Seedstar World recently announced that it will set a $100 million fund to support African startups in collaboration with Venture Growth, a venture capital based in Sub Sahara Africa. According to Seedstar financial manager’s statement relayed by Venture Burn, the first investments to be structured via this fund should be made this year and up to 40 startups will be supported. The fund...

Via Enterprise Incubator Foundation (EIF), Armenia signed a memorandum of agreement with Rwanda based Smart Africa Center for partnership in the IT, education and engineering sector.   The agreement was signed on April 7, 2019, during an official visit of the Armenian minister of foreign affairs Zohrab Mnatsakanyan (photo) in Rwanda. During the visit, he met Lacina Koné, managing director...

Broadband service provider Smile Communications Nigeria announced that it concluded an international data roaming agreement with NUU Mobile (HKG) Limited. Thanks to this agreement, Smile Communications’ partners can automatically access data services during their travel in more than 85 countries such as the USA, the UK, South Africa, Canada and Kenya.   According to Lotanna Anajemba,...

The independent analysis firm Alpha Mena has pegged a sell rating on BMCE Bank of Africa on the belief that it could record a significant loss in the future. The analysis firm explains that between 2019 and 2021, the scenario according to which BMCE Bank of Africa is unable to boost revenues and reduce expenses would continue. The consequence would be a decreasing net margin.   For the...

Egypt and Saudi Arabia signed, on April 8, 2019, two memorandums of understanding to develop smart solutions. These memorandums are the result of a working visit started on April 7, 2019, in Cairo by Saudi IT minister Abdullah bin Amer Alswaha. At the head of a delegation of high ranking officials, Abdullah bin Amer Alswaha met his Egyptian peer Amr Talaat. They discussed the improvement of...

Last week, Tunisia’s interim minister of health Sonia Ben Cheikh (photo) announced an TND80 million investment for the modernization of the country’s hospitals’ IT system.   This operation will help digitalize health records and support an enhanced follow-up with patients as well as better management of laboratories. It will also contribute to the development of telemedicine (the...

In Tanzania, 2018 tourism revenues rose by 7.13% year on year, the country’s prime minister Kassim Majaliwa (photo) indicated last week. According to official figures, these revenues reached $2.43 billion while in 2017 the sector generated $2.19 billion. This performance is due to a rise in tourist arrivals. Indeed, during the period under review, about 1.49 million tourists visited...

The European Union will provide €115.5 million to support projects in the Sahel zone, Neven Mimica (photo), the European Union Commissioner for International Cooperation and Development, indicated last week. The new financial support will be disbursed under the framework of the EU Emergency Trust Fund for Africa. It is divided into five new programmes and three complements to projects...

African Development Bank President Adesina, on Friday, pleaded for Africans to embrace technology, and governments to urgently move away from “investing in the jobs of the past, but rather in the jobs of the future. A future that is just around the corner.” Adesina was addressing a debate entitled: The New Tech Era: Job-killer or Job-creator? organised by Africa Report and Jeune Afrique...

President Macky Sall of Senegal has announced the appointment of Amadou Hott, Vice President for Power, Energy, Climate and Green Growth at the African Development Bank, as Minister of the Economy, Planning and International Partnerships. According to Dr. Akinwumi Adesina, President of the African Development Bank, "I am delighted with the announced appointment of Amadou Hott. He has done a...