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Economy Archives - Page 2 of 49 - Inside Business Africa
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Economy

Access Bank partners SME.NG to roll out Ebi Marketplace

Access Bank partners SME.NG to roll out Ebi Marketplace

Business, Corporate Stories, Economy
SME.NG in partnership with Access Bank Plc and other leading institutions, including the Bank of Industry (BOI), LAPO Microfinance Bank, Chapel Hill Denham, and the Impact Investment Foundation Nigeria are launching the Ebi Marketplace – a Nigerian innovation for female entrepreneurs. The Ebi Marketplace consists of an access to capital market, an e-commerce mall and a knowledge market for female entrepreneurs in Nigeria seeking to digitize their businesses. Conceptualised and developed by SME.NG as a tangible solution to the impact of COVID-19 on female entrepreneurs, the Ebi Marketplace aims to close the gender digital divide in Nigeria by supporting women’s digital literacy and financial inclusion, while providing access to capital and markets. Thelma Ekiyor, the brain behind ...
Standard Bank pioneers $111 million Green Loan Refinance for Actis

Standard Bank pioneers $111 million Green Loan Refinance for Actis

Business, Corporate Stories, Economy
On the 17th of November 2021, the Standard Bank Group announced the closure of a $111m Green Loan Refinancing for two of Actis’ assets in Nigeria. Since the recession in 2016, and the currency devaluation that ensued, the office and retail segments of Nigeria’s real estate market, in general, have performed relatively poorly, and the pandemic only worsened things. Most of the prime buildings in Lagos have struggled to keep occupancy and cash flows at good levels, and this has placed a need for some form of cash inflow for them to keep moving. Typically, asset refinancing happens when a business needs an injection of cash to free up working capital on its existing assets. The Standard Bank Group, who also financed The Wings Towers in Victoria Island...
Empowering Future Livelihood: Canon And VII Academy come together to launch a twelve week seminar program on Documentary and Photojournalism photography

Empowering Future Livelihood: Canon And VII Academy come together to launch a twelve week seminar program on Documentary and Photojournalism photography

Business, Corporate Stories, Economy, Innovation
As an extension of the company’s Miraisha programme (https://bit.ly/3FC2cGi) that focuses on promoting job opportunities and future livelihoods in Africa by offering extensive workshops and other educational support, through this partnership, Canon (Canon-CNA.com) seeks to empower young and aspiring African talents who are passionate about Documentary and Photojournalism storytelling through a twelve week program in association with VII Academy. The workshops will be led and tutored by world renowned photographers namely Nichole Sobecki and Stefano De Luigi.   To fortify the foundation of photojournalism, the program will impart students with necessary practical tools for production of single pictures and short photo essays suitable for publication in an editorial and digital conte...
IRC Calls for Bold Action Around Blinken Africa Visit

IRC Calls for Bold Action Around Blinken Africa Visit

Economy
As US Secretary of State Anthony Blinken continues his visit in Africa, the IRC calls on the US and other wealthy nations to renew efforts to address humanitarian emergencies unfolding across the continent, specifically in Ethiopia, Nigeria and Sudan. While the US has donated millions of vaccines to Africa, Covid-19 vaccine supply is not the only humanitarian concern. The triple emergency of Covid, conflict and climate change is wreaking havoc, meanwhile the amount of aid and humanitarian diplomacy being dedicated to these emergencies is grossly out of sync with realities and needs on the ground.  Increased aid dollars to address knock-on effects of climate change, conflict and Covid are long overdue Amanda Catanzano, Acting Vice President of Policy and Advocacy at the Internat...
MNDA Seeks FDI From the United States of America

MNDA Seeks FDI From the United States of America

Business, Economy
The Honourable Minister of State, Ministry of Niger Delta Affairs (MNDA), Senator Omotayo Donald Alasoadura has reiterated the need to strengthen bi-lateral relationship with the United States of America to attract Foreign Direct Investments (FDI) and explore avenues for diversification in the Niger Delta region and Nigeria at large. The Minister made this assertion at the Summit with the theme “Economic Development, Investments and Local Governance Mission," held in Houston-Texas, United States of America (USA), recently. He posited that the Summit is aimed at forging international economic cooperation for investment, build institutional exchanges and explore avenues for diversification of Nigeria's economy hence an avenue to attract investors and investments from the USA into ...
IMF Staff Concludes Article IV Mission to Zimbabwe

