Elon Musk’s artificial intelligence start-up, xAI, will be integrated into his social media platform X and also be available as a standalone app, he said on Sunday in a post. The billionaire also said xAI released its first AI model, a bot named Grok, after making it available to all X Premium+ subscribers on Friday. The start-up aims to create AI tools that “assist humanity in its quest for understanding and knowledge” and Grok has been designed to answer questions with a bit of wit.
Grok has real-time access to info via the X platform, which is a massive advantage over other models
Musk who has criticised Big Tech’s AI efforts as ridden with censorship, in July launched xAI, calling it a “maximum truth-seeking AI” that tries to understand the nature of the universe to rival Google’s Bard and Microsoft’s Bing AI.
Elon Musk
“Grok has real-time access to info via the X platform, which is a massive advantage over other models,” Musk added.
X, the social media firm formerly known as Twitter which Musk owns, is separate from xAI, but the companies work closely together. xAI also works with his electric car maker Tesla and other companies.
Last week, Musk told British Prime Minister Rishi Sunak he thought AI was “the most disruptive force in history”. The technology will be able to “do everything” and make employment as we know it today a thing of the past, Musk speculated at the first global AI Safety Summit, in Bletchley Park, England.
In 2015, Musk co-founded OpenAI, the company behind ChatGPT, which has created a frenzy for generative AI technology around the world, but stepped down from the board in 2018.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Norrsken22, an Africa-focused venture capital firm, received the backing of more than 30 unicorn founders and institutions to raise US$205-million (R3.8-billion) for new tech investments on the continent. The fund — which counts the likes of Skype’s Niklas Zennström, Delivery Hero’s Niklas Östberg and Flutterwave’s Olugbenga Agboola among its investors — is seeking the next generation of “tech giants” on the continent in sectors such as fintech, edtech and meditech, said Norrsken22 managing partner Natalie Kolbe in an interview.
Investments will largely be focused on start-ups in South Africa, Nigeria, Ghana, Kenya and Egypt, she said. We would like to build out a portfolio of about 20 investments in the beacon economies of Africa
“We have made five investments to date, including in TymeBank in South Africa,” said Kolbe. “We would like to build out a portfolio of about 20 investments in the beacon economies of Africa.”
Africa is home to the fastest-growing and most youthful population in the world, with tech-savvy youngsters increasingly tapping their smartphones for services from entertainment to banking.
Norrsken22 said it’s seeking to invest in the growth in tech businesses expected in Africa, that is fuelled by investment in digital infrastructure and smartphone adoption on the continent, said Kolbe. In addition, urbanisation and the growing need for financial and health services bring an opportunity for tech start-ups to scale, she said.
Investors
Other investors in the fund include Standard Bank Group, Norfund, British International Investment, the International Finance Corporation and the US International Development Finance Corporation.
Funding for start-ups in Africa has dwindled this year, in line with a slowdown globally. The continent attracted about $2.5-billion during the first half of the year, according to Briter Bridges. Another venture capital fund, Partech, raised more than $260-million to deploy on the continent.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
In an age where technology is rapidly reshaping the financial landscape across the globe, one African region, in particular, has emerged as a fascinating case study. The Central African Economic and Monetary Community, known as CEMAC, consisting of countries such as Cameroon, Congo, Gabon, Chad, the Central African Republic (CAR), and Equatorial Guinea, is witnessing a profound transformation in its financial sector.
Mobile Money, a digital payment system, has quietly become a formidable contender against traditional banks in the CEMAC region. With a remarkable 37 million accounts registered in 2022, it’s evident that Mobile Money is on a trajectory to revolutionize financial transactions.
Contactless Payments
The latest report published by the BEAC, the common central bank for CEMAC countries, unveils some astonishing insights. In 2022, more than 96% of all transactions in the CEMAC zone, totaling 2.3 billion operations, were executed through Mobile Money. In stark contrast, a mere 2% of transactions, comprising 48.3 million operations, were conducted using traditional bank transfers and credit cards. This trend highlights the surging popularity and adoption of Mobile Money for day-to-day financial activities.
