Africa Archives - Page 107 of 108

NIGERIA ENTERS LEAGUE OF STEEL EXPORTERS

Posted on 24 October 2017 by Gambeta News

Nigeria soon to become an African steel export giant. The latest development in the steel industry is an indication that soon Nigeria’s steel industry would be the next sector to watch out for after its Cement Industry. The largest steel manufacturer in Nigeria, African Industries Group has started exporting its product to Morocco, Egypt and Ghana, and is looking forward to go beyond Africa. Chairman, African Industries Group, Raj Gupta, while speaking at the unveiling of the company’s export activities to…

Jumia launches lending programme to support SMEs

Posted on 24 October 2017 by Gambeta News

Jumia launches lending program to aid SMEs in Africa Jumia during an event tagged Jumia Black Friday Vendor Launch which was held in Nairobi announced a lending programme targeted to benefit Small and Medium-sized Enterprises (SME’s) which are critical to Gross Domestic Product (GDP) growth and employment sector of any country. The lending program was first launched in Kenya, but now have been rolled out to other Jumia markets in Nigeria, Egypt, Morocco and Ivory Coast….

ZIMBABWE – LACK OF FUNDING STALLS POWER GENERATION PROJECTS

Posted on 23 October 2017 by Gambeta News

Over 30 Power generation projects stalled for the past 10 years because of lack of funding. Power shortages in Zimbabwe had led the Government to open the power sector to private investors so as to complement the country’s integrated power generation and distribution company, ZESA holdings. Over 30 Independent Power Producers (IPPS) were given power generation licenses with a combined capacity to generate 5039 MW. According to Gloria Magombo, Zimbabwe’s Energy Regulatory Authority (ZERA) Chief Executive Officer,…

SOLARNOW SECURES US$6m DEBT FACILITY

Posted on 23 October 2017 by Gambeta News

Ugandan solar startup SolarNow, receives US$6 million debt facility to help expand business. SolarNow – a startup which sells solar systems to rural households and businesses in Uganda with a 24-month credit facility, have just secured a US$6 million facility from SunFunder. The facility which is SolarNow’s second structured asset finance instrument arranged by SunFunder is intended to help it reach more clients and expand access to pay-as-you-go (PAYG) solar power. According to Willem Nolens, SolarNow’s Chief Executive Officer (CEO),…

AFRICAN TRADE CENTRE TO BE CONSTRUCTED IN ZIMBABWE

Posted on 20 October 2017 by Gambeta News

Africa trade centre facility to be constructed in Zimbabwe to promote Afreximbank. The trade centre is to be constructed in Zimbabwe by the Africa Export-Import bank (Afreximbank) which will enable the centre to be transformed into an iconic business complexes with integrated one-stop trade services shop that will help in the creation of mini business parks for African trade. President of Africa Export-Import bank, Dr. Benedict Oramah; ”I am happy to note that Zimbabwe will be the first…

US$50bn NEEDED TO MAKE NIGERIA AVIATION HUB FOR WEST & CENTRAL AFRICA

Posted on 19 October 2017 by Gambeta News

Experts project US$50 billion in the next 30 years can make Nigeria the Aviation Hub for West and Central Africa. CEO of RTC Advisory Services and expert in the aviation industry, Opeyemi Agbaje, during a presentation at the Colloquium 2017, Vision 2050 for Aviation Industry held in Lagos said, for the Nigerian Aviation Industry to grow to what is obtained in other parts of the world, and to actualize the vision of been the aviation hub…

UBER WEST AFRICA GETS NEW GENERAL MANAGER

Posted on 18 October 2017 by Gambeta News

Lola Kassim have been appointed by the private hire company, Uber, as the new General Manager for West Africa. Lola who is a seasoned professional with over 10 years of global experience had recently worked with McKinsey and Company as a management consultant, who provided strategic business advice and helped the energy, public and financial services sectors in West and Southern Africa to achieve organisational and operational improvements. On the appointment Lola had this to say; “I am…

JUMIA FOOD APPOINTS NEW MANAGING DIRECTOR

Posted on 18 October 2017 by Gambeta News

Jumia Food appoints new Managing Director who is keen on improving customer experience. Jumia Food Kenya, the online food shopping and delivery company with over 200 restaurants in Nairobi and Mombasa that supplies variety of cuisines including Kenyan, Chinese, Indian, Thai etc., have just appointed Shreenal Ruparelia to take over from Duncan Muchangi as the new Managing Director of the company. The appointment of Shreenal who have a rich background in Management Consulting, Start-Ups and eCommerce gathered…

AFRICA SET TO BE POWERED BY OFF-GRID SOLAR SYSTEM

Posted on 11 October 2017 by Gambeta News

Off-grid solar system to reach a capacity of 3000mw in Africa and Asia countries by 2022. In the world now, solar is currently the fastest energy source and gradually making a major impact in Africa continents. According to a report from International Energy Agency that in the next five years, off-grid solar capacity in Africa will be tripled which is expected to bring about basic electricity services to almost 70-million more people in Asia and sub-Saharan Africa. According…

Kenya Airlines ranked number one in Africa

Posted on 11 October 201711 October 2017 by Gambeta News

Kenyan airlines have just been awarded Africa’s leading airline award again At the just concluded World travel awards held at an Africa Gala Ceremony in Kigali, Rwanda, the national carrier for Kenya, Kenya Airways was lauded as Africa’s leading airline. The flyer who is experiencing a U-turn after years of losses was awarded and announced as Africa’s leading Airline under the ‘Business Class’ category. The airline in a statement after winning the award said “We are very…

