Nigeria DRE Fund Reaches Commercial Launch Milestone, A Model for Scaling DRE Investment Across Africa

Posted on by africanretailteam | 12 Views | 19 min read

On the sidelines of the United Nations General Assembly, the Nigeria Sovereign Investment Authority (NSIA), Africa50 and Sustainable Energy for All (SEforALL) unveiled a new investment vehicle to spur renewable energy investments in Nigeria.  The [$300 million] Nigeria Distributed Renewable Energy (DRE) Fund has reached a major milestone with its commercial launch, marking the transition

MTN Group Foundation and Gates Foundation Launch First-of-its-Kind Maternal Health Multiplier Platform to Expand Access to AI-enabled Maternal Health Care in Nigeria

Posted on by africanretailteam | 31 Views | 22 min read

Partnership aims to help 500,000 women in Nigeria access higher-quality maternal health care by 2030 MTN Group Foundation (MTN) and the Gates Foundation today announced a strategic partnership to launch the Nigeria Maternal Health Multiplier, a first-of-its-kind initiative in Nigeria to improve maternal health outcomes through an integrated digital ecosystem that connects women, frontline health

Ghana’s Print Sector Expands as Retail Growth and Advertising Demand Drive Investment in Advanced Production Technologies

Posted on by africanretailteam | 2732 Views | 13 min read

Ghana’s visual communications and printing industry is entering a new phase of growth, driven by expanding retail activity, urban development, and rising demand for high-impact branding and advertising solutions.  Ghana’s retail market  was  estimated at approximately US$32 billion in 2023 and projected to reach US$54 billion by 2031 (https://apo-opa.co/4uK1j95), reflecting strong commercial expansion and consumer spending.  Outdoor advertising —

Olam Agri Commissions Ghana’s First State-of-the-Art Pasta Manufacturing Facility

Posted on by africanretailteam | 2780 Views | 22 min read

Accra, Ghana – Olam Agri has officially commissioned Ghana’s first state-of-the-art pasta manufacturing facility in Accra, ushering in a new chapter for the country’s food manufacturing sector. The US$40 million investment strengthens Olam Agri’s wheat milling and pasta manufacturing capabilities in West Africa and represents a major milestone in Ghana’s drive to deepen domestic production,

Vivo Energy Unveils VE-CEM to Power Africa’s Fleets and Equipment

Posted on by africanretailteam | 11816 Views | 10 min read

Vivo Energy, the pan-African retailer and marketer of Shell and Engen-branded fuels and lubricants, announced the launch of its new VE-CEM (Continuous Equipment Monitoring) solution, powered by Digital Twin technology from its strategic partner, Intangles. VE-CEM gives businesses unprecedented visibility of their vehicles and equipment, helping them predict and prevent breakdowns before they occur. By harnessing real-time

Heifer International Calls for Stronger Local Partnerships to Transform Agriculture in Africa

Posted on by africanretailteam | 6601 Views | 17 min read

During the Africa Food Systems Forum in Dakar, Heifer International urged governments, donors, investors, and development partners to deepen their commitment to local partnerships that can accelerate agricultural transformation across the continent. The organization emphasized that when governments, smallholder farmers, youth innovators, cooperatives, and the private sector work together with the development sector, Africa can build stronger

Shoprite Plans to Exit Ghana and Malawi

Posted on by africanretailteam | 10313 Views | 5 min read

South Africa’s biggest grocery retailer Shoprite Holdings said on Tuesday it is selling its operations in Ghana and Malawi, marking another step towards consolidation of its activities across Africa to focus more on its home market. The supermarket retailer had expanded extensively in Africa, surpassing rivals such as Pick n Pay and Walmart-owned Massmart to become the

