MOS partners BOG to promote growth of SMEs

GHANA – The Bank of Ghana (BoG) has partnered with the Monetary Authority of Singapore (MAS) to develop a programme that will promote the growth of Small and Medium-Scale Enterprises (SMEs) in the country. The project dubbed ‘Business Sans Borders’ is meant to assist SMEs in Ghana leverage digital technology to improve on their businesses as well as give them access to global market opportunities. The Second Deputy Governor, Dr Maxwell Opoku-Afari, said that the increasing adoption of digital payment and technology present opportunity for businesses to reach and gain…

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MobileMoney Limited appoints Eli Hini as its first Chief Executive Officer

GHANA – MobileMoney Limited (MML), a wholly owned subsidiary of Scancom PLC, has announced the appointment of Mr. Eli Hini as its first Chief Executive Officer. The appointment was made by the MML Board early in the month of April 2021, indicating Eli’s responsibility to drive strategy, business development, innovation and relevant operations for MTN’s Mobile Money business. Prior to Eli’s appointment as Chief Executive Officer, he was the General Manager for MobileMoney Limited, a role he held for approximately five years. He was instrumental in setting up Mobile Money…

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Novarick Homes set to invest in more sustainable and renewable lifestyle

NIGERIA – Novarick Homes and Properties, a real estate development company has announced that it is geared towards investment in more sustainable and renewable lifestyles as part of its contribution to achieve a conducive environment in Nigeria. The firm recently unveiled its new Ruby 2 and Ruby 3 collection of Semi-Detached and Terrace Duplexes, right in the heart of Lagos, Nigeria. The Ruby 2 project comprises of four units of exquisite Semi-Detached Duplexes with BQ which features spacious rooms, family lounge, fully fitted kitchen, a walk-in closet, Jacuzzi and well-equipped…

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Absa Bank appoints Punki Modise as interim financial director

SOUTH AFRICA – Financial services group Absa has appointed Punki Modise as an interim financial director and as an executive director on the boards of Absa bank. The announcement made by the financial institution comes after Jason Quinn who held the position of financial director was appointed interim Group Chief Executive. Quinn replaced Daniel Mminele who stepped down due to ’divergent professional views and approaches’ with Absa board. Commenting on his departure, the former CEO said: “It is indeed regrettable that we should have had to part ways so soon…

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South Africa’s online marketplace for home services Kandua raises funding from the Catalyst Fund to drive growth

SOUTH AFRICA – Online marketplace for home services that connects home service professionals to customers, tools, and digital financial services in South Africa Kandua, has received undisclosed funding from Global Catalyst Fund to drive growth in South Africa and increase its product portfolio. Just like the US-based marketplace Task Rabbit, Kandua hopes of ending the risk associated with hiring small, independent contractors who do home renovations, maintenance and repairs in South Africa and helps bring transparency in two-communication, invoicing and payments. Kandua was founded in 2015 by Arjun Khoosal and…

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BAT Kenya completes the first phase of its new US$23m ‘Lyft’ factory

KENYA – Cigarettes manufacturer British American Tobacco-Kenya (BAT) has completed the first phase of its new US$23 million Nairobi based factory. The hub centred on the production of free oral nicotine pouches for the African market and the globe is expected to support up to 80 new skilled jobs once complete. The factory is a central pillar in BAT’s diversification away from just the manufacture and marketing of cigarettes. Progress on the multi-billion facility nevertheless comes against an ongoing tug of war between the firm and Kenya’s Ministry of Health…

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French banks disavow Total-led East African crude oil pipeline project

EAST AFRICA – Three French banks have committed not to provide project financing for the Total-led East African Crude Oil Pipeline (EACOP). BNP Paribas, Société Générale and Crédit Agricole will not participate, France’s Les Echos newspaper has reported. “The project is too hard to defend,” Les Echos quoted an unnamed source as saying. A statement from Reclaim Finance noted that Barclays, Credit Suisse and ANZ had also said they would steer clear of the EACOP plan. The environmental NGO called on Natixis to follow suit. BankTrack researcher Ryan Brightwell called…

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