Total Signs $15 Billion East Africa Crude Oil Project with Uganda Tanzania
Total has signed a $15 billion East Africa Crude Oil Project (EACOP) with Uganda and Tanzania, fifteen years after the former discovered commercially-viable crude oil deposits. The 1,445-kilometre heated pipeline [...]
Mo Dewji, Only East African on Forbes List of 18 Richest Africans
Tanzanian Billionaire and businessman Mohammed Dewji is the only East African listed on the latest Forbes list of the 18 richest Africans. The 45-year-old tycoon is worth $1.6 billion and [...]
KenGen Earns KSh440 Million from Geothermal Tender in Ethiopia
Kenya Electricity Generating Company (KenGen) has earnedKSh440.34 millionfrom drilling geothermal wells in Ethiopia. The company bagged the contract in 2019 to facilitate commercial consultancy and drilling services with Tulu Moye [...]WorldRemit Founder Ismail Ahmed Commits $500 million to Philanthropy
WorldRemit founder Ismail Ahmed has committed $500 million of his own wealth and investments to Somaliland-focused development programmes over the next 10 years. Ismail's foundation is based in London and [...]South Africa's Infrastructure Dreams are Pinned on the Demand for Green Bonds
South Africa intends to tap into worldwide demand for green bonds funds and an R2.3 trillion infrastructure program over the next. Everything in South Africa is behind schedule, from power [...]Mastercard Invests $100 Million into Airtel Mobile Commerce BV, Airtel's Mobile Money Business
Airtel Africa and Mastercard have signed an agreement in which the global payments provider will invest $100 million in Airtel Mobile Commerce BV (AMC BV), Airtel Africa's Mobile. Upon completing [...]Uganda’s Tugende Raises $3.6 Million in Series A Funding
Ugandan Tugende, a technology-enabled asset finance company, has raised $3.6 million equity financing in its Series A round of funding. Investors who took part in the round include San Francisco [...]Coca Cola Mulls Sale of its $6 Billion Africa Unit
Soft drinks giant, Coca Cola company is mulling options for its bottling business in Africa, which includes either a sale or an Initial Public Offering (IPO). AsBloombergreports, a sale or [...]AU Signs Deal with Johnson Johnson for COVID-19 Vaccines
AU (African Union) member states have signed a deal with Johnson Johnson for 400 million doses of COVID-19 vaccines. The states will first have access to 220 million doses [...]Airtel Africa Ink Deal to Sell Towers in Madagascar, Malawi to Helios for $129M
Airtel Africa has signed an agreement to sell its tower companies in Malawi and Madagascar to Helios Tower for a gross value of $108 million. The transaction, expected to close [...]AfDB Loans KSh11 Billion to Equity Group Holdings for Expansion
The African Development Bank (AfDB) has loaned KSh11 billion to Equity Group Holdings (EGH) to expand East and Central Africa. The loan further seeks to boost EGH's ability to serve [...]E-commerce Like Never Seen Before; Why The World Should Take Note of Africa
E-commerce in Africa is at the tipping point and ready for massive growth. This is according to a recent report titled E-commerce Like Never Before conducted by Dentsu advertising agency. [...]
