South Sudan Gears to Import 100MW of Electricity from Ethiopia
South Sudan has signed a memorandum of understanding with Ethiopia to import hydro and other cheaper energy, bringing to birth the Grand Ethiopia Renaissance Dam (Gerd). According to the Ethiopian [...]
Turkish Airlines Launches Somalia's Only Non-Stop Flight to Europe
Turkish Airlines has launched Somalia's only non-stop flight to Europe: Istanbul-Mogadishu and Istanbul-Djibouti, replacing the former Istanbul-Djibouti-Mogadishu service. Due to coronavirus, the Turkish flag carrier operated Istanbul-Mogadishu non-stop between July and September [...]TopUp Mama Raises $1.7m to Support African Restaurants
TopUp Mama, a Kenyan startup which provides African restaurants with access to supplies, financial services and business management tools, has closed a US$1.7 million seed funding. This seed round was [...]
Africa accounts for 70% of the World's $ 1 trillion Mobile Money Market
Africa now accounts for 70% of the world’s $1 trillion mobile money value. The value of Africa’s mobile money transactions edged up 39% to $701.4 billion in 2021 from $495 [...]
Rwanda's Central Bank Maintains Lending Rate at 5 % to Control Soaring Inflation
Rwanda’s central bank has maintained its lending rate to tackle soaring inflationary pressures and support economic recovery. The central bank’s rate-setting Monetary Policy Committee (MPC) on Thursday decided to maintain [...]Interswitch Secures $110 Million Joint Investment to Scale Digital Payments
African payments company, Interswitch has secured a $110 million joint investment from LeapFrog Investments and Tana Africa Capital to scale its digital payment services across the continent. However, the exact [...]Pan-African Crypto Platform Mara Secures $23 Million Funding
Pan-African cryptocurrency platform, Mara has raised $23 million in funding, seeking to create a portal to the crypto economy for Africans. Investors who took part in the funding include TQ [...]Boost for Trade as Tanzania Cuts Road Toll Fees for Uganda Trucks by 71%
Tanzania has announced plans to cut a road toll by about 71% on the Uganda-bound cargo trucks, as part of the agreement reached during the meeting of the two countries' [...]Tanzania Seeks $1.1 Billion from IMF for Economic Recovery
Tanzania is in talks with the International Monetary Fund (IMF) for a three-year financing package of $1.1 billion, as President Samia Suluhu Hassan seeks to support the nation’s recovery from [...]Africa's Economic Recovery to Get Boost from AFC's $2 Billion Fund
Africa Finance Corporation is setting up a $2 billion fund to help institutions in Africa to recover quickly from the global coronavirus pandemic as well as overcome challenges economic arising from [...]BMIA launches Second Financial Journalism Training in Tanzania
The Bloomberg Media Initiative Africa (BMIA) has unveiled the second edition of its Financial Journalism Training (FJT) program in Tanzania. This program will train journalists and media professionals in business [...]South Sudan Urged to Implement Economic Reforms to Acess Loans
The International Monetary Fund and the World Bank have urged South Sudan to reform its institutions in order to access more loans. Addressing journalists at the weekend, Agak Achuil, South [...]