However, the story is not just about numbers; it’s about the changing nature of financial transactions. Mobile Money predominantly caters to smaller transactions, reflecting the habits of economic agents conducting everyday business. For more substantial transactions, traditional banks still maintain their dominance, commanding 44% of transactions by value. This amounts to a staggering 48,573 billion CFA francs ($79M). Instant electronic money transfers represent 21% of transactions, translating to 23,332 billion CFA francs ($38M). In essence, while Mobile Money dominates in quantity, traditional banks continue to reign supreme in terms of larger, high-value transactions.
But what truly underscores the significance of this transformation is the sheer scale. In 2022, CEMAC was home to 498 payment service providers, facilitating a staggering 2.4 billion transactions. These transactions added up to a colossal total, exceeding 107,126 billion CFA francs ($174M).
As the global financial landscape continues to evolve, this tale from the heart of Africa offers a compelling glimpse into the dynamic interplay between technology and finance. The rise of Mobile Money in CEMAC countries serves as an important case study for the growth of fintech in Francophone Africa, shedding light on the power of digital innovation in redefining how individuals and businesses handle their finances in the digital era.
Central Africa mobile money Central Africa mobile money
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard
In a significant development, Fawry FMCG, a leading financial technology solutions provider for consumer goods companies, has announced a collaboration with the Arabian Food Industries Company, also known as “Domty,” a prominent food and beverage company in Egypt. The partnership aims to enhance electronic collection systems, drive digital transformation in the food and beverage sector, and promote financial inclusion across various sectors within the Egyptian market.
Under this agreement, representatives from Domty will be able to deposit daily collected funds from merchants at Fawry branches, covering all Egyptian governorates. This initiative aligns with Fawry’s ongoing commitment to provide advanced financial technology solutions, particularly focusing on the food and beverage industry, with the ultimate goal of transitioning towards a cashless society.
Hossam Ezz, CEO of Fawry FMCG
Fawry FMCG, as the largest electronic financial platform in Egypt, serves both consumers and companies through a vast network of service points across the country. With a reach of over 320,000 merchants and connections with more than 100 consumer goods companies, Fawry FMCG is dedicated to digitizing supply and demand processes. The objective is to create a seamless, fully digital, and cashless ecosystem for interactions between retailers, sales representatives, and consumer goods companies.
Hossam Ezz, CEO of Fawry FMCG, expressed his satisfaction with the collaboration, stating, “We are pleased to cooperate with the Arabian Food Industries Company, Domty.” Ezz reiterated Fawry’s commitment to entering into agreements that promote digital transformation and streamline electronic collection processes. Moreover, he emphasized Fawry’s intent to offer state-of-the-art financial technology solutions to simplify cash management for sales representatives.
Mohamed El-Damaty, CEO and Vice Chairman of the Board of Directors of Domty, viewed the partnership as a significant step towards digitalizing financial transactions with their extensive network of merchants and distributors throughout Egypt. El-Damaty highlighted the potential to enhance the distribution network’s efficiency and improve the performance of their sales team. He concluded by expressing their mutual aim to expand the use of cash management technology and advance financial inclusion solutions. This collaboration is poised to bring substantial changes to Egypt’s financial landscape, benefitting a wide range of stakeholders.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard
Goodwell Investments, in collaboration with social impact investors Oikocredit and Global Partnerships/Eleos Social Venture Fund (GP SVF), has injected USD 8.5 million in equity into Zambian social enterprise, Good Nature Agro (GNA). This investment is aimed at supporting GNA’s mission to empower approximately 30,000 smallholder farmers in southern Africa. GNA focuses on the cultivation of drought-resistant, early-maturing legume seed varieties such as beans, cowpeas, soybeans, and groundnuts. The company’s business model encompasses several vital components, including access to inputs, input finance, climate-smart training, and a guaranteed market for high-value produce. This comprehensive approach empowers farmers to professionalize their businesses and escape poverty. Additionally, GNA recently opened a new factory in Lukasa to expand its operations and impact.
