Auto financing firm Autochek acquires online marketplace Cheki

EAST AFRICA – Autochek, a Nigerian automotive tech company, has announced that it has reached an agreement to acquire ROAM Africa’s automotive marketplaces Cheki Kenya and Uganda.  Autochek is an automotive technology company facilitating auto financing across Africa with operations in Nigeria and Ghana. The move to acquire Cheki Kenya and Uganda comes just one year after the company successfully acquired Cheki Nigeria and Ghana as part of its launch in West Africa. The deal will be finalized within the following weeks and will see Cheki Kenya and Uganda’s operations…

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Trina Solar expands its presence in East and Central Africa

EAST AFRICA – Trina Solar Co., Ltd., a global PV and smart energy total solution provider, is announcing the appointment of Solinc East Africa Ltd in Kenya as an official distributor to supply Trina Solar’s products and solutions in East Africa. The new appointment comes as part of Trina Solar’s commitment to further increase its footprint and presence in the African continent to cater to the rapidly growing demand for solar energy.  Established in 2009, Solinc E. A developed the first and only solar panels manufacturing plant in the region.…

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Regional institution to enhance capacity in energy sector in East Africa mooted

EAST AFRICA – The Energy Regulators Association of East Africa (EREA) has announced plans to establish a US$15 million regional centre in Arusha Tanzania that will help enhance sustainable capacity and energy trade in the East African region. The Executive Secretary of EREA, Geoffrey Mabea said plans are at an advanced stage to commence the implementation of the project and the project has the backing of member states of the East Africa Community (EAC) bloc and is expected to boost intra-regional electricity trade. EREA is hoping the centre will also facilitate the…

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EAVCA Executive Director Esther Ndeti steps down

EAST AFRICA – East Africa Private Equity & Venture Capital Association (EAVCA) has announced that its Executive Director, Esther Ndeti will be stepping down from her role at the end of August 2021. Ndeti’s departure is after four years in the role, in which she served alongside Eva Warigia, who will now serve as its Chief Executive Officer. This ensures business continuity in member relations and minimum disruption across our operational functions of advocacy, research, events, and trainings. As Executive Director, Ndeti led the Association’s member networking and training pillars. She…

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4G Capital makes fresh leadership appointments

EAST AFRICA – Fintech 4G Capital Group has announced the appointments of Alex Siboe and Ross Breadmore as Chief Operations Officer and Chief Product Officer respectively with both officers joining the market leader in technology-driven financial inclusion for micro and SME businesses across Kenya and Uganda at the end of August 2021. As a senior executive, Alex Siboe’s responsibilities as Chief Operations Officer will include the business’s day-to-day administrative and operational functions, reporting directly to the Chief Executive Officer.  Alex joins 4G Capital from KCB Bank, where he served as Head of Digital Financial…

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HEVA Fund, British Council launch US$5.3m grant facility to support creative and cultural industries in 14 East African nations

EAST AFRICA – HEVA Fund LLP and the British Council, as part of the ACP-EU Culture Programme, have established a grant facility, Ignite Culture, for the support of creative and cultural industries (CCIs) in 14 countries in Eastern Africa.  This initiative is a result of a historic partnership between the Organization of African, Caribbean and Pacific States (OACPS) and the European Union (EU), which in turn will offer great opportunities for creative talents from various African, Caribbean and Pacific (ACP) countries. ACP EU Culture Programme (Eastern Africa) – Ignite Culture…

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Bolloré Transport & Logistics appoints Ahmat Abdelkerim as managing director for Horn of Africa cluster

EAST AFRICA – Ahmat Abdelkerim has been appointed as the Managing Director of the Bolloré Transport & Logistics Horn of Africa cluster and will be responsible for managing the business activities in three countries: Djibouti, Ethiopia and Eritrea. His appointment took effect from July 1, 2021. Ahmat has taken over from Patrick Gerenthon, who has moved on to perform other duties within Bolloré Transport & Logistics. Ahmat Abdelkerim, originally from Chad, graduated from Sup’Management Graduate School in Morocco and has a Master’s degree in Development Management and Politics from Sciences…

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LG Electronics to open 20 new stores in East Africa expansion drive

EAST AFRICA – South Korean multinational conglomerate corporation LG Electronics is expanding its market footprint in East Africa by opening new shops in four countries in response to the growing demand for home appliances, entertainment and air conditioning solutions.   LG Electronics East Africa now says it will refurbish 20 shops and launch additional ones, in Tanzania, Ethiopia, Sudan and Kenya, targeting an increasingly tech-savvy, environmentally conscious consumer seeking premium products to match their lifestyle.  The company is also keen on the growing market for wearables, driven by lifestyle changes due…

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TradeMark East Africa and TDB ink deal to support trade in Eastern and Southern Africa

EAST AFRICA – TradeMark East Africa (TMEA) and the Eastern and Southern African Trade & Development Bank (TDB) have signed a Memorandum of Understanding (MoU) that establishes a framework for collaboration ultimately seeking to boost trade in the region served by both institutions. By leveraging the two institutions’ expertise in project development and finance, TMEA and TDB will endeavor to jointly pursue targeted investments in trade logistics and production systems, including roads, ports and industrial parks projects, and to facilitate structured trade finance transactions of commodities. Moreover, institutions will work…

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EIB approves US$95m financing for geothermal power generation in East Africa

EAST AFRICA – The European Investment Bank (EIB) has approved US$4.9 billion financing for renewable energy, clean transport, COVID-19 recovery, social housing and education. Of this amount, US$95 million will be allocated to the East Africa Rift Geothermal Project. The operation is an envelope for financing individual private sector investments into geothermal power generation projects in different countries in the East African Rift region and the sub-operations under the envelope will undergo individual project appraisals and be separately approved for bank financing. Funding will be available for the countries of:…

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