NEWS

Hyundai Opens New Dream Centre in Kenya

Hyundai Motor opened its newest Hyundai Dream Centre — an automotive training and educational facility — in Kenya. The new Dream Centre is the seventh global institute established by Hyundai Motor,…

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Uganda to Construct 25 Industrial Parks Across the Country

25 Industrial parks are set to be constructed across Uganda. This follows a partnership agreement inked between Uganda Investment Authority (UIA) and Uganda Peoples Defence Forces (UPDF) over the…

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Rwanda Signs International Convention on Tax Matters

Rwanda this week became a signatory to the Convention on Mutual Administrative Assistance in Tax Matters (MAAC). The treaty is a commitment by Rwanda to comply with international standards from the…

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DRC: Clean-Seas to Generate Electricity From Plastic Waste via Pyrolysis

Clean-Seas, a provider of waste management technology solutions, have been selected to build a waste-to-energy plastics plant using pyrolysis technology in Kinshasa, the capital of the Democratic…

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Siemens Gamesa Installs First Turbine in Djibouti

Siemens Gamesa has installed its first ever turbine in the African country of Djibouti at the 59MW Goubet wind farm. Goubet, which is located on 395 hectares in the Arta region close to Lake Assal,…

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Mango House Seychelles Becomes Hilton’s 4th Island Property – 2 More On the Way

Mango Home Seychelles is the fourth tourism institution to open in Seychelles below the Hilton lodge and resort world model, whereas the development of two extra have began, stated a lodge official.…

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UAE fund unveils Sh3.5bn investment deal in Kenya

The Khalifa Fund for Enterprise Development (KFED), which is backed by the government of the Emirate of Abu Dhabi has announced its first investment in Kenya to the tune of $30 million (Sh3.57…

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Djibouti bank acquires Ugandan entity in expansion move

Salaam African Bank (SAB) headquartered in Djibouti has acquired Top Finance Bank Limited in Uganda in an expansion move, Uganda’s central bank, Bank of Uganda, said Monday.  Bank of Uganda in a…

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GV Developments, Amarenco Solarize sign agreement to invest $255m in Tarboul City’s infrastructure

GV Developments — the master developer of Tarboul City — announced that it signed an agreement with Amarenco Solarize Egypt, whereby the French giant will invest an initial amount of $255m in…

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Malawi launches Agribusiness Deal Room 

Stakeholders in Malawi’s agriculture sector, including government representatives and private players, on Wednesday August 3, 2022 gathered in the country’s capital, Lilongwe, to launch the Malawi…

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Emirates announces third daily flight to Mauritius

Emirates has announced plans to add a third-daily flight to Mauritius starting Oct. 1, 2022, a statement on state-run news agency WAM said.   The plans to increase the frequency of flights to…

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German Manufacturer Stihl Group Picks Kenya As East African Hub

German outdoor power tools manufacturer The Stihl  Group is set to establish its East African hub in Kenya. The subsidiary dubbed Stihl East Africa will be servicing clients in Kenya, Uganda,…

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Urbnlanes Developments invests EGP 11bn in Egypt’s real estate market

Urbnlanes Developments — a real estate development company under the Kuwaiti Emeel Abdallah Investments — intends to expand in the Egyptian market by directing investments of EGP 11bn into three real…

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Kenya’s iProcure closes $10.2m Series B to digitize rural supply chains in Kenya and beyond

Kenya’s iProcure, a startup offering agricultural inputs and digital supply chain solutions in rural Africa, has announced the closure of its $10.2 million Series B round.   The investment was in…

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Egypt signs $500m Suez Canal deal with Maersk, discusses $800m port investment

The Suez Canal Authority has signed a deal worth $500m with Danish shipping company Maersk to build a berth at East Port Said, business news site Zawya reports.   The project will add a 1km-long dock…

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UK’s TuNur to invest $1.5 bln in a solar power plant in Tunisia -agency

UK's renewable energy developer TuNur plans to invest $1.5 billion in building an export-oriented solar power plant in Tunisia with a capacity of 500 megawatts, Tunisian state news agency TAP said on…

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Nokia International, Etisal sign agreement to manufacture Nokia phones in Egypt

Minister of Communications and Information Technology Amr Talaat witnessed the signing of a cooperation agreement between HMD International — the owner of Nokia — and Etisal for Advanced Industries…

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Danube Home set to open its first showroom in Mauritius

Danube Home International, the global franchise division of interior décor and home improvement division of Danube Group, on Thursday signed a master franchise agreement with Hyvec Group, a major…

