On the sidelines of the International Telecommunications Forum, organized by the International Telecommunications Union (ITU) in Hungary from September 9 to 12, Zimbabwe and China signed an agreement to boost their ICT sectors.   The cooperation deal was inked by Zimbabwe's ICT Minister, Kazembe Kazembe (pictured), and China's Vice Minister of Industry and Information Technology, Chen...

Lagos and London-based online bank Kuda said it has raised $1.6 million with a consortium of angel investors led by Haresh Aswani, the Managing Director-Africa of Tolaram Group, a diversified holding company focused on food distribution, energy and financial services. The start-up Kuda, which holds a banking license obtained in June 2019 from the Nigerian banking system regulator, plans to...

South Africa’s government reached a financing deal of R140 million ($10,176,564) with IT company Cisco, the telecom minister, Stella Ndabeni-Abrahams (pictured), announced. Speaking at a breakfast last week - organized by Brand SA ahead of the World Economic Forum for Africa held in Cape Town from 4 to 6 September 2019, the official said the fund will be invested over a 3-year period to help...

Hong Kong Exchanges and Clearing (HKEX) made an unsolicited offer of $36.6 billion to acquire the London Stock Exchange Group. The Asian company says it will pay both in cash and shares for a total of £83.6 for each LSEG share; this is 22.7% higher than the value of LSE share as at September 11, when the offer was made.“Bringing HKEX and LSEG together will redefine global capital markets...

The Chadian government announced this week it is extending the state of emergency in the three regions plagued by ethnic clashes, by additional 4 months. The measure concerns the eastern regions of Sila and Ouaddaï near the border with Sudan, and in the western region of Tibesti at the border with Niger.The violent clashes between breeders and farmers that killed dozens of people last August...

The Corporate Secretaries of International Financial Institutions (IFIs) will hold their 20th annual meeting from 11 to 13 September 2019 at the headquarters of the African Development Bank in Abidjan. The Abidjan deliberations will seek to build on the achievements of the group’s meeting in Bali, Indonesia, a year ago. Members will address the effectiveness of the IFIs governing Board,...

Egypt's National Telecommunications Regulatory Authority (NTRA) and mobile operators Orange Egypt, Vodafone Egypt, and Etisalat Misr signed a settlement agreement on 9 September 2019. The agreement was inked by Mustafa Abdel Wahed (pictured), NTRA Executive Chairman, Yasser Shaker, CEO of Orange Egypt, Alexander Froman, CEO of Vodafone Egypt and Hazem Metwally, CEO of Etisalat Misr. They want to...

The government of Angola has cashed out $16 million with the privatization of five industrial units, the Institute for the Management of State Assets and Equities (IGAPE) reported.The new divestment wave is part of President João Lourenço’s privatization strategy, initiated a few months ago. These units, four of which have been shut down for 10 years, are Carton, Indugidet, Juntex,...

Egyptian Space Agency, in tandem with China National Space Administration, kicked off the construction of the MisrSat-II satellite. This was during the fourth China-Arab States Expo held from September 5 to 8 in à Ningxia, China. Fundraising for the project was closed in January this year and the Chinese government contributed a total of $140 million. The new space equipment will help...

Kuwait’s Agility Public Warehousing Co. confirms its plan to inject about $800 million to expand across Africa by late June 2020. One of the company’s managers announced this in an interview given on the sidelines of the World Economic Forum for Africa, which was held from 4 to 6 September in South Africa. Agility, which is present in nearly 100 countries around the world, has already...