Why The Investors Invested
Goodwell Investments, Oikocredit, and GP SVF invested in GNA for several compelling reasons. GNA aligns with Goodwell’s mission to support innovative African companies that contribute to a more inclusive society. Their initial investment in 2020 through the uMunthu I fund marked the beginning of a fruitful partnership. Over the years, GNA has consistently improved farmers’ productivity and incomes, further enhancing their access to finance. The company’s farmer-centric business model, which integrates smallholders into the agricultural value chain, has proven to deliver robust financial returns and significant social impact.
Oikocredit also saw an opportunity to support low-income African farmers in improving their livelihoods by partnering with GNA. The company’s focus on delivering improved yields and access to markets resonated with Oikocredit’s mission to fund organizations active in financial inclusion and agriculture.
Global Partnerships/Eleos Social Venture Fund witnessed GNA’s adaptability and scalability since their seed round investment in 2018. GNA’s ability to help farmers increase and diversify their incomes in the face of challenges like climate change and gender inequality impressed GP SVF. They are proud of the results achieved thus far and look forward to supporting GNA’s continued growth and impact.
A Look At Good Nature Agro (GNA)
Good Nature Agro (GNA) was founded in 2014 as a tech-enabled for-profit social enterprise. The organization’s core belief is in farmer-centric impact and the value of personal, face-to-face relationships. GNA primarily operates in southern African low-income communities, assisting smallholders in growing and marketing high-quality legumes.
GNA’s innovative business model addresses small-scale farmers’ most critical needs, including improving soil and land health, accessing the right inputs on loan, and securing a guaranteed market for their produce. The result is that GNA’s clients achieve an average income three times higher than what they traditionally earned growing maize as a monocrop.
This income boost enables them to better meet their households’ health, education, food, and other needs. With the new infusion of USD 8.5 million from investors, GNA aims to expand its client base to 50,000 farmers by 2027, deepen its engagement with clients, develop new genetics for greater yields and resilience, and continue to innovate in agricultural supply chains.
The organization’s commitment to improving the lives of smallholder farmers through sustainable, inclusive, and innovative solutions makes it a compelling investment opportunity for impact investors like Goodwell Investments, Oikocredit, and GP SVF.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard
Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, and its fund manager, Ninety One, have committed a US$31 million debt facility to Paratus Group Holdings Limited (Paratus) to finance the expansion of its fibre and data centre business over the next three years.
Ninety One acted as the mandated lead arranger of the transaction, mobilising capital from two of its funds, EAIF and Ninety One Africa Credit Opportunities, to enhance last mile connectivity and introduce more reliable internet services across three sub-regions and six countries in Africa; Angola, Mozambique, Namibia, Republic of Congo, South Africa and Zambia.
The transaction contributes to strengthening the continent’s core digital infrastructure, fundamental to building more advanced economies. The expansion of Paratus’s fibre business will include three new fibre routes connecting Walvis Bay-Johannesburg-Maputo, Brazzaville-Johannesburg-Maputo, and Luanda-Lusaka-Dar Es Salaam, adding to a fibre network of over 10,000km. The projects, linking the west and east African coasts, will enhance connectivity, data transmission and access to digital services.
EAIF’s investment will also help finance the construction of Angola’s first Tier IV data centre, Paratus’s fifth carrier neutral data centre in southern Africa, adding to its two other Tier III data centres in the Angolan capital, Luanda. The 10MW facility will position Paratus’s network in Angola as a key regional hub and capture opportunities created by the Equiano subsea internet cable, connecting Europe to Africa’s west coast.
Entrenching its presence in key markets builds on Paratus’s commitment to growing African businesses through reliable data connections and PIDG’s contribution to Sustainable Development Goal 9, to build resilient infrastructure, creating digitally-enabled economic opportunities.
