Ethiopians in diaspora allowed to invest in banking, insurance sectors after a precedence setting court victory in 2017 by Sophia Bekele

“Sophia took up the gauntlet and headed to the court to vindicate her right” The National Bank of Ethiopia (NBE), the agency in charge of regulating the financial sector of the country, will soon introduce a new regulation that will allow Ethiopians in the diaspora to invest in the financial sector that includes banking, insurance and micro finance. The Council of Ministers during its extraordinary meeting approved the Draft Banking Business Proclamation, allowing Diaspora citizens to establish banks in Ethiopia. This was indicated by Yinager Desse (PhD), Governor of NBE,…

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Second Edition EurAfrican Forum 2019 to take place in July themed, Partnership of Equals: Sharing Values, Sharing Prosperity

EurAfrican Forum, an action-oriented platform that aims to foster stronger collaboration between Europe and Africa, has been scheduled for July 219. The second edition is themed “Partnership of Equals: Sharing Values, Sharing Prosperity” – a new approach and paradigm for the relationship between Europe and Africa, changing the narrative for both continents to create an accountable, prosperous and sustainable future together. The Forum is a networking and discussion platform underpinned on the power of Diasporas for connecting people, cities, regions and continents. By invitation only, EurAfrican Forum’s event gathers prominent…

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Kenya accounts for 60 per cent of private equity investments to East Africa

Banking Crisis

Kenya accounted for more than half of funds pumped into the region by private equity (PE) and venture capital firms. A new report shows that Kenya received 59 per cent of the funds that private equity firms pumped into the region between 2013 and 2018. The report by the Africa Private Equity and Venture Capital Association (AVCA) indicates that there were 110 reported deals during the five years valued at Sh130 billion. Most of the money was invested in the consumer goods and technology sectors. Reports have in the recent…

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Founding DG of Kenya’s Vision 2030 secretariat Mugo Kibati, takes over at Telkom Kenya

artificial intelligence

Telecommunications company Telkom Kenya has appointed Mugo Kibati as its new chief executive officer, taking over from Mr Aldo Mareuse. Announcing the change, Telkom Kenya board chair Eddy Njoroge said the firm was grateful to Mr Mareuse for his successful leadership for the period he has been with the company. “Notable milestones achieved during his tenure include the expansion of the company’s network by over 50 per cent, successful rebranding of the company to Telkom and rolling out of a 4G network, resulting in the company becoming the data operator…

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Facebook institutional investors want Zuckerberg ousted as chairman

Amidst increasing incidences of data breaches such as the Cambridge Analytica scandal that saw the personal data of 87 million Facebook members used without permission, to Russian sourced posts aimed at influencing the midterm elections, a report from Reuters states that four institutional investors in Facebook are looking to have Zuckerberg replaced by an independent chairman. A similar proposal was defeated by stockholders in 2017. The filing asking for a vote to remove Zuckerberg was made to Facebook’s board by the state treasurers of Illinois, Rhode Island and Pennsylvania, who…

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Tech and sports titans pay tribute to Microsoft co-founder Paul Allen who has passed at 65

Paul Allen, who co-founded Microsoft Corp. with fellow billionaire Bill Gates and used the fortune he made from the iconic technology company to invest in professional sports teams, cable TV and real estate, has died. He was 65. Allen, along with Gates, helped create an entire industry selling software for a new breed of smaller, more affordable and widely accessible computers. Allen died on Monday in Seattle from complications of non-Hodgkin’s lymphoma, according to a statement from Vulcan Inc., his investment firm. Allen’s source for his varied investments and sizable…

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Sophia Bekele honoured with Champion of Development Award at the 2018 AfricaLink Solidarity Awards in Switzerland

Sophia Bekele, Founder and CEO of DotConnectAfrica Group, has been honoured with Champion of Development Award during the 2018 AfricaLink Solidarity Awards and symposium in Switzerland  for her initiative Miss.Africa Digital Initiative which hundreds of young women and girls have benefited from through training opportunities or applications supported by the Miss.Africa Seed Funding. Three other leaders and two organizations we also awarded during the same ceremony, they are: Mr. Léonard H. Bindzi, Mr. Osvaldo dos Santos Varela, Ms. Claudinah Ntini Ramosepele while the two organisations are Fund for Development and Partnership…

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Distribution Is The Real Disruption, Mobile phones game-changing agri-tech in Africa

While emerging technologies like blockchain and artificial intelligence can capture our imagination, some of the most game-changing innovations for smallholder farmers are more modest. Seeds. Roads. Electricity. While such technologies may seem mundane, they are anything but. Reaching smallholder farmers in rural areas takes a nuanced combination of appropriate innovations, sophisticated distribution systems, and a human touch. One organization celebrated for its approach is One Acre Fund, a non-profit social enterprise working with 600,000 farmers in East Africa. I spoke with Ilana Kessler, Impact Ventures Growth Director, about scaling innovative approaches to help…

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Bekele calls for the business world to balance between profit and social impact at the 2018 EurAfrican forum in Portugal

To build its social capital,”The world needs to find the right balance between profit and social impact”. Sophia Bekele Founder & CEO of DotConnectAfrica Group Joined other distinguished speakers at the one-day exclusive High-Level 2018 EurAfrican forum held under the High Patronage of the President of the Portuguese Republic, Marcelo Rebelo de Sousa and the Government of Portugal who pleaded for a “sustainable” strategy for Europe and Africa that builds bridges between the two continents This year’s forum which was organized by special invite, is themed “Crafting Coalitions for Change,…

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No VC: Facebook is not making any direct investments to African tech startups

Facebook has been scaling up its operations in Africa and engaging more intently with tech startups on the continent, but the company has decided it will not be making any direct investments, Disrupt Africa reports That is according to Julien Decot, director of platform partnerships for EMEA at Facebook, who was speaking at last week’s MEST Africa Summit in Cape Town. He said the decision not to become an investor had come straight from Zuckerberg himself. “That was a Zuckerberg decision. The way Mark thought about it was – “this…

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