BUSINESS

Standard Chartered and Airtel form partnership to drive financial inclusion across Africa

Standard Chartered and Airtel Africa will work together to co-create new, innovative products aimed at enhancing the accessibility of financial services DUBAI, United Arab Emirates, August 13, 2020/ — Standard Chartered Bank and Airtel Africa have today announced a strategic collaboration to drive financial inclusion across key markets in Africa by providing customers with increased access to mobile financial services. …

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Ecobank unveils card-less ATMs in Nigeria

In a move that promises to make sending and receiving cash easier, Ecobank has introduced cardless Automated Teller Machines (ATMs). The bank’s Xpress Cash enables users to withdraw cash from ATMs using only a mobile phone. “The solution is seamless, secure and is driven by the use of a code (e-token) by an account holder via the bank’s USSD code …

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“Good day for Mother Ghana” as president opens Volkswagen assembly plant in Accra

Ghana’s President Nana Akufo-Addo on Monday unveiled the first vehicles assembled in Volkswagen’s new plant in Accra. “It is a good day for Mother Ghana. The Volkswagen assembly plant will create a lot of highly skilled jobs, reduce the high amounts of foreign exchange used in the importation of second-hand vehicles, and, thereby, help strengthen the Ghanaian currency, whilst, at …

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Shoprite announces plan to leave Nigeria

The South African-based supermarket chain Shoprite has announced its plan to exit Nigeria while reporting its business report on Monday (3 August) in Johannesburg.  Shoprite said the decision was made after “approaches from various potential investors, and in line with our re-evaluation of the Group’s operating model in Nigeria.” The company, Africa’s largest supermarket chain, said its business in Nigeria …

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AfDB: Adesina cleared by investigative panel, sets for reelection as President

A much awaited report by an Independent Review Panel has completely exonerated the President of the African Development Bank (AfDB), Akinwumi Adesina of any ethical wrongdoings. The Independent Review Panel was set up by the Bureau of Governors of the Bank, following a complaint by the United States to review the process by which its two organs – the Ethics …

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After COVID-19, will Africa Catch Up, Stand Still or Fall Further Behind?

With this global health crisis comes an economic disruption of unprecedented proportion, Professor Banji Oyelaran-Oyeyinka* looks at the possible long-term impact of the pandemic on African countries and suggests what they must do to turn the crisis to opportunity ABIDJAN, Ivory Coast, July 27, 2020/ — At one time or another, nations and individuals confront crisis points – moments of …

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Top 50 Finalists of 2020 ‘Africa’s Business Heroes’ Competition selected

Jack Ma Foundation’s Africa Netpreneur Prize Initiative (ANPI) selects Top 50 Finalists of 2020 “Africa’s Business Heroes” Competition.  LONDON, United Kingdom, July 27, 2020/ — Top 50 finalists were selected from over 22,000 applications across all 54 African nations; The finalists represent 21 African countries, half are female, and work in 18 sectors like agriculture, AI, e-commerce, fashion, healthcare, renewable …

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New Online Course: Harvard Teaches Africans How to Build Scalable Businesses

Africa has complex and unique business opportunities. Harvard Business School professors are launching a new online course to teach entrepreneurs how to build scalable businesses designed to solve core problems in Africa. Unlike other business courses, this one focuses on identifying points of opportunity for smart entrepreneurial efforts through live online lectures, peer-to-peer learning, and real-life lessons incorporated into participants’ …

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Mastercard Foundation launches scheme to provide 3 million young Ugandans with jobs

The Mastercard Foundation on Thursday (23 July) announced its Young Africa Works strategy in Uganda, which has set a goal to enable more than 3 million young people in the country to access dignified and fulfilling work opportunities by 2030. Under Young Africa Works, the Foundation has committed $200 million to ensure young women, men and refugees in Uganda have …

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Skills training scheme improves quality of life in Ghana – AfDB report

