Dutch impact investor Goodwell Investments has made a $2-million investment in Copia, an e-commerce business that specializes in supplying products and services to currently underserved consumers in rural Kenya. According to Copia’s chief growth officer Nikki Germany, they will use the investment to increase the geographical footprint of its services to low-income consumers in the country. The firm supplies products and services to “Base of the Pyramid” (BoP) consumers using technology and a network of over 3000 local agents to deliver goods and services to about 40 000 underserved consumers in rural Kenya. Pre-paid orders take on average only two…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Leading pan-African telecoms group Liquid Telecom has unveiled Susan Mulikita as CEO of Liquid Telecom Zambia to accelerate growth and market penetration across the country. Wellington Makamure, CEO of Liquid Telecom’s Southern Africa Region said “Susan’s exceptional talent and experience will bring greater synergy to the Southern Africa region, and enable more customers to capitalise on Liquid Telecom’s connectivity, hosting, co-location and digital solutions portfolio – driving innovation and growth across the region. Susan’s appointment is particularly significant as it demonstrates Liquid Telecom’s continued focus on diversity and inclusiveness, especially at a regional level.” Susan has more than 20 years’…
Societe Generale (BRVM:SGBC) and Absa Group Limited (JSE:ABSP), have partnered in rolling out a commercial agreement and expand their activities through the development of a pan-African wholesale banking offering. The two banks announced on Friday signing of a memorandum of understanding to launch a pan-African wholesale banking offering to exploit their combined strengths on the continent. Société Générale CEO Frédéric Oudéa, says that large African companies and multinationals have increasingly sophisticated banking needs. “Joining our forces through this agreement makes perfect sense to accompany the economic development of the continent.” “The agreement we have entered into should go a long…
Geridina Johanna Maria Ten Den has been appointed the Chief Executive Officer of Limuru Tea Plc following the resignation of Nicholas Yiannakis. Geridina has over 28 experience working in Unilever and was the former procurement Director Tea- Africa. “Gerridina’s main role as the CEO is to manage risk and corporate reputation by ensuring that she prepares for approval by the Board and implementing and managing the company’s risk management approach,” the company confirmed in a statement. She will assume the role with effect from 1 March 2019.
Kenya’s foreign exchange reserves have risen by USD 64 million to USD 8.05 billion helped by dollar inflows from diaspora remittances and tightening liquidity, according to Genghis Capital data in the week ending January 18. “Usable foreign exchange reserves held at the central bank rose by USD 64Mn to USD 8.05Bn; equivalent to 5.27 months of import cover,” said Genghis Capital in their 3rd Weekly Fixed Income Report this is compared to week 2, which saw the reserves decline by USD 36Mn to USD 7.98Bn equivalent to 5.23 months of import cover. According to Genghis, the local currency remained relatively…
Cytonn Real Estate, one of the leading commercial real estate developers in Kenya has unveiled a Ksh 2.5 billion luxury residential project, as part of measures to deliver quality and aspirational real estate developments that encourage great community living. Dubbed ‘Applewood’, the development is nestled in the heart of the exclusive leafy suburbs of Miotoni in Karen, providing an opportunity to buy into a unique development in a serene environment. “Applewood was inspired by the success of our flagship development Amara Ridge in Karen,” said Edwin H. Dande, Chief Executive Officer- Cytonn Investments. “Our developments are client focused and Applewood…