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

01-12-2021 | 10:02:00
Burger King opens first outlet in Nigeria
American multinational fast food chain Burger King has opened its first outlet in Nigeria in partnership with local firm Allied Food & Confectionary Services Limited.

01-12-2021 | 09:47:24
HeidelbergCement sells Sierra Leone business to Diamond Cement Group
HeidelbergCement holds 50% of the shares in the company and has full management responsibility. The sale includes a cement grinding plant with two grinding mills.

01-12-2021 | 09:43:03
Kenyan e-pharmacy platform MYDAWA receives $1.2 million funding in fight against HIV & AIDS
This grant is aimed at increasing access to PrEP (Pre-Exposure Prophylaxis) services through MYDAWA’s award winning e-pharmacy model, supporting the fight against HIV& AIDS in Kenya.

01-12-2021 | 07:30:00
Libya, Niger move forward on strengthening migration management and labour mobility
In a step towards regularizing labour migration, Libya and Niger signed a memorandum of understanding that seeks to protect migrant workers through effective work visa issuance before employment and to better respond to Libya's labour market needs.

30-11-2021 | 16:35:08
Accor expands Africa footprint with the opening of Novotel & Novotel Living Conakry, Guinea
Accor is collaborating with KAKANDE-IMMO, a real estate subsidiary of GUICOPRES Group, who’s Chairman and CEO is Mr Kerfalla Camara, also known as KPC in his country.

30-11-2021 | 12:30:00
Zanzibar is the latest investment destination for Kenyan investors
According to German real estate firm CPS, Kenyan investors form 30 per cent of all investors betting on the island nation.

30-11-2021 | 11:11:00
Ethiopian partners with IDC to launch Zambia Airways
Ethiopian Airlines, the largest aviation group in Africa, announced it has finalized preparations for the launch of Zambia’s National Carrier in a joint venture with Industrial Development Corporation (IDC).

30-11-2021 | 10:51:00
UNIDO, Zambia sign five-year Programme for Country Partnership
LI Yong, Director General of the United Nations Industrial Development Organization (UNIDO), and Chipoka Mulenga, Zambia's Minister of Commerce, Trade and Industry, signed a five-year Programme for Country Partnership (PCP).

29-11-2021 | 11:52:36
[South Africa] SlipMate offers first Mastercard corporate prepaid cards for e-commerce
South African expense management solution SlipMate has announced that it has enabled e-commerce functionality for its Mastercard corporate prepaid cards, a first-of-its-kind integration for the South African market.

29-11-2021 | 11:30:19
Business travel expected to fully recover by 2024, report
The report provides a detailed analysis of business travel in 2021 with projections for 2022 and beyond, including post-COVID-19 recovery forecasts.

29-11-2021 | 11:26:55
Golden Star announces receipt of Ghanaian Regulatory approval for Chifeng acquisition transaction
Gold mining company Golden Star Resources Ltd has announced that the Ghanaian Ministry of Lands and Natural Resources has informed Chifeng Jilong Gold Mining Co., Ltd

26-11-2021 | 13:40:00
Dutch development bank FMO partners with VC4A to launch a Ventures Lifecycle Support project across Africa
FMO has partnered with VC4A to work with local partners across Africa to create a more efficient network of support for early-stage ventures.

26-11-2021 | 13:35:00
Egypt takes over the Chair of COMESA
Egypt is the new Chair of the COMESA Heads of State and Authority after taking over from Madagascar that has been steering the organization since 2016.

26-11-2021 | 10:44:00
Insurpass partners AXA Mansard for easier access to health insurance for Nigerians
Insurpass, an insurance technology company has partnered with AXA Mansard, a leading player in the insurance and asset management sector to provide access to affordable insurance coverage for emerging customers in Nigeria.

26-11-2021 | 07:50:21
Air and travel services provider dnata announces investment in Zanzibar aviation industry
dnata will provide its globally renowned, quality ground and passenger handling services to airline customers at ZNZ, ensuring safe and timely operations of flights and an excellent travel experience for passengers. dnata expects to handle over 4,000 flights annually at the airport.


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