Maroc Telecom company renames all its subsidiaries to Moov Africa

WEST AFRICA – Maroc Telecom, a telecom company, has renamed all its eleven subsidiaries in Africa to Moov Africa as of January 1, 2021. The group majority owned by the Emirati Etisalat evokes “a new chapter” in its international development. Present in Morocco (domestic market), in Benin, in Burkina Faso, in Côte d’Ivoire, in Gabon, in Mali, in Mauritania, in Niger, in the Central African Republic, in Chad and in Togo, the operator who claims more of 70 million customers on the continent wants to unite its subsidiaries around a…

Read More

Universal Music Group announces key leadership appointments in Africa

AFRICA – Universal Music Group (UMG), the world leader in music entertainment, has strengthened its position as the leading music company in Africa by announcing a strategic expansion of its Sub-Saharan Africa leadership team. These appointments underscore UMG’s ongoing commitment to support and grow Africa’s domestic music ecosystems, while also creating new opportunities for African talent to reach new audiences globally. UMG’s holistic approach to expanding operations across the continent, opening new divisions in Nigeria, as well as becoming the first major music company to establish divisions in Kenya, Côte d’Ivoire,…

Read More

Trading under the AfCFTA takes effect from January 1

AFRICA – Trading under the African Continental Free Trade Agreement (AfCFTA) began on January 1, 2021, unlocking opportunities for liberalized trade for the continent’s private and public sectors. The trading scheduled to start in July 2019 delayed because of the coronavirus pandemic. The trade commencement opens a single continent market estimated at US$3 trillion, opening intra-African exports worth over US$84 billion. Beyond trade, the deal will have multiple benefits, such as unlocking over 2 million jobs in Eastern Africa and generating welfare gains of up to US$1.8 billion in the region. Intra-African…

Read More

Kamil H. Al-Awadhi appointed IATA’s regional vice president for Africa and Middle East

MEA – The International Air Transport Association (IATA) has announced the appointment of Kamil H. Al-Awadhi as IATA’s regional vice president for Africa and Middle East (AME), effective 1 March 2021. Al-Awadhi succeeds Muhammad Albakri who will become IATA’s Senior Vice-President for Customer, Financial, and Digital Services (CFDS), also effective 1 March 2021. As previously announced, Albakri will replace Aleks Popovich in the CFDS role upon his retirement. Most recently, Al-Awadhi was CEO of Kuwait Airways, a responsibility he held from November 2018 through August 2020. That capped a 31-year…

Read More

CNN International Commercial partners Afreximbank to empower emerging and expanding businesses

AFRICA – CNN International Commercial (CNNIC) has announced that it has partnered with African Export-Import Bank (Afreximbank) on a new long-term initiative to showcase, empower and tell the stories of emerging and expanding businesses, which are known as scale-up companies, across Africa. In the first partnership of its kind, CNNIC says that it has combined a rich suite of branded content and sponsorship solutions across multiple platforms with Evolve, a new commercial offering to engage CNN’s audiences around the world in a new way about African business and innovation. In…

Read More

Burundi to revive national carrier “Burundi Airlines” in 2021

BURUNDI – The government of Burundi has revealed plans to launch a national carrier dubbed Burundi Airlines. The government’s planned launch comes 11 years after the failure of Air Burundi, the previous national airline. The country cabinet says that Burundi Airlines will be a merger of the fallen predecessor, Air Burundi, and Société Burundaise de Gestion des Entrepôts et d’Assistance des Avions en Escale (SOBUGEA), a state agency that runs Burundi’s airports. The Burundi government will own 92% of the national airline. Consequently, the state insurer, Societe d’Assurances du Burundi (SOCABU), will…

Read More

Rwanda’s HQ Peat Power Plant construction nears completion after more than 3 years

RWANDA – MHQ Peat Power Plant in Rwanda is nearing completion after approximately three years of construction, the General Manager of HQ Power Dominique Gubbini, the General Manager of HQ Power, the company behind the development of the facility has said. HQ Power is owned by a Turkish investor called HAKAN AS, an international power company dubbed Quantum Power, with the participation of Themis, a leading project developer and investor with an exclusive focus on incremental renewable power generation assets in Sub Saharan Africa. Mr. Gubbini said that by March 2021, the plant which…

Read More

DFC, Prosper Africa announce series of efforts to expand U.S. investment in Morocco

MOROCCO – U.S. International Development Finance Corporation (DFC) Chief Executive Officer and Prosper Africa Executive Chairman Adam Boehler has announced a series of efforts to expand U.S. investment in Morocco and strengthen its role as an economic hub for the continent. In sum, these initiatives seek to mobilize US$5 billion in investments in Morocco and across the region. They announced that the opening of a Prosper Africa office to be based in Morocco. Through the Prosper Africa initiative, the U.S. Government aims to support US$1 billion in new two-way trade…

Read More

Angola to source 6,000 tonnes of steel from SSAB for photovoltaic solar parks

ANGOLA – SSAB Borlänge a Nordic and US-based steel company and SSAB Arendal are set to supply 6,000 tonnes of steel to build a number of photovoltaic solar parks in Angola. The plants will strengthen electricity supply in the country and help Angola to switch to renewables and reduce dependency on fossil fuels. The first step in the international business project was recently concluded with the Swedish Export Credit Corporation (SEK) financing the transaction, which is guaranteed by the Swedish Export Credit Agency (EKN). Among the international parties involved in…

Read More

Siemens Gamesa seals its first wind farm project in Ethiopia

ETHIOPIA -Siemens Gamesa, a global leader in renewable energy, has signed its first wind power project in Ethiopia with state-owned electricity company Ethiopian Electric Power (EEP), strengthening its leadership in Africa as the country begins to expand its green energy capacity to meet ambitious renewable targets. The 100 MW Assela wind farm will be located between the towns of Adama and Assela, approximately 150 km south of the capital, Addis Ababa, and will contribute to clean and affordable power for the country’s electricity grid. The country has set an ambitious…

Read More