Nigeria joins the World Logistics Passport as coordinating partner

NIGERIA – Nigeria has joined the World Logistics Passport (WLP) as a Hub, with the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) as the coordinating partner. Nigeria is the largest economy in Africa, with a vibrant and diverse industrial base and rapidly expanding regional and global trade interests. In 2019, product exports totalled US$63.8 billion with trade accounting for 25% of GDP2. With access to the WLP network, Nigerian traders will have the opportunity to enhance the connectivity and efficiency of their cargo operations. This in turn…

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YouTube appoints Addy Awofisayo as Head of Music, Sub-Saharan Africa

SUB-SAHARAN AFRICA –  YouTube has announced the appointment of Addy Awofisayo as Head of Music, Sub-Saharan Africa for YouTube and YouTube Music. Addy will be in charge of YouTube Music’s business and partnership teams in Sub-Saharan Africa, and she will report to the Head of Music, YouTube EMEA. Addy Awofisayo, incoming Head of Music, Sub-Saharan Africa said: “Music is a powerful medium of expression and a tool that exports African cultures to the world’s stages. I am excited about my new role and the opportunities that are available to creators and…

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AfDB grants US$29m to facilitate access to energy in Burundi

BURUNDI – The Board of Directors of the African Development Fund approved, on September 17, a donation of US$ 28.9 million to Burundi to carry out the first phase of its Energy Access Project. The African Development Fund, the Bank Group’s concessional window, will provide funding of US$12.01 million and the Transition Support Facility, a Bank fund intended for countries in transition, US$16.55 million. “The Bank’s support for the Burundi Energy Access Project is in line with the priorities defined in the Country Strategy Paper and in the Burundi National…

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DSV inaugurates the largest integrated logistics center in Africa

SOUTH AFRICA – DSV, a Danish transport and logistics company, has inaugurated the new Gauteng headquarters in South Africa, DSV Park Gauteng, which is Africa’s largest integrated logistics centre. With this centralised facility, DSV will be able to provide more seamless service to customers who are an integral part of creating a strengthened and more efficient logistics network in South Africa. DSV has consolidated its Gauteng operations in South Africa into a new, centralised facility which is the largest of its kind in Africa, situated near O.R. Tambo International Airport…

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German solar company Ecoligo acquires Namene Solar West Africa

GHANA – Ecoligo, a German solar utility that provides low-cost solar energy to local businesses in emerging markets, has announced the acquisition of the solar power projects for commercial and industrial customers (C&I) of Namene Solar West Africa. The company remains a wholly owned subsidiary of the Namene Group. There is movement around the commercial and industrial (C&I) solar power providers in West Africa. German company Ecoligo is acquiring the C&I division of Namene Solar West Africa, the subsidiary of the Namene Group. The Accra (Ghana) based company is selling…

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Chipper Cash launches with free P2P money transfers in South Africa

SOUTH AFRICA – Chipper, a fintech start-up that facilitates free peer-to-peer (P2P) money transfers and instant cross-border payments in Africa, officially launched Chipper Cash to offer domestic P2P money transfers in South Africa. Chipper Cash will enable South Africans to enjoy free unlimited instant domestic money transfers, invest in cryptocurrencies, and buy and send airtime and data to loved ones. Chipper was founded in 2018 by Ham Serunjogi (CEO) and Maijid Moujaled (President) and it is headquartered in San Francisco, USA. As Chipper Cash is experiencing rapid user adoption, Chipper has…

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Burkina Faso secures US$69m from AfDB to finance access to electricity in peri-urban areas

BURKINA FASO – The African Development Bank (AfDB) has approved a new €59.43 million (US$69.63m) loan to Burkina Faso to finance access to electricity for 218,400 households in peri-urban and rural areas. The financing granted by the African Development Bank (AfDB) is intended to accelerate access to electricity in Burkina Faso through two government-led projects. These are the Electrification and Development of Electricity Connections Project (Pedecel) which will be implemented between October 2021 and December 2025. The Yeleen project benefits from this new financing from the pan-African bank. The project…

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Delivery platform Glovo to debut in Ghana and Tunisia following its expansion plan

WEST AFRICA – Glovo, a leading multi-category delivery platform, has recently announced the expansion of its operations in Africa, to include Ghana and Tunisia, bringing its current operations to a total of seven countries on the continent. Glovo app is already available in Morocco, Uganda, Kenya, Ghana, Côte d’Ivoire and Nigeria, bringing its services to more than 40 cities, more than 300,000 users, 8,000 restaurants and 12,000 couriers. Glovo launched operations in Accra in Ghana earlier this year, with the city of Tema following last month and it expects to…

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Condiment maker GBfoods attains full ownership of Africa’s operations

AFRICA – Global culinary products manufacturer GBfoods has undertaken a share buy-back at its African unit GBfoods, from private equity investment firm Helios Investment Partners. Established in 2017, GBfoods Africa was a joint venture created by Helios and GBfoods through the combination of GBfoods’ existing bouillon cubes business in Africa and the acquisition of brands Gino, Pomo, Jago, and Bama. Under the new deal, Helios has sold its 49% stake in the company to its partner and co-shareholder, after successful execution of its value creation strategy which has resulted in…

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Co-operative Bank and AGF ink US$6.8m deal to boost green energy financing in Kenya

KENYA – The Co-operative Bank of Kenya has signed a loan portfolio guarantee agreement with the African Guarantee Fund (AGF) for small and medium-sized enterprises amounting to Ksh750 million (US$6.8 million) to boost financing of green transactions in Kenya. The guarantee facility will enable the bank, on the one hand, to strengthen its commitment to financing Micro, Small and Medium-Sized Enterprises (MSMEs), and promote emerging corporates in Kenya that are involved in green energy and solar installation projects. According to data from the International Renewable Energy Agency (IRENA), increased demand and…

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