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 [...]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 [...]