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ITIDA, Valeo sign MoU to increase software exports from Egypt

Minister of Communications and Information Technology Amr Talaat witnessed the signing of a memorandum of understanding (MoU) between the Information Technology Industry Development Agency (ITIDA)…

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Tanzania, Zambia agree to upgrade Tazara to SGR level

Tanzania and Zambia yesterday resolved to revamp the railway line that connects the two countries as part of their measures to improve bilateral ties.  – the bi-national railway linking the Southern…

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Tunisia, Algeria sign agreement to develop tourism in both countries

Tunisia and Algeria signed an agreement to develop bilateral cooperation in tourism, at the end of the 5th session of the Tunisian-Algerian sectoral tourism commission held Wednesday in Tunis.  The…

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Kenyan insurtech Lami raises $3.7M seed extension led by Harlem Capital

Right from the launch of its first product in 2020, Kenyan insurtech Lami Technologies set out to increase insurance penetration in Kenya and the rest of Africa. It began on this path by building and…

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Kenya commences shipment of fresh avocados to Chinese market

The first batch of fresh avocados grown in Kenya and destined for the Chinese market was flagged off Tuesday at a ceremony attended by senior government officials, diplomats, and industry……

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Kenya Power to set up electric car charging hubs September

Kenya Power will, from next month, start constructing electric charging systems for homes, businesses and the public across the country as the shift to clean transport gathers momentum.  The…

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Egypt’s Infinity to become Africa’s largest renewable energy company

Egypt’s Infinity Group will become Africa’s largest renewable energy company when it, along with Africa Finance Corporation, acquires Lekela Power in an undisclosed deal that is expected to close…

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Zimbabwe President Emmerson Mnangagwa launches US$500mln Zim Cyber City by UAE investor Mulk Int’l

UAE’s Mulk International breaks ground to develop the 2.5 million square feet Zimbabwe Cyber City that will be a game-changer for the African country as it seeks to develop its economy with foreign…

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Italian Firm Eni Commences Production Of First Kenyan Vegetable Oil

Italian multinational oil and gas company, Eni has commenced production of the first Kenyan vegetable oil for bio-refineries at its oilseed collection and pressing plant in Makueni.  The agrihub will…

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Kenyan construction tech startup Jumba raises $1m pre-seed round

Kenya’s Jumba, a tech startup working to rationalise the construction supply chain in Africa, has raised a US$1 million pre-seed funding round to build a digital business-to-business platform for the…

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IFC to invest 35 mln USD in Zambia’s largest agri-business firm

The International Finance Corporation (IFC), a financing arm of the World Bank, will invest 35 million U.S. dollars for boosting food production and processing capacities in Zambeef Products Plc,…

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In Nairobi, two TotalEnergies stations will collect electronic waste

With Kenya generating 3,000 tonnes of electronic waste every year, TotalEnergies' Ngong Road and Gigiri service stations will collect used appliances from households in the capital Nairobi. The…

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Democratic Republic of Congo Becomes the 7th Member of EAC

After several negotiations, Democratic Republic of Congo (DRC) has finally become a full-fledged member of the East African Community. The EAC was established in 1967, as an inter-governmental…

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Egypt and UK ministers launch new association council in London

The UK’s Foreign Secretary Liz Truss and her Egyptian counterpart have signed a joint statement of intent to reform renewable energy regulations at the launch in London of a new platform to develop…

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Malawi: Illovo registers K9.2bn profit

Illovo Sugar Malawi Plc has registered a K9.2 billion net profit after tax in the first half of 2022, representing a 51 percent profit increase.  This is according to the company’s Managing Director…

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Kenya, Seychelles sign ten cooperation agreements

Kenya and Seychelles on Monday signed ten cooperation agreements following high-level talks led by Kenyan President Uhuru Kenyatta and his Seychellois counterpart Wavel Ramkalawan in Victoria.  The…

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Egypt, Brazil To Boost Trade In Textile And Other Sectors

Egypt is actively engaged with Brazil to boost biliteral trade in various sectors including textiles. The free trade agreement (FTA) between Egypt and the Mercosur countries (Argentina, Brazil,…

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70 locally produced electric buses to run in Cairo from October

As part of its climate policy, the Egyptian government will put 70 electric buses on the road in the governorate of Cairo. These locally manufactured vehicles will serve the population while…

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MoU signed to strengthen collaboration between Somalia and Rwanda

