Mobile operator Tigo Tanzania has expanded its Mobile Money service across East Africa. Tigo Pesa subscribers can now send or receive money to or from M-Pesa in Kenya, MTN MoMo in Uganda or Airtel Money in Rwanda via mobile phone, enabling families to transfer money to relatives, and small businesses to continue their operations. According to Angelica Pesha, the director of mobile financial...

Disruptech, an Egyptian fund launched in April 2020 by Mohamed Okasha (former MD of Fary) and his partners, announced it has realized its first investments in Egypt. The $25 million fund invested in the capital of fintech Khazna and the trade platform Brimore. Incorporated in 2019, Khazna offers various financial services including salary advances to employees. Brimore, founded in 2017,...

Nigeria and Ghana, which are considered the two reliable drivers for the implementation of the single currency (ECO) within the ECOWAS, are going through difficult times due to the current international conjuncture. Rating agencies Moody’s and S&P Global Ratings have both either downgraded or maintained the outlook on their sovereign ratings to negative. The two West African countries are...

Despite the coronavirus crisis that is hitting Morocco’s economy and disrupting all sectors including telecoms, the incumbent operator Maroc Telecom has posted a good result for the first quarter this year. The company’s consolidated turnover for the period was MAD9,307 million ($922 million), up 4% compared to that in Q1 2019. Turnover was MAD5,400 million ($$535 million), up 0.3%...

As part of the plan to modernise the activities of the container terminal, Conakry Terminal, a subsidiary of Bolloré Ports, took delivery of four RTG gantries on Friday 3 April 2020. The new investment will enable the Guinean supply chain to increase the productivity of the terminal with a view to bolstering the country’s competitiveness and boosting trade. Built by Konecranes, a lifting...

The Government of the Republic of Congo, through its Ministry of Posts and Telecommunications, has decided to conduct an administrative, financial and accounting audit of the management of the Central Africa Backbone project for 2020 and 2021. On 17 April this year, the government launched a tender to select the firm that will be in charge of this mission. According to the Congolese Ministry of...

Reservoir Capital Corp, which has energy assets in emerging markets, completed the acquisition of Olocorp Nigeria Ltd, a Nigeria-based company whose business is to acquire shares in North-South Power. Under the terms of the agreement, the Canadian firm Reservoir Capital, through its subsidiary Kainji Power Holding Limited, purchased the 40% stake held by the Olo family (Eric and Clara) in...

Angola is expected to maintain its Luanda International Fair (FILDA) 2020, despite the current coronavirus pandemic. The announcement was made by Bruno Albernaz (pictured), chairman of the board of directors of Eventos Arena group, the company organizing the event. Scheduled to be held from 14 to 18 July 2020 in the premises of the Luanda-Bengo Special Economic Zone (ZEELB), FILDA 2020 is...

Kenya plans to leverage local tourism to recover from the economic crisis caused by the pandemic of the new coronavirus, Tourism secretary Najib Balala (pictured) reported. The new strategy, which aims to promote national and regional travel, is expected to last two years. Its objective is to accelerate the recovery of the tourism sector, after the covid-19 crisis which led to the suspension of...

Mobile operators MTN, Vodacom and Telkom win additional temporary spectrum following a tender launched by the Independent Communications Authority of South Africa (Icasa). The strategy is part of the efforts deployed by the government to fight the coronavirus pandemic. In the 700/800 MHz frequency band, MTN, Vodacom and Telkom each received a frequency of 40 MHz. In the 2300 MHz band, only...