IMF Staff Concludes Article IV Mission to Zimbabwe

Business, Economy
The COVID-19 crisis impacted an already weakened economy following cyclone Idai and a protracted drought. Containment and support measures introduced by the authorities helped in mitigating the adverse effects of the pandemic; economic activity is recovering, and mass vaccination continues steadily. But downside risks remain, dominated by the pandemic’s evolution, vulnerability to climatic shocks, and the need to further strengthen macroeconomic policies; key policy areas relate to allowing greater exchange rate flexibility and tackling FX market distortions, accompanied by appropriate macroeconomic policies; creating fiscal space for critical spending; growth-enhancing structural and governance reforms; and data transparency; macroeconomic and structural reforms would help in durably res...
Africa Oil Week closes with high-value deals, and strong intent for future investments in the continent

Africa Oil Week closes with high-value deals, and strong intent for future investments in the continent

Business, Economy
Africa Oil Week  (Africa-OilWeek.com) , Africa’s biggest and most prestigious upstream conference ended on Thursday with high-value deals, and strong intent for future investments in the continent. The event, which was held from 8th to 11th November 2021 at the Madinat Jumeirah in Dubai - making it the first edition in AOW’s 27-year history to be held outside of the continent - was supported by key sponsors including TotalEnergies, Eni, ADNOC, Chevron, Shell and Equinor, among others. For Africa, by Africa With more than 45 Ministers and Government leaders attending the power packed event, along with two Commissioners from the Africa Union, and several NGOs, AOW 2021 included comprehensive discussions about the future of the continent both in terms of achieving the gre...
African Development Bank’s Coding for Employment program set to expand digital skills among rural youth

African Development Bank’s Coding for Employment program set to expand digital skills among rural youth

Business, Economy, Innovation
The African Development Bank’s (AfDB.org) Coding for Employment (https://bit.ly/3kMNqEF) program will train over 500 digital ambassadors to lead a peer-to-peer training model set to expand digital skills to more African youth, especially in rural communities with limited internet connectivity. Coding for Employment and its technical partners, Microsoft Philanthropies, will offer the digital ambassadors an intensive three-month program featuring in-demand skills, such as web design and digital marketing, as well as soft skills such as critical thinking, project management and communication. At the end of the coursework, the Bank and Microsoft Philanthropies will provide graduates with information and communication technology toolkits and resources so they can offer the same training ...
AfricInvest signs debt deal via Asoko Digital Engagement Platform

AfricInvest signs debt deal via Asoko Digital Engagement Platform

Economy, Innovation
Digital deal-making officially features in Africa’s investment landscape with the closing of the first deal originated on Asoko Insight’s (AsokoInsight.com) Digital Engagement platform, the premier service connecting companies across the continent with growth-enabling stakeholders. On 8 November, Ruai Family Hospital (trading as RFH Healthcare) a leading healthcare provider in Kenya, entered a strategic partnership with pan-African asset management platform, AfricInvest, through its debt vehicle, AfricInvest Private Credit (APC). Asoko Insight has been working with APC to originate debt opportunities via the Digital Engagement platform since November 2020, providing high-growth SMEs with a streamlined route into the pipeline, while at the same time cutting down the noise of earl...
Verdant Capital closes four private equity-related transactions in South Africa

Verdant Capital closes four private equity-related transactions in South Africa

Business, Economy
Verdant Capital (www.Verdant-Cap.com) has closed four private equity-related transactions in South Africa with important fund raisings for Bridge Taxi Finance and Retail Capital, the sale of Nedan Oil and the sale of Baxi to MFS Africa. Verdant Capital has successfully raised ZAR 300 million (approx. USD 20 million) in debt financing for Bridge Taxi Finance from a small group of leading international impact investors. The funding will be used to grow the institution’s lease portfolio. In addition, Verdant Capital has raised ZAR 150 million (approx. USD 10 million) in debt funding for Retail Capital, a leading technology-enabled SME-financer. The first tranche of ZAR 50 million was drawn in October and the balance of which will be drawn in 2022. Bridge Taxi Finance, based in Sout...