The last three decades have been particularly difficult for Somalia. Since the 2012 establishment of the Federal Government of Somalia, a number of structural reforms have been put in place to boost…

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Kinshasa enters shipping business, set to rock EA boats

A vessel docks at the port of Dar es Salaam. The DR Congo says it has obtained yard spaces in Mombasa and Dar es Salaam to roll out offices for its new shipping line, The Lignes Maritimes…

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Djibouti becomes 10th member of Digital Cooperation Organization

Saudi initiative aims to promote social prosperity through more inclusive participation and growth across the digital economy RIYADH: Djibouti has officially joined the membership of the Digital…

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TIA develops 39-measure roadmap to boost investment

(TAP) - The Tunisian Investment Authority (TIA) has developed a roadmap 39 measures based on a consultation between the public and private sectors to boost investment in Tunisia. This roadmap will be…

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Kenya-based aquaculture tech Victory Farms nets $5M funding to expand into new markets

Victory Farms, an aquaculture startup and farm for tilapia fish comprising hatcheries, nursery ponds and deep-water cages, has raised $5 million in new funding. The investment was led by Ed Brakeman,…

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World’s longest subsea cable lands in Djibouti, East Africa

Meta's 2Africa subsea cable has landed in Djibouti City, Djibouti. Djibouti Telecom announced on 13 May that the country’s 9th subsea cable, which is 45,000 km long, had landed in the capital. At…

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Kenyan Software Startup Bamba Secures $3.2M Seed Funding

Enterprise software startup Bamba secured $3.2 million in a seed funding round led by 468 Capital with participation from Presight Ventures, Jigsaw VC and angel investors Mato Peric, Leonard…

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Egypt’s Instabug raises $46m Series B to build expand product capabilities

Egyptian startup Instabug, a mobile monitoring, crash and bug reporting solution for mobile teams, has raised US$46 million in Series B funding to add to its product and build what it says will be…

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Egyptian IT firm Benya to establish investment arm in Saudi Arabia next month

RIYADH: Egyptian Information and communications technology provider Benya Group is planning to establish an investment arm in Saudi Arabia by the end of this year, according to a report published in…

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Egypt Investing $40Bn To Green Hydrogen Projects

Egypt’s pipeline for green hydrogen projects stands at 11.62 gigawatts (GW), equivalent to over 1.57 million tons of green hydrogen, ranking the country in the top three green hydrogen pipelines…

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Rwandan startup listed among World Economic Forum’s Technology Pioneers of 2022

The World Economic Forum (WEF) has unveiled a list of 100 innovative tech startups for its 2022 Technology Pioneers cohort which include a Rwandan firm, Ampersand. According to WEF, the Technology…

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Orange to complete first phase of NAC data centre next month

Hisham Mahran — Chief Enterprise Line Business Officer in Orange Egypt — said in remarks on Sunday that the company will finish implementing the first phase of a data centre in the New Administrative…

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Egypt’s SCZONE signs USD 10bn in investment pacts with intl consortia

May 16 (Renewables Now) - The sum of the potential green fuel investments that could be made under pacts signed recently by the Suez Canal Economic Zone (SCZONE) has reached USD 10 billion (EUR…

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DRC State-owned shipping line to set base in Mombasa

A shipping line from the Democratic Republic of Congo plans to start its operations from Mombasa beginning June this year. The state-owned shipping line, the Lignes Maritimes Congolaises (LMC) seeks…

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Kenya Emerges Top With Most Innovative Companies in Africa

Kenya has once again shown its prowess in the technology industry after trouncing all its continental peers, proving it has the most competitive environment for start ups. On Tuesday, May 10, the…

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Italian company Calzedonia to install two industrial units in Zriba and Sahline

(TAP) - Italian textile and clothing manufacturer Calzedonia plans to invest in Tunisia by launching, initially, two industrial units in the delegations of Zriba (Zaghouan) and Sahline (Monastir)…

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Emirates reaffirms partnership with Mauritius

Emirates reaffirms partnership with Mauritius in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline Emirates has reaffirmed its partnership…

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Rwanda and Alibaba launch the first Electronic World Trade Platform hub in Africa

The government of Rwanda and Alibaba have come together to establish the first Electronic World trade Platform hub in Africa. The agreement will strengthen economic development and digital economy of…

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World class technology for E260M Lavumisa solar plant

Mbabane – Eswatini Electricity Company invested E260 million on a well-equipped solar power plant at Lavumisa in the quest to combat the thorny issue of energy insufficiency in Eswatini. The solar…

