Liquid Telecom Raises $307 Million for Expansion in Africa
Africa’s largest fibre network provider, Liquid Telecom, has raised $307 million through a rights issue, as it seeks to expand its data center business across Africa. The rights issue included$40 [...]
Africa Airline Traffic Down 90.1% in August 2020 – IATA
Africa airline traffic declined 90.1% in August 2020 even as international flight operations in many African countries has resumed. This is, however, a slight improvement over the 94.6% decline recorded [...]
Interview with Coca-Cola Communications Director on Role of Private Sector in Plastic Waste Management
In 2018, Coca-Cola launched the World Without Waste Initiative that sought to address the packaging waste problem. Coca-Cola established three fundamental goals; to make its packaging 100% recyclable by 2025, [...]Weekly Deals Digest: Oct 14 Oct 20
In this week's deals digest, African fintechs take the lead in terms of investments raised, with south Africa's RSAWEB at the helm following a $10 million investment from Actis. In [...]ARM Cement Creditors to Get a Paltry KSh50 Million from Sale of Tanzanian Subsidiary
ARM cement creditors will get a paltry Ksh50 million from the sale of its Tanzanian subsidiary despite the sale raising a Ksh2.25 billion surplus. This is after the Tanzania Revenue [...]
Airtel Africa H1 2020 Revenues Up 16.4%
Airtel Africa has reported a 16.4% revenue growth in constant currency to $1,815 million for the half-year ended 30 September 2020 compared to $1,640 million reported in a similar period [...]Zambia Highly Likely to Default on $3Billion Eurobond
Zambia is highly likely to default on its $3 billion Eurobonds after government adjourned meetings with creditors to November 13. The meeting scheduled for Tuesday 20 October was to propose [...]ADF Approves $ 50.7 Million COVID-19 Response Loan to Tanzania
The African Development Fund(ADF) Board of Directors will disburse a loan of KSh 5.5 Billion ($ 50.7 Million) to Tanzania, to assist the state in responding to the coronavirus pandemic. [...]SABC Proposes TV License Fees for Streaming Services to Boost Revenues
The South African Broadcasting Corporation (SABC) has proposed a change in regulations to boost its revenue collection. The proposed regulations presented by Deputy Communications Minister Pinky Kekana seek to expand [...]G20 Extends Debt Repayment Suspension for Another 6 Months
Officials from the G20 creditor countries (Group of 20 major economies) have announced plans to extend the debt repayment suspension for the world's poorest countries. The suspension of repayments has [...]TLG Capital Buys 49% Stake in Uganda’s Opportunity Bank
UK based TLG Capital has acquired a 49 percent stake in Opportunity Bank Uganda Limited (OBUL) consequently becoming the largest shareholder. The move will see TLG Capital expand its footprint [...]Ethiopia Suspends Privatization of Ethiopian Airlines
Ethiopian authorities have announced suspending planned partial privatization of national carrier Ethiopian Airlines. Ethiopia Finance Minister Ahmed Shide praised the airline as a top forex exchange earner thus a treasured [...]