Coca-Cola to Sell Nigeria’s Top Juice & Dairy Maker to UAC

Posted on by africanretailteam | 7170 Views | 10 min read

The Coca‑Cola Company today announced that it has entered into an agreement to sell Chivita|Hollandia (CHI Limited) to UAC of Nigeria PLC (UAC). Chivita|Hollandia (CHI Limited) is a leading food and beverage player in Nigeria, with a portfolio across value-added dairy products, juices, nectars, still drinks, and snacks. The Hollandia brand is the market leader

Cross Switch Launches New Identity to Power Payments Across Emerging Markets

Posted on by africanretailteam | 22209 Views | 12 min read

This article was originally published on the Cross Switch website here. Cross Switch, a global payment orchestration platform built for the unique needs of emerging markets, has unveiled a refreshed brand and newly redesigned website that reflect its continued growth and expanding presence across Africa and other high-growth regions. This announcement builds on recent momentum, including

Nigerian Government to Partner Jigawa State to Boost Sugar Production

Posted on by africanretailteam | 8137 Views | 4 min read

The Nigerian Government is set to partner the Jigawa State government to scale up sugar production in the country. Minister of Water Resources and Sanitation, Professor Joseph Terlumun Utsev made this known on Wednesday in his office when the Governor of Jigawa State Umar Namadi paid him a courtesy call in Abuja. Professor Utsev who

Yanmar Teams Up with ATC Comafrique to Expand in West Africa

Posted on by africanretailteam | 8132 Views | 5 min read

Yanmar Agribusiness Co., Ltd., a subsidiary of Yanmar Holdings Co., Ltd., today announced a strategic partnership with ATC Comafrique, a leading automotive and industrial equipment distributor based in Republic of Côte d’Ivoire, to accelerate the growth of its agricultural machinery business in West Africa. The two companies reached an agreement on May 23 to collaborate

Jumia Expands Delivery Service to Nigeria

Posted on by africanretailteam | 15603 Views | 8 min read

Following success in Côte d’Ivoire, Jumia Delivery launches in Nigeria with plans to enter more key markets. Jumia, the leading pan-African e-commerce platform, announced the expansion of its logistics service, Jumia Delivery, to Nigeria. Building on its successful operations in Côte d’Ivoire, Jumia Delivery offers individuals and businesses a fast, secure, and cost-effective parcel delivery service across the

Alibaba.com and Kwik Announce Partnership to Support Nigerian Exporters

Posted on by africanretailteam | 12576 Views | 4 min read

​Alibaba.com, a world leading B2B e-commerce platform and Kwik, a leading digital platform for logistics services in Nigeria, announced a partnership to support Nigerian exporters. Kwik is now an official Authorized Channel Partner of Alibaba.com in Nigeria, the first such partnership signed by Alibaba.com in Sub-Saharan Africa. Kwik will market the Alibaba.com platform to Nigerian

ISF, AFSTA, and STAK Unite to Advance Africa’s Seed Sector and Food Security

Posted on by africanretailteam | 19586 Views | 14 min read

The International Seed Federation (ISF) has convened its Board Meetings in Nairobi, bringing together national, regional and global seed industry leaders to reinforce their commitment to Africa’s agricultural development, especially in the face of climate change and a rapidly evolving geopolitical landscape. “Africa is on the verge of unlocking the transformative power of quality seeds,”

Sahel Capital Backs Nigeria’s Agriarche to Boost Farmers’ Market Access

Posted on by africanretailteam | 10494 Views | 5 min read

Sahel Capital, through its Social Enterprise Fund for Agriculture in Africa (SEFAA), has provided a $500,000 working capital loan to Agriarche, a company focused on improving market access for smallholder farmers in Nigeria. The investment aims to enhance connections between farmers and fast-moving consumer goods (FMCG) companies, strengthening Nigeria’s agricultural supply chains. Agriarche plays a

Jumia Choses Agility Logistics Park-Ghana for E-Commerce Fulfilment

Posted on by africanretailteam | 21312 Views | 8 min read
Jumia

Jumia, the leading Africa e-commerce platform, has chosen the state-of-the-art Agility Logistics Park (ALP) in Tema, Ghana, to be its new nationwide fulfilment operations centre for Ghana. Jumia will occupy 6,000 SQM of warehousing at the park, using the facility for storage, fulfilment and office space under a 10-year lease agreement with ALP. The facility

