Equity Bank hits $9.3 billion capital base – the biggest in eastern Africa
Kenya’s Equity Bank has crossed the Ksh1,000,000,000,000 ($9,259,259,260) rubicon, becoming the first bank in East and Central Africa to cross this psychological barrier. Equity, Kenya’s largest bank by customer base, announced that it had reached the milestone following successful migration of Banque Commercial Du Congo (BCDC) to Equity’s Finacle core...
South Africa’s minerals council seals partnership with ‘Mining Indaba’
Minerals Council of South Africa has announced a strategic investment partnership with African Mining Indaba. The partnership comes into effect in February next year. The minerals council has long been a supporter, partner and participant in the annual in-person Mining Indaba. Mining Indaba in local language refers to annual mining...
Former Portuguese colonies to get $490 million for economic stimulus
Portuguese-speaking African countries will receive $490.2 million for the Lusophone Compact Guarantee Programme (LCGP or the Compact) to boost business development initiatives in African Development Bank’s non-sovereign portfolio. The programme, which consists of former Portuguese colonies in Africa is designed for new non-sovereign operations (NSOs) in Lusophone countries of Africa....
African bank approves $7m for mini-grid investment
The African Development Bank has approved a $7 million grant from the Sustainable Energy Fund for Africa (SEFA) for countries to set up a mini-grid acceleration initiative to meet the needs of the continent’s fast-evolving renewable mini-grid industry. The Africa Mini-Grid Market Acceleration Programme (AMAP), which aims to boost energy...
Angola oil minister poised to take over Opec presidency
The election of Angola to the rotating presidency of the conference of ministers of Opec is expected to thrust Angola Minister of Mineral Resources, Petroleum and Gas Diamantino Pedro Azevedo to the forefront in the efforts to stabilise the volatile oil market in the new year. The assumption of the...
Mozambique on track to becoming a hub for natural gas development in Africa
Mozambique is a country full of amazing opportunities. I have had a chance to engage with the energy industry in the country and also with a lot of local companies, civil society and young people. It was exciting to talk with young people who understand that innovation and hard work...
Technology experts foresee utility-like criticality for data centres in 2021
As the world moved online seemingly overnight in the face of the Covid-19 pandemic, the criticality of data centres and the unrelenting reliance on them across all walks of life became an enduring storyline of the crisis. This reality will manifest in new ways in 2021 as the data centre...
20,000 activists petition Kenya to reject US plastics export deal
Despite publicly retreating on the push to force Kenya and by extension to allow trade plastics and petrochemical products, American Chemistry Council (ACC) is said to be quietly lobbying Washington to force concessions for exports during ongoing bilateral trade agreement negotiations between the two countries. The push by ACC has...
12 multilateral lenders team up with IMF to finance Africa’s SDGs
Twelve multilateral development banks (MDBs) and the International Monetary Fund (IMF) have teamed up to pool resources to finance the United Nations Sustainable Development Goals (SDGs) in Africa. Africa’s leading financier, the African Development Bank, announced in Ivory Coast capital, Abidjan, on Thursday this week that it had joined hands...
Dark side of Big Tech’s funding for Artificial Intelligence research
Last week, prominent Google artificial intelligence researcher Timnit Gebru said she was fired by the company after managers asked her to retract or withdraw her name from a research paper, and she objected. Google maintains that she resigned, and Alphabet chief executive Sundar Pichai said in a company memo on...
