IATA Projects African Airlines to Lose $3.7 Billion in 20202021
The International Air Transport Association (IATA) has projected that African airlines will lose $3.7 billion between this year and 2021, with global losses projected to hit $157 billion. According to [...]
Kenya's Sugar Sector Gets Additional 2-year COMESA Sugar Imports Safeguard
Kenya's stagnant sugar industry has received another reprieve. This is after the Common Market for Eastern and Southern Africa(COMESA) regional trading block granted it a two-year extension of the sugar [...]
Rwanda’s GDP Declines by 12.4% in Q2 2020
Rwanda's Gross Domestic Product (GDP) for Q2 2020 (between July and September)declined by 12.4%compared to the same period in 2019, occasioned by the prolonged impact of the total lockdown imposed [...]BK Group's 9 Months Net Income Rises 10.5% to $ 28.6 Million
BK Group Plc, the holding company of Bank of Kigali- the first Rwandese lender to cross-list at the Nairobi Securities Exchange(NSE), has recorded a rise in its net income for [...]Tullow Oil Shifts Focus to Ghana, Invests $2.7 Billion
Tullow Oil has shifted its focus to West Africa, as it plans to invest$2.7 billion in Ghana's oil fields, which form the backbone of its business. The move seeks to [...]Safaricom, Vodacom Joint M-Pesa Platform Monthly Transactions Hit KSh2.25 Trillion
A joint cash transfer platform operated by South Africa's Vodacom Group and Safaricom Plc has recorded a surge in the six months ending 30th September 2020. According to the Vodacom [...]Nigerian Government Cuts Vehicle Import Duty by 30%, Plans to Source from Local Manufacturers Only
The Nigerian Government plans to only buy vehicles from local assemblers in an attempt to boost competitiveness in its automotive manufacturing industry. The move is also in response to the [...]ECA Launches E-commerce Platform to Support AfCFTA Transactions
The Economic Commission for Africa (ECA) has launched ATEX, a business-to-business e-commerce platform that seeks to facilitate trading between buyers and suppliers after African Continental Free Trade Area (AfCFTA) comes [...]Weekly Deals Digest Nov 11 Nov 17
In this issue of the weekly deals digest, the top ten deals were distributed evenly between Startups in the consumer, environment, and enterprise applications. South Africa's MotoFibre Networx led the [...]Nigeria's Economy Slides into Recession as GDP Contracts by 3.62%
Nigeria’s economy has slid into a recession after its Gross Domestic Product (GDP) contracted by 3.62% (year-on-year) in Q3 2020. This is the second consecutive contraction from -6.10% recorded in [...]Equity's VC Arm to Construct Kigali Financial Towers
Equity Bank’s James mwangi is set to fund the construction of the Kigali Financial Towers through Equity Holding (EH) Venture Capital. EH is the investment arm of the Equity Group [...]
Uganda to Commence Works on Oil Pipeline in 2021
Uganda expects to commence the construction of its oil export pipeline in the first half of 2021. The pipeline will link Uganda oil fields to Tanzania’s Tanga port with energy [...]
