The asset management department of the National Bank of Kenya (NBK) generated Ksh2.5 billion between 2015 and 2019, some Kenyan media indicated. However, there is no detail about how the department generated such volume. Let’s note that NBK is not the only bank to show some interest in its premium clients. In 2018, the local subsidiary of Standard Chartered Bank also opened premium agencies...

Private equity fundraising in Africa culminated to about $905 million in February 2019. French fund manager Amethis Finance was the leader with  €305 million ($347 million) for the first closing of its Amethis Fund II. The other major fundraisings were announced by Investisseurs & Partenaires ($85.3 million), Partech ($142 million), SunFund ($87 million), as well as South...

Rwanda will bring satellite internet to schools in remote areas in the framework of its ambition to let Rwandans take advantage of the opportunities offered by internet in learning and socio-economic development. In that regard, it will rely on Oneweb’s satellite launched on February 27, 2019. The first school to access this satellite internet is St Pierre Nkombo secondary school. According...

The UNCTAD will provide technical assistance to Côte d’Ivoire for the elaboration of a national investment policy. In that regard, the UN institution visited Abidjan this week for bilateral meetings with public and private institutions and many actors of the Ivorian economy to discuss some investment-related issues. According to Chantal Dupasquier, Chief of the UNCTAD’s Policy Reviews...

More than XOF800 billion ($1.4 billion) will be invested to extend and modernize Abidjan’s autonomous port in Côte d’Ivoire by 2020, the prime minister Amadou Gon Coulibaly indicates.   In the framework of that project, Vridi canal inaugurated last February 21 has been resized. The infrastructure is estimated at $255,575,018 (about XOF150 billion), 85% funded by Eximbank China and...

East African governors of the African Development Bank on Wednesday commended the institution for approving transformative projects valued at $13.8 billion since 2010.  The projects in ICT, education, public finance, energy, transport, water and sanitation sectors, make the institution “a trusted partner for delivering innovative solutions” the governors noted during consultative...

Safaricom, leader of the Kenyan telecom market, announces the launch of a 400 G network, a network that carries data on a rate of 400 Gps wavelength in the country. The new standard in optical network will help the company address the development of bandwidth needs due to increasing data consumption via new usages like HD video, telepresence and cloud services that require high...

The African Legal Support Facility has completed a two-day workshop for African lawyers and government negotiators, aimed at strengthening their capacity to negotiate complex deals involving investments in key economic sectors. The workshop, co-organized with the African Business Law Firms Association (ABFLA) under the African Legal Support Facility Academy, was held in Accra, Ghana, from 14-15...

During the second extraordinary meeting of its cabinet, Gambia decided to reorganize its incumbent operator Gamcel. This decision was taken following the joint recommendations of the IT and finance ministers Ebrima Sillah and Mamburay Njie, in a report. Under this reorganization project, the mobile branch of incumbent operator Gamtel will be reorganized and state-owned shares sold.   This...

February 28, 2019, is a good/bad day for Nigerian billionaire Aliko Dangote. Today, Bloomberg ranked him higher in the world ranking of wealthiest men. His wealth rose by $6.5 billion to $16.5 billion taking him a step further from his African follower, Mike Adenuga, the discreet head of telecom operator Globalcom.  Another good news is that currently, Dangote Cement, which is...