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KCB opens new subsidiary in Rwanda after merger

KCB Group is banking on its new subsidiary BPR Bank Plc Rwanda to more than double its regional business in the next two years and support economic expansion in the East African country. KCB said…

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Trade Ties – Zambia and DRC Sign Cooperation Agreement to Manufacture Electric Batteries

The Cooperation Agreement is expected to provide a framework for bilateral cooperation on the initiative to develop the battery value chain as well as strengthen collaboration between Zambia and……

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Foreign investment in Tunisia up 73 pct in first quarter

Foreign investments in Tunisia rose by 73 percent in the first three months of 2022 compared to the same period a year earlier, the Foreign Investment Promotion Agency reported, according to…

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Zambia and Namibian Govt to sign MOU for gas, oil pipeline construction

The Zambian and Namibian governments are next month expected to sign a Memorandum of Understanding for the construction of a Gas and Oil pipeline from Windhoek into Lusaka. Energy Minister Peter…

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Thai Union to invest another €10m in tuna cannery in Seychelles

(Seychelles News Agency) - Thai Union is planning to invest another 10 million euros in the Indian Ocean Tuna (IOT) canning factory in Seychelles in the next two years, said a top official of the…

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Econet Extends 5g Coverage

Econet Wireless Zimbabwe, the country's largest mobile network operator, last week extended its national 5G network to the southern region, by launching the service in Bulawayo. The new network,…

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Kenya to host Amazon cloud services hub

Amazon Web Services (AWS) has announced plans to set up a hub in Kenya to bolster the American technology giant's grip on the lucrative data hosting market. The AWS Local Zone will join 16 other…

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GreenYellow completes the extension of the Ambatolampy solar power plant

The French company GreenYellow, a subsidiary of the Casino Group, has announced the completion of the extension of the Ambatolampy solar power plant. This installation is the result of a partnership…

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Zambia starts mass export of avocados to Europe

Zambia has started the mass export of avocados to Europe with the first consignment of over 37 tons, a senior government official said Friday. The commencement of export came after the southern…

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Zambia, Angola strengthens bilateral ties

Zambia and Angola have signed an addendum to operationalise the Bilateral Trade Agreement that was signed in 2016. The Agreement will see an enhancement of trade and economic relations between the…

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Egypt infrastructure startup Pylon raises $19m seed round

Egypt-based water and electricity infrastructure management startup, Pylon, has raised a $19 million seed round, in a mix of equity and debt led by investment firm, Endure Capital. Pylon uses smart…

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New plant to treat wastewater in Kakamega County

A new sanitation project is starting in Kakamega County, Kenya. It involves the construction of a wastewater treatment plant in the town of Mumias at a total cost of 17.2 million Kenyan shillings…

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Zambia will start exporting an additional 80 MW of electricity to Namibia

Zambia will start exporting an additional 80 MW of electricity to Namibia following an agreement signed by the utility companies of the two countries on Tuesday in Lusaka Zambia's Zesco Limited and…

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FIPA and Promos Italia ink agreement to boost Italian investments in Tunisia

(TAP)-The Investment in Tunisia (FIPA-Tunisia) and Promos Italia on Monday in Milan, inked a memorandum of understanding to boost the Italian companies' investments in Tunisia, the agency said on…

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The Italian company Vitalfarco intends to set up shortly a manufacturing plant for hairdressing products in Ben Arous

It will launch its activities during this year, announced its owner Luca Messinese, according to an Invest in Tunisia (FIPA-Tunisia) press release issued Tuesday. Receiving on Monday FIPA Director…

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Egypt’s Paymob to Start Pakistan Operation to Tap Growing Market

Egypt’s digital payments provider Paymob plans to start its operations in Pakistan this month, taking advantage of a market that has seen a funding frenzy in its startups. The Cairo-based company,…

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IFC to invest $15 mln to support start-up ecosystem in Egypt

The International Finance Corporation (IFC) — a World Bank Group member — is set to invest $15 million in the second fund from venture capital firm Algebra Ventures with the aim of supporting tech…

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$350 million in funding for farmers’ climate resilience

The government of Rwanda has announced the release of $350 million to support farmers' resilience to climate change. The funding will be used to purchase modern crop irrigation technologies. The $350…

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52 ZAMBIAN BUSINESSES IN DRC FOR TRADE:

The first cohort of over 52 representatives of Zambian companies has arrived in the Democratic Republic of Congo (DRC) ready to talk business with their Congolese business counterparts. The…