MTN Ghana CEO appointed as Regional Vice President

Posted on 9 October 2017 by Gambeta News

MTN Ghana CEO have been appointed as the new regional Vice president of the Southern and East Africa and Ghana (SEAGHA) Region. Mr Ebenezer Asante, Chief Executive Officer of MTN Ghana, on October 1, 2017 was appointed as the new Vice President (VP) of MTN Group’s altered Southern and East Africa and Ghana (SEAGHA) Region. The new SEAGHA Region includes the telecommunications operations in Ghana, Uganda, Rwanda, Zambia, South Sudan, Botswana and Swaziland, along with Internet Service Providers (ISPs)…

African Finance Corporation to fund Natural resources development across Africa

Posted on 9 October 20179 October 2017 by Gambeta News

AFC have set aside US$700m for the development of Africa’s Natural resources sector. At the 9th West and Central Africa (WACA) Mining Conference and Exhibitions, Begna Gebreyes , the Vice President, Investment, of African Finance Corporation (AFC) said, AFC will be making available about US$700 million for the development of the natural resources sector of the continent. In his statement he buttressed that for the socio-economic development of African countries, more infrastructure will be needed by resource extraction firms….

ZENITH BANK EXPANSION PLAN

Posted on 9 October 2017 by Gambeta News

Zenith bank chairman, jim ovia discusses the expansion plan of the bank, also had a talk on Nigeria and Africa economy. Zenith bank is in the UK and several African countries, including The Gambia, Sierra Leone, and so on. The bank stocks are traded on the London Stock Exchange. This shows the bank is rapidly expending worldwide. According to the chairman, ”Our UK subsidiary recently opened a branch in Dubai as part of our expansion…

GROWTH IN GHANA’S MANUFACTURING SECTOR

Posted on 5 October 2017 by Gambeta News

Ghana’s manufacturing sector experiencing growth as Government addresses major industry challenges. Ghana Statistical Service has just reported that the country’s manufacturing sector has recorded a 6.6% growth in quarter two(2) of 2017, this is a positive result when compared to 5.9% growth of quarter one (1). The manufacturing sector which is considered as one of the most auspicious sector of the country took a plummet in 2012 when growth dwindled from 28.4% in quarter one(1)…

GHANA GIRLS GETS ICT SKILLS EMPOWERMENT FROM SAMSUNG

Posted on 5 October 20175 October 2017 by Gambeta News

Samsung is trying to reduce gender gap on STEM through empowering Ghana girls with ICT skills. In Accra, 40 Samsung employees from their headquarters in south Korea have gathered to take part in the company’s week-long initiative, which has been carried out in partnership with Better World. Every year, Samsung employees tends to give their time and skills to an ideal which they feel will add value to one of the regions in which the company…

UGANDA REDUCES LENDING RATES TO 9.5%

Posted on 4 October 2017 by Gambeta News

Bank of Uganda reduces lending rates to 9.5%, to help boost private sector credit growth. Aiming at stimulating the economy and boosting private sector lending, Uganda’s Apex bank, Bank of Uganda have reduced the Central Bank Rate (CBR) from 10% to 9.5%. This reduction have been confirmed as the lowest the country have known since 2011, as the government targets stabilization of its market using short term interest rates. Here is a statement from the…

ZIMBABWE GETS US$7m AGRICULTURAL BOOST

Posted on 4 October 20174 October 2017 by Gambeta News

European Union (EU) to help revitalize dwindling Zimbabwean agricultural sector with US$ 7 million. Zimbabwe have been experiencing a consist shrink in its agricultural industry since it’s President, Robert Mugabe, handed over white farmers seized land to former liberation war fighters. Agriculture, been one of the major key players in most African economies, the European Union (EU) has agreed to provide a financial boost to the Zimbabwean Agricultural sector. This boost which is valued at US$7m…

Guinea Bissau reduces debt by 90%

Posted on 4 October 20174 October 2017 by Gambeta News

Support from ASLF helps Guinea Bissau reduce debt to Export-Import Bank of China (Exim Bank) by 90%. The African Legal Support Facility (ALSF) assisted the Guinea Bissau Government during an outstanding debt negotiation with China’s Export-Import Bank (Exim Bank) in Singapore. This assistance resulted to a series of settlement and debt-restructuring that saw both parties (i.e Guinea Bissau and Exim Bank) agreeing to a 90% reduction in the outstanding debt obligation. This reduction which have saved…

HYATT HOTEL TO BUILD NEW FACILITIES IN SIX AFRICA COUNTRIES

Posted on 4 October 2017 by Gambeta News

Hyatt hotel set to expand its business with the planned construction of six resort across Africa. Hyatt hotels and resort which is an american operator, franchiser of hotels, resorts, and vacation properties has announces plans to construct at least six resort in Africa before 2020. The listed countries include; Cameroon, Algeria and Senegal which will be the first three to be constructed before Morocco and Tanzania. The Initiative is expected to lead business growth and international travel on…

MINING ACTIVITIES COMMENCES IN GUINEA AFTER RIOTS

Posted on 27 September 201729 September 2017 by Gambeta News

Bauxite mining activities commences again in Guinea after dialogue with protesters. Protests and riots by enraged Guinean youths due to electricity cuts and lack of job and services had led to the halt of mining activities in the country, especially in the Guinea’s Boke region which is “home to two major companies that each produce about 15 million tonnes of the aluminium ore bauxite annually,” which makes up almost all of the country’s production. Mining…

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