Year 9 | Edition 21 | 17 June 2022
 
Standard Chartered partners with UNECA and FSD Africa to accelerate sustainability commitment in Africa

In line with Standard Chartered’s vision to be the most sustainable and responsible bank in the world, the Bank has announced its partnership with Ghana’s Ministry of Environment, Science, Technology & Innovation (MESTI), and the UK-funded financial sector development agency FSD Africa as founding members of the African Natural Capital Alliance (ANCA).

The Alliance, in partnership with the United Nations Economic Commission for Africa (UNECA), will act as an African-led collaborative forum for mobilizing the financial community’s response to nature-related risks and opportunities across...

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IFC partners with Fouta Cement to support manufacturing and construction development in Liberia

To support local manufacturing and infrastructure development in Liberia, IFC announced a partnership with Fouta Cement, Liberia's second-largest cement supplier, to increase production and reduce Liberia's reliance on imported construction material.

A financing package arranged by IFC, will help Fouta Cement build and operate a cement grinding plant in Monrovia with an annual production capacity of 350,000 tons, creating 250 jobs during operations. The financing package of up to $21.2...

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National Bank of Kenya appoints Peter Kioko as the Acting Managing Director

The Board of National Bank of Kenya (NBK) announced the appointment of Peter Kioko as the Acting Managing Director. The position became vacant following the appointment of Paul Russo as the KCB Group Chief Executive Officer in May. NBK is a subsidiary of KCB Group.

Announcing the appointment, Russo said, “KCB Group is delighted to have Peter steer National Bank to greater heights. Peter has played a pivotal role in driving the transformation of National Bank. Hence his appointment reflects our commitment to continue strengthening the business...

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IFC partners with Vista Bank to boost trade finance for businesses in West Africa

To increase the availability of trade finance in Guinea and Burkina Faso and support imports of essential goods into the countries, IFC, through its Global Trade Finance Program (GTFP), announced a partnership with Vista Bank, which serves clients across West Africa with a wide range of financial services. 

IFC's trade facilities of up to $24 million to Vista Bank's subsidiaries in Guinea and Burkina Faso ($12 million each) will help the banks to finance imports of foodstuffs, raw materials, refined oil products, equipment, consumer goods, and other...

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South Africa's Private equity fund PAPE acquires interest in fintech provider Entersekt

Entersekt, a global player in device identity and payment authentication, announced a new investment from PAPE Fund 3 (PAPE), a mid-market South African private equity fund. Entersekt ’s software currently secures over 1 billion transactions every month, protecting millions of financial services customers across the globe.

Entersekt is recognized as an innovator in the global authentication market, known for delivering market and industry firsts. With this investment, PAPE joins Entersekt’s impressive shareholder base that includes Nedbank Private...

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ZainTech partners with LigaData to deliver data-driven digital services in MENA

ZainTech, the digital and ICT solutions powerhouse of Zain Group, has announced a partnership with data analytics specialist, LigaData to support its vison to deliver cutting-edge, data-driven digital services to enterprise and government customers across the Middle East and North Africa (MENA).

ZainTech is a centralized service provider focused on advancing the use of digital technologies such as cloud, cybersecurity, big data, IoT, AI, smart cities, drones, robotics, and emerging technologies. The strategic partnership...

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MFS Africa raises $100m funding to accelerate its expansion plans across Africa and Asia

MFS Africa, Africa’s digital payments network, announced it has secured an additional $100 million in equity and debt funding led by Admaius Capital Partners, taking the total amount raised in the series to $200 million.

New investors, Vitruvian Partners and AXA IM Alts joined the extension, alongside existing investors, AfricInvest FIVE and CommerzVentures, who re-invested in the extension. Previous other investors include LUN Partners Group, Goodwell Investments, Allan Gray Ventures, Endeavor Catalyst and...

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WhatsApp launches campaign to profle SMEs from across Africa

WhatsApp has announced the launch of the WhatsAppreneurs campaign, profiling small entrepreneurs from Africa who are using the WhatsApp Business app to grow their business and reach more customers.

The campaign will highlight the stories of Small and Medium Business owners in Africa, and help them and others like them learn more about business growth opportunities available with the WhatsApp Business app through a virtual educational webinar. “Across Africa, small and medium business owners...

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Jobomax, Sankofa announce joint venture pilot housing project in Ghana

Sankofa Capital, a Philadelphia-based Real Estate Development Company and Jobomax Global, West Africa's most trusted homebuilder, announced a joint venture pilot housing project in Ghana.

