AfricInvest and IFC Acquire 36% Stake in AutoXpress
AfricInvest, a leading investment platform in Africa, has acquired a 36% stake in AutoXpress, the largest importer, distributor and retailer of tyres, auto parts and accessories operating in Kenya, Rwanda, Tanzania and [...]
Angola Signs 9 Cooperation Agreements with Rwanda, Waives Visa Requirements
Rwandans travelling to Angola will not be required to have visas after the two countries signed an agreement to remove visas for diplomatic service passports as well as the ordinary [...]StanChart to Exit 7 markets in Africa, Middle East.
StanChart Bank Plc, the UK-based lender, plans to shut down its network in seven countries in Africa and the Middle East. This is as it seeks to grow its presence [...]
Ghana Inflation Rate hits 13-Yr High of 19.4%
Ghana inflation rate in March climbed to 19.4%, due to surge in the price of foodstuff, fuel and fertilizer. Authorities cite supply disruptions caused by the Russia-Ukraine crisis, for the [...]Equity to Boost Investment in DRC with $100 Million Capital Injection
Equity Group CEO and Managing Director, Dr James Mwangi has announced plans for the lender to boost investment in the DRC with a $100 million capital injection into into its [...]
Kenya Signs Agricultural Cooperation Deal with DRC
Kenya has signed an agricultural cooperation deal with the Democratic Republic of Congo (DRC), seeking to boost agricultural productivity and food security in the two countries. This will be through [...]1st Phase of Tanzania's SGR to Begin Operations at the End of April
The first phase of of Tanzania's Standard Gauge Railway (SGR) from Dar es Salaam to Morogoro is set to begin operations at the end of this month. The Tanzania Railways [...]Namibian Central Bank Hikes Key Rate to 4.25%
Namibian central bank has increased the benchmark rate by 25 basis points to 4.25%. This is the second consecutive hike by the monetary authorities to safeguard the Namibian Dollar(N$) peg [...]Tanzania's Inflation Rate Reduces to 3.6% in March
Annual inflation rate in Tanzania eased for the third straight month to 3.6 in March of 2022, from 3.7% in February reaching its lowest point since last June. Prices slowed [...]Jambojet Increases Frequency of Flights to Goma
Jambojet has increased its frequency of flights to Goma in the Democratic Republic of Congo (DRC), from the current three times a week to four times per week, starting June 2022. [...]MTN Given Green Light to Offer Banking Services in Nigeria
The Central Bank of Nigeria has given Nigeria’s largest telecommunications provider, MTN a green light to offer commercial banking services in Nigeria. This comes four months after an approval-in-principle granted to the [...]Uganda Tightens Second Hand Cars Import Rules
Uganda has tightened import conditions for vehicles aged over nine years, a move that is expected to disrupt the automobile black market in Kenya. In a new directive by the [...]
