Smile Telecoms makes changes in leadership of board and management

AFRICA – Smile Telecoms Holdings Ltd, a Pan-African telecommunications group, has announced significant changes in the leadership of the Group’s board and management. The Group announced the retirement of Ms. Irene Charnley and Mr. Mohammed Wajih Sharbatly from the Group’s Board and all boards of the operating companies, effective January 1st, 2021. Ms. Irene Charnley, the Founder of Smile, has retired as Deputy Chairman from the Smile Telecoms Limited Board. Mr. Mohammad Wajih Sharbatly is a Co- Founder of Smile and has acted as Co-Chairman of the Group through December…

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Data centre MDXi to promote sustainable development by reducing greenhouse gas emission

NIGERIA – MDXi, a carrier-neutral data centre and a fully owned subsidiary of MainOne, the broadband infrastructure company, has announced focus on reducing greenhouse gas emission in its quest to promote sustainable development. The organisation has a focus on deliberate action and a commitment to doing what is right even though it comes at a high cost. Obtaining 100 per cent of its power supply from the national grid due to private investment implies the company can reduce its dependence on fossil fuels. In addition, even before construction commenced, the…

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IFAD reappoints its president Gilbert Fossoun Houngbo for a second four-year term

TOGO – International Fund for Agricultural Development (IFAD) has announced the reappointment of Gilbert Fossoun Houngbo, a senior official and former Prime Minister of Togo, as its head for a second term. IFAD’s board of governors, the Fund’s main decision-making body, has renewed its trust in him, for a second four-year term. Gilbert has headed the Rome-based institution since 2017. Not long after he was reappointed, the Togolese announced, on social networks that he would focus, during his new term, on consolidating actions undertaken in the first. “My first priority…

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Sasol reduces its debt by US$4.26b, avoids dilutive rights issue

SOUTH AFRICA – Petrochemical giant Sasol has reiterated its decision not to pursue a rights issue, as the group made headway in reducing its debt burden by US$4,26 billion  for its half-year to the end of December 2020. Sasol published its latest results on the Johannesburg Stock Exchange, which showed that the group’s total debt at the end of its interim period stood at US$8.49 billion, compared to US$12.8 billion as at June 30, 2020  for the full-year. This is a notable cut within just six months, which comes largely on the…

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Health payment provider CarePay lends US$18.2m to private healthcare providers in Kenya

KENYA – CarePay,  a platform that supports private and public health plans with smart mobile health wallets to provide access to good healthcare has lent out US$18.24 million to private healthcare facilities last year, largely to fund acquisition of essential equipment and expansion. The loan facility, under CarePay’s medical credit fund (MCF), saw disbursements go up from about US$456204 per month by the third quarter in 2020 to more than US$3.65 million a month in the fourth quarter. “We used our data on medical care expenses made via our platform, M-tiba,…

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Kenya grants British products 25-year free entry in trade pact

KENYA – British companies will get 25-year tax free period to ship goods to Kenya under the trade agreement signed by the two countries. The post-Brexit trade deal with the United Kingdom will, however, open the window for British companies to flood the Kenyan market with finished and unfinished goods that exclude agricultural and industrial products at the expiry of a seven-year moratorium. The details of the trade agreement were revealed by Kenya’s Ministry of Industrialisation, Trade and Enterprise Development as it asked Parliament to ratify the Economic Partnership Agreement…

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