Author: Caroline Muriuki

As banks, security organizations and other entities requiring data storage, Africa is seeing a growth of data centres across the continent. The Jasco Group, an ICT smart technology solutions partner has signed an agreement with Icolo to create a data centre in Karen, Nairobi. 

In light of this, new points of presence (PoP) are growing. Nairobi is becoming a hub as data storage and security is becoming needed ever so more. 

Jasco co-locating with Icolo takes the company a step towards ensuring it provides its customer’s guaranteed solutions. Data centres offer non-stop available of internet and data with guaranteed backup and protection against damage, disaster and damage.

iColo is a carrier-neutral data centre service provider. They offer access to co-locate to business in all fields including cloud providers, content providers, financial sector and enterprise segment. Therefore, it creates an ecosystem for businesses to hold on as well as grow. The …

MTN Cameroon received the highest quality certification on its Mobile Money (MoMo) service from GSMA.

With the certification, MTN Cameroon becomes the first telco in the six-nation Central African Economic and Monetary Community (CEMAC) to be awarded the award.

The GSMA Certification signals safer, transparent and reliable means of sending and receiving money by the mobile phone carrier’s users.

In a statement, MTN Cameroon said in December, the certification of the reliability of its financial services followed a rigorous, independent assessment describing the feat as “a source of pride” for the company.

Also Read:Former MTN boss Phuthuma Nhleko invests in Kenyan data centre

“Mobile Money users in Cameroon can rest assured in the capacity of MTN to secure their transactions, educate them on the use of the products and services that it puts at their disposal and communicate transparently on the tariffs for various services to ensure optimal quality …

Africa Oil & Power (AOP) launches Renewables, African LNG and Energy Finance Event at Africa Oil & Power 2020 in Cape Town, South Africa.

It is the first time AOP is hosting the forum which is in line with the vision of South Africa’s Department of Mineral Resources and Energy, the government and private sector partners from all four corners of Africa.

The Africa Oil & Power forum 2020 will host presidents, ministers, utility and national oil company heads and renewables executives. The event will majorly focus on the driving factors behind energy transition.

The theme of the conference which marks the entrance of the African Continental Free Trade Area is ‘Invest Without Boundaries’. The Africa Oil & Power is the only conference on the continent that fully unites power and petroleum

Also Read: Uganda oil refinery gets funding from Africa Finance Corporation

“AOP 2020 is the meeting place for …

The US restricted tobacco imports from impoverished Malawi over allegations that workers including children were being exploited.

Although Malawi’s total exports to the United States make up only a small part the US move could make it harder selling its tobacco elsewhere leading to anxiety among farmers who fear they might be forced to accept lower prices.

Tobacco is Malawi’s top crop in terms of employment, 60 per cent foreign exchange earnings and 25 per cent tax revenue any trouble the sector runs into could quickly affect the economy.

Tobacco is already confronted with global anti-tobacco campaigns adding more pressure on the tobacco sector in Malawi.

Its troubles began in late October when the British law firm Leigh Day announced it was preparing a landmark class action case against British American Tobacco (BAT) on behalf of 2,000 Malawian farmers, including hundreds of children, for forced labour and poor wages.

BAT, …

The African Development Bank through managed Sustainable Energy Fund for Africa (SEFA) approved a $990,000 grant to support the preparation of a 9-MW solar-hydro hybrid project in Burundi.

The project consists of two plants, each consisting a solar and a hydro component, a local distribution network and interconnection to the national power grid. The innovative hybrid design is seen to regularize the output of power during the dry and wet season and mitigate power shortfalls caused by climate change.

Also Read: African Development Bank launches AFAWA Risk Sharing Facility

The SEFA grant is instrumental in assuring project bankability it will support technical feasibility, social impact and environmental assessment and financial advisory for the solar-hydro hybrid project.

The project will electrify about 20,000 households in surrounding communities through a local distribution network upon completion.
As a result of more electricity access the project will further generate socio-economic benefits especially for women …

The U.S. Department of State gathered a group of private sector representatives to explore investment and collaborative business opportunities in Ethiopia, during the Global Entrepreneurship Week.