The homes can be either owner-occupied residences or income generating investment properties, appealing to buyers in the historical and recent diaspora as well as those currently living in Ghana. Keith Williams, Founder and CEO, Sankofa: "As an African-American owned real estate developer I have always...

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CrossBoundary Energy Access raises $25 million to finance solar powered mini-grids in Africa

Africa’s first project financing facility for mini-grids, CrossBoundary Energy Access (CBEA), announced $25 million in new funding commitments from ARCH Emerging Markets Partners Limited, Bank of America, and Microsoft Climate Innovation Fund.

This investment will leverage an additional $25 million in senior debt to deploy $50 million of capital into CBEA’s near-term pipeline of solar powered mini-grids. CBEA will deploy a total of $150 million over the next two years to bring clean...

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Microsoft to work with partners to drive digital transformation in Africa’s agriculture

Microsoft has reaffirmed its commitment to working with both the private and public sectors to accelerate digital transformation in African agriculture in order to increase food security for the continent.

Speaking during a virtual roundtable panel discussion on the topic, Microsoft Kenya Acting Country Manager Kunle Awosika said the organisation is committed to continue investing in agritech on the continent, with the goal of developing agritech that enables data-driven, precise and connected farming...

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African fintech Flutterwave appoints former American Express Executive as new CFO

Flutterwave, Africa's leading payments technology company has announced the appointment of Oneal Bhambani as its new Chief Financial Officer (CFO)

Bhambani joins the Nigerian fintech startup from American Express and Kabbage where he managed fintech products. Kabbage is a subsidiary of American Express that offers a broader set of cash flow management tools to millions of businesses. He was the CFO and Head of Capital Markets at Kabbage. Among other functions, Kabbage provides credit...

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Online education to bring in $149 billion in revenue in 2022, report

Online education has become a prominent industry during the past decade. According to the numbers presented by StockApps.com, the online education industry is set to make $148.57 billion in 2022. Furthermore, the industry is headed in the right direction and is expected to grow by 10.8% year on year in 2022.

According to the data available on Statista, the online education sector is expected to grow at an annual growth rate (CAGR) of 10.68% between 2022 and 2026. The industry was worth only $65.61b in 2017. As stated above, the annual...

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Global wealth stands at over $530 trillion, research

Global wealth shot up to new levels of $530 trillion in 2021. A MoneyTransfers data presentation revealed a 10.6% increase from 2020 when it was $479 trillion. The value represents the most significant yearly rate in the past decade.

MoneyTransfers’s CEO Jonathan Merry said this about the report: “We can attribute the rise to robust equities markets and a surge in consumer interest in purchasing real assets such as wine, art, and property. A lot is ongoing around the globe currently. From inflation to Russia’s invasion of...

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[UNICAF] Scholarship Opportunities

Unicaf is an online and blended learning higher education platform that is dedicated to making higher education of international standard accessible, by offering scholarship opportunities to professionals and young school leavers.

What are scholarship opportunities?

A scholarship could be defined as financial aid that relieves the burden of tuition fees and living costs that students and families have to pay to secure a place in secondary and tertiary education. Considering the rising costs of student expenses and debts, we could nowadays describe education...

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The Africa Trade Expo (TATE) | Virtual Conference and Trade Show | 9 March 2022 - 9 March 2023

The Africa Trade Expo (TATE) presents direct access to African buyers whose main aim is to source the latest products, establish partnerships, and conclude import/export deals. TATE is an ongoing virtual trade show for African businesses to network, collaborate, and enter into partnerships with international manufacturers and exporters. Present your new opportunities, network, build relationships and grow your business in African markets...

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Future Foods | African Food & Beverage Industries Virtual Conference & Trade Show | 9 March 2022 - 9 March 2023

Future Foods is a virtual meeting place for importers, F&B managers, retail category buyers, owner-operators, agents, and distributors from across Africa’s diverse and booming market to come to conferences, to network, meet exhibitors, source products, new ingredients, retail shelf-ready products, and the latest processing, packaging, and logistics solutions. Future Foods connects attendees exhibitors across the...

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[Forum] How has the COVID-19 pandemic affected business operations in Nigeria?

Africa Business Communities has spoken with several founders, CEOs and startups in diverse industries in Nigeria about how the global pandemic has affected their business operations. For some, it was a game changer, for others it had little to no effect. And then there were those who saw a positive impact and even improvement in their work...

