AfDB Grants $150,000 to Rwanda's Coding Academy
The AfDB (African Development Bank), in conjunction with Rwanda's Ministry of ICT and Innovation, has signed a $150,000 grant agreement to support the Rwanda Coding Academy. According to Rwanda's Ministry [...]
Weekly Deals Digest: Oct 28 Nov 3
In this week's deals digest, Kenya's Kasha led African deals, raising $5.3 million from the Swedish fund. Brazil led emerging markets following a $150 million investment in Conductor. However, India [...]Bitcoin surpasses $15,000 Mark
Bitcoin on Thursday surpassed the $15,000 mark, jumping to a 33-month high as central banks around the Worldmake stepstowards adoption of digital currencies with bitcoin being the biggest beneficiary of [...]Angola Becomes 30th State Party to Ratify the AfCFTA
The People’s Republic of Angola has deposited its ratification instruments for the African Continental Free Trade Agreement (AfCFTA), having signed it on 21st March 2018, making it the 30th state [...]MTN Group Sells its 18.9% Stake in Jumia
MTN has sold all its stake in Jumia as an effort to streamline its portfolio and cut debt by disposing off non-core business. Proceeds from the sale valued at $142 [...]China Extends Ban on Ethiopian Airlines Flight to End of 2020
China has extended the ban on Ethiopian Airlines flight from Addis Ababa to Shanghai Pudong until the end of 2020, citing the increased number of passengers on the flights who [...]Ponzi scheme Crowd1 Goes Down With Upto €1 Billion of Clients Funds
Crowd1 Ponzi Scheme has collapsed following an expose by the BBC Africa Eye but not without taking away investors fortunes. The BBC team went undercover for six months trying to [...]
Mozambique to Get $116 Million COVID-19 Aid from EU
Mozambique is set to receive $116 million from the European Union (EU) for budget support. This comes four years after the union froze lending to the nation, citing undisclosed debts. [...]IM Rwanda Rights Issue Oversubscribed by 12%
IM Rwanda has announced the successful completion of the rights issues that closed with an oversubscription of 12 percent. The bank undertook the rights issue to secure long-term funding to [...]Airtel Announces Plans to Exit Ghana, Selling 100% Shares to Gov't
Airtel has announced plans to exit the Ghanaian telecommunication market, with plans in the pipeline to transfer all shares to Ghana's government. The transfer means the Ghanaian government will acquire 100% [...]Virus Dims Sub Saharan Africa Economic Growth Prospects: IMF
The International Monetary Fund (IMF) projects that Sub Saharan Africa region economic growth will contract by -3.0 percent in 2020. IMF says the coronavirus pandemic brought an unprecedented health and [...]Kenyan Firms Spend 38% More on Cloud and ERP Services in Search of Efficiency
In Kenya, companies have boosted their expenditure on cloud and ERP services by 38% as businesses seek more efficiency during the pandemic. A survey by World Wide Worx in collaboration [...]
