Peter Ndegwa (pictured), CEO of mobile operator Safaricom, confirmed his company’s ambition to enter the Ethiopian market in mid-2022, despite the risk of political instability in the country. He revealed this on Tuesday 9 November during the presentation of the telecom company's H1 financial results. We are looking forward to launching commercial operations as projected, while cognizant of...

Russian Foreign Minister Sergey Lavrov reiterated his country’s commitment to supporting the ongoing effort of Malian authorities to restore peace on their territory. This was during a joint press conference held yesterday in Moscow between him and his Malian counterpart Abdoulaye Diop.  “We agreed to strengthen the political dialog, which is proceeding very positively. My counterpart...

SouthBridge, the pan-African investment bank led by Donald Kaberuka and Lionel Zinsou, is pleased to announce the cooptation of Emeryc Kpenou as Partner. Beninese, French and British, drawing on a rich international background, Emeryc now wishes to bring his experience to projects that directly involve the future of the African continent. A graduate of Sciences Po Paris, Emeryc started his...

Yesterday, Mozambican President Filipe Nyusi sacked his Defense Minister Jaime Neto (pictured). "The President of the Republic, Filipe Jacinto Nyusi, has dismissed by presidential order Jaime Bessa Augusto Neto from his position as Minister of National Defense," an official statement from the government reads. However, no details were provided on the reasons behind this decision, which comes in a...

The United Nations Children's Fund (Unicef) and the Kinshasa Digital Academy announced yesterday the signing of a partnership to train Congolese youths in digital skills. As part of this program, they launched the "Generation Unlimited" (GenU) initiative to ensure that 10 million young students aged 10 to 24 “are in school, learning remotely, benefitting from an alternative learning...

Egypt and China reached a new agreement to reinforce their collaboration. The deal will see China finance many development projects in the African country. Targeted projects include the Egyptian satellite project "Misr Sat II”, and the Satellite Assembly, Integration and Test Center (AITC). The partners will also establish a vocational training center in the Suez Canal Authority Economic Zone,...

The government of Benin unveiled the strategy it has set to finance the agriculture sector from 2021 to 2030. The plan was revealed during the Ministers’ Council held yesterday November 10. This roadmap aims to help all players in the various agricultural value chains access financial services. In Benin, like in most African countries, accessing financing is a headache. According to the...

After it entered the Nigerian market last October, MFS Africa announced major fundraising to support its expansion across the continent. The fintech seeks to enter new markets and strengthen its staff. The digital payments platform MFS Africa announced it has raised $100 million in a Series C round to pursue its activity in the region; $70 million of the amount was raised in the form...

Since the coup in September, Guinea has engaged in a transition process under pressure from the ECOWAS. At the end of a summit held on November 7, the institution decided to maintain sanctions against the country and appoint Mohamed Ibn Chambas as its special envoy. In a letter sent this week to Ghanaian President Nana Akuffo-Addo, current chairman of ECOWAS, Colonel Mamady Doumbouya (pictured)...

Egyptian delivery startup Rabbit announced it has raised $11 million in pre-seed financing. The company co-founded by Walid Shabana, Ismail Hafez and Tarek El Geresy secured its first financing round just a month after its launch. The money was gathered from international investors including Global Founders Capital, Foundation Ventures, Raed Ventures, MSA Capital, and Goodwater...