BUSINESS

Ten start-ups from across Africa have been chosen for the Afro German Pitch Night at which the winner will walk away with €100,000 equity investment. The nominees were selected from the Deutsch Connect and Idea Seed Africa networks of start-ups.The final list of start-ups include five from Nigeria – namely, Agriple, Asusu, Chekkit, M.E Solutions and Rural Farmers Hub, and …

It has been observed that Africans are less likely to start their own businesses compared to other diaspora communities, such as Asians. A new initiative wants to change the situation by mentoring aspiring African entrepreneurs in Germany, providing them not only knowledge and skills training but also networking opportunities Deutsch Connect, a German-based Afrocentric startup that links African businesses to …

THE London-based Zimbabwe-born businessman Strive Masiyiwa has been named the United Kingdom’s first Black billionaire. He has been reported to be worth £1.087 billion. Masiyiwa is the first billionaire of African origin to be included on the Sunday Times Rich List – a ranking of the wealthiest people or families resident in the United Kingdom. The list is updated annuallyand …

German-based Afrocentric startup Deutsch Connect has secured a €100,000 investment fund in partnership with Idea Seed Africa. The “Deutsch – Africa Pitch” challenge is exclusively for Startups within the Deutsch Connect – Idea Seed Africa network in Agritech, Healthtech, Fintech, Digitalisation and Logistics offering up to €100,000 in equity investment to build and scale successful businesses that add value to …

Achare Takor*, a lawyer, takes a look at Section 124b of the General Tax Code of the Republic of Cameroon and how it sets to promote innovative ICT start-ups in the country by offering them incentives ————- DOUALA, Cameroon, May 13, 2021/ — By Achare Takor Over the last decade, information technologies (IT) have revolutionized the way people and businesses …

Nigerians in the diaspora have an opportunity to own houses in the country and also participate actively in money and capital markets, thanks to several investment packages rolled out by Ecobank. Mrs. Olukorede Demola-Adeniyi, Head of Ecobank’s Consumer Banking, has said that the bank is offering mortgage loans to Nigerians living abroad to finance property ownership in the country. She …

Ayoba is enjoying a busy 2021, with many upgrades and additions planned to its extensive list of features. The African Messaging App celebrates second birthday with 5.5m users and launches voice and video calling as well as web access CAPE TOWN, South Africa, May 4, 2021/ — Ayoba (www.ayoba.me), the African messaging app, has announced the launch of a new …

The recently released Knight Frank Africa Horizons Report 2021/22, ranked Nairobi as the top city in Africa for innovation, followed by Cape Town in second, Kampala third, with Cairo and Johannesburg at fourth and fifth place respectively. The report notes that the ability of African cities to emerge resilient from the pandemic will depend on their ability to innovate, providing long-term social …

Airtel Africa has appointed Segun Ogunsanya as its Managing Director/Chief Executive Officer (CEO). The development follows the retirement of Raghunath Mandava as the company’s MD and CEO. “Segun has more than 25 years business management experience in banking, consumer goods, and telecoms,” the telecom firm noted in a statement on Thursday. An electronics engineer, and a chartered account, Ogunsanya will …

NAIROBI, Kenya, April 29, 2021/ — With Kaspersky (africa.Kaspersky.com) research showing that stalkerware affected one out of every 100 mobile users in Kenya and Nigeria in 2020 and malware every four out of 100 in South Africa, consumers must remain vigilant when it comes to their online activities if they are to keep themselves safe from the growing threat of …

Pine Kazi, a women-led shoe design house based in Kenya, is the winner of Fashionomics Africa’s sustainable fashion competition. The fashion company, which converts pineapple leaf and recycled rubber into fashionable footwear, wins a $2,000 cash prize, access to media exposure opportunities, and mentorship and networking opportunities from competition collaborators. Fashionomics Africa is an initiative of the African Development Bank, …

The AfCFTA Secretariat and the UN Development Programme (UNDP) have signed a strategic partnership to promote trade as a stimulus for Africa’s socioeconomic recovery from the COVID-19 crisis, and as a driver of sustainable development particularly for women and youth in Africa, in line with the SDGs and Agenda 2063 common vison for the continent. The agreement was sealed yesterday by …

LAGOS, Nigeria, March 23, 2021/ — There is a common misconception that the most dangerous threats to encounter on modern users’ digital journeys are likely to appear during Internet surfing. The reality however, based on the most recent analysis of cyberattacks in South Africa, Kenya and Nigeria in 2020 by Kaspersky experts demonstrates that users are in fact more likely …

The Director General of World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has pledged that the organisation would assist African women entrepreneurs to improve their businesses. Okonjo-Iweala, who recently assumed office at the global organisation, gave the assurance during a visit to Nigeria’s Minister of Women Affairs, Mrs Pauline Tallen, on Wednesday in Abuja. She said the visit of the WTO …

The prestigious US magazine, Global Finance, specializing in financial markets and investment banking, has named the African Development Bank (AfDB) 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 combination …

The widespread insecurity in Nigeria is scaring away prospective investors. Speaking in Abuja on Tuesday, the Netherlands Ambassador to Nigeria, Harry van Djik, said the Nigerian government should address insecurity as this was a crucial factor that had been affecting investment in the country’s economy. Djik spoke during a visit to the Minister of Industry, Trade and Investment, Adeniyi Adebayo. …

The 11th edition of the Orange Social Venture Prize in Africa and the Middle East (POESAM) has been launched. PARIS, France, March 9, 2021/ — Tuesday 9 March 2021 marks the start of submissions to the 11th Orange Social Venture Prize in Africa and the Middle East. Until 4 June 2021, entrants will be able to submit their projects on …

ABIDJAN, Ivory Coast, February 24, 2021/ — Digital platforms in Africa should scale up to take advantage of the continent’s surging demand for creative content, said Africa Investment Forum Senior Director Chinelo Anohu, adding that the African Development Bank flagship entity is providing advisory services and investment support to creative players. The Africa Investment Forum was working to promote content …

In order to strengthen political dialogue and promote economic relations, Professor Robert Dussey, Minister of Foreign Affairs, African Integration and Togolese Abroad, held diplomatic talks on February 16, 2021 with his Russian counterpart, Foreign Minister Sergey Lavrov, in St. Petersburg. According to reports, Professor Dussey’s visit was on the invitation by Moscow, and came on exactly one year after their …

A look into the ban on cryptocurrency in Nigeria by Ibrahim Moshood and Oneyka Cindy Ojogbo, Associate and Senior Associate respectively of the international law firm Centurion Law Group In a letter dated 5 February 2021[1], the Nigerian government through its apex bank – the Central Bank of Nigeria (“CBN”) – clamped down on cryptocurrencies in Nigeria. The letter specifically …