Tendo Technologies Acquires Shopa to Transform Africa’s Supply Chain

Posted on by africanretailteam | 17171 Views | 10 min read
Tendo Technologies

Tendo Technologies Limited, a pioneering online retail platform empowering African entrepreneurs, officially announces its strategic acquisition of Shopa, a leading provider of comprehensive commerce solutions for informal retailers across Ghana. This landmark deal, structured as a combination of cash and stock, is set to redefine the supply chain landscape in Africa. Shopa’s large network of

Jumia, the African Online Retailer, Is Set to Exit South Africa and Tunisia.

Posted on by africanretailteam | 38751 Views | 7 min read
Jumia

Jumia, the Africa-focused e-commerce retailer, will close its South African online fashion platform Zando and its Tunisian operations by year-end to concentrate on other markets, the CEO told Reuters. Jumia is aggressively cutting costs to try to turn profitable, including by reducing head count, exiting everyday grocery items and food delivery and cutting delivery services

IFC and Absa Provide Trade Facility to Valency to Support Thousands of Farmers in Africa

Posted on by africanretailteam | 33829 Views | 11 min read
IFC

IFC, a member of the World Bank Group, and Absa Group Limited, a South Africa based bank, acting through its Corporate and Investment Banking division (Absa), will provide a commodity trade finance facility to Singapore-based Valency International Pte Ltd, a key player in Africa’s agricultural commodities market, to support the company’s pre-export of agricultural commodities

Olam Agri Set to Transform Ghana’s Pasta Industry With New Production Facility

Posted on by africanretailteam | 17358 Views | 11 min read
Olam Agri

Olam Agri, a global leader in food and agriculture, is set to transform the pasta market in Ghana with the construction of a new state-of-the-art pasta production facility and the expansion of its wheat flour production capacity. The facility is planned in two phases, and when completed will have the volume capacity potential to meet

Africa Is Leapfrogging Into the Future of Retail – Africa Business

Posted on by africanretailteam | 39623 Views | 21 min read

The bi-annual Global Retail Development Index (GRDI), which is a study of the global retailing landscape has revealed Africa is poised to move away from traditional retail models and become the fastest-growing, richest, and most sophisticated market in the world. Prashaen Reddy, a partner at management consulting firm Kearney says that this is thanks to

Vivo Energy Ghana Welcomes Jean-Michel Arlandis as Its New Managing Director

Posted on by africanretailteam | 23496 Views | 8 min read

Vivo Energy Ghana, the marketer and distributor of Shell branded fuels and lubricants is excited to announce the appointment of Jean-Michel Arlandis as its new Managing Director following the end-of term for Kader Maiga. According to the Executive Vice President, West Region, Franck Konan-Yahaut, this change underscores Vivo Energy’s commitment to strengthen its international operations

Keeping up With Order Fulfilment in an Always-on and Always-Growing Ecommerce World – Payments and Commerce Market Intelligence (PCMI)

Posted on by africanretailteam | 83948 Views | 14 min read

With online sales in Africa on course to top the trillion-rand mark by 2026, the race is on for ecommerce businesses to claim their piece of the pie. Research by Payments and Commerce Market Intelligence (PCMI) indicates that in the next two years the digital commerce market is expected to reach US$72-billion across South Africa,

The Future of Trade Finance in Sub-Saharan Africa Amidst Hard Currency Challenges – Bank One

Posted on by Initiator | 129386 Views | 29 min read

With foreign exchange shortages plaguing sub-Saharan African economies, Bank One’s Head of Trade, Gerald Ndosi, explains what measures can be taken to overcome US dollar liquidity challenges, promote trade finance, and foster sustainable economic growth in the region International Trade is conducted in the currencies of major economic powers, largely the US dollar, European Union

