Month: June 2019

It is estimated that the East African region loses upwards of USD500 million in government tax revenue annually.…

Tesla Powerwall, the battery system produced by the American automotive and energy company Tesla has made significant in roads in Africa.

This follows the successful completion of a 12-month trial integrating of the Tesla Powerwall with one of Africa’s largest telecommunication provider, Econet.  This will see Econet’s telecommunication towers to provide backup power 260 Econet sites across Africa.

In addition Distributed Power Africa [DPA], a subsidiary of Econet Global, will be installing Tesla Powerwalls to power Econet Wireless’ local operations for their telecommunications towers; commencing one of Africa’s largest deployments of AC coupled Lithium-ion batteries in the telecoms sector.

“We were impressed with the performance of Tesla Powerwall during the trial stage. It addresses the power back up requirements, offers 100% depth of discharge and has a wide temperature operating range. It also offers real time monitoring and will help mitigate against current battery theft issues being experience with lead …

Kenya is in talks with the African Organisation for Standardisation (ARSO) member states to develop a common regulatory framework that will fast track the implementation of the Africa Continental Free Trade Area (AfCFTA) agreement.

AfCFTA deliberations not only bind all ARSO member states to commit to the progressive elimination of tariffs and non-tariff barriers to trade, but are expected to contribute immensely in sustainable development of Africa.

This is through poverty reduction by improved harmonization of standards and conformity assessment,  and coordination of trade policies and instruments across African countries and Regional Economic Communities (RECs).

While addressing delegations from African countries during the official opening ceremony of the 25th ARSO General Assembly and the Africa Day of Standardisation forum, Hon. Peter Munya, MGH, Cabinet Secretary, Ministry of Industry, Trade and Cooperatives reaffirmed the government’s commitment in promoting intra-African trade through elimination of import duties and non-tariff barriers.

“As a signatory …

WorldRemit, Western Union, Ria, Dahabshil, Wave and Paypal are some of the most preferred channels of receiving cash from abroad.…

Broll Property Group, the largest independently owned Pan-African commercial property services company, has entered into an exclusive affiliate arrangement with Cushman & Wakefield, a leading global real estate services company.

The new venture represents a partnership with Broll’s Occupier Services business and will be branded Cushman & Wakefield Broll, providing clients with an integrated platform covering the entire sub-Saharan Africa region.

The partnership combines Broll’s well-established operations and market-leading track record of Occupier Services across Africa with Cushman & Wakefield’s global reach. This will allow for the optimization of Broll’s expansive knowledge of the African markets with the weight and expertise of a global player. “This partnership provides an important distinction for users of space, who will benefit from the Cushman & Wakefield Broll dedicated focus on occupier clients,” says Ken Gerber, Managing Director of Broll Occupier Services.

The service offering covers end-to-end corporate real estate solutions for businesses across …

International lottery and gaming operator Tenlot Group has acquired an 85 per cent stake in Kenya Charity Sweepstake (KSC), the country’s oldest public lottery. KSC was established in Kenya in 1966 with the aim of helping to alleviate poverty and to provide financial support to social causes.

The acquisition is meant to take advantage of a growing gaming culture in Kenya that has blossomed in the last five years. The country has seen the entry of international betting companies leading to the government coming up with tough measures to rein on them.

More than 7.6 million Kenyans have loans from multiple mobile loan apps with 2 per cent of these defaulting and being listed with the Credit Reference Bureaus (CRBs) in the country.

In a report by Metropol Corporation, more than 380,000 Kenyans have so far defaulted on loans taken from the mobile money lenders.

Due to this, the Kenyan parliament through the Information, Communication and Technology (ICT) Committee has urged the Central Bank of Kenya (CBK) to create regulatory measures of the sector especially on interest rates charged by the mobile money apps.

Metropol notes that on average, a borrower in the country has loans from at least six out of the 10 mobile money lenders.

This is despite the fact that mobile money loan apps charge unregulated interest rates.

Mobile lenders’ meteoric growth in Kenya

And to show how successful the lenders have been, Mobile lender Tala has disbursed loans …

Africa escaped the global decline in foreign direct investment (FDI) as flows to the continent rose to US$46 billion in 2018, an increase of 11% on the previous year, according to UNCTAD’s World Investment Report 2019.

Growing demand for some commodities and a corresponding rise in their prices as well as the growth in non-resource-seeking investment in a few economies underpinned the rise.

While FDI in some large economies on the continent – such as Nigeria and Egypt – contracted, this was outweighed by a surge in flows to others, most significantly, South Africa.

“The African Continental Free Trade Area (AfCFTA) agreement will bolster regional cooperation. This, along with upbeat growth prospects, augurs well for FDI flows to the continent,” UNCTAD Secretary-General Mukhisa Kituyi said.

FDI flows to Sub-Saharan Africa climbed by 13% to $32 billion, recovering ground after successive contractions in the two prior years. Southern Africa saw …

Artificial intelligence (AI) technologies are forecast to add US$15 trillion to the global economy by 2030. A new report by Canadian International Development Research Center (IDRC) and Oxford Insights has noted that Africa ranks  lowly on the global list countries that have adopted or are ready to adopt technologies related to Artificial Intelligence.

There are no African countries in the top 50 positions, and only 12 African countries in the top 100. The top five placed African governments – Kenya, Tunisia, Mauritius, South Africa, and Ghana – reflects the well-documented developments in the technology sectors of these countries.

Of the bottom ten countries, seven are classified as Least Developed Countries, the Government Artificial Intelligence Readiness Index 2019 reports.

One of the biggest challenges facing the characterization of AI activities and readiness in Africa is a lack of systematic study on the topic. As a result, there is a relative lack …

International cosmetic company, Labo, has launched two of its cosmetic products; Crescina and Fillerina on the Kenyan market through Medipoint Pharmaceuticals.

Fillerina is an anti-skin ageing product that was produced following a study by Labo on skin ageing and skin biological process that saw it being granted 9 specific formulation patents.

In 2012, the product was introduced as a real breakthrough in skin filling technology.

“Fillerina has two major functions; to correct wrinkles; these are expression lines and deep furrows that form on the skin, and to improve the microrelief; these are the aging lines and fine lines; as well as give new volumes to cheekbones, lips etcetera,” Said Mr. Godfrey Wambaa, the Managing Director of Medipoint Pharmaceuticals. As skin ages, the amount of hyaluronic acid gradually declines, causing imperfections such as ageing wrinkles, expression lines and loss of volume; that is, deflation and skin depressions, especially as regards to …