Vice president of the republic, Mahamudu Bawumia says there is a need for smart investment in Africa in critical situations. At the official opening of the Africa Prosperity Dialogues at the Safari Valley Resort at Adukrom, he said Africans need to produce and find their way out of poverty and underdevelopment investing in smart infrastructure
In 2021, Angola emerged from five years of recession. The business environment in Angola records significant improvements since 2018, becoming a key factor to attract new investments and the return of big multinational companies. Furthermore, earlier this year Nigeria lost its crown as Africa’s largest crude producer as Angola surpassed the country for the first
In an effort to develop human capital in the African banking sector, the training arm of the Central Bank of Egypt, the Egyptian Banking Institute (EBI) has successfully launched the first round of its EBI executive programme for the African banking sector. The programme aims at developing the executive leadership talents and competencies as well
Yabx, a fintech venture headquartered at Netherlands, has announced plans to commence business operations in Nigeria, with a mission to democratise credit across the country with its digital lending offerings. According to a World Bank Report, the private credit bureau coverage in Nigeria was 13.9% in 2019. The numbers must have improved post pandemic but
Dangote tops the chart as Africa’s richest man in October,2022, and he is the only African on the list not below the 200th position. According to Bloomberg, Africa’s wealthiest men remain unchanged while there has been a change in their fortunes in October 2022. For context, the world’s richest man has been reported to have
The total agriculture insurance market value in Africa in 2021 was $390 million even as the total agric insurance market value climbed to $45.5 billion, the Agric manager, Africa Reinsurance Corporation (Africa Re), Mr. Isaac Magina, said recently. This is even as the insurance companies underwriting risks in the agricultural sector of the nation’s economy
An online marketplace for Africa’s food businesses, Vendease hasc announced that it has raised $30 million in an equity and debt funding round to consolidate its growth and operations in Nigeria and Ghana, and to support its expansion across the continent. The series A equity round of $20 million was co-led by TLcom and Partech, in
U.S. International Development Finance Corporation (DFC) has announced the first disbursement of $83 million of its up to $300 million loan to Africa Data Centres, a key investment advancing the Biden Administration’s Partnership for Global Infrastructure and Investment. Africa Data Centres is Africa’s largest network of interconnected data facilities, which power, cool, secure and connect
The United Bank for Africa has announced that it has concluded plan to commemorate the fourth anniversary of its flagship artificial intelligence Chabot, with new offerings set to further change the face of digital banking in Nigeria. To further extend its reach, UBA said it has concluded plans to commence Leo services on Instagram and
Mobile transacting is fast becoming the golden egg of financial services – and nowhere more so than in Africa. According to the Global System for Mobile Communications’ (GSMA) 2021 State of the Industry Report on Mobile Money, the number of registered mobile money accounts grew by 12.7% globally in 2021 to 1.21 billion accounts –
