Equity Bank Group has set up a Commercial Representative Office in Addis Ababa, Ethiopia after being granted a license to operate in the country. Hassan Maalim has been appointed as the Head of the Commercial Representative Office which will be based at Kazanchis-Addis Ababa and is expected to be fully operational in July this year. Hassan brings a wealth of experience having joined Equity Bank in 2005. He holds a Bachelor of Arts degree and an MBA in Finance. Equity Group CEO and MD, Dr. James Mwangi said, “Having completed Phase One of our expansion, the entry into Ethiopia is…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Economic opportunities for thousands of small holders across Kenya are to be transformed under a new EUR 50 million (KES5.7 billion) agriculture sector financing programme, the Kenya Agriculture Value Chain Facility, launched by the European Investment Bank in Nairobi on Thursday and supported by the European Union. The new initiative represents the first dedicated support for long-term investment by agriculture companies in Africa backed by the European Investment Bank, the world’s largest international public bank. The scheme is designed to tackle specific investment gaps currently hindering expansion in the sector. “The European Investment Bank is pleased to launch our first…
On August 1st & 2nd, 2019, business leaders, trade experts, investors, and policymakers will convene at the Trade with Africa Business Summit 2019 in Chicago Metropolitan; a vibrant trade an economic hub. The 2nd edition is themed: Growing U.S. – Africa Trade, Trade Financing & Developing Africa’s Supply Chain. Here are 5 reasons why you do not want to miss this incredible and unique event: Trade not Aid: Over the past 20 years, Africa’s policy leaders have built and strengthened political relationships in Washington, DC which has led to an overall increase in U.S. foreign Aid toward the continent. In…
London-based money remittance firm WorldRemit on Wednesday unveiled a new service that allows businesses and employees of foreign firms in Kenya to receive payment from small and medium-sized enterprises in the UK. The service dubbed ‘WorldRemit for Business’ also allows UK-registered companies to send money to contractors or staff in 149 other countries including Ghana and South Africa through its app or website. Transfers to Kenya, the firm says, will be processed within 24 hours or less and recipients can opt to have the cash wired to their bank accounts, via mobile money or cash pickup. This latest option poses…
Creating for People (Association Famille Mulliez), CREADEV a French investment firm wholly backed by the Mulliez family has acquired KSh500 million in Twiga Foods. “Creadev, a global long-term investment firm wholly funded by the Mulliez family, has today announced a secondary investment of USD 5 million in Twiga Foods, a Kenyan-based technology based B2B platform that aggregates retail demand and efficiently provides low cost access to better quality food,” said the statement announcing the deal. As part of this secondary transaction, early investors, Adolf H. Lundin Charitable Foundation, Blue Haven Ventures, Crescat Limited, Omidyar Networks, Index Ventures through Project Hand…
Blue Band manufacturer, Upfield has commenced this year’s edition the Good Breakfast Campaign to drive its commitment to tackle poor nutrition by educating school going children around the importance of a good breakfast. A white paper written by experts in 2016 highlighted the link between a nutritious breakfast and better long-term school performance in children. “The Good Breakfast Campaign” seeks to drive behavior change by creating awareness on the importance of a nutritious breakfast. Blue Band will run the Good Breakfast Campaign through a schools’ program across several schools, reaching 2 million school children directly. With the multiplier effect using…