AfDB appoints Solomon Mugera as Director, Communication and External Relations

AFRICA – The African Development Bank Group has announced the appointment of Mr. Solomon Mugera as Director, Communication and External Relations, effective 1 October 2021. Mugera, a Kenyan national, brings extensive experience to this role. He is a seasoned journalist and media manager with over 20 years of expertise working internationally. As Head of Journalism for the British Broadcasting Corporation (BBC) Africa, Mr. Mugera presided over the largest expansion of the BBC on the African continent since the 1940s, supporting the corporation in reaching a weekly audience of more than…

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GE commissions Africa’s first ever fully digital high voltage substation

SENEGAL – GE Renewable Energy’s Grid Solutions business recently commissioned the first ever fully digital high voltage substation on the African continent in Thiès, 70 km from Dakar in Senegal. This key 225 kV substation project is part of Senegal’s national electricity company Senelec’s transmission and distribution grid expansion, reinforcement and reliability enhancement program to be completed by VINCI Energies West Africa. “This flagship project was made possible due to the robust synergy among VINCI Energies West Africa teams, the technical support of our team Omexom and the digital expertise…

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Liquid Intelligent Technologies and Unitas Global partner to create a network of interconnected data centers in Africa

AFRICA – Pan-African technology group, Liquid Intelligent Technologies has announced a strategic partnership with a global managed network provider, Unitas Global in a bid to meet the demands of rapid digital transformation across the continent. Through strategic interconnections, Liquid and Unitas are now better positioned to serve their customers in Africa and beyond, with this rapid response to the growing demand for secure, cost-effective, Cloud services. The partnership provides enormous expansion opportunities for both companies – Unitas Global further expands Unitas Reach™ with  Liquid’s extensive pan-African network (100,000km fibre backbone)…

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Electrochem Ghana support women entrepreneurs with US$0.5m interest-free loan

GHANA – Electrochem Ghana Limited, the largest salt and chlorine-akali manufacturing company in West Africa and a subsidiary of the McDan Group has provided an interest-free loan of GH¢3 million (US$0.5m) to support women entrepreneurs in Ada and its environs. In all, over 1000 women would immediately receive the funds which formed part of the company’s Community Support Scheme established to empower entrepreneurs in the various communities in Ada where the company operates. It was also to ensure that women were gainfully employed to foster socio-economic development in the country.…

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Fintech Wave raises US$200m Series A funding, the largest in Africa

SENEGAL – Wave, the U.S. and Senegal-based mobile money provider, has announced the raise of a US$200 million Series A financing. This landmark investment shot the valuation of the independent mobile money provider to US$1.7 billion. The round which is the largest ever Series A round in Africa was led by Sequoia Heritage, a subsidiary of Sequoia; Founders Fund; US payment giant, Stripe; and Ribbit Capital. Other investors include existing investors Partech Africa and Sam Altman, the former CEO of Y Combinator and current CEO of OpenAI. The Wave app…

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IT firm Accenture acquires creative agency King James Group

SOUTH AFRICA –  IT services and consulting firm Accenture has entered into an agreement to acquire King James Group, a highly awarded creative agency with deep expertise in brand strategy, creativity and digital marketing services.  The move will strengthen Accenture Interactive’s focus on putting creativity at the center of experience-led transformation to drive relevance and growth for its clients. “To succeed today, our clients must create unified brand experiences that make their customers’ lives easier and more meaningful. King James Group’s creativity and strength in driving marketing and communications that…

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Scatec & ENGIE to produce hydrogen for Anglo’s Limpopo mine

SOUTH AFRICA – Norwegian renewable energy company, Scatec, and French energy giant, Engie, have entered into a two-year lease agreement where the former will supply its portable solar systems to help power ENGIE’s hydrogen plant stationed at Anglo American Platinum’s Mokalakwena mine in the Limpopo province of South Africa.  Scatec will supply a 616 kWp containerized mobile solar energy system to ENGIE under its “Release by Scatec” brand. Working through their scalable power solution, Release, the power producer’s mobile unit will provide solar energy for ENGIE’s hydrogen production plant which…

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MTN Ghana appoints Mr. Shaibu Haruna as Chief Sales and Distribution Officer

GHANA – MTN Ghana, a telecommunication company, has appointed Mr. Shaibu Haruna as Chief Sales and Distribution Officer with the responsibility of providing strategic direction for MTN’s Sales Strategy, Operating Model, Channels distribution as well as digital sales infrastructure. He will also support MTN accelerate growth and digitalization in accordance with the company’s Ambition 2025. Shaibu is a visionary and results oriented executive with proven commercial experience in a career spanning over two decades in multinational businesses across Africa and the Middle East. He successfully executed channel/business turnaround strategies in…

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Afreximbank’s FEDA makes inaugural investment into Liquid Intelligent Technologies

AFRICA – African Export-Import Bank (Afreximbank) has announced that its subsidiary, Fund for Export Development in Africa (FEDA), has taken a minority investment in Liquid Intelligent Technologies (Liquid), a pan-African telecommunications technology group. This is the first investment made by FEDA, a development impact-oriented subsidiary of Afreximbank, which provides equity and quasi-equity funding to companies developing trade and value-added export of goods and services in Africa. This investment enables FEDA to become a stakeholder in Africa’s fast-growing technology infrastructure landscape, in which Liquid is a leading player. With fibre optic…

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Fintech MNT-Halan secures US$120m circa investment from three private equity funds

EGYPT – MNT-Halan, a microfinance lending and payments company, has announced a circa US$120 million investment from three private equity funds and a group of venture capitalists. The investment was from Apis Growth Fund II, Development Partners International (DPI), and Lorax Capital Partners. In addition, the company has also attracted venture capital backing from Middle East Venture Partners, Endeavor Catalyst, and DisruptTech. This round of investment demonstrates confidence in the fintech opportunity in Egypt and further institutionalizes the capitalization table of MNT-Halan. Previous investors of MNT-Halan have included GB Capital,…

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