EFG Hermes Holding informed shareholders that it has completed its transformation into an Egyptian universal bank with a market-leading frontier emerging markets (FEM) investment banking platform.

The news comes as the Firm has finalized its acquisition of a 51% stake in the Arab Investment Bank (aiBANK), marking a strategic entry into the fast-growing and solid Egyptian commercial banking sector. The transaction will see EFG Hermes Holding assume control of aiBANK, with TSFE...

The African Development Bank approved a grant of $40 million from the African Development Fund to the Republic of Ghana to further capitalise The Development Bank Ghana (DBG), a newly established development finance institution in Ghana.

The Development Bank Ghana is designed to provide financing to micro, small and medium sized enterprises as well as small corporates in agribusiness, manufacturing and information and communication technology (ICT). Ghana is pursuing an...

Cellulant, a Pan-African payments company, has partnered with one of Zambia’s fish distributors, Lake Harvest to enable mobile payments in all their outlets through the Tingg one-stop digital payment platform.

As consumer purchasing habits evolve, Lake Harvest has placed importance on accepting all forms of mobile money to give their customers a seamless payment experience. Lake Harvest highlighted that this was necessitated by demand from their customers who kept requesting easier ways to...

Radisson Hotel Group and REALITES Groupe announced the signing of Lincoln Casablanca, a Radisson Collection Hotel, debuting Radisson Hotel Group’s third brand in Morocco.

Radisson Collection also marks the Group’s ninth hotel signing in Morocco this year, bringing its portfolio in the country to 11 hotels in operation and under development, and setting the Group firmly on track to exceed its ambition of reaching 15 hotels by 2025. “The Lincoln Hotel”, the oldest hotel in...

Cloudmania, an exclusive provider of Cloud Partner Programmes in Africa, has opened its doors in 13 countries across the continent. The indirect provider focuses on partner building and enablement by giving resellers the ability to resell superior solutions by leveraging Cloudmania.

According to Winston Ritson, Chief Business Officer, Cloudmania, "We understand the growing need for cloud services and its vital role to ensure seamless collaboration between employees. Our extensive expertise will ensure that...

Coldwell Banker - Egypt, a pioneer in real estate investment and marketing, has announced the launch of its new Franchise Program in Egypt for the first time.

This came on the sidelines of its sponsorship of the fourth edition of BiznEX 2021- Egypt’s Business Conference, which is dedicated to attract business and investment opportunities in light of Egypt’s interest in micro, small and medium enterprises. The launch of the Franchise Program comes within the framework of the pioneering strategy of Coldwell Banker...

Brussels Airlines unveiled a new brand identity, confirming its position in the market as Belgium’s home carrier and the Africa expert of the Lufthansa Group.

Updated colours, a new logo and aircraft livery are the visual token of the airline’s new chapter, stating its readiness for future challenges and reemphasizing on the importance of the Belgian brand. A chapter with a strong focus on customer experience, reliability and sustainability while keeping a competitive cost-structure. As a consequence of the...

IFC and Rehoboth Properties announced the first affordable housing project in Ghana to achieve IFC's Excellence in Design for Greater Efficiencies (EDGE) green building certification, helping Accra reduce greenhouse gas emissions while conserving energy and water usage.

Rehoboth's 1,700-unit Knightsbridge community in the suburb of Kwabenya features efficient lighting, natural ventilation, low-flow faucets, and dual-flush toilets, among other energy efficient technologies, reducing electricity and water use by...

MTN Group announces the Group’s exit from its operation in Yemen in a transaction that furthers the delivery of their Ambition 2025 strategy and is in line with their intention. First announced in August 2020 to exit the Middle East.

Effective 17 November 2021, MTN Group transferred their majority shareholding in MTN Yemen to Emerald International Investment LCC. Emerald is a subsidiary of Zubair Investment Center LLC, an affiliate of Zubair Corporation LLC, which is...

As changing consumer habits and the impact of the COVID-19 pandemic continues to drive adoption of digital services in Africa, banks in particular are under pressure to extend their services into the digital realm.

One recent study found that 96% of banks operating in the African continent have digital transformation at the top of their agendas. For one of South Africa’s largest and most innovative banks, a rapidly growing customer base hungry for its banking services led to an ambitious and award-winning digital...

Norfund and Macquarie-managed UK Climate Investments (UKCI) are financing a joint venture between H1 Holdings and Pele Green Energy to fund their 40% equity participation in a 700 MW portfolio of onshore wind farms.

Both partners will invest alongside Enel Green Power in one of South Africa’s largest renewable energy equity deals valued at around $US100 million. Increased access to clean, reliable, and affordable energy is a critical enabler of social and economic development, and the investment will aim to...

Kenya Electricity Generating Company PLC (KenGen) has completed drilling the deepest geothermal well in Ethiopia reaching a depth of 3,000 meters, surpassing a target of 2,750 meters.

This marks the second of eight geothermal wells KenGen has been contracted to drill for the state-owned electricity producer, Ethiopia Electric Power Company which was delivered successfully amid COVID-19 pandemic. “We are happy to see our teams deliver the same level of success in...

The Government of Rwanda, led by the Ministry of ICT and Innovation, has partnered with Google to accelerate the country’s digital transformation. This initiative is in line with Rwanda’s ambition to drive inclusive economic development leveraging technology.

Rwanda’s vibrant economy is an ideal launch pad for future innovation in Africa, with focus in four key areas: affordable and universal access to connectivity; adoption of digital platforms; Digital Skilling for All; and fostering a pan-African...

The richest black man, Aliko Dangote, is aiming to create more wealth for more Nigerians when his oil refinery begins operation in a few months.

The Dangote oil refinery, the world’s largest single-train refinery, is expected to produce 650,000 barrels per day. The $19 billion project located in Ibeju-Lekki in the outskirt of Nigeria’s commercial capital, Lagos, is projected to create jobs for at least 25,000 Nigerians when it's completed and fully operational, says Group Executive Director of Strategy and...

The Nigerian Minister for labour recently has affirmed that more needed to be done in order for the employment crisis to be mitigated. He did allow that much has been done, but a lot of action still was required if the problem was to be tackled from the roots.

Many would agree that entrepreneurship, with all the mentoring and support that it requires, is the most obvious answer. The Central Bank has not been idle in this regard, as seen in its ample loan disbursement in one year to cushion...

Cloud technology has helped businesses in sub-Saharan Africa manage the disruptions caused by the coronavirus pandemic, something we have extensively spoken about in a previous column. When the pandemic hit, most businesses turned to the cloud to improve operational efficiency.

The pandemic changed the way we work, with businesses having to migrate to the cloud to enable collaborative remote- or hybrid-work environments.  Analysts predicted more and more businesses will be moving to the cloud as businesses...

As we continue rebuilding following the economic and social damage caused by the pandemic, there is ample opportunity for optimism.

I am encouraged by the continent’s rich history of innovation and ingenuity. After all, Africa is the cradle of humankind, where stone tools were first invented (2.6 million years ago in modern Ethiopia), papyrus was invented by the Egyptians more than 5 000 years ago, and where the world’s first university – in 859 – was created in Morocco. Today, Africa...