A week was spent by the Partnership Opportunity Delegation (POD) engaging with government leaders, private sector entities and Ethiopian entrepreneurs to understand the challenges and opportunities facing Ethiopian innovators and share expertise on how the country can better provide an enabling environment for tech and startups. The delegation included more than 15 companies representing Japan, United States and Sweden.

Also Read: Awash Bank, USAID to help small Agribusinesses in Ethiopia

The Office of Global Partnerships led the POD in exploring opportunities in various sectors of the Ethiopian economy such as digital connectivity, Fintech, creative industry and startups. From these first-hand engagements, several delegates committed to supporting Ethiopia’s economy in tangible ways through workforce development, social entrepreneurship, startup investment, exploring opportunities for telecom privatization …

The U.S. Agency for International Development (USAID) and Awash Bank announced a new partnership of $6.4 million to finance microfinance institutions and small- and medium-sized agricultural businesses in Ethiopia.

Under a USAID Development Credit Authority (DCA) agreement, the program will expand commercial bank lending into underserved areas in Ethiopia. It will also provide private finance needed to help farmers and businesses increase production, as well as support Ethiopia’s efforts to modernize the agricultural sector.

Through private capital sources, local microfinance institutions are able to expand lending to individuals and small businesses, mostly smallholder farmers and Productive Safety Net Program (PSNP) clients. This partnership will also support Awash Bank’s direct lending to SMEs in the agriculture sector, where access to credit remains low despite contributing 34 per cent of Ethiopia’s GDP and employing about 70 per cent of the total labour workforce.

Also Read: Mastercard foundation to help create 10

The Chinese government offered Ghana a grant of $42.62 million for economic and technical projects implementation.

The economic and technical cooperation agreement was signed on Thursday by Chinese Ambassador to Ghana Wang Shiting and Kenneth Ofori-Atta Ghana’s Finance Minister.

This follows Madam Sun Chunlan China’s First Premier visit to Ghana where she had promised to give the grant to finance some economic and technical projects.

The Minister of Finance, Ken Ofori-Atta commended the Chinese government for its continuous support to Ghana during the signing ceremony in Accra

Also Read: Ghana hosts key African Continental Free Trade Area meetings

“We would like to acknowledge the immense support the government of the People’s Republic of China has provided Ghana over the decades especially in the areas of infrastructure, information communication technology, trade and investment, tourism and education including technical vocation education training,” he said.

Mr Ofori-Atta said the grant would be used …

South Sudan traders and businesses are hoping for intermission in the foreign exchange market after the Bank of South Sudan said it would introduce dollars into the market to protect the local currency.

Since after the payment of several months of salaries in arrears in September, South Sudan pound has been weakening against the dollar.

“The pound has lost value in the past two months due to the impact of the recent payment of salaries,” said Central Bank Governor Dier Tong.

About $115.2 million which is about 31 per cent of the currency in circulation was put into the economy for the payments.

Also Read: AfDB funds South Sudan’s capital city power distribution system

In October, South Sudan’s government secured $400 million financings from the Africa Export-Import Bank to pay the salaries and finance infrastructure projects.

Elijah Wamalwa the managing director and CEO of Co-operative Bank of South Sudan said …

Uganda’s Umeme has secured a $70 million syndicated loan from the International Finance Corporation (IFC), Dutch Development Bank (FMO), Standard Chartered Bank and Stanbic bank.

From the loan $28 million was from IFC, $10 million from FMO, $16 million from Standard Chartered Bank and $16 million from Stanbic bank.

Umeme chairman, Mr Patrick Bitature said the loan would partly be used to undertake capital investments to get electricity from Uganda’s newest dams.

“The planned investments are aimed at expanding the network to uptake the new generation, improve reliability and create access,” he said.

Also Read: IFC $22M partnership with Investment Funds for Health in Africa

Mr Bitature said the loan would also be utilised to prioritise Umeme’s investments in five other areas such as upgrading its network, extending power to industrial parks, building the backbone for more electricity connections to be supplied, reducing energy losses and accelerate prepayment metering.…