Year 9 | Edition 1 | 14 January 2021

Verdant Capital and KfW establish fund to support MSMEs growth in Africa

Verdant Capital Hybrid Fund initially has $36 million of committed capital; Support for micro, small and medium-sized enterprises (MSME) through investment in financial institutions; Better access to financing, creation of employment and income generation for MSME in Africa.

Verdant Capital Hybrid Fund (VCHF) has reached its first closing with committed capital of $36 million. The fund is targeting high developmental impact, including job creation and income generation through SMEs and micro...

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ENGIE Equatorial inaugurates Lolwe solar mini-grid in Uganda

ENGIE Equatorial has announced that the Lolwe hybrid solar 600 kWp mini-grid, with integrated productive hub and e-mobility, has been inaugurated on Lolwe Island, Uganda, in the presence of Uganda’s Minister of Energy Hon. Ruth Nankabirwa.

This joint project between ENGIE Energy Access and Equatorial Power Ltd. is the most advanced mini-grid on the African continent. It is the result of a strong African-European alliance and is a real game-changer for the energy...

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Kenya Bureau of Standards approves two standards for grains storage

The Kenya Bureau of Standards (KEBS) has approved two new standards that will guide quality and safety requirements for hermetic bags for the storage of grains.

Through the new standards, KEBS has addressed the use of hermetic storage for woven polypropylene bags and rigid plastic silos for the storage of dried food commodities, derived products and seeds without the use of pesticides as a preservative in storage. Hermetic bags are air-tight bags that prevent air/water from getting  into the cereals stored in...

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Coca-Cola launches JAMII, its new sustainability platform in Africa

Coca-Cola Africa Operating Unit (“AOU”) and its bottling partners announced the launch of JAMII, the new Africa-focused sustainability platform. The platform houses the Company’s existing and new sustainability initiatives.

Through this signature platform, Coca-Cola hopes to attract like-minded partners to help accelerate on-the-ground impact of its initiatives. The new platform will build and expand on the past accomplishments in three areas; water stewardship, the economic empowerment of women and youth and waste...

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Ababacar Diaw appointed CEO of Allianz Ghana Non-Life

Ababacar Diaw, currently Deputy CEO of Allianz Africa Services and Regional Head of Protection and Resilience at Allianz Africa has been nominated as CEO of Allianz Ghana Non-Life, effective January 17th 2022, subject to necessary approvals. He succeeds Darlington Munhuwani who will pursue other opportunities outside the Allianz Group.

Ababacar joined Allianz in 2011 as the Head of Controlling for Allianz Senegal Assurances. He was previously member of the Executive Committee of NSIA Senegal (Insurance & Bank) where he held the position of Head of Controlling and...

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Nigeria finally lifts Twitter ban after 7 months

Nigeria “indefinitely suspended” Twitter‘s operations in the country on June 4 last year after the company deleted President Buhari’s controversial tweet. 

The country accused Twitter of using its micro-blogging platform for activities that are capable of undermining Nigeria’s corporate existence. Seven months later, the country has now lifted the Twitter ban...

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Grosso Foods B.V. rebrands to Grosso.Africa, reveals expansion plans

Agricultural investment and advisory partner, Grosso Foods B.V., has transitioned into Grosso. Africa, a Tanzania based distributor with a hands-on focus on distribution of conservation agriculture equipment and smart farming solutions.

The rebrand highlights the company’s growth and strategic expansion plans with an unveiling of a new website redesign to reinforce its growing business model. ''Our new name represents where the company is going, shows continued...

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Kenyan BNPL startup Lipa Later secures $12m funding to expand across Africa

Lipa Later, one of it’s kind buy-now-pay-later (BNPL) company operating in Kenya, Rwanda, Uganda and Nigeria, has raised $12 million from a consortium of investors.

The funding, which is  a mix of equity and debt, will help Lipa Later expand within its current markets (Kenya, Uganda, Rwanda) and into new markets such as Nigeria, Ghana and Tanzania. It will also allow Lipa Later to provide its Buy-Now-Pay-Later services to its substantial current pipeline of consumers supporting Lipa’s exclusive partnerships with...

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[Kenya] TransUnion Africa appoints Morris Maina as CEO for its Kenyan operations

Information and insights company TransUnion Africa has announced the appointment of Morris Maina as chief executive officer (CEO) of the company’s rapidly-growing Kenyan operation.

Maina will be responsible for growing the company’s increasingly broad range of fraud and risk solutions, leveraging its global expertise for the benefit of the local market. TransUnion helps Kenyan businesses to form trusted relationships and make more informed decisions, and...

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Irish fintech Pipit Global and Cellulant extend partnership to 12 new African markets

International cash payments platform Pipit Global and Cellulant have extended their partnership agreement to now include eighteen countries in Sub-Saharan Africa.

The partnership will see the companies providing both B2B and B2C payments services to existing and emergent financial institutions, eCommerce merchants, billers and billing platforms, mobile money providers and eWallets, digital financial service providers, and their customers. Despite the...

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[Ghana] Health-tech startup mPharma secures $35million Series D funding for expansion

Ghanaian health tech startup mPharma has raised $35 million in a Series D round led by Citigroup Inc.

