The new executive has over 25 years of experience in the telecoms sector, with senior positions at leading mobile network providers in South Africa and abroad. Most recently, he was the Chief Customer Officer of Vodacom South Africa. South African telecommunications company Cell C recently appointed Jorge Mendes (photo) as its new Chief Executive Officer, effective July 1, 2023. In his new role,...

In 2021, Econet kicked off plans with rival NetOne to expand its telecom network.  In February, the operator signed a new partnership agreement with Sweden's Ericsson to modernize its network infrastructure. Telecommunications company Econet Wireless Zimbabwe has announced plans to upgrade 500 of its base stations and deploy 300 new stations across the country before the end of the year....

The decision was eagerly awaited by several actors. However, insufficient regulation could lead to excessive speculation and the value of the naira going excessively high to become unaffordable for small and medium-sized businesses, with banks being the main beneficiaries. In a release issued on Wednesday, June 14, the Central Bank of Nigeria ended a policy that was consecrating the multiple...

The Fund for Export Development in Africa (FEDA), the development impact-focused subsidiary of the African Export-Import Bank (Afreximbank), has announced that Democratic Republic of São Tomé and Príncipe has become the latest country to sign the FEDA Establishment Agreement. The accession to the agreement, achieved under the guidance of Prime Minister Patrice Trovoada of São Tomé and...

In November when it was launched, uMunthu raised €50 million. In the six months that followed it managed to raise only €7 million till its first close at €57 million.  Venture capital fund uMunthu II is struggling to secure the financial resources it needs to finance SMEs in Africa. In an official memo published at the end of May 2023, this investment vehicle co-managed...

The Congolese government goes as far as brandishing legal actions and disclosing its will to acquire a controlling stake in the subsidiary.   In Congo, the government is opposed to the agreement reached by French banking group Société Générale for the sale of its local subsidiary to Vista Group, a bank holding company founded and managed by Burkinabe banker Simon Tiemtore. "The...

ICT is at the heart of the digital transformation prioritized by many governments across the globe. Therefore, to accelerate the realization of their digital ambitions, states are exploring mutual collaborations in the sector. Angola and Zambia want to enhance their IT cooperation, reports the Angolan Press Agency (ANGOP). According to the agency, on June 12, 2023, Mário de Oliveira (photo),...

In addition to agricultural support mechanisms, food subsidies are effective means to combat food insecurity worldwide. In Egypt, the food subsidy system is one of the most expensive in Africa.   In Egypt, the executive has decided to allocate EGP128 billion ($4.1 billion) to cover food subsidies in the 2023/2024 fiscal year starting July 1, Reuters reports. The amount is down 12%...

According to the survey published on June 5, most people in the Middle East and Africa believe climate change is already having an impact on their daily lives. Sub-Saharan African residents report higher impacts than MENA residents.   In Africa and the Middle East, 76% of citizens believe that their country should invest in the development of renewable energies, while only 13% feel...

There is an optimistic stance on the WAEMU government securities market. In a resilient economic climate, marked by falling inflation and the central bank BCEAO's announcement of maintaining its key rates, three member states' Union successfully completed their issue operations last week.   Between June 7 and 9, Burkina Faso, Niger, and Senegal raised CFAF116.93 billion on the WAEMU...