- Kenya Airways remains in the red as loss hits historic USD290.8 million
- Kenya: Ruto urges German enterprises to invest in MSMEs
- Tanzania filmmakers’ quest to nab billions from global movie fans
- Diageo buys additional shares in EABL to become its leading shareholder
- Africa conference to discuss power affordability and access
- U.S. investment in Tanzania to grow after Samia’s policy shift
- Bamburi Cement appoints new CEO amidst dwindling profits
- Airtel Money partners with Prudential Uganda to launch affordable health insurance
Author: Mustapha Juma
Talented and immensely creative journalist with a commitment to high-quality research and writing with over 5 years of professional experience. Dedication to sound investigative research methods and a strong desire to know the truth of the matter. Excellent reporting and interviewing skills and award-winning writing techniques. Experience writing and reporting across a variety of platforms, including Opera News Kenya, DailyActive.info, LitKenya.com and Scooper News
The Equity Group Holdings Managing Director and CEO James Mwangi will be a keynote speaker at the upcoming 9th Angel Fair Africa (AFA) that will be held in Port Louis, Mauritius.
Equity Group's CEO, Dr. James Mwangi is a keynote for the 9th Angel Fair Africa – Mauritius. #getready
.#countdown #dodeals pic.twitter.com/hIZl42aGA5
— Angel Fair Africa (@AngelFairAfrica) September 13, 2021
Dr. Mwangi will keynote the event alongside EDventure Holdings chairwoman Arch Angel Esther Dyson, who is also the executive founder of Wellville.
Arch Angel @edyson is keynote for the 9th Angel Fair Africa – Mauritius. #getready
.#countdown #dodeals pic.twitter.com/X2cdZHZZUZ
— Angel Fair Africa (@AngelFairAfrica) September 6, 2021
AFA is a Chanzo Capital event that brings selected African entrepreneurs to pitch to a room of curated investors with the intent of doing deals.
Africa India Entrepreneurship Forum (AIEF)
In this year’s event, Chanzo Capital has …
The Kenya Revenue Authority (KRA) is planning to move to the Court of Appeal to overturn the High Court’s ruling that barred the taxman from collecting minimum tax from businesses.
Justice George Odunga on Monday, September 20, 2021, at the Machakos High Court, made the ruling after finding section 12D of the Income Tax Act unconstitutional.
The court noted that minimum tax was unconstitutional for subjecting taxpayers to double taxation and was punitive in nature.
However, the authority with the findings of the court and will prefer an appeal to the Court of Appeal to challenge this finding.
Reduce tax burden
In a press statement posted on their official website hours after the court ruling, KRA said the appeal will ensure that it continues to review and improve on tax policies for them to reduce the tax burden.
“The Kenya Revenue Authority respectfully disagrees with the findings of …
These include digitising key trade processes at a national level followed by linking these at a regional level and supporting policies to promote e-commerce across the Continent.
Also in the agreement is developing regional value chains and investment; and developing Africa’s cross-border trade with a focus on women traders, youth and MSMEs.…
With the sixth edition of the Global Business Forum Africa event series set to run this year from October 13–14, 2021 in the United Arab Emirates (UAE), businesses from Africa are increasingly looking at Dubai as a gateway for them to expand into markets across the GCC, Asia, and Europe.
Dubai’s focus on the African continent has been evident through GBF Africa, which aims at bringing the trade and investment community back together to explore bilateral trade opportunities between Dubai and Sub-Saharan Africa.
This year’s Forum is held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
UAE has served as a hub that global businesses have used to launch and run their operations in the African continent for a number of years now.
According to Dubai Chamber of Commerce and Industry’s Director of …
The deployment of biometric payment cards in the Middle East and Africa is set to go up.
This is after Zwipe, a Norwegian biometric technology company announced its partnership with Abu Dhabi-based NymCard to launch biometric payment cards in the two regions.
Established in 2009, Zwipe focuses on developing and commercializing secure, fast and easy to use biometric authentication solutions with opportunity for broad application across key verticals like payment, access control and government identification.
NymCard on the other hand is focused on frictionless, transparent and agile card issuance and payments processing services, through a Banking-as-a-Service model.
According to Zwipe, the company uses APIs and modern technologies to carry out notably fast implementations.
