World Bank Grants $300 Million to Mozambique after 6 Years Hiatus
The World Bank has granted $300 million to Mozambique in a deal that marks the resumption of its support to the country, six years after it suspended aid following a [...]
South Africa's Central Bank Grants Financial Institutions Permission to Serve Crypto Clients
South African financial institutions will now be allowed to deal with funds linked to digital assets and shouldn't indiscriminately block all crypto clients, the country's central bank said. Banks in [...]
South Africa's Unemployment Rate Declines 33.9% in Q2
South Africa’s unemployment rate unexpectedly declined for a second consecutive quarter, even as flooding devastated a major transportation hub and electricity outages intensified. The jobless rate decreased to 33.9% in [...]Ayagigs Launches to Match Global Businesses with Africa’s Best Web3 Freelancers
Aya, the gig platform that enables global startups and Small-Medium Businesses (SMBs) to access the best vetted African skilled freelancers, has announced their public beta launch. The company acts as [...]VC Firm Microtraction Hits 1st Close of its $15 Million 2nd Fund
Microtraction, an early-stage venture capital firm that invests in African tech entrepreneurs at the pre-seed stage, has announced a $15 million first close of its second fund. Microtraction Community Limited [...]Regional Trade Council Pushes for East Africa Tax Harmonization
The East African Business Council (EABC) has this month commissioned a study on the harmonisation of excise duty in the region to bolster trade among member states. The differing tax [...]Visa Opens DRC Office in a Bid to Expand Digital Payments in the Country
Global payments technology company Visa has announced plans to establish local business operations in the Democratic Republic of Congo as it seeks to expand digital payments in the country. The [...]Egypt Maintains Lending Rate at 12.25%
Egypt's Monetary Policy Committee has maintained the deposit rate at 11.25% and the lending rate at 12.25% for a second consecutive meeting, The country's economy is reeling from the spillover [...]Emirates to Halt Flights to Nigeria from 1st September
Dubai's Emirates has announced plans to suspend flights to Nigeria from 1st September, seeking to limit further losses and impact on its operational costs that continue to accumulate in the [...]Ghana Raises Benchmark Rate to 22%-Biggest Hike Since 2002
Ghana’s central bank increased its benchmark interest rate by its biggest margin to tame inflation and stabilize the nation’s tumbling exchange rate at a special monetary policy meeting. Policymakers raised [...]Uganda set to buy emergency short term power from Kenya
Uganda has announced it will purchase an emergency short term power of 60 megawatts from Kenya to stabilize supply after last week's heavy rains led to a shutdown of its [...]Cross Border Social Fintech Changera Relaunches with Virtual Accounts and Dollar Cards
Cross-border social fintech “Changera” has announced a relaunch of its product with new features including virtual domiciliary bank accounts and as well as an overhaul of its brand identity. The [...]
