Finance

East Africa is Africa’s fastest growing region, despite COVID-19 disruption

East African countries should accelerate a real structural transformation by transitioning from low value-added production to higher value-added activities. (Image source: Nina Stock/Pixabay)

Economic disruption caused by the COVID-19 pandemic has pushed East Africa’s growth projection for 2020 down to 1.2 per cent, a rate that outstrips other African regions and is forecast to rebound to 3.7 per cent in 2021, according to the African Development Bank’s (AfDB) East Africa Regional Economic Outlook 2020

CIIE set to boost Africa-China trade, says Standard Bank executive

The trend for increased economic cooperation between China and Africa is set to continue. (Image source: Free-Photos/Pixabay)

The China International Import Expo (CIIE) has helped to diversify Chinas sources of imports and facilitate greater trade flows between China and Africa, said François Gamet, head of Asia for the Standard Bank Group and CEO of Standard Advisory (China) Ltd

NIT signs distribution agreement with barox for META region

The partnership aims to make it possible for system integrators to manage security network and connected devices in the most demanding video surveillance projects. (Image source: FirmBee/Pixabay)

NIT, an Ingram Micro Company and a regional value-added distributor of IP surveillance and physical security solutions in the Middle East, Turkey and Africa (META) region, has signed a distribution agreement with barox Kommunikation GmbH

VC4A announces 2020 ‘Venture Showcase Series A’ in collaboration with AWS Activate

Selected companies of the 2020 edition will digitally convene and engage the leading VC funds, corporate venture divisions and public sector agencies. (Image Source: VC4A)

VC4A is calling for disruptive African scale-ups looking to raise between UK$500,000 and US$10mn

IFC invests in Nigeria’s Zenith Bank to support SMEs

IFC’s support for Nigeria’s banking sector will help keep the wheels of Nigeria’s economy turning at a time when it is facing a major challenge from COVID-19. (Image source: Aloysius/Pixabay)

IFC, a member of the World Bank Group, has announced an investment of up to US$100mn in Nigeria’s Zenith Bank Plc to help it increase support to clients and companies whose cash flows have been disrupted by challenges caused by the COVID-19 pandemic

Africa Energy Indaba will address Sub-Saharan power crisis

A carmix concrete mixer at work in Namibia.

The Carmix 3.5TT is renowned for its robust performance in concrete mixing. (Image source: Carmix)

Carmix machinery to support canal reconstruction in Namibia

President_Ruto_Kenya_President_Oramah_Afreximbank_Mombasa_logistics_parks

President William Ruto of Kenya and president Benedict Oramah of Afreximbank in Mombasa, Kenya. (Image source: Afreximbank)

Afreximbank to boost Kenya’s logistics sector

All models support Volvo Dig Assist, an optional intelligent machine control system that enhances excavation accuracy and efficiency. (Image source: Volvo CE)