Ethiopia to Open Up its Banking Sector to Foreign Competition
Ethiopia has set up plans to liberalize its banking sector, opening up the space for Kenya's KCB and Equity Group- the two lenders on an aggressive regional expansion campaign. A [...]
Nigeria Opens Africa's Largest Fertilizer Plant for $2.5 Billion
Nigeria has opened a 3-million-tonne fertilizer plant at a cost of $2.5 billion, seeking to become a net exporter of fertilizer. The plant is the largest in Africa and second [...]
Nigeria's ThriveAgric Raises $56.4 Million in Debt Funding
Nigerian agri-tech startup ThriveAgric has raised $56.4 million in debt funding from local commercial banks and institutional investors, seeking to grow its 200,000-strong farmer base and expand into new African [...]Africa Investment Forum Yields $36.2 Billion for the Continent
The African Investment Forum organised by the African Development Bank (AfDB) in partnership with Africa Export-Import (Afrexim) Bank and African Finance Corporation has yielded a total of $36.2 billion from [...]DRC to Finally Join the East African Community
The Democratic Republic of Congo (DRC) will officially be admitted to the East Africa Community (EAC) next week, adding a 90 million market to the regional trading bloc. In a [...]
Google's Subsea Cable, Equiano, Lands in Togo
Google has landed its first submarine cable in Togo, the first nation in West Africa to introduce commercial fifth-generation mobile services. The Equiano subsea internet cable is part of Google’s [...]Ethiopia Postpones the Privatisation of Ethio-Telecom
Ethiopia has announced the postponement of the partial privatisation of state-owned firm Ethio Telecom, delaying a major step in the government’s plan to open the country’s tightly-controlled economy. In a [...]KCB Group Moves Acquisition Plans in DRC into Top Gear
Kenya Commercial Bank (KCB) Group plans to acquire a lender in the Democratic Republic of Congo (DRC), as its regional expansion plans move to full throttle. The Kenyan lender will [...]Diaspora Remittances to Kenya falls 5.1% to US$ 321.5 Million in February 2022
Diaspora Remittances to Kenya in February 2022 totaled US$ 321.5 Million compared to US$ 260.3 million in February 2021, a 23.5 per cent increase. According to the latest CBK Weekly [...]UBA Signs Partnership Deal With Cellulant
United Bank for Africa (UBA) Plc and Cellulant have signed a partnership deal that will provide digital payment services to consumers and merchants across 19 countries where UBA has a [...]Ethiopia Inks $29 Million Infrastructure Deals with Chinese Firms
Ethiopia has inked a deal worth $29.17 million with two Chinese companies to modernise the country's transport sector, with a view of maintaining its economic growth trajectory. The first agreement [...]Nigeria Issues $1.25 Billion Eurobond, the First Since the Russia-Ukraine War
Nigeria has issued a seven-year tenor $1.25 billion Eurobond at a coupon rate of 8.375%, becoming the first emerging market sovereign bond issue since invasion of Ukraine by Russia. The [...]