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[Interview] Michelle Matthews, Director, Viridian, South Africa

An estimated 45% of young people aged 34 years in South Africa were not in employment, education or training last year according to data released by Statistics South Africa in Q4 of 2021. In 2022, predictions for the South African youth unemployment rate are projected to be as high as 64%.

Following the rising levels of unemployment among young South Africans, the UK-South Africa Tech Hub Launch League initiative undertook a research project dubbed ‘Skills and Training offered by South Africa’s Hub Network: How can...

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[Interview] Kate Woolley, Ecosystem General Manager, IBM

Kate Woolley is the IBM Ecosystem General Manager. In this interview, she talks about her priorities and her big plans for growing the IBM Ecosystem.

What prompted you to take the IBM Ecosystem leadership role?

When I look at the future of IBM the chairman and CEO Arvind Krishna has defined and that we’re executing towards, there are three big priorities – Hybrid Cloud and AI, Innovation and technical expertise, and the ecosystem. In looking at these priorities and where I wanted to go next, I saw the IBM...

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[Column] James Chester: South Sudan: The emerging hub for East African petroleum sector growth

A few years ago, East Africa was primarily viewed as a venue for offshore exploration, and before its independence in 2011, South Sudan was more likely to be seen as a North African producer, as part of Sudan. But motivated governments and explorers have changed the picture.

Today, Kenya is a small-scale oil producer and Uganda has approved a massive oil development in its Lake Albert region and a refinery and export pipeline. Tanzania will export Uganda’s oil and will build its own LNG facilities to monetize...

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[Column] Sunil Geness: Serving vulnerable communities raises stakes for public sector digital transformation

The ongoing damaging impact of the pandemic combined with a growing number of climate-related emergencies is bringing into stark relief government’s ability to provide essential public services to vulnerable communities.

I recently visited the province of my birth, KwaZulu-Natal following the devastating floods. The desperation of the people and scale of the disaster has seen tens of thousands of displaced citizens turning to government to provide a broad range of relief measures, while damage to critical...

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[Column] Alexandra Fraser: Angel investors plugging the early-stage funding gap in sub-Saharan Africa

One of the biggest challenges facing entrepreneurial startups in sub-Saharan Africa is funding – particularly early-stage financial support – even though the landscape across the region has evolved over the past few years with more funders and capital deployed in this space.

This has been driven primarily by a growing appetite for alternative investments, successful recent exits, e.g., Paystack in Nigeria, and the fact that startup investments have become more accessible. However, this capital increase is not evenly...

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[Column] Valery Njiaba: Digital Rights and Inclusion Forum’s Londa report calls for more digital transparency and protection across Africa

While many governments in Africa have made welcome progress toward digital transformation in the last year, more work needs to be done towards offering transparency, digital inclusion, and the protection of digital rights to citizens across the continent.

This was the main finding of the Londa report, launched recently at the Digital Rights and Inclusion Forum (DRIF) 2022. Held between April and May this year, DRIF brought together over 1000 delegates and participants for 39 days...

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[Column] Imane Charioui: Remittances play a defining role in binding migrants to their families back home

If you speak to most migrant workers, you will hear of the extended financial support they provide to their families back home, as well as the large development projects they are funding. This they achieve by hiving off a portion of their income and sending it to their respective countries using different remittance services.

Currently, about one billion people in the world are involved with remittances, either by sending or receiving them – one in nine people are recipients of these flows of money sent by their family members who have migrated for work...

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[Nigeria Business Week] Andrea Ayemoba: Government, Industries move to expand women enterprise

With plunging profits in its prized sector, oil and gas, and an ever-climbing inflation, Nigeria is increasingly turning to what most of the world has been blind to – the potential of women in business.

In the past several weeks, we have seen powerful industries refocus their resources toward empowering women in both rural and urban Nigeria. The Federal Government this week made a deal with a trade bank to welcome more women into the oil and gas sector and Wema Bank is in partnerships to...

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[East Africa Business Week] Bob Koigi: South Sudan remains a strategic player in the region’s petroleum industry

Owing to its strategic position at the heart of a wider Nile Basin-East Africa hydrocarbons-rich area, South Sudan is emerging as the hub for petroleum industry services and exploration in the region. As a result, investors have been pitching tent at the East African nation in droves, a move that is having ripple effects across the region.

In East Africa’s education matters, Kenya Institute of Curriculum Development (KICD) ha partnered with Old Mutual in developing a financial literacy online orientation course for junior and senior secondary teachers. The course is...

