeria’s Access Bank has announced that it has received the approvals of the South African and Nigerian regulatory authorities to its proposed acquisition of the South African-based Grobank Limited.

The transaction is expected to be completed in the second quarter of 2021 subject to completion of other conditions precedent. Speaking on the development, Mr. Herbert Wigwe, the General Managing Director and CEO of Access Bank, said...

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Sub-Saharan Africa poised for recovery amid recession, World Bank

The economic growth in Sub-Saharan Africa is estimated to have contracted by 2.0% in 2020, closer to the lower bound of the forecast in April 2020, and prospects for recovery are strengthening amid actions to contain new waves of the pandemic and speed up vaccine rollouts, according to the World Bank’s biannual economic analysis for the region.

The latest Africa’s Pulse, The Future of Work in Africa: Emerging Trends in Digital Technology Adoption, notes that a slower spread of the virus and lower COVID-19-related...

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Morocco, Nigeria unveil Joint Business Council

Morocco's intensified efforts towards African solidarity and south-south cooperation continue to show results, with the creation of the Nigeria-Morocco Business Council being the latest of encouraging developments.

In a press release shared this week with Morocco World News, the Morocco Africa Cultures and Developments Organization (OMA) announced the creation of the Nigeria Morocco Business Council. The signing ceremony will take place on Monday, March 29, at the headquarters of the Chamber of Commerce...

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Ford Foundation invests $15 million in first global fund addressing key issues facing black women

The Ford Foundation has announced its commitment of $15 million in seed funding to help launch the Black Feminist Fund, a new philanthropic fund developed and led by a core group of Black feminists who sit at the nexus of feminist organizing, advocacy, and philanthropy globally.

Ford’s initial investment will be vital to help jumpstart the fund’s work to create a network of support around key issues that impact Black women around the globe. The Ford Foundation’s $15 million seed investment is from the...

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ENSafrica expands WSG Africa membership with addition of Ghana, Kenya, Namibia, Rwanda and Uganda

World Services Group (WSG) has announced that ENSafrica has expanded its global membership with five new jurisdictions in Africa in addition to South Africa and Mauritius: Ghana, Kenya, Namibia, Rwanda and Uganda.

This expansion reflects ENSafrica's well known reputation as Africa's largest law firm with the capacity to deliver for clients across all major industries in Africa. The expanded reach across the African continent within WSG exemplifies WSG's continued focus of qualified premiere direct global reach for...

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[Interview] Stephan Eyeson, Founder & CEO, Survey54

British-Ghanaian entrepreneur, Stephan Eyeson, is current CEO and Founder of pan-African consumer intelligence gathering firm, Survey54.

Could you tell us about your company?

Survey54 was launched in 2019 and is a market research outfit that uses AI-powered insights to collect data and interpret consumer habits. What we do is help companies to understand African consumer tendencies and how this can affect their marketing plans and overall bottom line. We are...

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[Column] René Schoeman: Innovation Drives Compliance, Enhances Performance

South African businesses operate in a highly legislated landscape. With this comes immense pressure to ensure compliance or face heavy penalties. The need for regulatory and legal compliance increases with every new or amended piece of legislation, and businesses are hard pressed to keep pace with these requirements. 

The legal requirements of the Basic Conditions of Employment Act (BCEA), the Labour Relations Act (LRA), and other sector specific regulations create a quagmire of obligations...

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[Column] Shantel Mufandaidza: The impact of AfCFTA on oil and gas industry

Created by the African Continental Free Trade Agreement in 2018, the African Continental Free Trade Area ("AfCFTA") came into effect on 1 January 2021.

Since the World Trade Organization creation, the AfCFTA is the largest free trade area globally, with 54 out of 55 nations of the African Union, many of which have already ratified the agreement. Estimations forecast that this free trade area will positively impact Africa's Gross Domestic Product (GDP), resulting in welfare gains for citizens, facilitate trade growth...

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[Africa Tech Review] Duncan Mochama:The rapid uptake of 5G and its real potential in Africa

5G network is here. This fifth generation of wireless technology promises more than just a faster network. It will help redefine the network, establishing a new global wireless standard for speed, throughput and bandwidth.

