Ethiopia Launches Major Road Project Built by Chinese in Addis Ababa
Ethiopia on Monday inaugurated a Chinese-built major road project in the capital Addis Ababa. The Alexander Pushkin Square-Gotera Interchange Road Project, which is a 3.8 km road that incorporates three [...]
Coffee Makes a Return as a Major Cash Crop in Tanzania
Coffee, which used to be black gold in Tanzania, is rebound due to rising global demand. According to global agricultural polls, there will be a shortage of over 80,000 tonnes [...]Senegal Positions Itself to Export Gas to Europe by 2024
Senegal is positioning itself as an alternative source of gas for Europe as Russia cuts supplies of the fuel. Before the Russia-Ukraine war, Russia provided as much as 40% of [...]
Ethiopia Opens its 1st Ever Free Trade Zone
Ethiopian has opened the Dire Dawa Free Trade Zone, the country’s first free trade zone that seeks to enable competition with the global trade system. The Ethiopian government said the [...]Jubilee Holdings to Get KSh270 Million from Mauritius Stake Sale
Jubilee Holdings is set to receive KSh270 million from the sale of a 54.15% stake in its Mauritian subsidiary to insurance giant Allianz SE. Allianz will acquire a total stake [...]Uganda Removes VAT on Imported Rice from Tanzania
The government of Uganda has removed the Value added Tax (VAT) on imported rice from Tanzania, with effect from 27th July 2022. The development comes two weeks after Uganda's President [...]Nigeria's Inflation Jumps to 19.6% in July
Nigeria’s inflation rate jumped from 18.6% in June to to 19.6 % in July, the highest level since September 2005 and more than double the 9% ceiling of the central [...]Uganda's Central Bank Hikes Lending Rates to 9%
The Bank of Uganda has raised interest rates for a third time to 9% from 8.5% in June, seeking to curb rising inflation. The increase takes the increase in borrowing [...]Mozambique to Begin LNG Exports in October
Mozambique has announced that it will start exporting Liquefied Natural Gas (LNG) extracted from the Coral South field, off the coast of Palma district, in the northern province of Cabo [...]Nigeria Introduces 5% Mobile Services Tax
Nigeria, has announced that it is implementing the proposed 5% tax on voice calls, mobile data and text messages, seeking to tackle a mounting fiscal crisis. The tax is in [...]Toto Consortium Makes $433 Million for Stake in Telkom SA
The South African government received an unsolicited bid for its 40.5% stake in Telkom SA from investment firm Toto Consortium, valued at $433 million. This follows an announcement that MTN Group Ltd. is [...]Sudan Secures China's Backing to Begin $640 Million Restoration of Railway line
Sudan secured Chinese backing to begin a $640 million restoration of its railway network, pressing ahead with the ambitious project despite an economic crisis worsened by last year’s coup. Authorities [...]
