Zimbabwe's Crisis Worsens as June's Inflation Skyrockets to 191%
The latest figures from the Zimbabwe National Statistics Agency show that the country’s annual inflation rate reached 191% in June from 132% in May, a 30.7% month-on-month increase. This is the [...]
South Africa Power Cut Deepens to Worst Level Since 2019
South Africa is being hit by the worst power outages in more than two years. The state electricity company contends with multiple plant breakdowns after illegal protests followed by a [...]
G7 Unveils $600 Billion Plan for Infrastructure Projects in Developing Countries
G7 leaders have detailed plans to mobilise $600 billion in funding to fund the launch of infrastructure projects in middle and low-income countries. The plan has been pitched as a [...]Kenya's Kyanda Fintech Startup Launches Operations in South Africa
Kenyan fintech startup Kyanda, a money transfer app that aims to help users make all sorts of transactions at as low a cost as possible, has launched operations in South [...]Libya Set to Suspend Oil Exports from Key Terminals
Libya’s state oil company said it may suspend exports from the Gulf of Sirte, which contains many of the OPEC member’s main ports, in the next three days amid a [...]Nigeria's HealthTracka Raises $1.5 Million for Expansion to Kenya Ghana
Nigerian at-home lab testing startup HealthTracka has raised $1.5 million in funding to expand into Kenya and Ghana in the coming months. Investors who took part in the funding round [...]UK Guarantees $2 Billion of AfDB's Debt to African Governments
The UK has agreed to guarantee $2 billion of the debt the African Development Bank (AfDB) has extended to African governments, allowing the lender to free up finance for climate-related [...]Jubilee Allianz General Insurance, Allianz Kenya Merger Get Regulatory Nod
Jubilee Allianz General Insurance and Allianz Kenya have received a nod from Insurance Regulatory Authority(IRA) to merge their general insurance businesses. The newly formed underwriter is expected to have an [...]
Zimbabwe's Central Bank Set to Hike its Key Intrest Rate to 190%
Zimbabwe’s central bank plans to more than double the benchmark interest rate already the highest in the world to 190%, a member of its monetary policymaking committee said, [...]Kazera to Acquire Majority Stake in Great Lakes Graphite for KSh 108.2m
Kazera Global, a UK company, has signed a deal to acquire a 71% stake equivalent to KSh 108.2 million (£ 750,000) in Great Lakes Graphite-a Canadian firm that has vast [...]Uganda Pumps $10 Million to South-South Project
Uganda plans to put nearly $10 million to phase III of a South-South Co-operation project that also involves the participation of China and the Food and Agriculture Organization(FAO). Kampala will [...]Yellow Secures $23M Debt Funding for Expansion
Yellow, the South Africa-based fintech startup, which delivers asset-backed finance to 200,000 households, has raised US$23 million in debt funding to scale further. In 2018, Mike Heyink and Maya Stewart [...]
