The International Finance Corporation (IFC) has announced that it invested over $1 billion in the telecoms, media and technology (TMT) industry in emerging markets in the last fiscal year that…
Global insurance solutions firm Linkham Group based in the UK has officially confirmed completing a deal that will see them acquire a significant stake in Resolution Insurance Kenya. The deal…
The UK, other G7 countries and multilateral partners are set to invest $80 billion in the private sector across Africa.
The investment is aimed at creating jobs, boosting economic growth, help…
Uganda has completely separated mobile money services from the regulation of the Uganda Communications Commission to the Bank of Uganda (BOU).
Under the new regulations, three companies were licensed to conduct…
Liquid Technologies Africa's largest fibre company has partnered with Facebook to build an extensive long haul and metro fibre network in the Democratic Republic of Congo (DRC).
The metro fibre network…
Anwar Soussa has been picked to lead the Global Partnership for Ethiopia, an international consortium comprising Safaricom Plc, Vodacom Group, Vodafone Group, Sumitomo Corporation and CDC Group. The company was…
The United Nations Conference on Trade and Development (Unctad) report shows foreign direct investments (FDI) into Africa fell by $7 billion in 2020. The foreign direct investments dipped to $40…
Total SE has awarded the $1.9 billion deal to construct its Lake Albert oil production Tilenga project in Uganda to a consortium led by British and Chinese firms.
Total, the lead…
The Ethiopian government is inviting international investors to express interest in its telecommunications company, Ethio-Telecom.
According to a statement issued by the ministry of finance, Ethiopia is now ready to release…
South Africa has agreed to sell a majority stake in the country’s grounded national carrier South Africa airways, to a local jet-leasing company and private equity firm, ridding the government…
The Sub-Sahara economy growth forecast is projected to resume to 2.8% this year and firm to 3.3% in 2022, underpinned by stronger external demand, mainly from China and the United…
The East Africa Community member states have announced plans to explore the potential of a central bank digital currency (CBDC) as a shared payment system.
A Central Bank Digital Currency (CBDC)…
The African Development Bank Group and the Government of Tanzania have signed loan agreements totalling $140 million to finance the construction of the 50-megawatt Malagarasi hydropower plant in Western Tanzania.
The…
The Bank of Ghana has revealed it is in the advanced stages of introducing a digital currency, the e-cedi.
A Central Bank Digital Currency (CBDC) is the digital form of a…
The Bank of Uganda has announced a split of mobile money into a stand-alone business, regulated as a financial service, a move aimed at separating the service away from telecom…
A license to operate telecommunication services in Ethiopia has been awarded to Kenya’s telco giant Safaricom in a consortium made up of Vodafone, Japan’s Sumitomo and UK finance agency CDC…
Access Bank, Nigeria’s largest lender, has completed the acquisition of Mozambique’s African Banking Corporation, another milestone achievement in Access Bank’s expansion goals.
This would be Access Bank’s fifth acquisition in almost…
Salaam African Bank, the leading bank by branch network in Djibouti, has acquired 100% ownership in Kenya’s Uwezo Microfinance Bank, giving the lender a presence in Kenya’s banking industry. The…
The Kenya Civil Aviation Authority has suspended all flights to and from Somalia. In a notice issued to airmen on Tuesday, the Kenya Civil Aviation Authority said it had suspended…
Shelter Afrique, the Pan-African housing development financier, has inked an MoU with Triangle Real Estate, a Juba-based real estate firm to develop 26,000 housing units for South Sudan's military, through…
Kenya and Tanzania have signed a multimillion-dollar deal for a gas pipeline that will run between the coastal cities of Mombasa and Dar es Salaam.
Tanzanian President Samia Suluhu made her…
Tanzania is looking forward to signing for a $30 billion Liquefied Natural Gas (LNG) project within six months after the country’s president Samia Suluhu Hassan called for a resumption of…
Absa Group has announced the resignation of the Group Chief Executive Daniel Mminele.
In a statement issued by the group, Absa said they had reached an agreement with Daniel Mminele to…
KenGen Plc, the company carrying out the field work, has just completed the first geothermal drilling at the site in the Oromia region of southwest Ethiopia
For container traffic, the Port of Mombasa recorded a positive increment of 31,261 TEUs or 30.4% to register 133,904 TEUs in March 2021 against 102,643 witnessed in March 2020.
