South Africa’s largest development finance institution (DFI), Industrial Development Corporation (IDC) has sold its remaining stake in GSI Lucchini SpA to JSW Steel Italy S.r.l. the closing of the deal earned Industrial Development Corporation €1 million for a 30.73% stake. JSW Steel Italy had signed a Share Purchase Agreement (SPA) with Industrial Development Corporation, South Africa...

In order to improve and continue with the East African Community’s (EAC) single customs territory, GUUD, a technology platform has been selected to design a system for digital trade documentation flows. East African Countries made of Burundi, Kenya, Rwanda, Tanzania and Uganda, launched this Single Customs Territory in 2013. “As the official technology partner for the project, GUUD will now...

Ethiopian state telecom provider Ethio-Telecom, in its 126 years of existence is increasing it pace by advancing its mobile services nationwide. This great move was boosted with the collaboration of global leading ICT infrastructure and smart devices provider, Huawei in the 4G LTE launching. The 4G LTE advanced mobile service was launched on April 8th in the East East Region of Ethiopia...

The Kenya Private Sector Alliance and The Canada-Africa Chamber of Business announce a Memorandum of Association with the aim to promote, support and facilitate bilateral trade and investment opportunities from Canada into Kenya. The Second Session of the Binational Commission meeting between Kenya and Canada is being held in Nairobi, Kenya from the 13th to the 15th of April 2021. Subject to...

Ethiopia’s electronic trading platform, Ethiopian Commodity Exchange (ECX) has announced the trading of yellow unspeckled beans, which is the third for the budget year alone for exclusive trading at ECX. Due to its trending nature, unspeckled beans will join the growing demand for sesame seed, niger seed, and soybeans in local and across boarder markets. “Now local edible oil pressers are...

Stanbic Bank’s purchasing managers index (PMI) reports indicated a slide increase in business conditions in Uganda for the past two months; from 51.2 in February to 53.2 in March. This change is a positive view for the country’s economy that has been facing backlashes with its private sector since the outbreak of Covid 19. The sectors mainly covered by the composite index include...

Sub-Saharan Africa will be the world’s slowest growing region this year, according to estimates by the International Monetary Fund -IMF. In the Regional Economic Outlook for Sub-Saharan Africa published yesterday April 15, the institution revealed that for the current year, the region should record an economic growth of 3.4%. This is less than the world average (6%), the euro zone (4.4%),...

African leaders assembled at a global meeting to discuss the status of local pharmaceutical manufacturing on the continent, underscored the need to increase local production of vaccines and therapeutics to achieve greater public-health security.  “The production of vaccines and access to vaccines is an absolute priority,” Cyril Ramaphosa, President of South Africa, said Monday in...

Growthpoint Properties, one of South Africa's largest real estate investment companies, which manages a portfolio of more than 500 properties in Europe, Australia, and South Africa, has received an offer to sell the 65.2 million shares, representing its 29.5% stake in a London-listed real estate company active in Central and Eastern Europe. The offer was made by two Luxembourg companies,...

Travel companies in Kenya are asking for government support to better resist the coronavirus pandemic. In a statement issued last April 14, Mohammed Wanyoike (pictured), head of the Kenya Association of Travel Agents (KATA) called the state to grant the association a financial support.  "We call on policymakers to continue discussions and agree on coordinated measures that are necessary for...