Other investors that participated in the round include AM Fund, a venture capital firm founded by Tinder co-founder Justin Mateen, Unbound, a growth investment firm founded by Shravin Mittal, managing director Bharti Global Limited (Bharti family investment arm), and Lux Capital, a New York City-based VC firm investing in science and technology ventures, were among the investors in the round. Northstar, Social...

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USTDA awards grant to Daybreak Power Solutions to promote clean energy access in Nigeria

The U.S. Trade and Development Agency (USTDA) has awarded a grant to Nigeria’s Daybreak Power Solutions, a subsidiary of African renewable energy company Daystar Power Group, for a feasibility study to help optimize clean energy supply to business entities in the country.

Daybreak Power Solutions selected Colorado-based Rocky Mountain Institute (RMI) to carry out the study. ''USTDA has long worked with our partners in Nigeria to help expand energy access and advance climate resilience,'' said...

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Allianz appoints Abderrahim Dbich as new CEO for Morocco

Allianz Africa announced the appointment of Abderrahim Dbich as CEO of Allianz Maroc, effective January 1st, 2022. He succeeds Joerg Weber, who will take on new responsibilities in the Allianz group.

Abderrahim was formerly Deputy CEO of AXA Assurance Maroc and member of the FMSAR Executive Committee (National federation of insurance and reinsurance). He drove the local strategy and the technical activities of AXA Assurance Morocco for more than 12 years and contributed to the launch of its...

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FSD Africa Investments injects £3 million into Kenya’s first factoring fintech

FSD Africa Investments (FSDAi), the investing arm of FSD Africa, has announced a £3 million investment into IMFact, an expanding fintech company that uses supply chain financing to provide working capital to micro, small and medium enterprises (MSMEs).

As a “pooled receivables” factoring business, IMFact purchases bulk invoices from MSMEs for a mix of upfront cash and deferred payments. This gives the sellers access to cash without the need to follow up or wait for invoices to be paid...

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Energy transition is central to Africa's economic future- IRENA, AfDB report

An integrated policy framework built around the energy transition could bring a wave of new sustainable energy investment to Africa, growing the region's economy by 6.4 per cent by 2050, results of an analysis published today by the International Renewable Energy Agency (IRENA) in collaboration with the African Development Bank (AfDB) revealed.

The report, 'Renewable Energy Market Analysis: Africa and Its Regions', shows that Africa is prospering significantly from development enabled by renewables, while greatly...

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[Nigeria Business Week] Andrea Ayemoba: Nigeria sets course to unify industry benefits, lead Africa's 5G

Following a turbulent year of stock market fluctuations, restrictions related to an ongoing pandemic and varying economic instabilities, predictions on Nigeria’s performance last year ranged from inferior to mediocre to excellent. 

Covid-19 limitations caused a dip in SME’s contributions to GDP and capital importations rose 97% as of Q3 2021. Growth trends could be observed in industries like Agritech, Startups, ICT and Banking, while others like Insurance, Manufacturing...

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[Column] Hardeep Sound: Four make-or-break priorities for East Africa’s economic recovery

How does the East African region achieve a full economic recovery from the impact of the pandemic while also building toward a more globally-competitive and sustainable future?

As the only region in Africa to avoid a recession in 2020, East Africa is poised for strong growth despite ongoing disruption from the pandemic. While the exact level of threat posed by the newly-discovered Omicron variant of COVID-19 remains to be seen, the reaction from the global community – travel..

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Global oil and gas investments to hit $628 billion in 2022 led by upstream gas and LNG, Rystad Energy

Global oil and gas investments will expand by $26 billion this year as the industry continues its protracted recovery from the worst of the pandemic and the hurdles imposed by the Omicron variant.

An analysis by Rystad Energy projects overall oil and gas investments will rise 4% to $628 billion this year from $602 billion in 2021. A significant factor behind the increase is a 14% increase in upstream gas and LNG investments. These segments will be the fastest-growing this year, with a jump...

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[Column] Andrew Bourne: What will online privacy and security look like in 2022?

In many ways, 2021 was a landmark year for online privacy. In April 2021, Apple rolled out an update allowing users to opt out of app tracking, with most iPhone users having done so by the end of the year.

There were even talks to disable tracking technology on the world’s most popular web browser. We also saw movement on the legislative front, with South Africa’s Protection of Personal Information Act (POPIA) coming into effect in July. (Kenya and Nigeria’s equivalent acts came into effect in 2019)...

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Moroccan economic growth could accelerate with full implementation of broad-based reforms, World Bank

In order to achieve broad-based growth and job creation, the sustained implementation of a multifaceted and ambitious reform agenda will be essential, according to the World Bank’s Morocco Economic Monitor, January 2022: From Recovery to Acceleration.

The report analyzes the growth performance of the Moroccan economy over past decades. Thus far, fixed capital accumulation has been the main driver of growth, with limited productivity gains and an insufficient contribution of labor...

