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Kenya

African Farmers Struggle To Feed   Continent's Booming Population

African Farmers Now Supported With Mobile Drought Insurance

Due to extreme dry weather conditions, African farmers are seriously affected by their crops failure with little or no more money to replenish their lands or support their families. With the mobile drought insurance, farmers are protected from such harsh conditions by paying a small surcharge fee upon purchase of seeds and fertilizers registered with an insurance company.

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Maersk Sealand

Maersk Buys $845 million of Africa Oil Corp. assets

AP Moeller-Maersk will buy $845 million worth of Africa Oil Corp.'s shares to revive a declining energy unit in the North Sea. According to Bloomberg Business, Maersk will buy the African oil company's onshore exploration license in Kenya, and two more in Ethiopia.

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Smartphone users

Xiaomi sold 1 million smartphones in India

Xiaomi sold 1 million handsets in the third quarter in India, which considered its second biggest market. CNET has reported that Xiaomi VO Hugo Barra considers this quarter their best quarter ever with the sales benchmarks it reported. The sales in India add a whopping 45 percent quarter-on-quarter growth for the company.

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Nestle

Nestle scales back Africa workforce

Swiss food and drinks company Nestle (NESN.VX) is cutting 15 percent of its workforce in 21 African countries, the company confirmed on Wednesday.

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Farm

Battered by falling prices, Kenya's tea farmers threaten to uproot

Emerald-colored tea bushes blanketing the rolling hills of Nandi County have long provided a livelihood for small-scale farmers, helping make Kenya one of the world's biggest tea exporters.

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MoneyGram

Kenya's Safaricom, Moneygram sign money transfer deal

Kenya's Safaricom (SCOM.NR) and U.S. company MoneyGram International (MGI.O) have agreed a deal for money to be sent from abroad to Kenya through their money transfer services, targeting more than $1 billion sent in remittances every year.

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Africa Energy

Somalia says reviewing oil deals U.N. says lack transparency

Somalia said it was reviewing several oil and gas deals that U.N. investigators say lack transparency and risk hindering development of the country's energy industry.

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Chinese Premier Li Keqiang and Kenyan President Uhuru Kenyatta

China cements deal with Kenya to fund railway construction project est. $3.8 billion

Sunday Kenya made an agreement with China to finance 90% of the 609.3 kilometer railway project in Nairobi with cost estimate of SH 327 billion or $3.8 billion.

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Uganda oil block

Nigeria-Kenya Chamber of Commerce grants 7 oil fields to NIgerian business men sparking deeper business ties in other sectors

Dr Kiprono Kittony, the chairman of the Nigeria-Kenya Chamber of Commerce, announced in a meeting in Abuja Monday that 7 of the 46 newly discovered oil fields will be granted to Nigerian business men.

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Little Sun

Bloomberg Philanthropies funded Little Sun with $5 million investment

Bloomberg Philanthropies invested $5 million in solar powered Little Sun to give those populations in the African region less expensive, clean light from the kerosene lamps they have been using.

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Business Connexion (BCX)

BCX eyes acquisitions and investment opportunities in Africa

Midrand, South Africa-based innovative business solutions integrator Business Connexion (BCX) is eyeing additional acquisitions in Ghana and investment opportunities in the Kenya and Nigeria to widen its presence in the said markets.

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Britam

Sources: Kenya's Britam to acquire 30 percent stake in Continetal Re Kenya Ltd

Kenya's Britam would acquire 30 percent stake in Continetal Re Kenya Ltd in a deal valued USD3.5 million, reported Ventures Africa.

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Radio Africa

Times Media Group acquires Radio Africa Limited in a deal valued USD18.62 million

South African company Times Media Group has acquired a majority stake in Radio Africa Limited valued USD18.62 million, reported Ventures Africa.

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Times Media Group

South African firm Times Media picks up 49pct stake in Radio Africa in $18.6M deal

Johannesburg, South Africa-based media firm Times Media Group (TMG) picked up a 49% stake in Nairobi, Kenya-based broadcasting company Radio Africa Ltd in a deal valued at $18.62 million ZAR1.58 billion.

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88mph

African startup accelerator 88mph to expand to Nigeria

Cape Town, South Africa-based startup accelerator 88mph is expanding to Lagos, Nigeria to begin a new venture with seed funding specialist L5Lab to fund startup programs.

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