Author: Frank

General Electric appoints seasoned marketer Selam Amare to head Ethiopia operations

November 12, 2019

ETHIOPIA – American multinational conglomerate with projects in Healthcare, Aviation and Power, General Electric (GE) has announced the appointment of Selam Amare as the Country Leader for Ethiopia. In her new role, Selam will oversee GE’s operations in the country and strengthen our businesses presence in the market, the company said in a press statement. […]

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Africa Investment Forum kicks off delivering on the promise to strengthen investment opportunities

November 12, 2019

SOUTH AFRICA – The 2019 Africa Investment Forum kicked off by keeping the promises it made and to move from commitment to action. A US$500 million equity deal presented by the Africa Infrastructure Investment Fund last year, to speed up investments in agriculture, and a US$175 million equity transaction from the Africa Guarantee Fund for […]

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Visa openness in Africa unlocking intra-regional trade and investments potential, report shows

November 12, 2019

AFRICA – African travellers now have liberal access to over half the continent, the 2019 Africa Visa Openness Index published by the African Union Commission and African Development Bank, reveals. The report was launched on the sidelines of the Africa Investment Forum in Johannesburg, South Africa. On average, Africans can travel to approximately 27 countries […]

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Dangote Industries appoints Halima Aliko Dangote as Group Executive Director, Commercial Operations

November 12, 2019

NIGERIA – Dangote Industries Limited, one of Africa’s largest and most diversified business conglomerates has appointed Halima Aliko Dangote as the Group Executive Director, Commercial Operations of Dangote Industries Limited.  The company said in a statement that Halima will be responsible for leading the development and implementation of the Dangote Group’s customer strategy. The strategy […]

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FMO bank and European Commision to invest US$220m under newly signed deal

November 12, 2019

SOUTH AFRICA – FMO, a Dutch entrepreneurial development bank, and the European Commission (EC) signed a guarantee agreement for the FMO Ventures Program at the Africa Investment Forum in Johannesburg. The EC has provided €40m (US$44m) in guarantees to FMO’s innovative early-stage investment program. This is FMO’s second guarantee program within the European Fund for […]

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South African retailer Edcon sells stake in Edgars to Mauritian incorporated entity

November 12, 2019

ZIMBABWE – South African retail giant, Edcon has completed the disposal of its shareholding in Zimbabwe-based clothing chain Edgars Stores Limited to Mauritius incorporated entity SSCG Africa Holdings, as the group realigns operations to remain sustainable. Edcon controlled a 41 percent stake in Edgars Zimbabwe, which has 25 branches across the country as well as […]

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Increased access to finance solutions to help Vietnamese MSMEs take advantage of increasing foreign trade volume

November 12, 2019

VIETNAM— Vietnam’s foreign trade volume has increased in recent years, with free-trade agreements opening up new market opportunities for local businesses. However, lack of working capital and transaction banking services such as supply chain finance (SCF) partially hinders producers and suppliers from accepting large orders or developing new relationships with their value chain actors. As […]

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Agri-Vie offloads stake in South African abalone farming company to African Pioneer Group

November 12, 2019

SOUTH AFRICA – EXEO Capital’s Agri-Vie Fund 1, an agribusiness Investment Fund focusing on Sub-Saharan Africa has announced its exit from South Africa’s abalone farming companies, HIK Abalone Farm (HIK). The exit marks the end of an eight years rewarding partnership, bring in new partners, the African Pioneer Group, an investment company with other interests […]

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IFC’s inaugural Bangladeshi Taka ‘Bangla’ Bond raises US$9.5m to Support Private Sector Development

November 12, 2019

BANGLADESH—IFC, the largest global development institution focused on the private sector in emerging markets, has issued its inaugural bond in Bangladeshi Taka, raising 800 million BDT (about US$9.5 million) to support private sector development. IFC revealed in a statement that the funds will be used to expand operations and distribution for PRAN Group, one of […]

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South Africa’s Absa to open New York office to support growth

November 12, 2019

SOUTH AFRICA – South African lender Absa Bank is set to launch a new representative office in New York, USA to support its growth. The new office, to be located in Manhattan, will carry out a variety of activities including marketing of its banking services. The move was approved by the New York State Department […]

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