Facilitating this growth is critical to unlocking the potential across Africa, where 1.1 billion new unique users must be connected to achieve universal broadband access by 2030. Building world class digital infrastructure will encourage the continent’s entrepreneurs to expand services through disruptive and high-growth businesses.
Commenting on the transaction, Sine Zulu, Investment Specialist at Ninety One, fund manager of the Emerging Africa Infrastructure Fund, said, “This financing is a key demonstration of the growing demand for connectivity and data on the continent. EAIF’s structuring expertise and ability to mobilise private capital into digital infrastructure in emerging economies has enabled finance to flow where it is needed most. The collaboration of Ninety One’s Africa Credit Opportunities and EAIF is a progressive partnership designed to deliver high-impact infrastructure projects.”
Schalk Erasmus, Chief Executive Officer at Paratus, noted, “Widening access to fibre and data centres in key African markets will progress development and inclusive growth – maximising opportunities in countries where entrepreneurial spirit abounds. EAIF and Ninety One’s commitment sends the right signal to the rest of the market and reinforces our mission to support a more connected and technologically advanced Africa.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Gozem, a startup from Togo that offers on-demand transportation, food delivery, and courier services through its app, has announced its acquisition of Moneex , a fintech company based in Benin. While the exact value of the deal remains undisclosed, Gozem’s CEO, Raphael Dana, mentioned that Moneex’s founders will become equity stakeholders in Gozem.
This acquisition is aimed at bolstering Gozem’s capabilities by integrating Moneex’s expertise. The goal is to develop a mobile wallet service, which will pave the way for Gozem to obtain a license to offer a financial service known as ‘Gozem Money’ to customers in both Togo and Benin.
Gozem positions itself as a super app, aspiring to achieve the same level of ubiquity and usage as leading Chinese apps like WeChat and AliPay. The company boasts 160,000 unique customers across four countries, including Cameroon and Gabon. Its app provides transportation options such as motorcycles, tricycles, and cars, positioning itself as the French-speaking West Africa equivalent of Uber. Gozem has secured funding of $46.6 million from various investors, including the World Bank’s International Finance Corporation.
Gozem’s CEO, Raphael Dana. Credits: Gozem
Moneex, previously focused on facilitating remittances between Europe and Benin through cryptocurrencies, changed its direction in 2022. It shifted its focus to offer multi-currency accounts to both businesses and individuals. As they were seeking investment, Gozem stepped in to acquire the company and integrate its services to enhance Gozem’s existing offerings.
This marks Gozem’s second acquisition since its launch in 2018. In 2020, the company acquired Delivroum, a food delivery service in Togo, for an undisclosed amount.
While the concept of super apps has waned in Africa in recent years, Gozem remains committed to its super app vision. Unlike Chinese-backed startup OPay, which abandoned its super app ambitions after facing regulatory challenges, Gozem continues to thrive. Motorcycles play a vital role in transportation in cities like Lome and Cotonou, serving as the backbone for services such as food delivery and courier services. These regions have effectively enforced safety regulations, making commercial motorcycle use safe and secure.
Gozem’s strategy includes offering value-added services, like providing credit to enable users to purchase cars, with the aim of attracting more users to its platform. Additionally, bringing a payments company on board to create ‘Gozem Money’ aligns with its growth plans, which involve expanding into other countries in the CFA currency region and exploring further acquisition opportunities.
Raphael Dana, the CEO of Gozem, expressed confidence in their choice to start in Togo and expand into the Francophone region, citing the attraction of currency stability. They deliberately chose a market that was not too large to facilitate learning without intense competition, as seen in larger markets like Nigeria. The CEO emphasized that the demand for on-demand transportation remains a fundamental and massive daily need in their chosen regions.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard
In a remarkable move demonstrating their unwavering commitment to the ever-evolving African job market, Socium, a startup established in 2021 by Samba Lo, has announced its expansion into Central Africa with the inauguration of a new office in Douala, Cameroon. This strategic decision marks a pivotal milestone in the company’s journey, solidifying its dedication to meeting the continent’s increasing demands for recruitment and personnel administration solutions.
