The e-commerce giant Jumia is seeking collaboration with Chinese suppliers to increase its revenues. In an interview with Xinhua on October 15, Sam Chappatte, CEO of Jumia Kenya, said "Chinese companies offer very relevant products for African consumers because they are affordable and of good quality. This was on the sidelines of the launch of the Africa Food Index, a publication that shows...

The American company Stripe announced on October 15, the conclusion of an agreement to acquire the Nigerian online payment platform Paystack. The amount of the transaction was not disclosed. However, media quoting officials from both companies assure that the deal was concluded for more than $200 million. Stripe is a technology company that develops payment tools for its customer base made...

The government of South Sudan has finally discarded its plan to change the local currency. The information was reported this week by the Information Minister Michael Makuei Lueth (pictured). “The change of the national currency was proposed at the previous cabinet meeting as one of the long-term economic measures, but it was not accepted and adopted by the council,” the minister said. When...

The development of the National Transport Data Bank in Nigeria is one of the priority investments in the 2021 budget, the bill for which was recently submitted to the National Assembly. According to the Minister of Finance and Budget Zainab Shamsuna Ahmed (pictured), 1.51 billion naira ($4 million) will be allocated for the development of the database. Created by a multidisciplinary team of...

Congo Terminal, the concessionary of the container terminal at the Port of Pointe-Noire, has taken delivery of two new RTG yard gantries. With a 40-tonne lifting capacity, the new equipment will boost the container storage capacities of the yards and help to improve flows across all operations. Financed by Congo Terminal to the tune of 2.6 billion CFA francs (€4 million), the two yard...

Afrione's mobile phone assembly plant, located in the Luanda-Bengo Special Economic Zone, has officially started operations. The infrastructure was inaugurated by the President of the Republic João Lourenço, on October 14, 2020, in the presence of Manuel Homem the Minister of Telecommunications, Information Technology, and Social Communication. Resulting from an equity investment of...

In sub-Saharan Africa, investment banking activities experienced the worst quarter for years between July and September 2020, according to Refinitiv, a subsidiary of the British media company Reuters. Revenues for the sector reached $40.9 million in Q3 2020, representing half the performance of the second quarter. It is also the worst level since 2005. For the first nine months of the...

Standard Bank plans to strengthen its digital banking services to maintain its leading position in the fintech environment. Africa's largest bank by assets fears the erosion of its customer base due to stiff competition from financial technology companies that are entering the market. To stay ahead of the fintechs seeking opportunities on the continent, the South African banking group plans to...

China now holds 63% of poor countries’ debt to the G20. The information was revealed this week by the World Bank in its new International Debt Statistics (IDS) report. According to the institution, the Chinese share in the debt has been steadily increasing in recent years. In 2013, it was only 45% and this figure was already considered at the time as a fairly high level for a country that...

By Nafissatou N’diaye Diouf, Acting Director, Communication and External Relations, at the African Development Bank Group The sight of David Beasley, in a recent tweet, sitting on the floor of the World Food Programme (WFP) office in Niger surrounded by staff, celebrating a well-deserved Nobel peace prize win, brought back memories of Nasseiba Ali. I was on assignment for the Associated Press...