Ethiopian Airlines and Boeing sign MoU to position Ethiopia as Africa’s aviation hub

ETHIOPIA – Ethiopian Airlines Group and the Boeing Company have signed a strategic Memorandum of Understanding (MoU) on positioning Ethiopia as an aviation hub for Africa. Building on the two parties’ seventy years of shared history in aviation, the MoU aims at positioning Ethiopia as Africa’s aviation hub – “Ethiopia for Africa”.    Boeing has recognized Ethiopian as a global aviation leader in the continent and the MoU is indicative of Boeing and Ethiopian Airlines interest to establish a mutually beneficial world-class aviation partnership. To realize their shared vision, Ethiopian and…

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B2B startup Sabi secures seed funding round to expand its network across Nigeria

NIGERIA – Sabi, a B2B startup serving Africa’s informal sector, has secured a seed funding round as it announces the milestone of over 150,000 small business users on its platform. According to the startup, the raised fund will be deployed in growing its network across Nigeria, thus onboarding new sales merchants. The funding round saw backing from investors including Atlantica Ventures, CRE Ventures, Waarde and Janngo Capital. IT has now closed a seed round with backing from investors including CRE Ventures, Janngo Capital, Atlantica Ventures, and Waarde Capital. Sabi is…

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Turkish company Desiba Energy to construct 20 MW solar power plant for US$31.83m

GABON – The Gabonese State, through the ministry in charge of investment promotion, has signed a contract with the Turkish company Desiba Energy for the construction of a solar power plant with a capacity of 20 MW. Desiba intends to invest 27 million euros (US$31.83m) in the construction of its solar photovoltaic power plant. The Turkish company Desiba Energy has received the green light from the Gabonese government and now it has the necessary permits for the installation of its solar power plant in Mouila, in the province of Ngounié…

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Female-led startup BznsBuilder expands to Asia with a launch in Indonesia

EGYPT – BznsBuilder, the leading Egyptian 360 Business Relation Management platform (BRM) extends its footprint into the Asian market by launching the platform in Indonesia in partnership with Indonesia Prima. BznsBuilder is a flagship platform that prides itself on being the startups’ virtual co-founder providing businesses with step-by-step guides on building impeccable business plans. The platform automates the financial reports and charts without the need for a solid financial background. Founders can also develop their pitch decks and one-page plans, export and share them with investors. Indonesia Prima is an…

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Rental scheme company Rent4Less by Alpha Mead raises US$1 million private placement bond

NIGERIA – Rent4Less by Alpha Mead, a rental scheme designed to provide a flexible and convenient option for middle income Nigerians to rent homes, has raised a fixed-rate series one US$1 million private placement bond. The Senior Secured Private bond, issued by Alpha Mead is another milestone in the series of the company’s expansion strategies to increase access to shelter and perpetuate the culture of monthly rent payment across the continent’s housing and office markets. Rent4Less by Alpha Mead is a rental scheme designed to support individuals and small businesses…

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Nigerian startup ComiBlock launches Crypto-Asset Robo Advisor

NIGERIA – ComiBlock, a Nigerian startup launched in February that helps users become great investors through technology, has launched a goal-based investing crypto robo-advisor. The digital asset investment adviser and active manager give users the advice, strategies and inspiration they need to be better at crypto investment, helps them achieve their financial objectives and averts time and capital wastage caused by market volatility. ComiBlock relies on data and research to create investment products that facilitate access to digital assets thereby providing users topical and carefully selected crypto portfolios, advice and…

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TotalEnergies LNG Mozambique project could resume within 18 months – AfDB

MOZAMBIQUE – TotalEnergies’ liquefied natural gas (LNG) project in Mozambique could be back on track within the next 18 months after African armies were deployed to help quell an insurgency, the president of the African Development Bank (AfDB) has said. The French energy giant declared force majeure on the US$20 billion project in April 2021 after Islamic State-linked fighters overran the town of Palma, on the doorstep of its facilities in the northern Cabo Delgado province. It estimated at the time the disruption would delay development by at least a…

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Massmart to sell 14 Game stores in East and West Africa

SOUTH AFRICA – Consumer goods distributor Massmart says it has put up 14 Game stores in East and West African stores for sale to focus on its core strengths as the group losses narrowed during the half-year ended June 2021, reports IOL. Massmart has begun a formal sales process to divest in five Game stores in Nigeria, four in Ghana, three in Kenya, one in Uganda and one in Tanzania. Speaking during the group’s virtual financial results presentation, Chief Executive Mitchell Slape said the company was currently in discussion with…

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Fintech Ukheshe and dzcard join hands to expand digital payment solutions in Asia Pacific

SOUTH AFRICA – Leading fintech enablement partner, Ukheshe Technologies which has been on a rapid expansion to different markets, has announced a new partnership with global next-generation card solutions and digital security company, dzcard.   The partnership will enhance dzcard’s customizable solutions for various digital ecosystems and locations.   The partnership will leverage Ukheshe’s Eclipse API platform and its market-leading digital payments solutions, allowing both companies to deliver digital strategies within their respective markets.   Donovan Drew, President of Asia-Pacific of Ukheshe says: “the company’s digital payments enablement platform has expanded…

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