The licenses of two Nairobi Securities Exchange-listed cement producers could be cancelled. Indeed, Athi River Mining and East African Portland Cement are mentioned in an audit as companies owing Kenya. In the concluding part of that audit, the mining minister recommended the suspension of their licenses. ARM Cement, in which the Indian born billionaire Pradeep Harjivandas Paunrana is the major...

German Rocket Internet is currently preparing the introduction of Jumia, the African E-commerce platform, on the New York Stock Exchange (NYSE). According to leaks collected by Reuters, the IPO of that operation is conducted by Citi, Bank, Morgan Stanley and Berenberg. Jumia’s listing on the NYSE is just the continuity of the asset selling strategy conducted since months by Rocket...

American hotel group Marriott International, announced in a statement published on February 8, 2019, that it would launch operations in Liberia, Morocco and Ghana. In Liberia, Marriott will launch its operations with the Four Points by Sheraton Monrovia, set to be opened in 2020. “The hotel will consist of 111 stylishly appointed guestrooms and four food and beverage outlets, including a...

Algeria’s president Abdel Aziz Bouteflika, in power since 1999, announced in a statement published on February 10, 2019, his ambition to run, for the fifth time, for his country’s presidential elections. The statement reported by APS, confirms the National Liberation Front secretary general’s announcement, in October 2018, indicating that Bouteflika would be a candidate for the country’s...

2019 Sunhak Peace Prize Laureate Akinwumi Adesina has pledged to do more to advance Africa’s fight against hunger, poverty and youth underemployment. The President of the African Development Bank, and co-Laureate Waris Dirie, a global champion against Female Genital Mutilation, shared the prestigious US $1million dollar prize at an award ceremony held on 9 February 2019 in Seoul, South...

“We are working hard with governments to improve transparency, governance, accountability and project delivery across the continent. Corruption does not invest in the future, it kills the future,” Akinwumi Adesina, President of the African Development Bank said at the World Peace Summit of Global Leaders. According to the World Economic Forum, an estimated $116 billion a year would be...

A third round of two-week masterclasses on entrepreneurship, business development and financial management for women entrepreneurs organized by the African Development Bank in partnership with Entreprenarium, kicked off Thursday in Kenya, under the Bank’s flagship Affirmative Finance Action for Women in Africa (AFAWA) program. Two hundred Kenyan women entrepreneurs, who pre-qualified through...

Guillaume Soro (photo), president of Côte d’Ivoire’s national assembly officially resigned during an extraordinary meeting hastily convened today February 8, 2019. "Dear colleagues, the time has come !", Guillaume Soro said as an introduction to his speech.  "At this exact moment, I am submitting my resignation as the president of the national assembly of Côte d’Ivoire. Yes, I have...

PSA announced in a statement published on February 7, 2019, the full acquisition of  Travelcar, the largest airport parking and car rental company, to boost its position on the mobility market. Two years ago, PSA acquired 22% of Travelcar, the startup founded by Tunisian engineer Ahmed Mhiri. “Through this acquisition, we are stepping up our support for the company and demonstrating our...

A new $100 million fund will be created in Q3 or Q4, 2019, to support local entrepreneurs, Strive Masiyiwa (photo), announced in a statement quoted by Forbes. The new fund named “Masiyiwa Rural Challenge Fund” will be fully funded by the businessman and, it will grant $1,000-$10,000 5-year non-secured loans with a 5% maximum interest rate. These loans will be granted via...