PEG Africa raises $5 million for expansion in West Africa

AfricaBusinessInvestingRegionsPEG Africa raises $5 million for expansion in West Africa

PilotnewsJanuary 21, 2020

PEG Africa, a pay-as-you-go solar company based in West Africa, has recently raised $5 million from ElectriFI in order to continue its expansion in existing markets. PEG Africa finances and deploys solar energy to SMEs and households in West Africa. PEG Africa, via its PAYG financial model, allows customers to replace their spending on substandard-quality polluting fuels like kerosene and diesel with solar energy. PEG Africa currently serves 400,000 daily users in Côte d’Ivoire, Senegal and...

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How to leverage the Africa-China relationship for growth

AfricaBusinessMoneyHow to leverage the Africa-China relationship for growth

PilotnewsJanuary 21, 2020

Africa is the world’s youngest continent. That’s a double-edged sword. Though a young population is the backbone of the economy, without education and jobs, it inevitably leads to instability. As our relationship with China deepens, we can draw some lessons from that country’s experience of educating its young people. One of China’s great success stories is poverty alleviation. A staggering 850 million people have been lifted out of extreme poverty, a feat never before seen...

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Nigeria: how fake representatives of a Qatari sovereign wealth fund fooled oil explorer Lekoil

BusinessMoneyNigeria: how fake representatives of a Qatari sovereign wealth fund fooled oil explorer Lekoil

PilotnewsJanuary 19, 2020

A fraudulent loan and a bogus consultancy firm have put a damper on Nigerian oil producer Lekoil which, since it discovered and announced the fraudulent nature of an $184m loan arrangement with the Qatar Investment Authority, has suffered heavy losses on the London Stock Exchange, where its market cap fell £35m ($45.6m) in less than a week. Lekoil Limited shares plummeted more than 70% on 14 January on London’s Alternative Investment Market (AIM), with shares...

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Historic moment at Houston’s IAH as Ethiopian Airlines launches nonstop Africa flights to African nations

BusinessHistoric moment at Houston’s IAH as Ethiopian Airlines launches nonstop Africa flights to African nations

PilotnewsDecember 17, 2019

The first Ethiopian Airlines flight, Boeing 787 Dreamliner, landed in Houston’s George Bush Intercontinental Airport (IAH) yesterday, December 17, 2019, marking a historic moment–the beginning of a new service route connecting Houston to sub-Saharan nations.  The new service will operate three times per week beginning with a nonstop route connecting IAH to Lomé–Tokoin Airport (LFW) in Lomé, the capital of Togo in West Africa. At a colorful event at the Arrival Terminal hub of the...

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