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 [...]IMF Approves $56 Billion Debt Relief for Sudan
The International Monetary Fund (IMF) has approved close to $56 billion in debt relief for Sudan, accepting the country into the Highly Indebted Poor Countries (HIPC) initiative. This is alongside [...]European Investment Bank to Invest $95 Million in Geothermal Power in East Africa
The European Investment Bank (EIB) has agreed to invest $95 million (KSh10.2 billion) in geothermal power projects in East Africa. Some of the countries set benefit from the investment are; [...]Somaliland Opens New Terminal at Berbera Port
In conjunction with Dubai Ports World (DP World), Somaliland has opened a new terminal at Berbera Port, seeking to be a major trade gateway for a landlocked Ethiopia. Ethiopia currently [...]EAC Floats $91.7 Million Budget for 2021/22 Financial Year
The East African Community (EAC) has tabled a $91.7 million budget for the 2021/22 financial year. According to the EAC council of ministers, $54.1 million (59%) will be contributed equally [...]Rwanda Legalizes Marijuana for Medical Use
The Rwanda National Assembly has passed a bill that legalizes the cultivation, processing, distribution and use of cannabis and cannabis products (marijuana) for medical use, with effect from 28th June [...]$10 Billion Bagamoyo Port to be Revived in Tanzania
Tanzania has announced plans to revive a$10 billion stalled Bagamoyo portproject on the country's eastern coast, in coordination with China Merchants Holdings International and Oman's State General Reserve Fund. Tanzania [...]
