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

22-04-2021 | 09:01:42
TGI Distri launches Kleansol Toilet Cleaner in Nigeria
TGI Distri, a manufacturer of quality home care products in Nigeria, has launched into the market Kleansol Toilet Cleaner which contains power active ingredients with 99.9% efficacy in killing all forms of bacteria in and around the toilet area.

22-04-2021 | 06:42:33
Nigerian Economic Summit Group appoints new Board Directors
The newly appointed directors will collaborate with the current board members to drive the mandate on Nigeria’s foremost think tank and policy advocacy group in the national interest.

21-04-2021 | 14:18:50
Sommet Education expands its global footprint with acquisition of South Africa's Invictus Education
Sommet Education together with Invictus Education Group announced that Sommet Education is acquiring a majority stake in Invictus Education alongside its historical shareholders.

21-04-2021 | 13:45:42
KAS Africa secures $10 million investment to expand operations
KAS Africa, a contract manufacturer of personal, home, baby and oral care FMCG products, has received an investment with an aggregate value of $10 million from TRT Investments Limited.

21-04-2021 | 08:02:00
Sasol, Toyota South Africa Motors announce green hydrogen mobility partnership
Sasol and Toyota South Africa Motors (TSAM) announced the formation of a partnership to commence exploration of the development of a green hydrogen mobility ecosystem in South Africa.

21-04-2021 | 06:17:00
Domino's Pizza opens first store in Ghana
Domino's Pizza Inc. one of the largest pizza companies in the world based on global retail sales, is continuing its global growth momentum, as the first Domino's store in Ghana is now open.

20-04-2021 | 07:18:39
Coca-Cola to sell part of its shareholding in Coca-Cola Beverages Africa via an IPO
The Coca-Cola Company and Coca-Cola Beverages Africa (CCBA) have announced plans to list CCBA as a publicly traded company.

19-04-2021 | 13:53:29
Gateway Real Estate Africa to build office development at Appolonia City in Ghana
Gateway Real Estate Africa (GREA), a private real estate development company specialising in turnkey construction in Africa, announced that it will build its first commercial office building in Ghana at Appolonia City

19-04-2021 | 06:57:45
Egypt, South Sudan sign MoU to build integrated crop livestock fish farming
Egypt and South Sudan signed have signed a memorandum of understanding to build an integrated farming of crop, livestock and fish.

16-04-2021 | 14:52:00
Gabon launches technical training hub to revolutionize skills for economic diversification
The Centre is equipped with high-tech teaching equipment with a capacity to accommodate 1,000 learners who will study in the fields of mechanical engineering and maintenance of agricultural construction machinery.

16-04-2021 | 09:18:48
NAS launches ground handling operations in Democratic Republic of Congo
National Aviation Services (NAS), the aviation services provider in emerging markets, announced the launch of its operations in the Democratic Republic of Congo (DRC).

15-04-2021 | 13:13:00
UNDP and GISD Alliance launch platform to facilitate private sector investments in SDGs
SDG Investor Maps is a unique tool that allows investors identify the impact/sustainability areas that, combined with high return, can be game changers in their portfolio.

15-04-2021 | 12:32:46
Africa receives its first Level D helicopter full flight simulator
The simulator allows pilots to train in complete safety for a variety of complex situations (adverse weather conditions, helicopter failures and emergencies), that could occur in the during actual flight operations.

15-04-2021 | 11:09:00
Desalytics Water Solutions finalizes Kenyan acquisition
Desalytics Water Solutions, a company specializing in the distribution of water treatment and water quality consumables, has strengthened its operations in Sub-Saharan Africa with the closing of its acquisition in Kenya.

15-04-2021 | 06:12:00
[Kenya] KEPSA partners with The Canada-Africa Chamber of Business to boost trade and investment
The Kenya Private Sector Alliance and The Canada-Africa Chamber of Business have announced collaboration to promote, support and facilitate bilateral trade and investment opportunities from Canada into Kenya.


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