Tingg by Cellulant Automates Payments for Petrol Stations in Ghana

Posted on by Initiator | 69175 Views | 12 min read

OMCs can now track and reconcile transactions easily, increasing their operational efficiency by 50% Tingg by Cellulant In-Store solution is transforming the digital payments space in Ghana by providing Oil Marketing Companies (OMCs) with a single payment collection point across multiple payment options and channels, ensuring real-time settlement. This advancement allows OMCs in the country

Arla Foods Inaugurates State-of-the-Art Dairy Farm in Kaduna, Nigeria

Posted on by Initiator | 88461 Views | 25 min read

Arla Foods, maker of Dano Milk, has inaugurated its state-of-the-art dairy farm in Kaduna as part of the company’s efforts to ensure sustainable milk production in Nigeria. The farm located in Damau village, Kubau Local Government Area, Kaduna State, was inaugurated on Thursday, May 25, 2023, by the Executive Governor of Kaduna State, Mallam Nasir

KongaNow: Guaranteed Same Day Delivery for Launch

Posted on by Initiator | 83860 Views | 18 min read

Konga, Nigeria’s leading composite e-commerce group, after two years of extensive research and test-running, is set to further raise the bar of service delivery in the industry with the launch of KongaNow, guaranteed same day delivery of verified products, for which Konga will take complete responsibility. All you need to do is go to www.Konga.com/konga/now

RCS: The Impact of Blockchain Technology on the Retail Sector and its Role as the ‘Fuel for Africa’s Innovation Economy’

Posted on by Initiator | 47803 Views | 21 min read

During its formative years, blockchain technology became synonymous with the advent of cryptocurrency. Today, its use cases have transcended the world of finance, expanding into sectors such as retail. In Africa, its application in payment technology has demonstrated blockchain’s ability to revolutionise several touchpoints from supply chain to final sale. These developments herald good news

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

Posted on by Initiator | 50323 Views | 8 min read

Konga, Nigeria’s leading composite e-commerce platform has partnered with Verve International to reward customers with free shopping vouchers. Tagged Season of Rewards, the campaign, which kicked off on March 1, 2023 will see shoppers receive free vouchers when they shop on Konga.com with their Verve cards. The partnership underpins the commitment of both brands to

Bolt to Invest Over €500 Million in Africa Over Next Two Years as It Surpasses 1 Billion Rides on the Continent

Posted on by Initiator | 52337 Views | 13 min read

Bolt, the leading mobility app in Africa, has announced plans to invest €500 million in its operations on the continent over the next two years. The funds will be used to expand Bolt services in Africa and create opportunities for over 300,000 new drivers and couriers to join the platform in 2023. Having launched in

Africa’s Changing Shopping Trends Allow E-tailers to Meet Customers’ Evolving Expectations to Gain Long-Term Loyalty

Posted on by Initiator | 61373 Views | 17 min read

By Darijan Bošković, Sales Director: Africa at Infobip The African continent is widely considered retail’s next big gold rush, based on its population of 1.4 billion people, which includes more than 500 million internet users and over 330 million eCommerce consumers. Additionally, with 19 of the top 20 fastest-growing countries in the world, the continent’s

Tingg by Cellulant Wins Merchants Payment Company of the Year at the 2022 Nigeria BusinessDay Banks and other Financial Institutions (BAFI) Awards

Posted on by Initiator | 37229 Views | 10 min read

There are more than 400 businesses and outlets using Tingg by Cellulant’s solution across Nigeria  Tingg, Cellulant’s (https://www.Cellulant.io) acclaimed payment platform has been recognized as the ‘Merchants Payment Company of the Year 2022’, award at the BAFI Awards. The recognition was bestowed at the 10th BusinessDay Banks and other Financial Institutions (BAFI) awards event, which was

Nestlé Partners With Africa Food Prize to Strengthen Food Security and Climate Change Resilience

