Business News – Africa Guardian

HostAfrica to Acquire Nigerian Web Hosting Firm GO54 in Strategic Expansion

December 21, 2024

| Africa, Business News

Elizabeth Antidius Shumbusho | Africa Guardian HostAfrica, a prominent web hosting solutions provider in Africa, has announced its plans to acquire the assets of GO54 (formerly WhoGoHost), a leading Nigerian web hosting company. This acquisition marks a significant milestone in HostAfrica’s efforts to enhance its service offerings and strengthen its presence in Africa’s burgeoning tech market. Expanding Nigeria’s Digital…

South Africa Launches First Accredited Higher Education Cannabis Course

December 20, 2024

| Africa, Business News

Our Correspondent | Africa Guardian Cheeba Cannabis & Hemp Academy, a leading South African cannabis education provider, has unveiled its groundbreaking Higher Certificate in Cannabis Production and Management. This qualification, the first of its kind to be accredited by the Council on Higher Education (CHE), aims to set a new standard for cannabis education. Trenton Birch, CEO and Co-founder…

TechnipFMC Secures Major Subsea Contract for West Africa’s Bonga North Project

December 18, 2024

| Africa, Business News

Our Correspondent | Africa Guardian TechnipFMC has been awarded a significant contract to supply the subsea production system for Shell’s $5 billion Bonga North project, located offshore Nigeria. On December 16, Shell confirmed its final investment decision for the project, marking the first deepwater development in Nigeria in over a decade. TechnipFMC, previously identified as the frontrunner, will provide…

Forbes Unveils 2024 List of Africa’s Most Powerful Women, Led by Okonjo-Iweala, Samia Suluhu, and More

December 14, 2024

| Africa, Business News

Our Correspondent | Africa Guardian While women across the globe continue to face systemic obstacles that hinder their ability to reach and sustain positions of power, a select group are breaking these barriers, making significant strides in business, entertainment, and politics. Forbes’ 2024 list of the World’s 100 Most Powerful Women celebrates these trailblazers, with five African women securing…

Digital Wallets and Mobile PoS: Game-Changers for Africa’s SMEs

December 6, 2024

| Africa, Business News

Elizabeth Antidius Shumbusho | Africa Guardian For decades, access to financial services in Africa was marked by stark disparities—between rural and urban areas, men and women, and small businesses versus larger enterprises. These gaps left millions, particularly the continent’s most vulnerable, excluded from the formal economy, stifling entrepreneurship, limiting credit access, and restricting financial mobility. However, the tides began…

Capitalizing on Africa’s Outsourcing Boom: A Guide for Businesses

November 19, 2024

| Africa, Business News

By Charles Muchoki | Africa Guardian For many years, the Philippines has been the go-to destination for business process outsourcing (BPO) due to its skilled, English-speaking workforce, cultural alignment with Western nations, and strong governmental support. However, as companies explore ways to diversify their outsourcing strategies, Africa is quickly emerging as an attractive alternative. Drawing from my experience as…

Intra-African Trade Surges as Local Markets Gain Preference Over Global Partners

November 19, 2024

| Africa, Business News

Africa Surpasses Asia and Europe as Preferred Trade Market By Elizabeth Antidius Shumbusho | Africa Guardian Africa’s intra-continental trade is gaining momentum, driven by easier cross-border transactions, improved quality of locally made goods, and more competitive pricing compared to markets in Asia, the US, and Europe. According to the latest Africa Trade Barometer, African businesses are increasingly opting to…

UBA Expands Reach: New Saudi Arabia Subsidiary Marks Continued Commitment to Africa’s Growth

November 17, 2024

| Africa, Business News

By Edson Baraukwa | Africa Guardian United Bank for Africa (UBA) Plc, a leading Pan-African financial institution, is set to establish its second Gulf Region subsidiary in Saudi Arabia, following its successful expansion into the United Arab Emirates in 2022. The new subsidiary, expected to launch within the next year, underscores UBA’s commitment to connecting Africa with the Middle…

Apex and Dematic Unveil Partnership to Drive Efficiency and Innovation in Southern Africa’s Warehouses

November 13, 2024

| Africa, Business News

Apex Partners with Dematic to Transform Warehouse Automation in Southern Africa By Charles Muchoki | Africa Guardian Apex (www.Apex-rts.co.za), a prominent Southern African provider of warehouse management and automation solutions, has formed a strategic partnership with Dematic, a global leader in automated material handling systems and software. This partnership enables Apex to represent Dematic in the region, delivering internationally…

