- ExxonMobil To Commence Operations In Ghana
ExxonMobil an American multinational company is set to start its operations in Ghana after an agreement to be signed scheduled for Thursday 18th January 2017 between the company and Ghana government. This is as a result of a successful negotiation with the country to carry out exploratory works at the deep water cape three points.
Source: Citi Business News
2. Rwanda-Millicom To Sell Its Rwanda Business To Bharti Airtel
The CEO of Millicom, Mauricio Ramos stated that, selling of their business in Rwanda was in line with their strategy to focus on providing advanced fixed and mobile data services in Latin America. The deal which has already been signed will move 370million customers of Tigo to join the network of Airtel Rwanda. This procurement puts Airtel Rwanda as the 2nd largest operator in the country hence increasing its revenue gains of over USD 80million and also revenue market share of over 40%.
Source: All Africa
3. East Africa Islamic Economy Summit 2018 to Focus on Fintech Technologies.
The summit scheduled to take place on 24th and 25th April, 2018 in Nairobi will be themed around FinTech. This year’s summit with a great input from leading experts in the Islamic economy is aimed at defining its role within the financial sector, the emergence of FinTech, opportunities for East Africa in the Islamic digital economy which according to Ernst & Young has the potential of 150 million new customers by 2021. Kenya is noted as a country that pioneered the mobile money technology through MPESA and continues to make efforts towards its vision to become Africa’s financial hub.
Source: All Africa
- 15,000 Youths To Be Recruited For A US$10M Agriculture Project – Liberia
Mr. Mohammed Nasser (Technical Team Manager of The Youth Opportunity Project at Liberia Agency for Community Empowerment-LACE) revealed that, the recruitment of 15,000 young people for job opportunities across the country started on 9th January, 2018. The recruitment under the Youth Opportunity Project is a 5years program with a US$10M loan from the World Bank through the Liberian government in collaboration with LACE to provide young people with job opportunities. The project is identified under 2 components which are to focus on productive work (young people’s involvement in agriculture in their various communities) and the second being an avenue to provide young people with the required and necessary training and guidance to enable them multiply and transform their living conditions in their various communities.
Source: Liberian Observer
- Orange Announces Big Plans For 2018-Liberia
Mr. Mamadour Coulibaly (CEO of Orange Liberia) on a press release stated that, the company’s confidence in the Liberian economy has motivated and encouraged them to make major investments in the Liberian telecommunications industry after a resounding success in 2017. He continued to explain that, an investment of about 20million USD in 2017 enabled them to build 65 new sites, and also expand its 4G LTE internet network, developing a powerful platform already positioned in 16 African countries that will transform the Liberian commerce sector in the near future and also create jobs. The company launched an unmatched range of new devices to bring smartphones for everyone in the country. The “infinity pack” also introduces a flat-rate all-inclusive package which is the first of its kind in Liberia. The company has targeted expanding its network availability, quality improvement and 4G LTE coverage to more rural areas in Liberia.
Source: Liberia Observer
- Kenyan Airline Opens Ticketing For Inaugural Flight To USA
Kenya Airline is expected to take off directly for the first time to USA in October this year. This move is said to boost its annual revenue by 10% from 2019. The new route is part of an effort to revive the airline’s fortunes after it came close to collapse and will also encourage more business and tourist travel since the US is identified as the biggest source of visitors to Kenya. This will also create about 150 new jobs at Kenya Airways.
Source: The Africa Report
- Algeria Bans Imports of Cell Phones, Vegetables and Other Good to Curb Trade Deficit.
The Algerian government last Sunday has banned the import of goods such as furniture, all vegetables with the exception of garlic, some meats and fruits, cheeses, chocolates, pastries, pasta, juice, bottled waters and some building materials. The trade minister stated that, “the import suspension of these products is limited in time and will be lifted gradually with or without maintaining or increasing taxes and other duties”. Under the new ban, the government hopes the input bill will fall to 30billon USD this year from a projected 45 billion USD according to official figures. Taxes and custom duties were raised by 30% to help cut the bill which was effective on 1st January, 2018; this is part of measures targeted at securing a new funding source for the economy and reforming a subsidy system that covers almost everything.
Source: The Africa Report