Wealthy Africans Worth a Total of $2.1 Trillion in 2021
Wealthy Africans, made up of multi-millionaires, billionaires, millionaires, and centi-millionaires, had private wealth, made up of equities, cash property and business interests, reaching a total of US$ 2.1 trillion in [...]
Kenya Set to Access Sudan Tea Market
Kenya is now set to access Sudan's tea Market after the three-year standoff between the two countries over the shelf life of tea was fully resolved, paving the way for [...]
Cost of Imported Meat, Dairy and Alcohol set to Rise as EAC Agrees on 35pc Common Tariff
Imports to the East African Community (EAC) are now set to attract a maximum tax of 35 per cent after all partner states settled on the Common External Tariff (CET) on [...]Uganda Adamant on Issuing Fuel Subsidy amidst Hiked Prices
Uganda has remained adamant on introducing fuel subsidy even amid hiked pump prices following supply disruptions partly caused by Russia’s invasion of Ukraine. Moses Kaggwa, an acting director at the [...]
Fuel Prices in Tanzania Hit New Record High
Fuel prices in Tanzania have hit a new record high, with the Energy and Water Utilities Regulatory Authority (EWURA) attributing about 93% of the latest price changes to rising world [...]KCB Set Open New Subsidiary in Rwanda
Kenya Commercial Bank (KCB) Group has announced plans to open a new subsidiary in Rwanda, seeking to double its regional business in the next two years and support economic expansion [...]HAVAIC Closes $20 Million Fund for Investment in Early-Stage Tech Companies
South Africa-based VC firm HAVAÍC has announced the third and final close of the HAVAÍC Universum Core African Fund, a $20 million fund that will invest in early-stage technology companies [...]Bitcoin Adoption by Central African Republic Raises Economic Concern- IMF
The Central African Republic’s adoption of Bitcoin as legal tender presents a series of challenges for the country and the region, the International Monetary Fund (IMF) as reported by Bloomberg. Last week, [...]Coca Cola Postpones its $3 Billion IPO to Q3 2022
Coca Cola has postponed its estimated $3 billion initial public offering (IPO) for its African bottling to the third quarter of this year, after market turmoil linked to the war [...]Sanlam and Allianz Announce Merger Plan to Create Largest African Insurance Group
Sanlam, one of Africa's largest non-banking financial services companies, and Allianz, one of the world’s leading insurers and asset managers, have agreed to combine their current and future operations across [...]
African Banker, Backbase Release Report on Digital Banking
African Banker magazine and Backbase, the leading Engagement Banking Platform, have partnered to produce the 2nd edition of a report on African Digital Banking. African Banker’s editorial team surveyed more [...]TotalEnergies Seeks Exit from Joint Ventures in Nigeria
TotalEnergies has announced plans to sell its minority stake in an onshore oil-producing joint venture in Nigeria. This will be the latest divestment of Nigerian oil assets by an international [...]
