Potential of Fintech in the E-Commerce Industry in Africa
Africa's e-commerce space is rising, thanks to the growing labour force, rising internet connectivity, continued urbanization, and the increasing power of super platforms like Jumia, Glovo, Uber and Sendy. Mobile [...]
Absa Group in plans to Sell Asset Management Unit to Sanlam
Absa Group Limited, South Africa's third-largest lender, is said to be in discussion to offload part or all of its asset-management business to Africa's largest insurer, Sanlam Limited and African [...]
Safaricom led Consortium clinches US$ 850 Million Ethiopian licence
A licence to operate telecommunication services in Ethiopia has been awarded to Kenya's telco giant Safaricom in a consortium made up of Vodafone, Japan's Sumitomo and UK finance agency CDC [...]Afreximbank Closes Record US$1.3 billion bond
African Export-Import Bank (Afreximbank) has announced it successfully closed a US$1.3 billion dual tenor bond issuance, the Bank’s largest-ever transaction in the international debt capital markets. Afreximbank printed a US$600 [...]France Announces Plans to Cancel Sudan's $5 Billion Debt
International Monetary Fund (IMF) member countries have agreed to clear Sudan's arrears to the institution, with France announcing plans for full clearance of the $5 billion Sudan owes it. This [...]KenGen's US$6.5 Million Djibouti Power Project begins Next Month
Kenya Electricity Generating Company(KenGen) is set to begin drilling works on the $6.5 Million(KSh 709.8 Million) Geothermal Power Project, starting June this year. This International contract was awarded to KenGen [...]Airtel Africa's Full-Year Net Profit Jumps to KSh44.5 Billion
Airtel Africa, a leading provider of telecommunications and mobile money services in Africa, has reported a net profit of KSh44.5 billion ($415 million) for the year that ended on 31st [...]
Uber Taxi increases prices in Kenya, Nigeria due to Driver Protests
Uber Technologies Inc. has raised fares in Kenya and Nigeria in response to demand by drivers for a higher share of commissions to compensate for increased operations costs. It added [...]Sudan's $413 Million Arrears at AfDB Cleared
The African Development Bank Group (AfDB) has cleared about $413 million in arrears on loans owed by Sudan. This follows the approval of the proposal by the Boards of Directors. [...]KQ Signs Interline Agreement with South Africa's Airlink
Kenya Airways (KQ) has signed an interline agreement with South Africa's regional airline, Airlink. The deal will enable Kenya Airways customers flying to South Africa to connect with Airlink operated [...]Somalia Restores Diplomatic Ties with Kenya after 5 Months
Somalia has restored diplomatic ties with Kenya after it severed relations on 15th December 2020, accusing Nairobi of meddling in its political affairs. The restoration of ties follows mediation by [...]Russia's Largest Crypto Exchange Bitzlato Targets African Market by offering Low Fees
Eastern Europe's largest cryptocurrency exchange platform Bitzlatois looking to expand its presence in Africa as it targets the continent's young population who are tech-savvy and deeply interested in new technologies [...]