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News Headlines

05-07-2022 | 12:55:00
L'African Business Roundtable promeut le commerce Africain lors de la Journée annuelle de l'Afrique de la SABC
L'African Business Roundtable a participé en tant que partenaire institutionnel et sponsor à la 10e Journée annuelle de l'Afrique du Swiss African Business Circle 2022 à Baden en Suisse.


05-07-2022 | 11:16:00
The African Business Roundtable promotes African trade at SABC Annual Africa Day
The African Business Roundtable participated as an institutional partner and sponsor at the Swiss African Business Circle 10th Annual Africa Day 2022 in Baden Switzerland.


04-07-2022 | 11:26:00
African Business Roundtable nomme Africa Influencer Agency comme partenaire RP
L'African Business Roundtable a choisi la maison de médias Africa Influencer Agency pour être responsable de ses campagnes marketing et médiatiques.


04-07-2022 | 11:06:00
USAID announces $74m early grade reading in Malawi
The U.S. government, through the U.S. Agency for International Development (USAID), is supporting Malawi’s vision for early grade literacy through the new Next Generation (NextGen) early grade reading project.


04-07-2022 | 10:18:31
Anghami acquires live events and concerts company Spotlight
Anghami Inc., the leading music and entertainment streaming platform in the Middle East and North Africa, has announced the acquisition of Spotlight Events, an events and concert company specialized in managing and executing live events and concerts in the region.


04-07-2022 | 08:30:00
African Business Roundtable appoints Africa Influencer Agency as PR partner
The African Business Roundtable has chosen media house Africa Influencer Agency to be responsible for its marketing and media campaigns.


04-07-2022 | 08:26:00
Eni Rovuma Basin hands over school infrastructures at Cidadela das Crianças Primary School
Eni Rovuma Basin, on behalf of the Area 4 partners and together with ADPP, has inaugurated a school sports infrastructures at the Cidadela das Crianças community primary school in Maputo.


01-07-2022 | 11:09:00
ADEX, EBID sign financing agreement to boost UAE exports to West Africa
Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), signed a financing agreement with the ECOWAS Bank for Investment and Development (EBID), to boost Emirati exports in the African market.


01-07-2022 | 10:28:00
Qatar Airways partners with Airlink to enhance connectivity across Southern Africa
Qatar Airways and Airlink signed a comprehensive codeshare agreement to offer travellers more choices, enhanced services and greater connectivity between 45 destinations in 13 countries across southern Africa and the rest of the world.


30-06-2022 | 12:41:00
Guinea eases cross-border trade
Trading across borders between Guinea, Sierra Leone and Liberia to be made easier for small-scale traders and women.


30-06-2022 | 10:59:00
Le directeur national d'ABR Côte d'Ivoire plaide en faveur de l'autonomisation des femmes.
Lors du récent Africa CEO Forum, Massogbè Touré, directrice nationale de l'ABR Côte d'Ivoire, a participé à un panel. Elle a utilisé la plateforme pour discuter de la structure panafricaine de l'ABR, en célébrant ceux qui ont cru en capacité des femmes de valeurs.


29-06-2022 | 17:50:00
ABR Côte d'Ivoire Country Director makes a case for women empowerment
At the recent Africa CEO Forum, Massogbè Touré, the Country Director at ABR Cote d'Ivoire participated as a panelist. She used the platform to discuss the pan-African structure of ABR, celebrating those who have believed in the capacity of women of values.


29-06-2022 | 11:00:00
[Nigeria] NCC, 3R sign pact on revenue assurance solutions
The Nigerian Communications Commission (NCC) has finally signed a Public Private Partnership (PPP) agreement with its consultant, 3R Company Nigeria Limited, for the execution of the Revenue Assurance Solutions (RAS) to strengthen and manage the integrity of revenue generation process in the Nigerian telecommunications industry.


29-06-2022 | 10:24:34
Wego and German National Tourism office GCC partner for the Third Year running
Wego, the largest online travel marketplace in the Middle East and North Africa (MENA), and German National Tourist Office for the GCC sign new partnership to inspire travellers to visit the country post COVID-19.


28-06-2022 | 13:17:21
Kazera Global to acquire majority stake in Kenya's Great Lakes Graphite
Kazera Global announced the signature of Binding Heads of Terms for the proposed acquisition of a 71% interest in Great Lakes Graphite, which owns 100% of 3 exploration licenses covering the Homa Bay and Buru Hill Rare Earth Elements in Kenya.


 


 
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