Riyadh Forum to Foster New Business Partnerships Between Tanzania and Saudi Arabia

November 8, 2024

| Africa, Business News

Our Correspondent | Africa Guardian Over 100 businesses and investors are expected to attend the Tanzania-Saudi Arabia Business and Investment Forum, set to take place in Riyadh from December 17 to 21. The event, organized by the Tanzania Investment Centre (TIC), aims to strengthen economic ties between the two countries. Gilead Teri, the TIC Executive Director, highlighted that the…

Ethiopian Airlines Celebrates Delivery of Africa’s First A350-1000 with Thales AVANT Up Inflight Entertainment System

November 8, 2024

| Africa, Business News

By Elizabeth Antidius Shumbusho | Africa Guardian Ethiopian Airlines has become the first airline in Africa to receive an Airbus A350-1000 equipped with Thales’s advanced AVANT Up Inflight Entertainment (IFE) system, marking a new chapter in the airline’s commitment to offering exceptional passenger experiences. This milestone highlights a longstanding partnership between Ethiopian Airlines and Thales, which spans over a…

EU Remains Africa’s Leading Trade Partner and Export Market

November 7, 2024

| Africa, Business News

Our Correspondent | Africa Guardian The European Union (EU) continues to be Africa’s largest trading partner and primary export market, according to Norwegian Ambassador Tone Tinnes. Speaking at the 28th annual research workshop of REPOA, an economic research institution based in Dar es Salaam, Tinnes highlighted that EU imports from Africa reached €367 billion in 2023—a 27% rise since…

Transforming Business in Africa: The Influence of Digital Payment Solutions and Passport by Investment

October 3, 2024

| Business News

Our Correspondent | Africa Guardian Africa’s business landscape is undergoing a remarkable transformation fueled by technological innovations and shifting global economic dynamics. The continent’s increasing connectivity, highlighted by the emergence of digital payment solutions and passport by investment (PBI) programs, is reshaping business practices. These advancements not only enhance financial accessibility but also create new avenues for global entrepreneurs…

How Guinness Exploits Masculinity in Africa to Boost Sales

September 25, 2024

| Business News

By Edson Baraukwa | Africa Guardian Africa is the largest global market for Guinness beer, with Nigeria ranking second only to the UK in terms of consumption. The success of the Irish brand on the continent is often celebrated as a pioneering business model, largely attributed to its targeted advertising campaigns. Sociologist Jordanna Matlon recently published a research paper…

Aliko Dangote Calls on African Business Leaders to Drive Continental Transformation

September 13, 2024

| Business News

By Charles Muchoki | Africa Guardian Aliko Dangote, the founder of Dangote Group, has urged African business leaders to take the helm in driving the continent’s transformation. Speaking at the African Renaissance Retreat in Kigali, Rwanda, Dangote highlighted that despite Africa’s numerous challenges, its youthful population and vast natural resources—including about 30% of the world’s mineral reserves and the…

SPAR Mulls Acquisition of West Pack Lifestyle Amid Business Rescue

August 31, 2024

| Business News

By Elizabeth Antidius Shumbusho | Africa Guardian South African retailer Spar Group is contemplating an offer to acquire West Pack Lifestyle, which is currently undergoing business rescue. As the country’s second-largest grocer by revenue, Spar has expressed ambitions to diversify beyond the food sector and capture a larger share of the South African market. West Pack, known for its…

Transnet Secures R5 Billion Loan from BRICS New Development Bank

August 31, 2024

| Business News

Our Correspondent | Africa Guardian South Africa’s state-owned logistics company, Transnet, has secured a R5 billion ($283.53 million) loan from the New Development Bank, established by the BRICS group of emerging economies. The South African government will guarantee this loan, which is aimed at supporting Transnet’s ambitious turnaround plan. The loan is intended to address the years of underinvestment…

Starlink Aims to Disrupt Africa’s Internet Market with Router-Free Service

August 28, 2024

| Business News, News/Tech

By Charles Muchoki | Africa Guardian Elon Musk’s Starlink is poised to shake up Africa’s internet landscape with a new router-free service, potentially disrupting the market dominance of established telecom giants like Safaricom and MTN. By eliminating the need for costly hardware, Starlink aims to lower barriers to internet access in a region where high costs have long limited…

Kia Middle East and Africa Unveils Kia EV5 in Morocco: A New Era of Electric SUVs