In Kenya, Safaricom is preparing to launch this network in partnership with Nokia and Huawei. Once rolled out, Kenyans are going to enjoy faster speeds. This will also make Safaricom the first operator in East Africa to launch 5G. This launch actually came as a surprise considering Safaricom...

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News Headlines

19-04-2024 | 18:05:00
[Free Webinar Business Event] Supply Chain Resilience in Africa: Navigating Global Manufacturing and FX
Join the experts at this comprehensive webinar exploring the intricacies of supply chain management and payment dynamics in African markets.


19-04-2024 | 13:45:33
[South Africa] Johannesburg Stock Exchange proposes amendments to listing requirements
As part of its continued commitment to creating an enabling environment for listed companies, the JSE has announced the proposed amendments to its Listings Requirements to introduce the Market Segmentation Project aimed at the smaller issuers on the Main Board of the exchange.


17-04-2024 | 09:14:46
The Radisson brand enters Cape Town with the newly rebranded Radisson Hotel Cape Town Foreshore
Radisson Hotel Group brings the renowned Radisson brand to South Africa's "Mother City" with the rebranding of Park Inn Cape Town Foreshore to Radisson Hotel Cape Town Foreshore.


17-04-2024 | 07:10:00
The evolutionary journey of fruit slots in the gaming industry
Social media and collaborative gaming platforms added a new dimension to the gaming industry. Now players can share their successes, participate in tournaments, and challenge friends to competitions, adding elements of social interaction and competition.


16-04-2024 | 16:14:00
[South Africa] Volkswagen announces R4 billion investment in Kariega plant
The changes being made in preparation for the production of the new SUV also affords training and upskilling opportunities for Volkswagen Group Africa’s production employees.


12-04-2024 | 16:12:00
Global asset manager Rohatyn Group sells South Africa-based Portfolio Company BevCo to Varun Beverages 
The company operates five manufacturing facilities across South Africa with an installed capacity of 3,600 bottles per minute


11-04-2024 | 16:18:33
South African used car platform WeBuyCars lists on the Johannesburg Stock Exchange
WeBuyCars, a prominent and recognised brand within the pre-owned motor vehicle market, established over 23 years ago, has listed on the Main Board of the Johannesburg Stock Exchange (JSE) under the share code "WBC."


10-04-2024 | 19:33:00
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.


09-04-2024 | 14:13:00
Kenya Airways launches direct flights to Maputo, Mozambique 
The expansion takes flight from 14th June 2024, further solidifying KQ's commitment to strengthening its network and offering seamless travel experiences across the continent. 


05-04-2024 | 17:11:35
Global merchandising firm SPAR Group announces sale of interest in South Africa
These transactions have been approved by the SPAR Board of Directors and are expected to close in the second quarter.


05-04-2024 | 17:07:30
Surf Air enters deal to supply electric powertrains to Tanzanian Cessna caravan operator Auric Air
Surf Air now has approximately 13% of the Cessna Caravan market in Africa under agreement to upgrade to its electrified powertrains, once certified.


04-04-2024 | 15:57:00
Nakonde Border Post upgrade boosts trade between Zambia and Tanzania
Funded by the UK government, the ZMK 197 million (£7.1 million) project will improve the flow of goods and people along the Dar es Salaam Corridor, promising to streamline operations and reduce cargo clearance times by more than 100% on both sides of the border.


04-04-2024 | 11:21:37
East Africa Marine Transport inaugure son premier navire sur le lac Victoria
Après 21 mois de construction, East Africa Marine Transport (EAMT) a inauguré son premier navire sur le lac Victoria.


04-04-2024 | 10:00:00
[Kenya] Mombasa green entrepreneurs launch Zero Waste Festival
Zero Waste Fest culminated a week-long digital campaign dubbed #BeatPlasticPollution aimed at addressing the plastic pollution menace in Mombasa.


03-04-2024 | 16:07:24
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.


 


 
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