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 [...]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 [...]