August 27, 2024

| Business News

By Charles Muchoki | Africa Guardian Kia Middle East and Africa has officially launched the Kia EV5 in Rabat, Morocco, marking a significant step forward in the region’s journey towards sustainable mobility. The event, attended by over 100 media representatives and fleet companies from nine markets, highlighted the Kia EV5’s impressive range, speed, and futuristic design as the future…

Russia to Begin Direct Cocoa Bean Imports from Nigeria

August 27, 2024

| Business News

By Edson Baraukwa | Africa Guardian Russia is set to start importing cocoa beans directly from Nigeria, with initial deliveries expected between September and October, according to Maksim Petrov, Moscow’s trade representative in Nigeria, as reported by TASS. Russian trading houses, which already export products like frozen fish, alcohol, chocolate, and meat to Nigeria, will handle these new cocoa…

TikTok Enhances Safety Efforts in Sub-Saharan Africa with New Advisory Council and #SaferTogether Campaign

August 22, 2024

| Business News

The newly established Sub-Saharan Africa Safety Advisory Council is a part of TikTok’s global network of advisory councils, designed to provide expert insights on a range of safety issues. TikTok has announced significant strides in enhancing safety across its platform in Sub-Saharan Africa with the launch of its first Safety Advisory Council for the region and the expansion of…

BREAKING: Ethiopian Airlines Finally Breaks Silence on the Nigeria Air Project

October 26, 2023

| Business News

The leadership of Ethiopian Airlines has opened up on the controversy over the Nigerian Air initiative of the past administration of Former President Muhammadu Buhari. POLITICS NIGERIA recalls that the former Minister of Aviation, Senator Hadi Sirika, had floated the airline on May 27. However, it was later discovered that an aircraft belonging to Ethiopian Airlines was used to…

Renault announces eight new models for global markets

October 26, 2023

| Business News

With the new Renault Group modular platform, the carmaker aims to build cars between four and five metres in length with various powertrains. French carmaker Renault has announced that it will invest €3 billion (over Rs 26,000 crore to launch eight new models outside Europe for global markets by 2027. Out of these eight, five will be from the…

Rising Demand in Cosmetics and Personal Care Industry Sparks Citrus Seeds Market Boom: Insights from FMI Report on the Natural Beauty Revolution

October 5, 2023

| Business News, Economy

The citrus seeds market has experienced a remarkable surge in recent years, driven by growing demand for citrus fruits and their derivatives. These tiny powerhouses, loaded with essential nutrients and antioxidants, have gained popularity in the health and wellness industry. The market for citrus seeds worldwide was projected to reach US$ 4.32 billion in 2022. Sales are expected to reach US$ 8.9 billion…

Why parallel forex market thrives in Nigeria, by World Bank

October 5, 2023

| Business News

The World Bank has blamed the re-emergence of parallel currency exchange market in Nigeria on resistance toward the increasing pressure on the naira and the limited supply of forex at the official window. The Bank, in a report released on Wednesday in Washington DC, said the premium between the parallel exchange rate and the official rate widened from March…

Top 10 most rewarding African countries to do business in 2023

September 28, 2023

| Business News

・Business Insider Africa presents the top 10 most rewarding African countries to do business in 2023. ・This list is derived from Oxford Economics Africa’s report titled “The Africa Risk-Reward Index.” ・The research is based on the assessment of 3 major factors. Businesses have the option to go beyond national boundaries for new markets and investment opportunities in today’s globally…

Türkiye, African businesspeople come together in Istanbul

September 27, 2023

| Business News

OVER the years, Türkiye’s role in the African continent has increased consistently. This has been translated into stronger ties between Türkiye and Africa. Turkiye’s policies toward Africa evolve within the framework of a win-win policy and are mainly driven by economic, humanitarian, and security dimensions. Furthermore, Türkiye has emphasised the fact that the principles of equal partnership and mutual…

Africa is set to welcome the idea of borderless trade within the continent

September 26, 2023

| Business News

・AFRAC Summit in Nairobi, Kenya initiates discussions on creating a borderless trade zone in Africa. ・Kenya’s Ministry of Investment, Trade, and Industry seeks solutions to expand African industry beyond its current 3% global share. ・Kenya’s investment and export goals include raising manufacturing GDP contribution and increasing exports to 30% of GDP by 2025 Discussions to establish Africa as a…

