Nigerian Banks Limit Foreign Currency Spending Abroad
Banks in Nigeria have suspended individual withdrawals with local debit cards abroad and toughened limits on online payments, seeking to ease foreign currency settlement risk with the country facing dollar [...]
Nigeria's Moove Raises $105 Million in Series A2 Funding
Nigeria's mobility fintech, Moove, has raised $105 million in an oversubscribed Series A2 round consisting of equity and debt. The round brings the total raised by Moove to $174.5 million [...]Can blockchain and crypto increase Financial Inclusion and end poverty in Africa?
A recent report by the World Health Organization and the World bank estimates that the pandemic pushed more than 500 Million people into extreme poverty globally as they paid for [...]
6 Nigerian Airlines Form Alliance to Improve Service
6 Nigerian airlines have come together to form an alliance dubbed the Spring Alliance', seeking to mutually support one another's operations and improve service delivery to their passengers. The objective [...]Safaricom Signs 5-Year Lease Infrastructure Agreement with Ethiopia
Safaricom has signed a five-year lease agreement with Ethiopia's state-owned power utility, Ethiopian Electric Power enterprise (EEP), to share dark fiber-optic infrastructure. The shared infrastructure will be part of Safaricom's [...]AfricaTech Awards invites applicants for its first edition
AfricaTech Awards, a pan-African initiative developed to recognize and support the most innovative and impactful tech start-ups across the continent, has announced a call for applications for its first edition. [...]
Uganda Ranks 5th in Absa's Africa Financial Markets Index 2021.
Uganda is ranking fifth with a score of 57 out of 23 countries surveyed in the Africa Financial Markets Index 2021. Absa Group survey, released on Wednesday said Uganda was [...]
AfDB Approves Borrowing Policy to Strengthen Debt Sustainability
The African Development Bank (AfDB) Group has passed a new policy aimed at strengthening debt sustainability among low-income African countries. The policy, dubbed the Sustainable Borrowing Policy, was approved on [...]Heineken to Offload 35% stake in Kenya Business to Distell
Heineken, a Dutch-based alcohol brewer will sell a 35 percent stake in its regional alcohol distribution business including Kenya to shareholders of Distell Group as part of its acquisition of [...]MTN Group Becomes the First African Company to Enter the Metaverse
MTN Group, Africa's largest mobile network provider, has emerged as the first company on the continent to buy some plots of digital land on the virtual reality world — metaverse. [...]Antler East Africa Closes Oversubscribed Fund at $13.5 Million
Early-stage investor Antler has closed its oversubscribed East Africa investment fund at $13.5 million, seeking to continue to support early-stage tech startups in the region. The oversubscribed round — the [...]Kenya Zimbabwe Sign 7 Bilateral Agreements to Boost Investments
Kenya and Zimbabwe have signed seven bilateral agreements, seeking to boost investments between the two countries. During the talks held at State House in Nairobi, the two countries signed the [...]
