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 [...]Dollar Shortage puts Nigeria's Frontier's Market at Risk
Nigeria is poised to lose its frontier market status because of persistent foreign-exchange shortages in Africa’s largest economy. MSCI Inc. is considering downgrading the MSCI Nigeria indexes to standalone markets status [...]European Union Seeks New Trade Agreements with Africa
The European Union held a vote on Thursday consideringa new reportthat would revive EU Africa trade agreements. In this paper, more equitable treatment of African nations within the context of [...]Air Tanzania to Resume Flights to China after Easing COVID-19 Restrictions
Air Tanzania Company Limited (ATCL) yesterday announced its plan to resume China flights following easing of Covid-19 restrictions. The China flights were launched in 2021. ATCL acting managing director Albinus [...]Kenya Airways Starts Ferrying Cargo on Behalf of South African Airways
Kenya Airways has started ferrying cargo on behalf of South African Airways with which it signed a pact last year to establish an Pan African airline by 2023. The pact, [...]Moringa School Closes Pre-Series A with an Undisclosed Amount from Proparco
Moringa School, a Kenyan EdTech startup focused on developing and nurturing high potential individuals in software engineering and other tech-based skills, has raised an undisclosed amount in its pre-series A [...]Relief as South Africa Drops All COVID-19 Restrictions
South Africa’s Health Minister Joe Phaahla has repealed the country’s remaining coronavirus-related restrictions, including the wearing of masks, curbs on gathering sizes and border checks for COVID-19. Phaahla earlier this [...]
