American investors in Uganda for tech summit

Top American business owners and investors have arrived in Uganda ahead of the business conference with tech entrepreneurs, which will take place on August 14, in Kampala.

The delegation made up of eight venture capitalists jetted into the country Monday, include Mr. Greg Dennerlein who serves as the director Venture DNA, and Mr. Chris Paladino who is the principal at NCP Equity LCC. Continue reading “American investors in Uganda for tech summit”

Sierra Leone’s telecoms users to benefit from $100 million US investment

U.S Ambassador to Sierra Leone,  Maria E. Brewer  hosted a specially convened meeting  at the U.S Embassy in Freetown and it was disclosed during the meeting that mobile phone service provider – Africell, has secured  a $100 million financing agreement with the Overseas Private Investment Corporation (OPIC). The money  will be used to expand Africell’s operations in The Gambia, Sierra Leone, the Democratic Republic of Congo, and Uganda. Continue reading “Sierra Leone’s telecoms users to benefit from $100 million US investment”

Uber Considers Expanding into Senegal’s Capital

By Esha Sarai

But in a city full of taxis and drivers who don’t have smartphones, the San Francisco-based company will have to overcome a lot of challenges to be useful to Dakar residents and turn a profit. The city, like most African capitals, has an abundance of taxis. In most parts of the city, any time day or night, it’s easy to find a ride. But the city is rapidly expanding, and Uber says it has seen an opportunity to move in. Continue reading “Uber Considers Expanding into Senegal’s Capital”

Uber Targets Expansion In Fast-Growing West African Markets

By Alexis Akwagyiram

LAGOS (Reuters) – Global ride-hailing firm Uber Technologies Inc is in talks with regulators over plans to expand into two West African countries and provide a boat service in Nigerian megacity Lagos, a company executive has said .

In much of sub-Saharan Africa there are low levels of personal car ownership, rapidly expanding populations and a lack of efficient mass transport systems in fast-growing cities. Continue reading “Uber Targets Expansion In Fast-Growing West African Markets”

Kenyan, American team up to found a Firm Furnishing Athletes With Shoes Fit For Tracks

By AvatarJael Keya

Over decades Kenyans have dominated the tracks in most Olympic championships with most medals being brought back home.

World-over, Kenyans have been known as track kings and queens with the recent win being made by a Eliud Kipchoge who scooped the London Marathon win, two weeks ago, for a forth time as Britain’s Mo Farah finished fifth. Continue reading “Kenyan, American team up to found a Firm Furnishing Athletes With Shoes Fit For Tracks”

Microsoft to spend US$100 million on Kenya, Nigeria tech development hub

Microsoft Corp will invest US$100 million to open an Africa technology development centre with sites in Kenya and Nigeria over the next five years, the company said.

Global tech giants, including Alphabet Inc and Facebook, have been increasing investment on the continent in recent years to take advantage of growing economies with rising access rates to the internet by a youthful population. Continue reading “Microsoft to spend US$100 million on Kenya, Nigeria tech development hub”

Occidental inks deal to sell Anadarko’s Africa assets to Total

By Tom DiChristopher

Occidental Petroleum has reached a deal to sell Anadarko Petroleum‘s oil and gas assets in Africa to French oil major Total for $8.8 billion.

The agreement is contingent on Occidental first reaching an agreement to buy Anadarko and closing the deal. Occidental is competing with Chevron to acquire Anadarko. Continue reading “Occidental inks deal to sell Anadarko’s Africa assets to Total”

Reservoir Capital Corp. Enters into Memorandum of Understanding to Increase Its Nigerian Hydro Investment

  • Canadian firm wants to take full control of Kainji Dam


Vancouver, British Columbia–(Newsfile Corp. – April 16, 2019) – Reservoir Capital Corp. (CSE: REO) (“REO”) is pleased to announce that it has reached agreements in principle and non-binding Memorandum of Understanding dated April 3, 2019 with Kainji Power Holding Limited (“KPHL”) and certain shareholders (the “Vendors”) of Mainstream Energy Solutions Limited (“MESL”), pursuant to which REO proposes to substantially increase both its indirect economic interest in MESL and its direct stake in KPHL in exchange for the issuance of common shares of REO (“REO Shares”) to the Vendors and their designated beneficiaries (the “Transaction”). Continue reading “Reservoir Capital Corp. Enters into Memorandum of Understanding to Increase Its Nigerian Hydro Investment”