Category: Africa

EV Manufactuer Looking to Raise $1 Billion in Capital from African Market

MaryAnne Musilo

  The African pioneer of Artificial Intelligence and green revolution Agilitee Limited is raising about $2 billion as part of its Johannesburg initial public offering (IPO). The Company will raise $500 million in Africa, $500 million between UAE, UK, Europe and Asia. It has also been approached by a US based institutional investor who is promising $1 billion for 5% equity in Agilitee. This is a Pre-IPO capital raising as the company decided to start the capital raising while its advisors are still working on the prospectus. The company is…

CSOs Urge for Faster Action on Drought in East and Horn of Africa

MaryAnne Musilo

A group of humanitarian agencies and development organisations urged for urgent funding of humanitarian assistance to end the shameful hunger crisis in East and Horn of Africa. Speaking to the Press on today in Nairobi, Kenya, humanitarian and development organisations working in the region while urging for faster disbursement of funds from the global community also tasked governments in the region to prioritise provision of food and nutrition, rehabilitation of boreholes; and increased protection of women and girls against rising sexual and gender-based violence, exploitation and abuse. The ongoing Climate…

Companies Warm Up to Agilitee’s New E-bikes as They Look to Cut Transportation Costs

MaryAnne Musilo

Zimbabwe customers on Monday started to take delivery of electric vehicles rolled out by Agilitee, the market leader in Artificial Intelligence, electric vehicles and the green revolution giant. Majority of the customers are companies that are taking fleet instead of just one vehicle. Commenting on the sidelines of this big activity, Country Director Tanaka Kutama said, As we begin our first roll out of Electric bikes to various service providers in food and security we aim to have at least 300 bikes on the road by December, so there ease…

Nairobi Hosts 2nd ‘Egypt Kenya Business Bridge Forum’

GUEST

The Ambassador of the Arab Republic of Egypt Mr. Khalid ElAbyad announces the launching of the second business and economic event dubbed ‘Egypt Kenya Business Bridge Forum’ in Nairobi. Those events are in line with Egypt’s policy stated clearly by President Abdel Fattah El Sisito support and join hands with the Republic of Kenya to better engage cooperatively in all areas related to trade liberalization and investment promotion, especially those articulated during Egypt’s Chairmanship of COMESA. The business forum is the output of the Economic strategy for Trade and Investment…

ABC Bank Feted During Sustainable Finance Initiative (SFI) Catalyst Awards

CEO AFRICA

ABC Bank has been awarded for its innovative financing solutions which have created long-term value for clients in the agricultural sector at this year’s Kenya Bankers Association (KBA) Sustainable Finance Initiative (SFI) Catalyst Awards. ABC Bank support for clients in the agriculture space saw the lender take second position (best case study in financing a commercial client category) at the SFI Catalyst Awards which recognise financial sector players for their efforts in creating long-term value for their clients, the economy, and environment. The bank’s products have enabled its clients to…

ESAK: Investments in the energy sector are a key to ensuring continuity of the sector

Michelle Anzaya

The energy sector is a crucial sector in any country’s economy. This is crucial because energy is a key component in powering various sectors, from manufacturing to retail to households. In Kenya the energy mix is made up of various sources of energy- renewable and non-renewable such as wind, solar, water and thermal. With this diverse portfolio there is need to firm up investment in this sector. “One of the reasons why investment in the energy sector is viable in Kenya is due to the immense potential in the sector.…

TechnoServe targets edible oils, rice, with new food fortification program

TechnoServe will work with key stakeholders to widen the variety of fortified foods ·         The Technical Assistance Accelerator Program (TAAP) is supported by the Bill and Melinda Gates Foundation ·         COVID-19 pandemic, Russian-Ukraine conflict, prolonged drought is disrupting food consumption habits Nairobi, September 12, 2022…The non-profit international development organization TechnoServe has today officially launched a program that aims to widen the variety of fortified foods, ensuring Kenyan consumers continue to have access to nutritious meals. TechnoServe, with the support from a grant from the Bill and Melinda Gates Foundation, has launched the…

From South African startup to pan-African marketplace: The evolution of a local tech startup

Jacktone Lawi

In many respects, there’s never been a better time to launch and grow an African startup. The continent is home to a growing labour pool of increasingly well-educated and tech-savvy young people. Internet connectivity is also becoming cheaper and more ubiquitous across the continent and funding reached record levels in 2021. But, as Alen Ribic, co-founder and Chief Technology Officer (CTO) at domestic services marketplace SweepSouth points out, it still takes a lot of hard work and technological adaptability to build and grow a company on the continent. He should…

Carnegie Mellon University and Mastercard Foundation partner to drive youth-led digital transformation in Africa

CEO AFRICA

10,000 young people across Africa are set to benefit from the new Sh33.2 billion (USD $275.7 million) partnership, which will expand the engineering and technology, research, and entrepreneurship programs. The deal between Carnegie Mellon University (CMU) and the Mastercard Foundation, in collaboration with the Government of Rwanda, announced the transformational investment in higher education and innovation in Africa. The collaboration is aimed at catalyzing opportunities for 10,000 young people from economically disadvantaged communities—particularly young women, young people with disabilities, and forcibly displaced young people—and to drive inclusive development. The $275.7…

Senegal meets AFRAA ahead of hosting the premier gathering of aviation leaders in December 2022

Larmy

The Minister of Tourism and Air Transport of the Republic of Senegal,  Alioune Sarr, met AFRAA Secretary General – Mr. Abderahmane Berthé and Air Senegal CEO – Mr. Alioune Badara Fall, ahead of the country’s hosting of the 54th Annual General Assembly (AGA) and Summit of the African Airlines Association (AFRAA) in December 2022. The 54th AFRAA AGA will be held under the high patronage of the Head of State of the Republic of Senegal from 11-13 December 2022 at the Centre International de Conférences Abdou Diouf (CICAD) at the…