Uganda introduces New Electronic Passports
Uganda has introduced an electronic passport for its citizens, becoming the first country in East Africa to do so. Those who are yet to acquire the e-passport cannot travel out [...]
Ghana Hikes Interest Rate by 200 bps to 19% as Inflation Rises
Ghana's central bank has raised its main interest rate by 200 basis points to 19% to control inflationary pressures and promote macroeconomic stability, Ernest Addison governor of the central bank [...]
KQ Suspends Ticketing Services in Malawi Over Looming Dollar shortage
Kenya Airways (KQ) has suspended ticketing services in Malawi over the country’s biting dollar shortage crisis. As a result, passengers travelling from Malawi on the airline must buy their tickets [...]Airtel Africa Recalls $505 Million Bonds to Ease Debt
Airtel Africa Plc has recalled $505 million bonds and sold off telecommunication towers in Malawi, Madagascar and Tanzania for a total consideration of $284 million as part of measures to [...]
AfDB Launches $1.5 Billion Fund to Prevent Food Shortage in Africa
The African Development Bank (AfDB) has announced a $1.5-billion fund to boost grain production to help avert potential food shortages stemming from Russia’s war with Ukraine. AfDB will use the facility to [...]IMF Delays Credit Deadline for Somalia by 3 Months
The International Monetary Fund (IMF) has agreed to delay the deadline, by at least three months, for Somalia’s credit facility in a move which could free up the country’s access to [...]Tanzania Readies for 5G Network Adoption
The government of Tanzania has announced that it is now ready to allow investment in 5G network trials, seeking to further develop its digital economy. In 2020, Vodacom said it [...]Postal Corporation of Kenya Signs Deal with Somaliland
Postal Corporation of Kenya (PCK) and Somaliland Postal Services have signed a memo to enable the two to co-operate in knowledge exchange and international mail delivery and processing across Africa. [...]Ascent Capital Acquires Majority Stake in Valley Hospital
Ascent Capital- a private equity fund, has acquired a significant equity stake in Valley Hospital Limited, located in Nakuru-Kenya. David Owino, Managing Partner of Ascent Capital Advisory Services said, “We [...]Bamba Secures $3.2M to Upscale its App
Bamba, a software firm that serves micro-merchants in Africa, has secured $3.2 million in seed funding. This will help the company scale its App and build out its team. The [...]South Africa Hikes Interest Rate to 4.75%- Highest Rate in Six Years
South Africa’s central bank raised its benchmark interest rate by the biggest margin in more than six years and signalled even higher borrowing costs are ahead, escalating its response to [...]Egypt Raises Intrest Rate 200 bps Citing Soaring Inflation
Egypt raised interest rates for the second time since March, seeking to tackle soaring inflation and restore the allure of its local debt with foreign investors amid a global wave [...]
