BimaLab Innovation Accelerator opens applications to support Kenyan InsurTech startups

KENYA – BimaLab, an initiative of FSD Africa, the Insurance Regulatory Authority of Kenya, and Tellistic Technology Services has opened applications for its second cohort into its KES 5.3 million (approximately US$50,000) InsurTech accelerator program. The BimaLab  2 accelerator program is open to 12 innovators who will benefit from a ten-week program that will provide them with expertise, resources, and support to develop and scale market-ready solutions following BimaLab I, a  successful pilot ran in collaboration with the Insurance Regulatory Authority of Kenya (IRA Kenya), the UK-Kenya Tech Hub, the UK…

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Platinum miners eye solar power as a green answer to load shedding

SOUTH AFRICA – The world’s biggest platinum miners are ramping up plans to build renewable energy plants to free them from power outages that have plagued South Africa for more than a decade and to reduce their carbon footprint. Sibanye Stillwater, the number one platinum miner, Impala Platinum Holdings and Anglo American Platinum said they plan to scale up solar and wind farms for their own use to cut reliance on state-owned utility Eskom, some of whose aging coal-fired plants have failed to keep up with electricity demand. South Africa…

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City Lodge Group sells hotels in Kenya and Tanzania for US$9.6m

TANZANIA –  South Africa’s City Lodge Hotel Group is selling its stakes in three hotels in Kenya, as well as its City Lodge Hotel Dar es Salaam in Tanzania, to subsidiaries of the UK-based investment firm Actis. The Kenyan hotels, 127-room Fairview Hotel in Nairobi, the 171-room City Lodge Hotel at Two Rivers in Runda also in Nairobi and the 84-room Town Lodge Upper Hill in Nairobi, will be sold for almost R141 million (US$9.5 million) while the Tanzanian hotel will fetch R1 million (US$67,366).  The 148-room City Lodge Hotel…

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Eni and Kenyan government sign MoU to promote biofuels

KENYA – Oil and gas company Eni and Kenya’s Ministry of Petroleum and Mining have signed a Memorandum of Understanding (MoU) to promote the decarbonization process. The MoU will tackle climate change through new industrial models of a fully integrated circular economy along the whole biofuel production value chain. They will jointly conduct feasibility studies to develop waste and residue collection as well as agricultural projects, with the purpose of establishing a wide range of feedstock sources that do not compete with food cycles, to be transformed into biofuels and…

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