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  • Tanzania Breweries now partners with traditional liquor outlet owners

    TANZANIA, 2016/06/13 Tanzania Breweries Ltd (TBL) plans to expand the market for its traditional liquors Chibuku and Nzagamba, by using existing “drinking dens” as outlets and the owners as agents. TBL managing director Roberto Jarrin said integrating traditional beer makers in the business would save the brewers some of the costs of making the liquor. “This will save them time and laborious preparation of the brew as they will be selling our DarBrew brands at a profit,” he said.

  • Bahrain’s Al Baraka Islamic Bank Gets Approval to Operate in Morocco

    BAHRAIN, 2016/05/12 The Bahrain based leading Islamic banking group, Al Baraka Banking Group, will establish a banking unit in Morocco very any minute at this time, the Islamic lender said in a statement, according to Reuters. Next receiving approval from Morocco’s central bank, Al Baraka Banking Group will invest in the Moroccan Islamic banking sector by launching a new business any minute at this time.

  • Harkand: Management buyout saves US and African businesses

    UNITED STATES, 2016/05/11 A team of former Harkand executives have agreed a management buyout of the defunct oilfield services firm’s US and African businesses – giving hope that 100 jobs can be saved. The team led by AJ Jain, Harkand North America managing director, has agreed a transaction with administrators Deloitte to acquire the North American and African business.

  • FirstRand to Cut Lending in Another Blow to African Economy

    SOUTH AFRICA, 2016/03/16 Africa’s economic troubles took a turn for the worse, with the continent’s biggest bank saying it will rein in lending. FirstRand Ltd. Chief Executive Officer Johan Burger said the bank is curbing credit in response to an increase in defaults, a commodity-price slump and slowing consumer request in its biggest markets, which include South Africa, Nigeria and Zambia. “This year, we’ve taken a further decision to make further cuts on credit granting, so investment increase will drop,” Burger said Tuesday by phone. “The retail cycle has turned and the rest of Africa has as well seen some uptick in non-performing loans.”

  • Barclays Africa scaling back not linked to economic woes

    RUSSIA, 2016/03/14 Barclays's plan to scale back its Africa operations is linked to world regulatory challenges, not unfavorable economic conditions on the continent, the bank's Africa chief executive has said. "We did not make this decision because of the economic cycle," Maria Ramos said in an interview in Johannesburg. "The regulatory environment has changed globally and it's additional difficult for large banks to hold on to subsidiaries like ours," she said. The British lender early this month announced that it will sell down its 62.3 % interest in Barclays Africa to just 20 % over the next two to three years, fueling speculation over the decision.

  • Bank of Africa to begin operations in Cameroon

    CAMEROON, 2016/01/11 The Pan-African banking group, Bank of Africa (BOA) could begin operations in Cameroon in the next few weeks, its application for authorization to open a subsidiary in the major economy of Central Africa being on the “right track”, the Cameroonian Ministry of Finance announced on Tuesday. This will be so, the successful development of an application for authorization submitted in 2014 to the national monetary authority and the Central African Banking Commission (COBAC) as well, which is the regulator of the banking sector in this part of the continent.

  • Jaguar Land Rover on its business in sub-Saharan Africa

    ANGOLA, 2015/12/11 Nigeria and Angola remain two of Jaguar Land Rover’s major markets in sub-Saharan Africa, according to the company’s director of operations for the region, Nigel Clarke. This is despite both economies feeling the result of the drop in oil prices over the last year. Angola gets roughly two-thirds of its revenue from oil. The luxury car manufacturer, with its sub-Saharan headquarters in Pretoria, exports the bulk of its vehicles to eight markets in the region – Angola, Ghana, Kenya, Mauritius, Nigeria, Tanzania, Zambia and Zimbabwe. However, over the next two years Jaguar Land Rover will focus on growing its business in six smaller markets – Senegal, Côte d’Ivoire, Gabon, Congo-Brazzaville, Malawi, Mozambique – through local country partners. “Due to the expansion of our office in Pretoria and the fact a lot of of our processes and systems are presently in place, which has taken a long time, we are much additional ‘fitter’ to take on these markets.”

  • Strive Masiyiwa: If I started again I’d do agriculture, says telecoms tycoon

    ZIMBABWE, 2015/12/11 Zimbabwean tycoon Strive Masiyiwa made his money in the mobile telecoms business, but if he were to start all over again, he would bet on agriculture. Speaking at the opening of this year’s African Green Revolution Forum (AGRF) in Zambia’s capital Lusaka, Masiyiwa made a case for the opportunities in the agriculture industry. The Zimbabwean billionaire is chairman of the Alliance for a Green Revolution in Africa (AGRA), an organisation set up in 2006 to support smallholder farmers with the goal of reducing poverty and hunger.

  • Huawei plans to promote Africa’s digital economy by building a better connected Africa

    CHINA, 2015/12/10 Huawei has called for enhanced cooperation between China and Africa in building a better connected world in order to promote the digital economy in Africa. As the only representative from the Telecom industry present at the 5th Conference of Chinese and African Entrepreneurs, a side event of the Forum on China-Africa Cooperation (FOCAC), Huawei expressed its continued efforts to building a better connected Africa. During his address at the event, Charles Ding, Senior Vice President of Huawei, said, “Huawei has been focused on building a better connected Africa for 17 years. We continuously leverage our world innovation capabilities and cooperate with governments, customers, and industrial partners to increase telecom network coverage significantly to achieve a win-win cooperation. We’ve deployed additional than 50% of wireless base stations, over 70% of LTE networks and at least 50,000KM of optical fibre to provide better telecom connectivity to Africa. Connectivity is the cornerstone to the development of a digital economy in Africa. “

  • ‘I was hustling from a young age,’ says celebrated entrepreneur Julian Kyula

    KENYA, 2015/11/21 Julian Kyula is a celebrated Kenyan entrepreneur. The 40-year-old is founder and CEO of technology company Mobile Decisioning (MODE) that offers a wide array of micro-credit solutions of up to US$100, enabling additional than 350 million mobile phone subscribers to access cash and airtime via mobile money. Users can as well fasten credit to settle utility bills, which MODE due pays to the utility provider on behalf of the mobile subscriber. Founded five years ago, the company today has operations in 26 nations globally and is in the process of launching in eight new markets. The motivation to start the business was to “bring people to financial inclusion”. MODE has been recognised internationally for its innovation, while Kyula has received numerous awards inclunding the 2012 IBM World Entrepreneur of the Year Award. Speaking to How we made it in Africa, he shared his personal journey in entrepreneurship.
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