Africa Business South Africa Southern Africa World 

Cannabis production as source of revenue for pandemic-stricken countries

– – Medical and adult use cannabis production could provide new sources of taxable revenue for countries seeking to recover financially in the aftermath of the pandemic. Recent legal developments in South Africa point to a growing attempt to harness the plant’s potential and ensure adequate control of the cultivation and sale of cannabis products. In April 2021, the South African Government proposed a draft national master plan with the aim of loosening regulations in the cannabis industry in order to boost economic development. The plan looks at the prospect…

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Africa Business World 

Soros Economic Development Fund acquires Mologic Ltd

– – A group of philanthropic funds and investors led by the Soros Economic Development Fund (SEDF), with support from the Bill & Melinda Gates Foundation, has announced the launch of Global Access Health (GAH), a social enterprise that will seek to expand access to affordable state-of-the-art medical technology through decentralized research, development, and manufacturing in and for the Global South. The group has financed the acquisition of Mologic Ltd, a world leading innovator in the development of lateral flow and rapid diagnostic technologies including tests that can help combat…

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Africa Business Featured Ghana West Africa World 

AfCFTA honours ex-Nigerien leader with a statue in Ghana

– – A bronze bust statue on a marble stone has been unveiled at a ceremony in Ghana’s capital, Accra to honour former president of Niger, Mahamadou Issoufou. The statue was unveiled in the presence of five African heads of state at the forecourt of the secretariat of the African Continental Free Trade Area (AfCFTA) based in Accra. Issoufou was honored for his role in getting the continental free trade deal finally activated after decades of delay and inaction. In a statement the AfCFTA secretariat and its partners said Issoufou…

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Africa Business World 

Abjel Communications is lead agency for Ghana Fintech Outlook 2021

– – Abjel Communications, one of the top 50 tech PR companies globally, has been chosen as the lead agency for the Ghana Fintech Outlook 2021, the most comprehensive mapping of the fintech ecosystem in Ghana. Ghana’s fintech landscape is evolving and fintech businesses are involved in various services including insurance, agriculture, banking, education, health, pensions and investment, among others. This report, the Ghana Fintech Outlook 2021, will provide a complete overview of the sector in Ghana. Led by Consultants at Arkel Limited, the report will provide the needed data to help quantify…

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Africa Business World 

Commonwealth countries lose $345 bln in trade due to Covid-19

– – Commonwealth countries are estimated to have lost up to US$345 billion worth of trade in 2020, including $60 billion in intra-Commonwealth trade, according to 2021 Commonwealth Trade Review on “Energising Commonwealth Trade in a Digital World: Paths to Recovery Post-COVID”. Released today, the Commonwealth Trade Review provides a timely and comprehensive analysis of the impact of the pandemic on the trade and investment flows of Commonwealth member countries. The COVID-19 pandemic has taken a heavy toll globally, substantially impacting all Commonwealth members economies and leading to US$1.15 trillion in…

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Africa Botswana Business Southern Africa World 

Botswana announces discovery of another huge diamond

– – Botswana has announced another discovery of a huge rough diamond, toppling an earlier huge discovery of the stone. The discovery on June 12 was carried out by the Canadian company Lucara and is a 1,174-carat gem. The latest discovered stone now becomes the world’s third largest diamonds. Lucara’s Managing Director, Naseem Lahri told AFP that this is a “historic discovery, for us and for Botswana as well.” “In the hierarchy of large stones, it ranks third,” she said during its presentation to the government in Gaborone. – –…

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Africa Business South Africa Southern Africa World 

Chatbots: The solution to SA’s service delivery woes?

– – Finance Minister Tito Mboweni recently said that communities and businesses are becoming increasingly intolerant of municipalities that can neither deliver basic services nor conduct their administration effectively. With lack of employee capacity being one of the root causes of poor service delivery, Kyle Oosthuizen, Chief Operating Officer at Blue Robot, believes that chatbots could be a solution. He says: “Chatbots offer municipalities a way to service more people faster, more efficiently and more cost-effectively.  Anyone who has ever had to apply for anything from a municipal or government department…

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Africa Business World 

ZEEPAY completes Series A fund-raise at $7.9 million

– – Leading Ghanaian Fintech Zeepay, has today announced completion of a USD7.9 million Series A.0 funding. The funding is a hybrid of both equity and balance sheet funds to support its operations. Zeepay enables digital remittances from the diaspora to mobile wallets, bank accounts and visa cards across 20 markets in Africa. The fundraise was led by I&P, an impact investing group with over USD250m in assets under management in the amount of USD3 million, and supported by ARK Holdings, a privately held family investment portfolio on behalf of Andrew…

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Africa Business West Africa World 

West African countries to adopt single currency in 2027

– – Ecowas leaders have agreed to now work towards launching a single currency by January 2027. The West African regional bloc had planned to adopt the currency called Eco in 2020 but said the road map was disrupted by the Coronavirus pandemic. On Saturday however the West African leaders at a summit in Ghana’s capital, Accra agreed a new road map to launch the single currency. ECOWAS Commission President Jean-Claude Kassi Brou told reporters that the pandemic meant a new strategy had to be adopted. “We have a new…

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Africa Business World 

Azimo offers free remittances amid gloomy World Bank predictions

– – Azimo, the digital money transfer service, is offering a fee-free transfer for all senders on June 16, the UN’s International Day of Family Remittances, after remittance volumes in 2020 beat expectations. The International Day of Family Remittances was launched in 2015 to raise awareness of the contribution that migrant workers make to the economies of their home countries. During 2020, despite the challenges caused by COVID-19, the total volume of remittances sent home by migrant workers fell by just 1.6%, a testament to their resilience and hard work.…

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