Eskom Uganda to rehabilitate Kiira hydropower plant at a cost US$1.4m

UGANDA – Eskom Uganda, the subsidiary of South African energy utility Eskom, will invest US$1.4 million in the rehabilitation of the 200 MW Kiira hydropower plant. The project will be implemented by the Austrian company Andritz Hydro and the Austrian company will supply and install the new equipment, which will have a life cycle of 15 years.  The operations initiated by Eskom Uganda are aimed at upgrading the regulator in units 14 and 15 of the Kiira hydropower plant, located just outside the town of Jinja in the Eastern Region…

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MTN Rwanda sets up mobile money unit, appoints Chantal Kagame as its first head

RWANDA – Telecommunication company MTN Rwandacell Plc. (“MTN Rwanda”), has announced that it has received approval from the National Bank of Rwanda to set up its fintech subsidiary, Mobile Money Rwanda Ltd, to provide and manage mobile money services. The telecom giant has appointed Chantal Kagame as its Chief Executive Officer to drive business development, strategy, innovation, and day to day operations of the company. The setting up of Mobile Money Rwanda Ltd is in line with MTN Rwanda’s strategy to lead digital solutions while contributing to the national economic strategy…

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Huge potential for e-commerce growth in African markets – PayU

AFRICA – While South Africa, Nigeria and Kenya have the highest internet penetration in the continent, e-commerce penetration was at less than 40 percent, a report by PayU, a payments company has found. Among the three African countries included in the report, South Africa had the highest internet penetration at 56 percent, with Nigeria and Kenya at 46 percent and 31 percent respectively.  However, the report shows that e-commerce penetration was at 37 percent in both Nigeria and South Africa and at 25 percent in Kenya. The report by PayU…

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Tanzania to seal its US$30b LNG project in November 2021

TANZANIA – The government of Tanzania is looking to seal a US$30 billion liquefied natural gas (LNG) project within six months, after President Samia Suluhu called for a resumption of negotiations that had stalled for more than a year. One of the developers, Equinor ASA, took a US$982 million impairment on the project in January 2021, which it said would be reversible, after failing to settle terms with Tanzania’s government. Other project partners include Royal Dutch Shell Plc., Exxon Mobil Corp., Ophir Energy Ltd. and Pavilion Energy Pte. This will…

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German freight company Dachser group opens new warehouse in Morocco

MOROCCO – The Dachser group, a German freight company, has opened earlier this April a new warehouse in Morocco’s Tanger-Med port complex, the leading container port in the Mediterranean region and Africa. The global logistics leader has decided to expand its network in Morocco due to a growing demand among its customers. The 5,500 sq-m new warehouse can accommodate more than 7,000 pallets, offering customers across all industries storage solutions with better connections and optimum transit times. “The launch of this new site supports the development of our business. It…

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Private market investor Adenia sells its equity stake in Ademat to SPE Capital

AFRICA – Adenia, a private markets investment firm in Africa, has finalized the sale of its 100% equity stake in Ademat to SPE Capital, a private equity firm focused on Africa and the Middle East. Founded in Abidjan in 1983, Ademat is the leading provider of power security solutions in Côte d’Ivoire that provides a wide range of technical solutions for companies in various industries, including telecommunications, financial services, manufacturing, healthcare and hospitality. Since acquiring Ademat in September 2016 through its Adenia Capital (III) fund, Adenia has implemented a series…

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Three Ghanian startups to receive equity-free grant funding and support from MEST

GHANA – Three Ghanaian startups; Bosea, Wegoo, Motito, have been named top performers from the beta 2020 cohort of the MEST Express accelerator programme and will receive equity-free grant funding and support from MEST and the Mastercard Foundation. MEST Express is one of three new programmes, alongside Pre-MEST and MEST Scale, that MEST is currently running in partnership with the Mastercard Foundation through Young Africa Works, a 10-year strategy of the foundation to enable three million young people in Ghana to access dignified and fulfilling work. The programme aims to…

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NBE partners talabat to provide advanced digital payment solutions to its customers

EGYPT – National Bank of Egypt (NBE) has signed a partnership agreement with tech company talabat to provide advanced digital payment solutions through the company’s application, with ease and security prioritized, in order to reduce cash handling, report Daily News Egypt. The cooperation stems from the mutual strategic focus towards the expansion of electronic payments, as well as supporting the Egyptian government’s financial inclusion and digital transformation policies. Karim Sous, Chief Executive Officer of Retail Banking and Branches at the National Bank of Egypt, stated that this agreement comes within…

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Airtel Africa appoints Olusegun Ogunsanya as new Chief Executive Officer

AFRICA – Airtel Africa Plc, a provider of telecommunications and mobile money services, has announced the appointment of Mr Olusegun Ogunsanya as the new Chief Executive Officer. This follows the notice of retirement given by the current Managing Director and Chief Executive Officer, Raghunath Mandava, to the Board of the telecoms firm. As per the statement issued by the telco, Segun Ogunsanya will join the Board of Africa business from October 1, 2021. Along with this, the telco also appointed CFO Jaideep Paul as an Executive Director. He will join…

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DHL partners with Angola’s cargo carrier Unicargas to boost trade

ANGOLA – DHL Global Forwarding (DHL) has teamed up with Angolan cargo carrier, Unicargas to promote the export of locally-produced goods to Europe and the US. “Partnerships like this play a vital role in promoting economic growth, which are largely fueled by a vibrant pool of local enterprises ready to extend their reach. At DHL, we remain committed to enable the continent’s development by empowering African businesses to enter new markets. Our partnership with Unicargas is the perfect example of our approach to think globally and act locally, where strategic…

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