The Nigeria Securities and Exchange Commission has banned the trading of unregistered foreign securities.
In a statement issued on Thursday, the securities said their attention had been drawn to the existence…
Kenya’s capital Nairobi has emerged as the most innovative city in Africa according to Horizons Report 2021/22, an annual global report released by London Based real estate consultancy group, Knight…
Central Bank of Nigeria has said the country’s citizens were free to use bitcoin and other cryptocurrencies and that all it has done is to prohibit their usage within the…
The African Development Bank has been ranked as the world’s Best Multilateral Financial Institution for 2021 by the world-renowned American Magazine, Global Finance.
Global Finance names the World’s Best Investment Banks every…
The Nigerian Stock Exchange’s demutualization plans brings this aspiration to a successful conclusion in a process that included the passage of the demutualization Act.
South Africa’s (SA) economy contracted the most since 1946 as restrictions to curb the spread of the coronavirus pandemic ravaged output and disrupted trade.
Gross domestic product in SA shrank 7%,…
The African Development Bank (AfDB) has approved two grants for research that will increase African women’s access to a range of digital financial services.
Sudan’s Central bank devalued its currency on Sunday, announcing a new regime to “unify” official and black-market exchange rates
Kenya recorded a jump in the EAC intra-trade during the third quarter of 2020, as the COVID-19 pandemic paved the way for intra-regional trade growth.
Kenya's total volume shipped to East…
Equity Banque Commercial du Congo (Equity BCDC) on Thursday launched its new identity following the successful merger of Equity Bank Congo (EBC) and Banque Commerciale du Congo (BCDC), to form…
The World Bank has suspended a $100 million payment to the Democratic Republic of Congo that was meant to support the country's education system.
In June 2020, the World Bank's Board…
Ethiopia has announced plans to seek a restructuring of its sovereign debt under a new G20 common framework.
In November, G20 nations came to a common approach for the first time,…
Airtel Africa, a subsidiary of Bharti Airtel is seeking to sell a minority of its stake in its mobile financial services platform, Airtel Money.
The London-listed company announced the move in…
Tanzania’s earnings from gold exports rose 34% in 2020 to $ 2.95 billion from $ 2.21 billion recorded in 2019 . In the latest monthly economic review, the Bank of…
In a report issued by the United Nations Conference on Trade and Development (UNCTAD), Egypt has been ranked to be the highest foreign direct investment recipient (FDI) in Africa.
Egypt is reported to…
On Monday, President Joe Biden expected to sign an executive order to impose a ban on most non-U.S. citizens entering the country who have recently been in South Africa in…
The African Export-Import Bank has mobilised $1 billion for an adjustment facility to offset revenue losses for countries that lower cross-border tariffs as part of an Africa-wide free trade area.
We…
Nigeria's biggest bank Access Bank Plc, has identified eight African Countries for potential expansion so as to benefit from the African free trade pact.
The African trade pact aims to improve…
FDI contributed 62,876 jobs in Uganda accounting for (18.2%) of total jobs created, while FDI into Tanzania created 46,765 jobs accounting for 47.9% of the total jobs created.
The two leaders will now head to Lamu County to assess the progress of the Lamu Port South Sudan Ethiopia Transport corridor.
In addition to providing immediate relief and recovery support, the platform will lay the foundation for a green and inclusive economic recovery post-pandemic.
It is still not known how many customers were been impacted in South Africa and also if any other country outside South Africa might have been affected.
Alternatively, for brokers to trade they would have to have “sponsored membership” in a local market where they want to buy stocks.
In addition to receiving seed funding prizes and post-competition mentoring, AgriPitch winners will be invited to the AYAF online DealRoom, which connects expansion-ready, youth-led African businesses with global investors.
Earlier this month BOM proposed investing more than half of the country’s estimated lifetime revenue of $96 billion from the LNG field in a sovereign wealth fund that would be…
An estimated 3 million Kenyans who live abroad sent home Kes 280 billion in last year.
The devaluation of the local currency has prompted investors to inject money into listed companies. Until the end of 2019, these shares were undervalued but are now the only factors…
DTB has appealed the ruling and secured a stay of the execution of the judgement. The lawyers at ENS say until the Ham/DTB decision is set aside, it will be a…
The pound has depreciated rapidly, trading at 510 SSP for $1 on the black market, while the central bank is selling it at 167 SSP.
