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 [...]European Union Plans to Court African Countries to Replace Rusian Gas Imports.
The European Union is seeking to step up cooperation with African countries to help replace imports of Russian natural gas and reduce dependence on Moscow by almost two-thirds this year. [...]
South Africa Factory Activity Expands at a Slower Pace in April
South African manufacturing activity expanded at a much slower pace in April, as business activity and new sales dropped following devastating floods in the KwaZulu-Natal province, a survey showed on [...]WPP ScanGroup Plc Trims Net Losses to KSh37.9M
WPP ScanGroup Plc made a net loss of KSh 37.9 Million at the close of financial year ended 31st December 2021 from a net loss of KSh 1.7 Billion in [...]Morocco Raises Minimum Monthly Wage in the Public Sector by 16%
Morocco has announced an increase in the minimum wage of public and private sector workers. The minimum monthly wage in the public sector will be raised 16%, whereas the private [...]Bank of Uganda Blacklists All Cryptocurrency Dealers
The Bank of Uganda(BOU) has warned all licensed entities under the National Payments Systems Act to desist from facilitating crypto-currency transactions. “We have noted press reports and adverts advising the [...]Zanzibar Projects a 6.8% Economic Growth in 2022
The economy of Zanzibar is projected to grow by 6.8 per cent in 2022 a massive improvement from the 5.1 per cent recorded in 2021. When presenting the budget Vice [...]We-Fi Announces $15 million Funding for Women Digital Inclusion in Africa
We-Fi (Women Entrepreneurs Finance Initiative (We-Fi) has approved a $15 million facility Africa Digital Inclusion Facility (ADFI). The ADFI is a project of the African Development Bank. The funding seeks [...]Senegal to Invest its Sovereign Wealth Fund in Neighbouring Countries
Senegal has announced plans to invest its sovereign wealth fund in neighbouring countries when it receives part of its oil and gas revenues from new fields. The $25 billion economy, [...]