NymCard customers include gig economy, buy now pay later, youth banking, and corporate expense card providers across the MEA region.
The company is further expanding into Asia and Europe.
“In our region, consumers, fintechs, and …
What is FCMB net worth in 2021? Well, for the second time running, First City Monument Bank (FCMB) has emerged as Best SME Bank in Africa at the rigorous, prestigious, and transparent country-level honour programme for consumer financial services and technology in the Middle East and Africa.
The Nigeria’s leading lender headquartered in Lagos emerged Best SME Bank in Africa and Best SME Bank in Nigeria at the Asian Banker Middle East and Africa Regional Awards on the 25th of August 2021 after beating all other Nigerian and African banks.
“We are excited to win two awards this year, especially the Best SME Bank in Africa, for the second year. This shows that, we are meeting the specific needs of customers in this segment and are on a growth trajectory,” said the managing director of FCMB, Mrs Yemisi Edun while commenting on the award.
The awards, she stressed, will inspire
Taz Technologies, a Kenyan steadily growing and innovative ICT company based in Nairobi has announced expansion plans to four African countries.
Taz Technologies is the firm behind the famous digital mail service dubbed M-Post that was launched in Kenya in 2016.
MPost is a patented technology enabling any mobile phone user to transform their phones into a unique mobile postal box, and access postal services
Through a configuration of exclusive partnerships with national postal services around the world, users can register themselves with Mpost to send, receive mails and parcels.
MPost also enables users to pay for goods and services and to send, receive monies via e-banking services.
After the success of MPost in Kenya, Taz Technologies now says it hopes to launch services in South Africa, Uganda, Burundi and Rwanda.
This is as the firm looks to tap into the growing regional e-commerce market.
Also Read: West …
West Africa will fully adopt cleaner fuels and vehicles by January 1, 2025 in an effort to reduce air pollution across the region’s cities.
The deadline was set by the Economic Community of West African States (ECOWAS) during the African Refiners & Distributors Association (ARDA) 2021 Virtual Workshop Series.
According to ECOWAS Director of Energy Bayaornibe Dabire, the range of fuel specifications in the sub-region currently spans 50 Parts Per Million (PPM) sulphur in some countries to 10, 000 ppm in others.
Speaking at the ARDA workshop series, Bayaornibe Dabire said the need for harmonisation led to the issuance of ECOWAS directive C/DIR.2/09/20 last year.
The directive covers exhaust gas and particulate emission limits for two-wheeled, light and heavy vehicles.
Any improvement in fuel specifications without alignment with vehicle emission limits, Dabire said, would not have the desired effect.
He emphasized that member states should prohibit the import …
Africa Financial Services Investment Conference (AFSIC), the Africa investment forum for the year 2021 will be held at Park Plaza Westminster Bridge London, Greater London from Oct 11 – Oct 12.
AFSIC which is believed to be the largest Africa investment event takes place annually outside Africa and has become one of the most important conduits of investment into Africa.
Africa investment opportunities
The event which is now in its 8th year is entirely focused on highlighting Africa’s most interesting investment opportunities.
The event will bring together Africa’s business leaders and Africa’s most important investors and dealmakers and will showcase investment opportunities from across the whole of Africa.
AFSIC 2021 features a brand new agenda format ordered by industry focus. People will be able to listen to African business leaders and investors deliver exceptional keynotes and interactive panels and attend excellent interactive networking sessions.
ENERGICOTEL (ECTL) PLC, a member of EPC Africa Group, an independent power producer and an engineering consulting company has debut on Rwanda Stock Exchange (RSE).
The firm had in June announced in a statement that it had received regulatory approval to issue and list a Corporate Bond on the RSE.
On Monday August 16, 2021, RSE started trading Energicotel’s first-ever corporate bond.
This is the third corporate bond to be listed since the establishment of the RSE after the ones by the International Finance Corporation (IFC) and local lender BCR—which was acquired by I&M bank
The launch of the listing of the Rwf 6.5 billion ($6.4 million) long-term fixed rate corporate bond was presided over by the Minister of Infrastructure, Claver Gatete.
Several government officials, particularly from the finance sector, as well as investors also attended the bell-ringing ceremony.
Energicotel operate three hydropower plants in Rwanda, with a …