Huawei announces $430 mln 5-year investment plan for North Africa

September 26, 2023

| Business News, Tech Updates

The Chinese company Huawei Technologies announced its $430 million five-year investment plan, named “Intelligent Future,” for boosting smart transformation in North Africa, according to President of Huawei Northern Africa Terry He. The plan allocates $200 million for building the company’s first cloud center in North Africa, which will provide over 200 cloud computing services. Intelligent Future will also invest $200 million…

Honda Expected To Roll Out Big Updates To 2024 Africa Twin

September 21, 2023

| Business News

More torque and road-focused handling characteristics seem to be in the pipeline. Honda is anticipated to roll out major updates to its flagship adventure bike, the CRF 1100 Africa Twin, for the 2024 model-year. Reports suggest that the new and updated Africa Twin will sport refinements to the engine, chassis, and overall setup, appearing to cater to more road-focused…

Tanzania Embarks on a Transformative Journey in Blue Economy: New Fishing Port in Kilwa Masoko to Generate 30,000 Jobs

September 17, 2023

| Business News

Fresh from the successes of the AGRF Summit in Dar es Salaam, President Dr. Samia Suluhu Hassan is pivoting Tanzania towards a transformative chapter in its blue economy. Minister for Livestock and Fisheries, Abdalla Ulega, elaborated on this ambitious project, underscoring Tanzania’s commitment to food system reform and development. President Dr. Samia is leading the East African food powerhouse…

Pakistan to double trade volumes with Tanzania

August 17, 2023

| Business News, PRIME

Pakistan High Commissioner to Tanzania Siraj Ahmad Khan says his country’s priority is to boost trade volume between the two countries through bilateral trade Dar es Salaam. The government of Pakistan is targeting to increase trade with Tanzania from $224 million to more than $400 million in the next two years. Pakistan High Commissioner to Tanzania Siraj Ahmad Khan…

Namibia Oil and Gas Conference 2023 takes off

August 2, 2023

| Business News, News

By Clifton Movirongo. The Namibia Oil and Gas Conference, coordinated by the Economic Association of Namibia (EAN), the Namibia Investment Promotion and Development Board, and the Hanns Seidel Foundation, was officially launched on Tuesday in Windhoek and will take place on 16 and 17 August. The conference’s primary goal is to create a platform for a large-scale public consultation,…

Al-Sisi calls for enhancing African industry to engage in global value-added chains: Egypt

July 17, 2023

| Business News, News

This programme shares its priorities and goals with the file of post-conflict reconstruction and development, whose leadership was supervised at the level of the African continent President Abdel Fattah Al-Sisi has stressed that the African continent has to continue its efforts to mobilize financial resources in priority areas, especially infrastructure development, within the framework of the African Infrastructure Development…

Sh47 trillion carbon trading investment a boost for Tanzania

July 16, 2023

| Business News

Carbon offsets are intended to mitigate the effects of climate change, and Tanzania is on the verge of a new age, one in which the carbon market can provide major benefits to the environment, local people, and the National Treasury Dar es Salaam. Producing and selling carbon offsets is finally becoming a lucrative business in Tanzania, with the government…

Iranian Official Highlights Opportunities in Africa for Bartering

July 16, 2023

| Business News

There are many advantage for bartering of goods with Africa, the chairman of the Iran-Iraq Joint Chamber of Commerce said, adding that Iran should seize it as an opportunity to spur trade with the continent. Countries enjoy high capability of producing goods and can use bartering deals to supply goods as they need, Yahya Al-e Es’hagh emphasized. Speaking in…

Months later and the Russian/Ukraine conflict is benefitting Tanzania

May 9, 2023

| Business News, International

According to the most recent data from Tanzania’s central bank, Tanzanian coal exports experienced a seven-fold increase in the year to March as a result of the strong demand brought on by Europe’s energy crisis as a result of Russia’s invasion of Ukraine. In September 2022, Business Insider Africa reported that the rise in demand for coal is a…

TCC shareholders set for 23 percent increase in dividend

March 28, 2023

| Business News

Summary The firm announced on Monday that its gross profit jumped by 16.2 percent to Sh69.2 billion in 2022 from Sh59.6 billion in 2021 Dar es Salaam. Tanzania Cigarette Public Limited Company (TCC Plc) has increased its dividend for shareholders by 23 percent after the company braved challenges to register double-digit growth in profitability. The firm said yesterday that its…

Dr. Agnes Kalibata Commends Tanzania’s Progressive Initiatives Empowering Youth to Drive Food System Transformation

