Ethiopia Announces Plans to Restructure $1 Billion of Debt
Ethiopia is in the process of restructuring an additional $1 billion of debt as it seeks to free up funds to support its economic recovery amid the global COVID-19 pandemic. [...]
Jubilee Holdings Invests KSh4.4 Billion in Uganda's Bujagali Power Plant
Jubilee Holdings has announced an additional investment of KSh4.4 billion in Uganda’s Bujagali hydroelectric power plant, Africa’s largest privately financed hydropower project. This new investment now raises its stake in [...]Sub-Sahara Africa to hit 70 million 5G Subscriptions by 2026-Ericsson
Ericsson, a Swedish multinational networking and telecommunications company, forecasts that 5G mobile subscriptions will hit 70 Million in Sub-Sahara Africa by 2026. This is according to the latest Ericsson Mobility [...]
Former IMF Official to Lead DRC's Central Bank
Marie Malangu Kabedi Mbuyi, a former IMF official, has been appointed as the new Central Bank governor in the Democratic Republic of Congo. She is the first female Central Bank [...]
Egypt's MaxAB Raises $40 Million in Series A Funding
Egypt's B2B food and grocery delivery startup, MaxAB, has raised $40 million in its Series A funding round, bringing the company's total investment to date to $46.2 million. Investors who [...]Ghana Announces Plans for a $2 Billion Social Bonds Sale
Ghana has announced plans to issue green and social bonds of up to $2 billion by November this year, making it the first African country to sell debt to fund [...]Liquid Technologies Facebook Partner to Lay 2,000 Km of Fibre in DRC
Africa’s largest fibre company, Liquid Intelligent Technologies, has partnered with Facebook to lay 2,000 kilometres of fibre in the Democratic Republic of Congo (DRC). Facebook will not only invest in [...]Anwar Soussa to Lead Safaricom's Subsidiary in Ethiopia
Anwar Soussa has been picked to lead the Global Partnership for Ethiopia, an international consortium comprising Safaricom Plc, Vodacom Group, Vodafone Group, Sumitomo Corporation and CDC Group. The company was [...]Zanzibar Woos Foreigners with Mouth-Watering Tax, Residency Plan
Zanzibar has rolled out a new tax and residency programme for expatriates to live and invest in the Tanzanian island. This move follows huge infrastructural and tourism-friendly initiatives that have [...]KCB, Equity Group On List of Africa's Top 25 largest lenders
KCB Group is placed in the first position as East Africa's largest lender according to the 2021 Top 1,000 World Banks Ranking released by The Banker Magazine. These rankings are [...]Nigeria Senate Passes Oil Industry Bill
Nigerian Senate, alongside the National Assembly, has passed a two-decade long-awaited oil industry bill that seeks to overhaul nearly every aspect of the country's oil and gas production. The Petroleum [...]Drone Delivery Startup, Zipline Raises $250 Million in New Funding
Drone delivery startup, Zipline, has raised $250 million in new funding, raising its valuation to $2.75 billion. Investors who took part in this round of funding include Baillie Gifford, Temasek [...]