Already having established offices in Senegal and Côte d’Ivoire, Socium has strategically chosen Cameroon as the launchpad for its expansion into Central Africa, citing its belief in the market’s maturity and the country’s dynamism.
To steer this ambitious endeavor, the company proudly welcomes Jordan Tchato as the Director of Central Africa. Tchato’s wealth of experience and in-depth understanding of the unique challenges of Central Africa positions him as a crucial asset in guiding Socium’s growth in this vibrant region.
With a current workforce of 25 employees, Socium stands out with its predominantly African ownership structure. Following a successful initial fundraising round of one million euros conducted between February and May 2022, the startup has extended its reach in West Africa, now operating in over 20 countries across the continent. It boasts a robust network of partners, encompassing more than 90 companies of all sizes, 25 schools and universities, and has forged close ties with active diasporas.
Among its distinguished clients, Socium serves multinational corporations such as Orange, EY, and Philip Morris, as well as national champions like Petroivoire and Azalaï. With a presence in Gabon and Cameroon, Socium aims to expand further throughout the entire sub-region. This expansion carries particular significance in a region where businesses and their employees grapple with significant organizational challenges, particularly in areas like salary administration, contracts, and validations. By embracing a comprehensive approach to human resources, Socium aspires to streamline the day-to-day operations of businesses while bolstering their ability to attract top local and international talent.
Samba Lo, the CEO of Socium, expresses his enthusiasm for this expansion, emphasizing, “Socium was conceived from our vision of a vibrant and interconnected African continent. Our presence in Central Africa signifies a major stride in realizing this vision, and we are eager to continue aiding local businesses and talents in driving growth and innovation.”
Samba Lo is the CEO of Socium. Credits: Socium
Jordan Tchato, the new Director of Socium for Central Africa, also eagerly anticipates this opportunity, stating, “It is a true honor to join the Socium team to lead the company’s operations in Africa. I am convinced that our expertise in recruitment and personnel administration will bring real added value to this burgeoning region, helping businesses and professionals fully harness their potential.”
The inauguration of the Douala office represents a significant step in the ongoing expansion of Socium in Africa, underlining its steadfast dedication to economic empowerment and connectivity on the continent. Socium positions itself as a comprehensive provider of Human Resources Information Systems (HRIS), encompassing the entire human resources cycle, from recruitment to personnel administration. The different modules have been developed by incorporating the specificities of local markets, offering a tailored solution to meet the unique needs of businesses across the African continent.
Socium is a pan-African startup founded by Samba Lo in 2021, committed to delivering innovative recruitment and human resources management solutions. With a robust network of partners and a team of dedicated professionals, Socium is devoted to driving business growth and supporting career development across Africa. Its comprehensive HRIS solution, integrating local specificities, streamlines human resources management, enhances productivity, and facilitates decision-making.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard
Wahu Mobility, a pioneering mobility company based in Accra, Ghana, has secured a strategic investment from Blue Lion, a distinguished family office affiliated with the German family-owned Schörghuber Corporate Group. The investment amount, although not disclosed, aims to enable Wahu Mobility to scale up its operations, expand its product portfolio, and extend its reach to more cities in Ghana and across Africa. This strategic infusion of capital signifies a crucial step in the company’s pursuit of creating an open e-mobility platform that connects drivers, passengers, and goods.
Why The Investors Invested:
The decision by Blue Lion to invest in Wahu Mobility can be attributed to several compelling factors. In the first place, the growing problem of urban traffic congestion in Accra and other African cities presents an urgent need for sustainable and eco-friendly mobility solutions. The introduction of Wahu’s electric bikes, with their dual-swappable batteries and impressive range of up to 140 kilometers on a single charge, addresses this issue head-on. Additionally, the bike’s versatility, offering both pedal assistance and throttle features, caters to a diverse range of riding styles and preferences, making it a practical solution for a wide array of commuters.
