South Sudan Launches Digitel, 1st Local Telecom
South Sudan's first-ever locally-owned mobile telecom operator, Digitel Network, has launched operations in the country, aiming at fast-tracking connectivity of areas previously not served by foreign-owned telecom firms. The country's [...]
Bank of Uganda Takes Over Regulation of Mobile Money Services
The Bank of Uganda(BOU) has completely taken over the regulation of Mobile Money Services from the Uganda Communications Commission amidst anxiety and fears from customers. In June this year, the [...]
UK Other G7 Partners to Invest Over $80 Billion in Africa
The UK, other G7 countries, and multilateral partners including the International Finance Corporation, the African Development Bank, and the European Investment Bank have announced plans to collectively invest $80 billion [...]
Nigeria to Block MultiChoice Africa Over $4.4 Billion Tax Evasion Claims
MultiChoice is facing shut-down in Nigeria after the country's tax authority, Federal Inland Revenue Service (FIRS), asked lenders to freeze the company's local bank accounts over $4.4 billion tax evasion claims. The [...]Shelter Afrique Receives an Additional KSh1 Billion Investment from Kenya
Shelter Afrique has received an additional KSh1 billion investment from Kenya, representing an additional 3.9% stake. This new investment now moves Kenya’s shareholding up from 14.82% to 18.72%. Kenya’s shareholding [...]Nairobi is Top Fintech City in Africa: 2021 Global Fintech Rankings
Nairobi is the city with the largest fintech ecosystem in Africa, according to 2021 Global Fintech Rankings. Kenya's commercial nerve centre jumped 26 places upwards to rank 37th on the [...]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 [...]