A six-year project to develop industrial skills among Ghana’s workforce has improved the engineering and manufacturing skills of young people, promoted economic competitiveness and contributed to an improvement in the quality of life of beneficiaries and a reduction in poverty, according to an African Development Bank (AfDB) report issued on 15 July 2020. The Development of Skills for Industry Project …

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Syinix launches the first android TV in Kenya

Syinix launched its first Android TV in Kenya at 10.30 pm, 15th July 2020. The Launch which took place on NTV and Startimes Kenya and hosted by Size 8 Reborn. With the launch, Syinix explained to customers in detail what the Syinix A20 series has to offer. The Syinix A20 series has 32”, 43”, 50” and 55” screen. Here is …

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Electronic banking fraud in Nigeria: What you should know — Special Report

Nigeria’s cashless policy, initiated six years ago, was designed to encourage electronic transactions with a view to reducing the amount of physical cash in the economy to foster transparency, curb corruption and drive financial inclusion. It’s however now threatened by the growing perpetration of fraud.  Oludayo Tade, researcher in criminology, victimology, electronic frauds and cybercrime, University of Ibadan, presents his …

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MainOne celebrates 10 years of driving West Africa’s digital revolution

Since inception, MainOne has invested in over $400m in infrastructure in West Africa as part of its efforts to bridge the digital divide and enable the digital economy LAGOS, Nigeria, June 29, 2020/ — MainOne (www.MainOne.net), West Africa’s leading provider of Wholesale and Enterprise connectivity and data centre services celebrates 10 years of delivering innovative, world-class service in West Africa. …

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Opinion: Why Black Lives Matter is relevant to Africa’s economic development

NJ Ayuk, founder of one of Africa’s most successful law chambers, explains that “climate change — and the call to leave fossil fuels in the ground— is largely a western narrative”, which does not consider the situation of African countries whose oil and gas production earns export revenues, reduce energy poverty, create jobs etc. He explains how Western climate policy …

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Investment program supports digital start-ups in Francophone Africa

Suguba announces Afrikhaliss in partnership with the French Development Agency (AFD) and Mercy Corps BAMAKO, Mali, June 16, 2020/ — Suguba (www.Suguba.org) – in partnership with Mercy Corps and the French Development Agency (AFD) – is organising their second 6-month investment readiness program in West Africa to support the 8 most promising startups in the digital sector in Francophone West …

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New study ranks Africa’s most and least expensive cities for expatriates

Mercer’s 26th Cost of Living Survey finds majority of African cities have risen in rankings in the most and least expensive cities for expatriates globally * The most expensive cities are Victoria, N’djamena and Lagos * The least expensive cities are Banjul, Windhoek and Tunis JOHANNESBURG, South Africa, June 15, 2020,-/African Media Agency (AMA)/- According to Mercer’s 2020 Cost of …

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Nigeria nominates Okonjo-Iweala to head WTO

Nigeria’s President Muhammadu Buhari has nominated the country’s former finance minister, Ngozi Okonjo-Iweala, for the position of director-general of the World Trade Organisation. NAN reported on Thursday that Buhari withdrew the candidacy of Yonov Agah, Nigeria’s permanent representative to WTO, for the same position. The election is scheduled to hold in Geneva, Switzerland in 2021 for a four-year term that …

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Chancellor Merkel unveils stimulus package to kickstart Germany’s economy

German Chancellor Angela Merkel says governing parties have agreed on a €130 billion stimulus package to help revive the virus-hit economy. Under the wide-ranging measures, value-added tax will be temporarily slashed. Chancellor Angela Merkel said Wednesday that Germany was set to plow 130 billion euros ($146 billion) into rebooting an economy severely hit by the coronavirus pandemic. The measures include …

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AfDB: Board agrees to US demand for independent investigation of Akinwumi Adesina

The controversy surrounding accusations of malpractices against the President of the African Development Bank (AfDB), Dr Akinwumi Adesina, seems to have been resolved for now on Thursday. Some officials of the Abidjan, Cote d’Ivoire-based Bank had accused Dr Adesina of lack of respect of internal rules and regulations in recruitment, citing numerous cases of nepotism and favouritism. The AfDB’s Ethics …

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