Liquidation of Thomas Cook’s assets on high gear as EasyJet, Jet2.com buy slots in UK airports

November 12, 2019

UNITED KINGDOM – British budget airlines easyJet and Jet2.com have bought the take-off and landing slots of failed travel company Thomas Cook at London Gatwick and Manchester airports, respectively. Thomas Cook’s UK business and airline went into immediate insolvency when the company collapsed in September, and a court appointed an official receiver to liquidate its […]

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US solar company SunPower to splits into two business units to enhance efficiency

November 12, 2019

UNITED STATES – U.S. solar company, SunPower has revealed that it will split into two publicly traded companies, separating most of its solar panel manufacturing operations from storage and energy services. The announcement resulted in a spike in the company’s share value sending its shares up as much as 15%. The move according to a […]

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Adidas to close German, U.S. robot factories, says deploying tech in Asia would be more economical and flexible

November 11, 2019

GERMANY – Adidas has announced plans to close the high-tech “robot” factories in Germany and the United States it launched to bring production closer to customers. The sportwear manufacturer said in November that deploying some of the technology in these factories in Asia would be “more economic and flexible”. The Adidas factories were part of […]

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ICEA Lion acquires Stanlib Kenya for US$15m

November 11, 2019

KENYA – ICEA Lion Asset Management, a Kenya based fund manager, signed an agreement to acquire  100 percent stake in Stanlib Kenya, another Kenya based fund manager, for an estimated KSh1.5 billion (US$15m). The transaction, expected to be completed early next year, will also see ICEA inherit from Stanlib the role of managing property fund […]

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Zimbabwe’s Twenty Third Century Systems secures utilities deal in Kenya

November 11, 2019

KENYA – Zimbabwean tech firm Twenty Third Century Systems (TTCS) has inked a deal to install digital smart metres at Kiambu’s Tatu City to enable residents to monitor their water and power consumption. The integrated smart city technology platform will enable collection and analysis of utility consumption data. It will also provide diagnosis and allow […]

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Amazon to set up an Amazon Web Services Edge location in Kenya

November 11, 2019

KENYA – Amazon, which operates Amazon Web Services-the biggest cloud computing platform in the world plans to set up an “edge location” in Nairobi They have several data centres around the world but their presence in Africa has been largely small. An edge location is a site that caches copies of content so that there […]

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Huawei Technologies names Yang Shengwan new Rwanda Country Manager

November 11, 2019

RWANDA – Huawei Technologies Company Ltd, a Chinese multinational technology company that provides telecommunications equipment and sells consumer electronics, including smartphones, has appointed Mr. Yang Shengwan as its new managing director for their Rwanda Operations. Yang who replaces Xiong Jun comes with a working experience of approximately eight years in senior management positions in countries […]

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German development finance institution, DEG opens representative office in Nigeria to oversee West Africa operations

November 11, 2019

NIGERIA – German development finance institution Deutsche Investitions- und Entwicklungsgesellschaft (DEG) has opened a representative office in Lagos, Nigeria’s economic hub, to pool DEG’s activities in the West African countries. A statement released by KfW (which is DEG’s parent institution) noted that, “By further expanding its office in Lagos, DEG recognises the strategic importance that […]

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Total to sell US$750m Nigerian oil block as part of global asset liquidation drive

November 11, 2019

NIGERIA – Total Group is seeking to sell its 12.5 per cent stake in a major deepwater oilfield off the coast of Nigeria, in an effort to adjust the energy company’s Africa portfolio amid a broad expansion, The Punch Nigeria has reported.  According to The Punch Nigeria, Total’s stake in Oil Mining Lease 118, which […]

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Planned Launch of central electricity grid control set to increase energy access in ECOWAS region

November 11, 2019

WEST AFRICA – The West African Power Pool (WAPP) has announced that a central control centre that will be used to manage and operate all electricity grids in West Africa shall begin operations by 2020. The Secretary-General, WAPP, Siengui Appollinaire, told journalists on the sidelines of the executive board meeting of the agency that there […]

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