Malawi to construct its first solar-plus storage project

MALAWI – The government of Malawi, in collaboration with Sungrow, JCM Power, InfraCo Africa, RINA and Innovate UK, will construct its first solar-plus storage project, a first in Sub-Saharan Africa. Located in the Dedza district of Malawi near the town of Golomoti, the 20MWac solar PV and 5MW/10MWh energy storage project is set to become a leading project in sub-Saharan Africa in demonstrating the value of solar PV coupled with energy storage. The project will fully adopt Sungrow’s one-stop solar-plus-storage MV solution comprised of PV inverter, MV station, all-in-one Power Conversion System,…

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Sasol agrees to sell 30% interest in ROMPCO to an acquisition vehicle

MOZAMBIQUE- Energy and chemical company Sasol South Africa (SSA), a subsidiary of Sasol, has concluded a sale and purchase agreement (SPA), to sell a 30% equity interest in the Republic of Mozambique Pipeline Company (ROMPCO), subject to pre-emptive rights by other shareholders. In a statement, Sasol said ROMPCO is a joint venture between SSA (50%), Companhia Mocambiçana de Gasoduto S.A. S.A.R.L (CMG) (25%) and South African Gas Development Company (SOC) Limited (iGas) (25%). The joint venture owns the 865km gas transmission pipeline from Mozambique to South Africa. The company said…

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World Bank approves US$100m grant to support MSMEs, foster inclusive growth in Mozambique

MOZAMBIQUE – The World Bank has approved a US$100 million grant from the International Development Association (IDA), in support of the Government of Mozambique’s Economic Linkages for Diversification Project, which supports Micro, Small, and Medium Enterprises (MSMEs), develop their capacities to provide goods and services to larger businesses, as well as serve the growing cities in the centre and north of Mozambique, thus fostering linkages and economic diversification. “Mozambique’s growth has been driven by Foreign Direct Investments (FDI) into capital-intensive industries, which has not translated into adequate levels of job…

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Access Bank Rwanda appoints Faustin Rukundo as new Managing Director

RWANDA – Access Bank Rwanda Plc. Has announced the appointment of Mr. Faustin Rukundo Byishimo as Managing Director, effective May 1, 2021. He succeeds Mr. Jean-Claude Karayenzi who has been deployed to the Access Bank Group. Mr. Faustin Rukundo Byishimo has a wealth of experience of over 20 years of which 18 in the Banking industry and joins Access Bank from another financial institution where he was, in his last assignment and for the past 5 years, the Executive Director for Business Development. In this role, he led and oversaw…

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World Bank plans to invest US$200m to improve Ethiopia’s telecommunications, calls for fair competition

ETHIOPIA – The World Bank has announced plans to invest US$200 million in Ethiopia’s telecommunications industry but wants the country’s government to open this market up to competition. Ousmane Dione, World Bank country director for Ethiopia, Sudan, South Sudan and Eritrea said the organisation will invest in Ethiopia’s digital economy and drive a new Digital Ethiopia Foundations project. He said the project will provide funds to strengthen the regulator, Ethiopia Communications Authority, and to prepare the legal and regulatory building blocks for the digital ecosystem. Part of the plan is…

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Investment firm Convergence Partners gets green light to acquire Ctrack

SOUTH AFRICA – The Competition Commission of South Africa has granted investment firm Convergence Partners regulatory approval to acquire Ctrack, vehicle tracking, fleet management, and insurance telematics solutions company. Convergence Partners, a tech investor in Africa, initially announced in February 2021 that it had entered into an agreement with Inseego to acquire 100% of Ctrack’s operations in Africa and the Middle East. The Ctrack investment was conducted though the Convergence Partners Digital Infrastructure Fund (CPDIF) and required customary conditions, including approval by the Competition Commission (CompCom), which has now been granted. Announcing…

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Ghanian Thomas Kyei-Boateng appointed as CFO of ISACA

GHANA – Ghanian Thomas Kyei-Boateng has been appointed as chief financial officer (CFO) of ISACA, an international professional association focused on IT governance. Kyei-Boateng is a seasoned strategic finance professional with a strong background across the finance spectrum in strategic planning, mergers and acquisitions, and investments. In his role as CFO, Kyei-Boateng will lead the finance team at the global technology association, which serves more than 150,000 members who work in information security, governance, assurance, risk and privacy worldwide. His work will include advancing the alignment of ISACA’s finances with…

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GoldStone Resources commences mining and ore stacking at the Homase mine

GHANA – GoldStone Resources has commenced mining and ore stacking at the Homase mine within its Akrokeri-Homase gold project (AKHM) in Ghana, with the first mined ore having been successfully stacked onto the heap leach pad. This follows the pre-stripping and clearing of the Homase mine site, which the company says is continuing to perform well. The daily mining rate and the growth in the primary and secondary run-of-mine stockpiles are performing at or above the targeted levels. CEO Emma Priestley says the stacking of ore onto the heap leach…

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Paxful expresses full commitment to boosting Nigeria’s crypto market

Paxful partners OKEx

NIGERIA – Paxful, a leading global peer-to-peer fintech, has restated its commitment to advancing Nigeria’s crypto market by constant engagement and enlightenment efforts that foster a clear market understanding while also driving increased adoption among Nigerians, particularly the youths. During the visit of Ray Youssef, the Paxful CEO and Co-founder highlighted the company’s dedication at a stakeholders’ forum organized recently in Lagos, to chart a course for the industry. According to Youssef, while Nigeria has become Paxful’s biggest market, there are still huge untapped potentials for the youth. “The adoption…

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Econet’s Cassava Fintech partners Mastercard to advance digital inclusion across Africa

AFRICA – The Econet Group, through its subsidiary, Cassava Fintech International has entered into a strategic partnership with Mastercard to advance digital inclusion across Africa and collaborate on a range of initiatives including expansion of the Africa Centres for Disease Control (CDC) TravelPass. TravelPass is a digital health pass developed by Cassava Fintech and offered in conjunction with the Africa Centres for Disease Control and Prevention (Africa CDC). It is accessible to users of Cassava Fintech’s Sasai SuperApp, and is recognised as one of the leading initiatives in the fight…

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