Barclays to Sell 7.4% Stake in Africa's Absa Group, Valued at $740 Million
Barclays Plc has announced plans to sell a 7.4% stake of Absa Group Ltd, its former African unit, valued at $740 million. The firm is placing about 63 million shares to [...]
Safaricom Signs Network Partnership Deal with Ethio Telecom
Safaricom has signed a network partnership with Ethio Telecom, granting it access to the giant network of Ethiopian State monopoly telco, and finally being able to roll out services across Ethiopia. [...]Uganda Seeks Fixed Fuel Quota from Kenya, Decrying 19% Rise in Pump Prices
Uganda has asked Kenya to allocate it a fixed monthly amount of fuel supply, seeking to alleviate shortages that have driven pump prices higher. Uganda wants 110,660 cubic meters of [...]Delta Air Lines to Finally Fly to Cape Town
Delta Air Lines is set to start flying to Cape Town, South Africa, after its application to fly a triangular route between Atlanta, Johannesburg, and Cape Town was approved by [...]World Bank Cuts Africa's Growth Forecast to 3.4%
World bank has projected Africa’s economic growth to drop to 3.4 per cent in 2022 down 0.6 percentage points from the 4.1 per cent growth recorded in 2021, due to [...]
Egypt's GB Auto to Set Up Passenger Vehicle Assembly Plant in Kenya
Egyptian auto dealer Ghabbour Auto (GB Auto), has announced plans to establish a joint venture to assemble and distribute passenger vehicles in Kenya. The firm manufactures, assembles, imports and distributes [...]Zambia Begins Mass Avocado Exports to Europe
Zambia has begun the mass avocado exports to Europe, after the country met the phytosanitary requirements to export the fruit into Europe. Permanent Secretary in the Ministry of Agriculture Green [...]Jambojet Set to Begin Flying to Tanzania
Jambojet is set to begin flying to destinations in Tanzania, after Kenya and Tanzania cut out a bilateral trade deal cutting across the aviation sector. The deal comes after a [...]Digital Bank Umba Raises $15 Million in Series A Funding
Digital banking platform, Umba, has raised $15 million in its Series A round of funding, almost two years since it raised a seed round of $2 million. Investors who took [...]AfDB Group to hold its 2022 Annual Meetings in May
The African Development Bank(AfDB) Group will hold its Annual Meetings in Accra, Ghana, between May 23rd and May 27th 2022. The Bank Group’s most important event is the Annual Meetings [...]
Union54 raises US$ 12 Million in Seed Round
Union54, a Zambian card issuing fintech, has raised US $12 Million as the firm seeks to launch an alternative to Visa or Mastercards. On the list of participants in this [...]World Bank Approves $300 Million Grant for Ethiopia
The World Bank has approved a $300 million grant for Ethiopia, seeking to help local communities whose lives have been destroyed by theTigray war. The money, disbursed under the International [...]
