Pan-African Submarine cable operator Seacom announced it is partnering with data center provider Raxio Data Center Ltd to offer Ugandan customers a wider range of digital services. The telecom company intends to rely on the Raxio Uganda data center, currently under construction in the country and expected to be ready for use by the first quarter of 2020. According to Tonny Tugee, Seacom’s...

A pipeline explosion that occurred yesterday November 13 killed 6 and injured 16 others in Egypt’s Northern Province of Bahira. The sad news was announced by Abdelmoneim Hafez, head of the national oil pipelines authority, who stressed that the fire was caused by an oil leak which was the work of thieves siphoning off oil. According to official report, the pipeline exploded precisely near Itay...

The African Development Bank (AfDB) has just published its 2019 Africa visa openness survey that measures the level of openness of African countries' borders to travelers. The ranking is based on four criteria including the issuance of visas, the ratification of the African Continental Free Trade Area (AfCFTA), accession to the African Single Transport Market, and the implementation of the...

Power Africa reaches a deal with Africa50 to raise funds for the electricity sector in Africa. The collaboration will also focus on the development of innovative public-private partnership models in sub-Saharan Africa. “Energy generation and transmission are among the most pressing infrastructure needs in Africa, with important economic multiplier effects. To successfully develop energy sector...

Venture capital company CVentures made its first investment since it launched activities in December 2018. Along with Algebra Ventures and ASI Ventures, the company co-injected $1 million in the Egyptian heath tech startup Yadowy, a start-up company founded in 2018 by Karim Khashaba, Sherief El-Feky, and Yasser AbdelGawad. The start-up, which allows users to order medicines and...

It was deals that brought participants to the 2019 Africa Investment Forum and they were not disappointed. The second Forum ended on a high note Wednesday, with 56 boardroom deals valued at $67.6 billion tabled - a 44% increase from last year. Fifty-two deals worth $40.1 billion secured investor interest compared with $37.8 billion dollars last year. During the 2018 edition of...

The Tunisian Stock Exchange (BVMT) experienced its lowest transaction value in the third quarter of 2019, since the fourth quarter of 2017, we learned. The value of transactions carried out on the market over the three months ending at the end of September was TND258 million, down for the third consecutive time since the beginning of the year. Tunindex, the benchmark index for all companies in...

The European Investment Bank (EIB) has announced a $1.1 billion lending programme to help women entrepreneurs on the continent.  EIB Vice President, Ambroise Fayolle (photo), also revealed that the bank has signed three further agreements to boost sustainable development on the continent.  But the major deal is what the EIB has dubbed SheInvest. The EIB expects the gender-lending...

The African Development Bank, Credit Suisse AG, the Industrial and Commercial Bank of China Limited and Ghana Cocoa Board (COCOBOD) signed a $600 million syndicated receivables-backed term loan on Tuesday, to boost cocoa productivity in Ghana - the world’s second-largest cocoa producer. Ghanaian President Nana Addo Dankwa Akufo-Addo, the President of the African Development Bank...

Africa has the potential to expand the continental economy fourfold, with energy demands expanding by only 50 percent, according to a new report. The International Energy Agency (IEA) unveiled its report on the first day of the second African Investment Forum in Johannesburg, South Africa. Africa Energy Outlook 2019 found that the continent’s future energy prospects look bright, but only if...