Airtel and MTN Uganda, as well as Stanbic Bank, were the most affected firms.
Market giant Dangote Cement Plc, which climbed 9.9%, MTN Nigerian Communications Plc, up 5.7%, and Zenith Bank Plc, which gained 9.5%, were the three biggest contributors to Tuesday’s advance
“These transactions will significantly strengthen our presence in Southern Africa and further our footprint for growth in the South African Development Community region.
Zambia said it will however pay its bondholders $0.50 per $1,000 in bond principal they hold if the debt suspension plans are approved.
Kenya Airways resumed international passenger service on August 1 with flights to Britain and Ethiopia while domestic service restarted on July 15 after the service was suspended in March to…
Despite the difficult times there has been hope for better results.
While Nigeria has embarked on gradual easing of lockdown since Q2 2020 with a N2.3 trillion stimulus intervention, economic activities are yet fully peak, indicating a muted outlook in the…
On Friday, President Felix Tshisekedi announced that his government would also tighten fiscal policy to support the currency and fight inflation.
Albert Sigei, CEO CIMERWA Plc, explained that this will be an opportunity for investors to gain exposure into the attractive cement industry with solid growth potential.
Old Mutual and Seed International said in separate e-mailed statements that they would comply with an order issued by finance minister Mthuli Ncube that they suspend trading “pending finalization of…
The budget support intervention, will help boost the Malawi National COVID-19 Preparedness and Response Plan that has been developed with multi-stakeholders including government, development partners and non-government organizations.
When you go to the market to borrow money, the market is looking at your current and past behavior
While this is not the first cross-listing the country has seen as there are a number of Kenyan firms trading on RSE, KIFC’s existence promotes such investment opportunities within Rwanda’s…
The National Bank of Rwanda (BNR) has cut the Central Bank Rate (CBR) from 5% to 4.5% to support commercial banks to continue financing the economy following recent negative economic…
World Bank is deploying up to $160 billion in financial support for developing countries over the next 15 months to help protect the poor and support businesses. On Wednesday the…
The measures are aimed at supporting interbank lending and freeing up cash in the money markets in response to “liquidity strains,” the Pretoria-based South African Reserve Bank said in a…
South Africa’s benchmark stock index plummeted to the lowest in more than six years after President Cyril Ramaphosa’s declaration of a national state of disaster over the coronavirus outbreak stoked…
Many countries across Africa have similar legislation that mandates local ownership in foreign companies, for the purpose of promoting local investment and ownership in key sectors such as telecoms.
Africa's most profitable airline company has announced that they will commence construction of Africa's largest airport in six months time. Ethiopian Airline’s chief executive officer Tewolde Gebremariam told the Ethiopian Broadcasting…
Safaricom Shares slightly rallied by 0.71% but stabilized to 28.50 this morning after news on talks to acquire stake in Ethio Telecom went public today. Safaricom's Acting Chief Executive Michael…
At the end of today's trading session on the Nairobi Securities Exchange.[09-Oct-19]
A total of 7,760,100 shares in 728 deals, corresponding to a market value of KES 241,179,647.00, were traded.
42…
Otros factores menos volátiles, como la exposición al asbesto, pueden contribuir a la existencia de cáncer digestivo. La filtración ha demostrado que los kayakistas que son leídos por su condición…
The Central Depository & Settlement Corporation will suspend most of its services for one week starting Monday 7th to Friday 11th October,2019 as it completes the transfer of user data…
Today is the last day to exchange your Kes.1,000 shilling notes as they become defective tomorrow. In a circular sent to banks this morning, Central Bank of Kenya (CBK) has…
CBK leaves lending rate unchanged at 9% after today’s Monetary Policy Committee meeting.
Moody's Investors Service ("Moody's") has affirmed Ethiopia's B1 long-term issuer and senior unsecured ratings changing the outlook on the Government of Ethiopia to negative from stable on September 20, 2019.
Moody's…
Government owned East African Portland Cement company last week issued a one month notice termination of contract for its employees in managerial positions. Managing Director Stephen Nthei told the…
Kenya Power's net earnings for the year ended June 2019 is expected to drop by over 25 per cent as compared to a similar period last year (2018).
A profit warning…