February 21, 2023

| Agribusiness, Agriculture, Business, Business News, Current Affairs, Economy

By Anthony Muchoki Dr. Agnes M. Kalibata, President of AGRA, has commended the Tanzanian government for taking a significant step towards enabling youth to participate in food system transformation. A strong advocate for youth empowerment in agricuture, Dr Kalibata believes that “the younger generation needs to have productive, meaningful lives. Let’s give them the technologies and opportunity to be…

Demand for Potassium Sulfate Market is forecast to reach a valuation of US$ 6,566.6 Million by the end of 2029

February 15, 2023

| Business News

A recently published market study by Future Market Insights (FMI) on the Potassium Sulfate market integrates the global industry analysis for 2014-2021 and market opportunity assessment for the forecast period of 2022-2029. The market study divulges fundamental insights and provides an in-depth market analysis for the historical as well as forecast period. As per the market valuation in the report, the…

Coca-Cola Beverages Africa Amplifies Support for Women in STEM

February 13, 2023

| Business News, Companies, Current Affairs, Retail and Consumer

Nakuru, Kenya As the world prepares to celebrate the International Day of Women and Girls in Science, Coca-Cola Beverages Africa (CCBA) has amplified its commitment to empowering women and girls in STEM. Recognizing the importance of closing the gender gap in STEM, CCBA is taking action to promote the advancement of women in science. The company General Manager of…

EAC exports to Africa soar to $7.9 billion in 2021

January 23, 2023

| Business News

Summary Top EAC exports to Africa included precious stones, coffee, tea, cement, animal fats, mineral oils and iron and steel. Exports from the East African Community (EAC) bloc to Africa soared to $7.9 billion in 2021 in spite of Covid-19 impact. They comprised 42 percent share of the region’s total exports of goods to the world which was $18.7…

Tanzania’s Agriculture Sector to Take Center Stage at Upcoming AGRF Food Systems Forum

January 2, 2023

| Agribusiness, Agriculture, Business Insight, Business News, Current Affairs, Economy

*50 Potential Outcomes for Tanzania The AGRF Food Systems Forum will take place in Tanzania in 2023. John Muchoki and John Beda will examine the potential outcomes of the Summit on agriculture in Tanzania, building on the efforts made by various stakeholders to improve the sector. The Summit seeks to advance the progress of the Malabo Declaration and prioritize…

Tanzania to host the AGRF, Africa’s Food System Forum 2023

January 1, 2023

| Agribusiness, Agriculture, Agritech, Business, Business News, Current Affairs, Green, Home Slide Show, Internation Business News, News Update, Top News, World News

Tanzania will host the AGRF 2023 Summit, the announcement was made by Her Excellency Samia Suluhu Hassan, the president of the United Republic of Tanzania and H.E Hailemariam Dessalegn, the Chair of the AGRF Partners Group on the sidelines of the U.S. Africa Leaders’ Summit currently taking place in Washington, DC. The AGRF, Africa’s Food Systems Forum, is the…

John Haule: We Have Raised $50,000 Pre Seed To Build The Financial Operating System for African SMEs

December 16, 2022

| Business News, Current Affairs, Money, Tech

We are excited to announce that SWAHILIES has raised $50,000 in pre-seed funding from The Baobab Network, an accelerator that backs early-stage technology startups in Africa, providing entrepreneurs with funding, support and a global platform to scale their businesses. The Baobab Network has been very supportive of us during the acceleration program and even beyond. We are super excited to be with them on this journey….

SECURING CHINESE MARKET FOR AVOCADO:TAHA heaps praise on Samia

November 14, 2022

| Business News

THE horticulture industry champion has showered praise to President Samia Suluhu Hassan for unlocking the strategic Chinese avocado market worth nearly 150 million US dollars (about 347.3bn/-) per annum. Courtesy of President Samia’s diplomatic agreement with her Chinese counterpart, Xi Jinping, during her maiden state visit, Tanzania and China signed a protocol on sanitary and phytosanitary (SPS) measures to…

Why key multinational supermarkets quit Tanzania

October 30, 2022

| Business News

Dar es Salaam. Business stakeholders and analysts yesterday pointed out possible factors over why multinational retailers are closing shop in Tanzania. In the recent past, Tanzania has witnessed a number of supermarkets shutting down, with the latest one in the list being Game Stores, whose closure will adversely affect over 100 direct and indirect jobs. The exit of Game…