Posted on by Initiator | 21116 Views | 14 min read

Nestlé announced today that it is partnering with the Africa Food Prize to help accelerate the transformation of food systems in Africa, as a way of strengthening the continent’s food security and building greater climate change resilience. The Africa Food Prize awards USD 100,000 to individuals and institutions that are pioneering agricultural and food systems

Jumia Announces Leadership Changes to Support its Journey Towards Profitability

Posted on by Initiator | 19675 Views | 21 min read

New leadership appointed with a plan focused on path to profitability and e-commerce fundamentals Jumia Technologies AG (NYSE: JMIA) (“Jumia” or “the Company”) today announced the appointment of a new Management Board and Acting CEO, while Jeremy Hodara and Sacha Poignonnec, Co-CEOs, will be stepping down effective today. The Supervisory Board has appointed Francis Dufay

L’Oréal, World’s No.1 Cosmetics Brand, Finally Debuts in Nigeria Through KongaHealth

Posted on by Initiator | 25256 Views | 8 min read

L’Oréal, the world’s leading beauty company, is set to finally launch in the Nigerian market after an exclusive distribution agreement was signed with KongaHealth, a leading healthcare distribution company early last week. Headquartered in Paris, France, L’Oréal would be making a grand entry into Nigeria, with feelers indicating that the brand intends to take leadership

The effects of ”lights off” for the retail industry

Posted on by Initiator | 65231 Views | 16 min read

As we flip flop between candles powering up and diesel drumming to a now common beat – with the longest run of loadshedding in South Africa recently under our belts – the massive impact this has had on business has been nothing less than debilitating leaving our economy in a precarious position. With loadshedding recently

Nick Imudia Ends Term at Konga, Prince Ekeh Takes Over as CEO

Posted on by Initiator | 18503 Views | 10 min read

Nick Imudia, Co-Chief Executive Officer (CEO) at Konga, Nigeria’s leading composite e-commerce giant, is set to stand down from the role at the end of September 2022, after a successful term as agreed with the Board of Konga Group while Prince Ekeh, his Co–CEO who just completed his MBA from University of Oxford, England is

Jumia, Coca-Cola Partner to Provide Online Shopping to Consumers In Africa

Posted on by Initiator | 45353 Views | 7 min read

Jumia (NYSE: JMIA), the leading e-commerce platform in Africa, has today announced a partnership with Coca-Cola Africa Operating Unit to offer consumers access to Coca-Cola products from the comfort of their homes. The partnership will provide a steady supply of Coca-Cola’s beverage portfolio to consumers who prefer to shop online through the Jumia platform and

Zipline and Jumia Join Forces to Pioneer Drone Delivery of Thousands of Products to Homes Across Africa

Posted on by Initiator | 28757 Views | 12 min read

World’s leading clean, eco-friendly, automated, on-demand and instant logistics service will serve Jumia’s consumers upon launch Jumia (NYSE: JMIA), the leading e-commerce platform in Africa, and Zipline, the world’s largest instant delivery service, announced today a collaboration to deploy automated, on-demand delivery for e-commerce in Africa. Pilot program and testing were launched a few months

Sabi Opens an Office in Johannesburg to Enable the Digital Transformation of South Africa’s ZAR 157 Billion Informal Economy

Posted on by Initiator | 30621 Views | 11 min read

South Africa’s micro, small and medium-sized traders can now improve their cash flow with more reliable supply chains and better customer marketing using Sabi, Africa’s leading B2B platform for goods and services distribution. SABI is partnering with Vumele to enable and empower South Africa’s informal economy. Sabi recently opened an office in Johannesburg and already

SA Retailers Need to Adapt to the Declining Middle-class

Posted on by Initiator | 15374 Views | 17 min read

From one crisis to the next, consumer habits are changing Just as the world was returning to some kind of ‘normality’ it didn’t take long for war in Europe, surging inflation, soaring fuel and energy prices, along with severe bouts of load-shedding to cast a particularly dark shadow over the first half of 2022. Now,