Furthermore, Wahu Mobility’s partnership with prominent mobility platforms such as Bolt and Glovo, offering electric bike-based delivery services, taps into the burgeoning gig economy in Africa. This not only facilitates income opportunities for drivers but also aligns with the rising demand for efficient and environmentally friendly last-mile delivery services.
In line with global trends emphasizing sustainability and eco-conscious living, Wahu Mobility’s focus on designing locally manufactured electric vehicles underscores a commitment to green transportation in Accra and the broader African continent. This aligns with Blue Lion’s investment philosophy, which likely seeks to support companies driving sustainable change.
Credits: Wahu Mobility
A Look at Wahu Mobility
Wahu Mobility, originally founded as Mana Mobility in 2022, is the brainchild of Ghanaian entrepreneurs Valerie Labi and Toni Heigl, in partnership with German automotive expert Peter Schwarzenbauer. The company later rebranded as Wahu Mobility in 2023 to reflect its vision of creating an open e-mobility platform that connects drivers, goods, and passengers. This innovative startup specializes in crafting eco-friendly fleet solutions for both riders and drivers.
The centerpiece of Wahu Mobility’s offerings is the Wahu bike, an electric bike designed to provide sustainable and affordable urban mobility in Accra and beyond. The bike is equipped with advanced features, including a dual-swappable battery, tracking device, battery management system, and a smart lock controllable via a mobile app. It can transport loads of up to 150 kilograms and offers multiple riding modes, making it suitable for both personal transport and the booming delivery sector.
Wahu Mobility’s primary markets are in Accra, Ghana, and the wider African continent. The company’s mission is to lead the transition to sustainable mobility in Africa by designing locally manufactured electric vehicles, making them accessible and affordable, and supporting a network of drivers and riders who contribute to a greener, more efficient urban transportation landscape. The company’s innovative efforts and its “Wahu e-bike” are a significant step forward in the quest for sustainable urban mobility in Africa, aligning with the global trend toward electric vehicles and environmentally responsible transportation solutions.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard
The Addis Ababa University (AAU), Ethiopia’s largest institution of higher learning has signed a scholarship cooperation agreement with China to boost education quality. The Chinese government will offer some 120 scholarship opportunities for graduate and postgraduate students from the AAU during the course of a year, according to the agreement signed between representatives of the university and the Chinese Embassy in Ethiopia.
“A very significant number of students will benefit from this particular agreement. It is an extraordinary program with a multitude of benefits to Addis Ababa University,” Samson Mekonnen, vice president for Strategic Communication and Internationalization of AAU said.
The agreement is expected to contribute to AAU’s recent endeavor as the East African country’s first-ever autonomous public university.
Attending the signing ceremony of the agreement, Chinese Ambassador to Ethiopia Zhao Zhiyuan noted that the Confucius Institute has been a presence at the AAU since 2013, providing quality Chinese language teaching services to local communities.
Besides, the Chinese embassy last year set up special scholarship opportunities at the AAU to support the students’ academic and research projects, Zhao said, adding it has also encouraged student and staff exchange programs, joint research between AAU and Chinese higher education institutions, as well as cooperation between Chinese enterprises and the AAU on graduate recruitment.
“The Chinese embassy highly values cooperation with the AAU. We will support the AAU and Chinese universities in building sister relationships. We welcome teachers and students from the university to visit and study in China to accelerate communication in development and civilization,” he said.
Noting the university’s collaboration with the Chinese embassy and China’s higher education institutions, AAU’s Interim President Samuel Kifle said “the past success stories that we have had as strategic collaboration between China and Ethiopia are expanding into education and human resource development.”
“Today’s agreement marks a special relationship between AAU and the Chinese embassy,” he said.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