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We provide business solutions on a large scale - CEO of Wragby Business Solutions and Technologies

Dr. Oluyomi Alarape, CEO of Wragby Business Solutions and Technologies Dr. Oluyomi Alarape is the current Managing Director and Chief Executive Officer of Wragby Business Solutions and Technologies. He assumed leadership of the company in January 2021, prior to which he served as its Executive Director.

Could you introduce your company to us?

Wragby Business Solutions and Technologies is a proven leader in the technology space across Africa, the first and only Azure MSP expert in the sub-Saharan Africa...

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[East Africa Business Week] Bob Koigi: What 2022 portends for East Africa

As the East African Community, EAC, member states eye innovative ways of deepening integration and trading more with each other, the bloc and individual countries are putting in place mechanisms, policies and legislation that seek to address longstanding hiccups that have put the brakes on seamless regional trade.

The EAC Secretariat recently convened a multi-sectoral meeting to consider the adoption of the EACPass, a harmonized system to facilitate cross-border movement, in a bid to end persistent border traffic snarl-ups disrupting intra...

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News Headlines

26-01-2022 | 15:13:00
Sodexo appoints Colm O'Mahony CEO of Africa & Middle East
Before joining Sodexo, O'Mahony held various roles in the catering and events industry in the UK and has been at the helm of managing numerous iconic events across the country’s sports and leisure industries.

26-01-2022 | 13:20:43
[Nigeria] Air Peace takes delivery of new A320 fleet
Nigerian-based airline, Air Peace, has taken delivery of two Airbus A320 aircraft, bringing the carrier’s Airbus fleet to four A320 aircraft.

26-01-2022 | 12:57:00
Homes & Villas by Marriott International launches in South Africa
Homes & Villas by Marriott International announced that almost 300 exclusive Cape Town, Johannesburg and Durban homes have been added to the platform.

26-01-2022 | 10:54:06
Paramount group appoints Steve Griessel as Group CEO
South African-born Griessel, a global business executive who served as CEO of several companies in South Africa and the United States, including two public companies, brings more than 30 years of business leadership and senior management experience to the group.

26-01-2022 | 09:42:00
NAS renews ISAGO certification in Cote d’Ivoire to enhance safety and quality
National Aviation Services (NAS), the aviation services provider in emerging markets, successfully renewed its IATA Safety Audit for Ground Operations (ISAGO) certification in Abidjan, Cote d’Ivoire for the third time.

26-01-2022 | 09:19:00
DHL Express SSA certifié top employer 2022 en Afrique
DHL Express, le leader mondial du transport express international, a été une nouvelle fois désigné « Top Employer » du continent africain par le Top Employer Institute.

26-01-2022 | 09:18:40
Boeing, Injaz al-Arab, and JA Africa partner to empower over 5,000 young African entrepreneurs
INJAZ Al-Arab, a member of Junior Achievement (JA) Worldwide, the world’s largest non-profit business education organization, has announced the strengthening of its partnership with Boeing.

26-01-2022 | 08:47:42
DHL Express SSA certified as top employer Africa 2022
DHL Express, the world’s leading international express provider, has once again been recognized as a Top Employer on the African continent by the Top Employer Institute.

25-01-2022 | 14:01:54
Orange Corners South Africa and AstraZeneca South Africa join forces to support for young entrepreneurs
Orange Corners South Africa (OC) and AstraZeneca South Africa have officially announced a new partnership to support Orange Corner’s programme in South Africa focused on creating an enabling environment for young entrepreneurs.

24-01-2022 | 12:54:54
South African Airways resumes flights to Durban
South African Airways (SAA) is to resume flights to Durban with three times daily return service effective 4th March 2022.

21-01-2022 | 15:23:06
GhanaWeb TV garners nearly 5 million views in first month of launch
Ghana’s first Advertising-based Video on Demand (AVoD) and free streaming news channel, GhanaWeb TV, has recorded 4.6 million views in the first month of its launch in November 2021.

20-01-2022 | 13:39:34
Netflix commits $1 million towards scholarships in Africa
The scholarship fund forms part of Netflix’s global Netflix Creative Equity Fund launched in 2021 to be allocated to various initiatives over the next 5 years with the goal of developing a strong, diverse pipeline of creatives around the world.

19-01-2022 | 10:33:35
Africa50 and Power Grid Corporation of India partner to pioneer Africa's first transmission PPP project in Kenya
Africa50, the pan-African infrastructure investment platform and Power Grid Corporation of India Limited (POWERGRID) signed a Joint Development Agreement to continue to develop the Kenya Transmission Project on a public-private partnership basis.

19-01-2022 | 09:41:00
Mastercard builds on its diversity commitment by joining pledge to accelerate gender balance in the UAE private sector
As part of its ongoing commitment to advance diversity and gender balance across its own operations, the technology industry, and the wider ecosystem, Mastercard has jointly signed an official pledge to meaningfully advance gender balance in the UAE.

18-01-2022 | 15:31:46
Dangote advocates unity, cooperation among Africans to get global recognition
President of Dangote Group, Aliko Dangote, has charged African leaders and citizens to be united in the promotion of the continent’s intrinsic greatness through improved trade relations amongst African countries.


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