Bolloré Transport & Logistics has been named the Best Regional Cargo Logistics Provider at the East Africa Maritime Awards held on Friday 17th September at the Sarova Whitesands Hotel, Mombasa. The award seeks to recognize a Logistics Company in the East Africa Region that has demonstrated its ability to consistently contribute to the development and implementation of best practices in Global...

Initially scheduled for October 1, the eNaira will finally be launched on October 4. The announcement was recently made by Godwin Emefiele (pictured), governor of the Central Bank of Nigeria (CBN), in New York. The main reason for the rescheduling is the national holiday protests to be held on October 1. “The central bank would not want the event to take the shine away from the Independence...

The international community continues to push for the establishment of a democratic civilian-led government in Mali in scheduled time. The transitional government however said many challenges could lead to a rescheduling. The U.S. calls for the election of a democratic civilian government in Mali by April 2022. The announcement was made last September 23 by General Stephen Townsend, commander of...

A year after it was born from the merger between Atlanta and Sanad, AtlantaSanad Assurance has released its financial results for the six months ended June 30, 2021. The company posted a turnover of MAD3.02 billion ($335 million), up 4.6%. The performance was driven by the life segment which grew by 13.5% thanks to the recovery of the savings and pension activity. The non-life segment increased...

The M&A industry was particularly active in the MEA region (Middle East and Africa) during the first half of 2021; 457 deals were announced over the period, according to data from Capital IQ. This is the highest number of M&A deals in the region since 2018. Q2 2021 alone recorded 242 deals, up 207.2% compared to Q2 2020. This QoQ comparison is however diluted by two factors. First, the...

US satellite company Lynk has upstaged the UK’s airborne 5G masts by launching cell towers in space. This week Stratospheric Platforms reveals its plan to address the 5G UK market by broadcasting from planes. Lynk has moved up one level in the celestial stack with a low earth orbit (LEO) satellite that aims to bring connectivity to Africa. Lynk’s LEO satellites...

 “The world has the resources to end hunger,” African Development Bank president Dr. Akinwumi A. Adesina said in a message on the first day of the United Nations Food Systems Summit. Convened by UN Secretary General António Guterres, the event is billed by its organisers as “a historic opportunity to empower all people to leverage the power of food systems to drive our recovery from...

The African Development Bank Vice President for Agriculture, Human and Social Development, Beth Dunford, led a mission to Cote d’Ivoire’s capital Yamoussoukro, on 16 September to assess progress on a Bank-supported agro-industrial cluster in Bélier. The mission, that included Marie-Laure Akin Olugbade, Director General for West Africa and Bank Directors for Agriculture and Agroindustry as...

Alitheia IDF, a private equity fund dedicated to African SMEs, has led a $3 million Series A investment in ReelFruit, a Nigerian high-end dried fruit company. The agribusiness company will use the money to acquire a new factory, boost its dried fruit production and exports, and develop new products. “Alitheia IDF is proud to support ReelFruit's ongoing efforts to boost food production in...

The Board of Directors of the African Development Bank Group have approved a new policy framework for the Independent Recourse Mechanism (IRM) aimed at strengthening accountability and providing more effective recourse to people affected by Bank-financed operations. The policy framework is the result of a series of internal and public stakeholder consultations that began in December 2019. This...