Global Retail Brand LC (Les Copains) Waikiki Joins the Tingg by Cellulant Digital Payment Ecosystem in Zambia

Posted on by Initiator | 51772 Views | 15 min read

LC Waikiki customers will now be able to make payments seamlessly via mobile money in all their branches in Zambia  Cellulant (www.Cellulant.io) Zambia has signed a partnership agreement with leading fashion retailer LC Waikiki, which will enable customers to make payments from all LC Waikiki stores across Zambia through the Tingg digital payment platform. As

KongaPay at House of Lords, London, signs historic partnership with Bibimoney

Posted on by Initiator | 32243 Views | 3 min read

KongaPay, a frontline mobile money platform and a member of the Konga Group, Nigeria’s leading composite e-commerce giant, has signed a landmark deal with Bibimoney, a UK-based industry leader to expand access to financial inclusion for many in Nigeria, while also raising standards in the Fintech ecosystem in Nigeria and beyond. The iconic partnership was

Konga Food Set to disrupt Nigeria’s Online Food Delivery Industry

Posted on by Initiator | 21208 Views | 9 min read

Konga Food goes live Monday, set to raise bar in online food delivery sector Konga Food, the online food delivery arm of Nigeria’s composite e-commerce giant, Konga, is set to formally go live on Monday, May 9, 2022. The much-awaited development is bound to raise the bar of service delivery in the budding online food

TradeDepot Acquires Accra-based Green Lion to Accelerate Expansion Across Ghana

Posted on by Initiator | 14523 Views | 10 min read

TradeDepot, the leading B2B eCommerce and embedded finance platform in Africa, has announced the acquisition of Green Lion, the biggest and fastest growing B2B eCommerce platform in Ghana, to accelerate the delivery of its services across the country. Founded in 2018, Green Lion has been committed to revolutionising access to essential goods and services, and

Konga set to Dominate E-commerce in Africa – Forbes

Posted on by Initiator | 19899 Views | 13 min read

Forbes hails Konga as beautiful bride of African e-commerce Konga, Nigeria’s leading omnichannel e-commerce group has been identified as a strong player on the verge of dominating the African e-commerce scene. Forbes, a globally renowned media company, focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle, revealed this in a special feature published in its

Smollan | Rise of M-Commerce in Africa

Posted on by Initiator | 27961 Views | 22 min read

There has been a shift from desktop to mobile as Africa embraces the m-commerce shopping experience. Smollan, retail specialist, unpacks what m-commerce means to the African retail market and what retailers need to do to stay relevant and benefit from this movement. In these quick-connection times, Africa’s mobile economy is on the move as shoppers

Woolworths Achieves 100% Responsibly Sourced Cocoa Target

Posted on by Initiator | 23707 Views | 9 min read

Chocolate, often referred to as the ‘food of the gods’, is undoubtedly one of our most favourite indulgent treats. But in recent years, as global supply chains have become more transparent, long-standing issues in the cocoa farming industry have come to light, including deforestation and the generational impoverishment of cocoa farming communities. Cocoa is a

Konga Rolls Out Free Delivery For Shoppers

Posted on by Initiator | 19763 Views | 10 min read

Konga, Nigeria’s leading composite e-commerce giant, has rolled out a free delivery campaign that has heightened excitement among shoppers on its platform. Tagged “It’s the season of Love”, the Konga free delivery offer kicked off on Monday, January 24, 2022. Feelers reveal there is palpable excitement among shoppers, many of whom have wasted no time

Nampak Announces Results for the 12 Months to 30 September 2021

Posted on by Initiator | 40453 Views | 34 min read

Highlights Revenue up 24% to R14bn Operating profit before net impairment losses up >100% to R1.2bn Trading profit up 109% to R1.4bn Cash generated from operations before working capital up 133% to R1.7bn Earnings of 32.1cps and headline earnings of 62.3cps, both up >100% Net debt:EBITDA 2.74 times; EBITDA:interest 4.79 times; complied with covenants Erik