The Kenyan government will earmark about $15.5 million to assist people with disabilities who are affected by the coronavirus pandemic. Peter Muchiri (pictured), the chairperson of the national council for people with disabilities (NCPWD), said the money will improve the livelihood of the beneficiaries. About $11 million of the amount will serve as a monthly allowance to support 30,000...

South Africa's Independent Communications Authority (Icasa) was ordered by the Supreme Court on Monday 8 March to suspend the sale of new telecom spectrum licenses for ultra-fast broadband initiated in October 2020. The South African court took into account the opinion of the operator Telkom, which has consistently questioned the fairness of the process. Aware of the impact of the court’s...

South African insurance group Liberty Holdings said it wants to strengthen its footprint in its Kenyan subsidiary. From 57.7% (309 million ordinary shares), the company wants to increase its stake in Liberty Kenya Holdings to 73.5%. Under this plan, Liberty Holdings has proposed to purchase the 49.5 million ordinary shares held by the Conrad Hilton Foundation, which is managed by the Kimberlite...

Six of the eleven banks listed on the Nairobi Securities Exchange have announced, since January 2021, a sharp decline year-on-year in their net profits for FY2020. Due to this situation, there is a risk that dividends will not be distributed for the year under review, the banks said. In 2020, Kenyan banks experienced a slowdown in activity and therefore in demands for credit, mainly due to the...

On 26 February 2021, Bolloré Transport & Logistics Côte d’Ivoire successfully completed the runway pick-up, customs clearance and delivery of over 500,000 vaccine doses and syringes as part of the Covid-19 vaccination campaign in Côte d’Ivoire. Mandated by UNICEF, the Bolloré Transport & Logistics teams rolled out logistics solutions right from the landing of the plane at the...

The prestigious U.S. magazine, Global Finance, specializing in financial markets and investment banking, has named the African Development Bank as the “Best Multilateral Financial Institution in the world for 2021”.  The award is a global recognition for the path breaking efforts of the African Development Bank as it transforms itself into a solutions bank for Africa, through a...

Telecel Global Services (TGS), established in 2017, is a B2B/B2G provider with Voice, Data, SMS, SMS Firewall and integrated cybersecurity services serving Network Operators, OTT’s and Wholesale Operators globally. K3 Liberia Telecom, established in 2014, is Liberia’s largest licensed ISP specializing in the deployment of fixed wireless technology to deliver voice, data, cloud hosting and...

Moroccan financial group Banque Centrale Populaire's net profit has suffered a decline by 67% from MAD3.8 billion in FY2019 to MAD1.28 billion ($141.7 million) in FY2020. In terms of operations, performance remained almost stable, with slightly higher interest, commission, and trading income margins. The group’s net banking income (equivalent to revenues) rose to MAD 19.3 billion, up 8.3%...

The Central Bank of Nigeria (CBN) has set several incentive measures to increase the inflows of the US dollar into the local economy. In a document published last March 5, the Bank said it will grant rewards to citizens that receive remittances via the formal system. According to the document, the “Naira 4 dollars scheme” will start today March 8, and last until May 8. During this period,...

Morocco announced on March 5 it has suspended air links with Egypt and Algeria. The ban, in force for an initial period of 3 weeks, follows the resurgence, in the kingdom, of cases of infection with the new variants of Covid-19. This new measure brings to 20 the number of countries to which Morocco has closed its borders since mid-December 2020. Belgium and Italy were added on March 2, joining...