BUSINESS

SAP Young Professionals Program extends digital skills build to Lusophone Africa

LUANDA, Angola, 17 June 2021 -/African Media Agency(AMA)/- SAP’s flagship digital skills build initiative the Young Professionals Program is celebrating its first-ever graduates from Lusophone Africa. At a virtual graduation ceremony attended by Constantin Zelenty, Deputy Head of Mission, German Embassy Angola; Cathy Smith, Managing Director, SAP Africa; Pedro Guerreiro, Managing Director, SAP Central Africa; as well as SAP customer …

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SA, Nigeria and Kenya driving e-commerce in Sub-Saharan Africa

The top market contributors to e-commerce in Sub-Saharan Africa (SSA) over the last three years were South Africa, Nigeria and Kenya. This is according to a recent white paper released by Visa titled ‘eCommerce developments across Sub Saharan Africa (SSA)‘. According to Visa, SSA may be one of the smallest regions of e-commerce globally, but it shows steady growth potential. …

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Ethiopia signs pact with Internet Society to advance digital economy

The global non-profit organization Internet Society is committed to supporting Ethiopia in its vision to create an inclusive digital economy through the Digital Ethiopia 2025 Strategy ADDIS ABABA, Ethiopia, June 10, 2021/ — The Ministry of Innovation and Technology (MINT) of Ethiopia and the Internet Society (www.InternetSociety.org) announced a new collaboration agreement today that will help advance the digital economy …

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Google launches programmes to support small businesses in Africa

Google has kicked off a series of programmes that will support the growth and recovery of small and medium-sized enterprises (SMEs) in Africa’s post-Covid economy. The programmes will be rolled out throughout the month of June. On the continent, SMEs account for around 90% of all businesses forming the backbone of the economy. While these businesses account for 80% of …

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African start-ups chosen for €100,000 German investment prize

Ten start-ups from across Africa have been chosen for the Afro German Pitch Night at which the winner will walk away with €100,000 equity investment. The nominees were selected from the Deutsch Connect and Idea Seed Africa networks of start-ups.The final list of start-ups include five from Nigeria – namely, Agriple, Asusu, Chekkit, M.E Solutions and Rural Farmers Hub, and …

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Zimbabwean named UK’s first Black billionaire

THE London-based Zimbabwe-born businessman Strive Masiyiwa has been named the United Kingdom’s first Black billionaire. He has been reported to be worth £1.087 billion. Masiyiwa is the first billionaire of African origin to be included on the Sunday Times Rich List – a ranking of the wealthiest people or families resident in the United Kingdom. The list is updated annuallyand …

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World’s Top Remittance Recipients in 2020

According to new World Bank data, remittance flows in 2020 to low- and middle-income countries (LMICs) were projected to fall by 7.2 per cent to USD 508 billion because of the economic crisis caused by the COVID-19 pandemic which negatively affected wages and employment for migrant workers. Instead, remittance flows fell by only 1.6 per cent to USD 540 billion, defying …

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Deutsch Connect and Idea Seed Africa secure 100k euro investment fund

German-based Afrocentric startup Deutsch Connect has secured a €100,000 investment fund in partnership with Idea Seed Africa. The “Deutsch – Africa Pitch” challenge is exclusively for Startups within the Deutsch Connect – Idea Seed Africa network in Agritech, Healthtech, Fintech, Digitalisation and Logistics offering up to €100,000 in equity investment to build and scale successful businesses that add value to …

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New incentives for ICT start-ups in Cameroon

Achare Takor*, a lawyer, takes a look at Section 124b of the General Tax Code of the Republic of Cameroon and how it sets to promote innovative ICT start-ups in the country by offering them incentives ————- DOUALA, Cameroon, May 13, 2021/ — By Achare Takor Over the last decade, information technologies (IT) have revolutionized the way people and businesses …

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Nigerians defy Central Bank, flock to cryptocurrencies

As the robust bitcoin trading activity in Nigeria has earned the country the title of Africa’s Bitcoin Nation, Gerelyn Terzo of Sharemoney, an online money remittance service, discusses the role of the cryptocurrency market amidst Nigeria’s uncertain financial situation and efforts to shut down crypto trading by the country’s Central Bank. —— Bitcoin, the leading cryptocurrency, has seen its value …

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Nigeria’s diaspora remittances to hit $22bn – Report

Nigeria’s diaspora remittances have been projected to rise by five per cent to $22bn by the end of 2021. Agusto Consulting Limited, a wholly owned subsidiary of a rating agency, Agusto & Co. Limited, disclosed this in its report titled ‘2021 Nigeria diaspora remittance report & survey’ for May 2021. The report was presented by the Managing Director, Yinka Adelekan, …

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Bank offers loans to Nigerians living abroad to build homes in Nigeria

Nigerians in the diaspora have an opportunity to own houses in the country and also participate actively in money and capital markets, thanks to several investment packages rolled out by Ecobank. Mrs. Olukorede Demola-Adeniyi, Head of Ecobank’s Consumer Banking, has said that the bank is offering mortgage loans to Nigerians living abroad to finance property ownership in the country. She …

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Nairobi ranked top city in Africa for innovation – report

The recently released Knight Frank Africa Horizons Report 2021/22, ranked Nairobi as the top city in Africa for innovation, followed by Cape Town in second, Kampala third, with Cairo and Johannesburg at fourth and fifth place respectively. The report notes that the ability of African cities to emerge resilient from the pandemic will depend on their ability to innovate, providing long-term social …

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Airtel Africa appoints Nigerian as its new Chief Executive

Airtel Africa has appointed Segun Ogunsanya as its Managing Director/Chief Executive Officer (CEO). The development follows the retirement of Raghunath Mandava as the company’s MD and CEO. “Segun has more than 25 years business management experience in banking, consumer goods, and telecoms,” the telecom firm noted in a statement on Thursday. An electronics engineer, and a chartered account, Ogunsanya will …

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Mobile phone users in Kenya and Nigeria increasingly targeted by malware apps – Report

NAIROBI, Kenya, April 29, 2021/ — With Kaspersky (africa.Kaspersky.com) research showing that stalkerware affected one out of every 100 mobile users in Kenya and Nigeria in 2020 and malware every four out of 100 in South Africa, consumers must remain vigilant when it comes to their online activities if they are to keep themselves safe from the growing threat of …

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Kenyan eco-friendly footwear brand wins sustainable design contest

Pine Kazi, a women-led shoe design house based in Kenya, is the winner of Fashionomics Africa’s sustainable fashion competition. The fashion company, which converts pineapple leaf and recycled rubber into fashionable footwear, wins a $2,000 cash prize, access to media exposure opportunities, and mentorship and networking opportunities from competition collaborators. Fashionomics Africa is an initiative of the African Development Bank, …

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Spain unveils plan for increased engagement with Africa

Spain’s Prime Minister Pedro Sanchez has unveiled a new policy “Africa Focus 2023”. He wants to build closer economic and institutional ties with various African countries. Emma Wallis reports Spain is looking to strengthen its political, economic and institutional ties with various African countries. On Monday, March 29, the prime minister, Pedro Sanchez, unveiled his new plan at an event: …

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African Continental Free Trade Area and UNDP announce new partnership

The AfCFTA Secretariat and the UN Development Programme (UNDP) have signed a strategic partnership to promote trade as a stimulus for Africa’s socioeconomic recovery from the COVID-19 crisis, and as a driver of sustainable development particularly for women and youth in Africa, in line with the SDGs and Agenda 2063 common vison for the continent. The agreement was sealed yesterday by …

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