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Frazium Energy inks deal for 100-MW solar park in Eswatini

Australian renewable power producer Frazium Energy has inked a deal with the government of Eswatini, also known as Swaziland, to build a 100-MW solar park in the South African Kingdom. The…

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Kenyan fintech Asante announces $7.5m Series A funding for pan-African expansion

Kenya-based fintech startup Asante has announced a US$7.5 million Series A investment to help its credit offerings to a host of African countries. Asante has developed a digital lending platform that…

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Egypt’s ILLA raises $2M to diversify its offerings to FMCG value chain:

Most FMCG brands rely on a combination of owned and outsourced assets to carry out delivery operations. The variety of both models brings about a fragmented logistics cycle and FMCGs can lose…

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Indian car rental platform Zoomcar to invest $25mln in Egypt:

Zoomcar, the largest car-sharing marketplace covering emerging markets and dominating the self-drive car rental market in India, announced the launch of its operations in Egypt as part of its plan to…

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Rwanda, Luxembourg pact to boost financial centre ambitions

Kigali International Financial Centre development ambitions received a boost this week as Rwanda and Luxembourg signed a bilateral cooperation agreement with the aim to support Rwanda in further…

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Egypt signs deal with Nokia to build IoT infrastructure

Egyptian Minister of Communications and IT Amr Talaat oversaw the signing of a deal between Telecom Egypt and Nokia International to build Internet of Things infrastructure in the country. The…

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Caltex Starts Manufacturing Local Lubricants In Kenya:

FAL Manufacturing Limited (AML), which is owned by Tristar Group, has officially launched the local manufacturing of Caltex lubricants in East Africa a month after signing a license agreement with…

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Uganda coffee in hot demand as exports climb to 30-year high

Demand for Ugandan coffee in Italy, where espresso lovers abound, has helped increase the East African nation’s exports of the beans to the highest in at least 30 years. In August, Uganda overtook…

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Uganda ranked top in East Africa for openness to foreign investment

Uganda has been ranked top in East Africa and fifth in Africa for openness to foreign investment by Absa’s 2021 Financial Markets Index. Absa Group Limited is listed on the Johannesburg Stock…

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Djibouti to get new data center and cable landing stations:

Djibouti is due to get two new cable landing stations and a data center. Djibouti Telecom this week said it had broken ground on a new Cable Landing Station in Djibouti City. The CLS will consist of…

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Malawi: A factory in Mzimba Turns Wood Waste into Cooking Briquettes

Malawi's Minister of Forestry and Natural Resources, Nancy Tembo, is inaugurating a new plant in the Mzimba district of Malawi. The facility built by Raiply Malawi converts wood waste into briquettes…

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Egyptian Startup Swvl to Enter Europe’s Market via Shotl Acquisition

Egypt-founded transportation startup has agreed to buy Spain-based Shotl, an on-demand shuttle-booking platform, according to Reuters. Spain-based Shotl would serve as Swvl’s HQ in Europe, which…

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Hyundai Opens New Dream Centre in Kenya

Hyundai Motor opened its newest Hyundai Dream Centre — an automotive training and educational facility — in Kenya. The new Dream Centre is the seventh global institute established by Hyundai Motor,…

Read More


Uganda to Construct 25 Industrial Parks Across the Country

25 Industrial parks are set to be constructed across Uganda. This follows a partnership agreement inked between Uganda Investment Authority (UIA) and Uganda Peoples Defence Forces (UPDF) over the…

Read More


Rwanda Signs International Convention on Tax Matters

Rwanda this week became a signatory to the Convention on Mutual Administrative Assistance in Tax Matters (MAAC). The treaty is a commitment by Rwanda to comply with international standards from the…

Read More


DRC: Clean-Seas to Generate Electricity From Plastic Waste via Pyrolysis

Clean-Seas, a provider of waste management technology solutions, have been selected to build a waste-to-energy plastics plant using pyrolysis technology in Kinshasa, the capital of the Democratic…

Read More


Siemens Gamesa Installs First Turbine in Djibouti

Siemens Gamesa has installed its first ever turbine in the African country of Djibouti at the 59MW Goubet wind farm. Goubet, which is located on 395 hectares in the Arta region close to Lake Assal,…

Read More


Mango House Seychelles Becomes Hilton’s 4th Island Property – 2 More On the Way

Mango Home Seychelles is the fourth tourism institution to open in Seychelles below the Hilton lodge and resort world model, whereas the development of two extra have began, stated a lodge official.…

Read More


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