PCCW Global, subsidiary of Chinese telecom group HKT, announces an important upgrading of its internet infrastructure in Mozambique. This announcement is made weeks after the tropical cyclone Idai, which caused numerous material damages and hundreds of deaths in the country. PCCW’s internet infrastructure combines optical fibre, satellite, microwave signals and wireless connectivity. PCCW...

Amid its tensions with China, the USA is changing the strategy of its Overseas Private Investment Corporation (OPIC). In that framework, more funds will be provided to the corporation and a new strategy created.   However, it will be difficult to compete with China’s financings in Africa. Indeed, according to data compiled from the corporation's website, it appears that the total value of...

Till April 24, 2019, the Uganda Communications Commission (UCC) will receive citizens’ opinions on the various changes they need for the current telecom license system. The public consultation process launched on April 4, 2019, in that regard is aimed at facilitating the introduction of new players in the market and improving competitiveness as well as consumers’ purchase power. It is also...

Société de Limonaderies et des Brasseries d'Afrique (solibra), subsidiary of Castel group in Côte d’Ivoire, ended 2018 with XOF1.3 billion of net profit. On a year-to-year basis, this performance is three times lower than the XOF4.2 billion recorded in 2017. The management provided no reason for this counter-performance. Nonetheless, it is to be noted that the firm’s turnover reached a...

In 2019, drought could negatively affect Kenya’s economy by hitting the agricultural sector, the World Bank announced in a new report published this week. According to the institution, the country’s growth could fall from the initial forecast (published in October 2018 at 5.8%) to 5.7% due to the impact that drought could have on the country’s agricultural sector that represents about...

Seedstar World recently announced that it will set a $100 million fund to support African startups in collaboration with Venture Growth, a venture capital based in Sub Sahara Africa. According to Seedstar financial manager’s statement relayed by Venture Burn, the first investments to be structured via this fund should be made this year and up to 40 startups will be supported. The fund...

Via Enterprise Incubator Foundation (EIF), Armenia signed a memorandum of agreement with Rwanda based Smart Africa Center for partnership in the IT, education and engineering sector.   The agreement was signed on April 7, 2019, during an official visit of the Armenian minister of foreign affairs Zohrab Mnatsakanyan (photo) in Rwanda. During the visit, he met Lacina Koné, managing director...

Broadband service provider Smile Communications Nigeria announced that it concluded an international data roaming agreement with NUU Mobile (HKG) Limited. Thanks to this agreement, Smile Communications’ partners can automatically access data services during their travel in more than 85 countries such as the USA, the UK, South Africa, Canada and Kenya.   According to Lotanna Anajemba,...

The independent analysis firm Alpha Mena has pegged a sell rating on BMCE Bank of Africa on the belief that it could record a significant loss in the future. The analysis firm explains that between 2019 and 2021, the scenario according to which BMCE Bank of Africa is unable to boost revenues and reduce expenses would continue. The consequence would be a decreasing net margin.   For the...

Egypt and Saudi Arabia signed, on April 8, 2019, two memorandums of understanding to develop smart solutions. These memorandums are the result of a working visit started on April 7, 2019, in Cairo by Saudi IT minister Abdullah bin Amer Alswaha. At the head of a delegation of high ranking officials, Abdullah bin Amer Alswaha met his Egyptian peer Amr Talaat. They discussed the improvement of...