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…

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…

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…

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…

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…

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…

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)…

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…

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…

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…