AfDB Grants Somalia $25 Million to Fight COVID-19
The African Development Bank (AfDB) has granted Somalia $25 million to help the government in its fight against the global COVID-19 pandemic. The grant package includesa $10.04 million grantfrom Pillar [...]
Nairobi headquartered DPO Group to be Acquired by Network International for $288 Million
Nairobi headquartered African Payment Service Provider DPO Group has entered an agreement for a 100% acquisition by Network International. Network International, a regional enabler for digital commerce in the Middle [...]South Africa’s Economy to Shrink by 7.2% IMF
The International Monetary Fund (IMF) projects South Africa's economy to shrink by 7.2%, attributed to growing debt repayments as a result of the negative impacts of the global COVID-19 pandemic [...]AfCFTA Could Boost Africa’s Income by $450 Billion World Bank
A recent report from the World Bank suggests that the African Continental Free Trade Area (AfCFTA) has the possibility of boosting Africa's regional income by 7%, translating to $450 billion, [...]Stanbic Named Kenya's Best Investment Bank by EuroMoney Awards
EuroMoney Awards for Excellence 2020 named Stanbic Bank Kenya as Kenya's best investment bank, attributed to the lender's ability to deliver solutions across a range of products and services to its [...]Independent Review Clears AfDB President Akinwumi Adesina
An independent panel has cleared African Development Bank (AfDB) President Akinwumi Adesina of allegations of favouritism and nepotism. A report by the committee concurs with findings on the bank's ethics [...]Citi Rates Airtel Stock as High Risk Despite Strong Q1 Earnings Growth
Airtel Africa’s revenue growth in Q1 2021 surpassed analysts’ expectations recording 13% yoy jump despite the challenges posed by the ongoing pandemic. The solid growth was mainly supported by strong [...]
IMF approves US$4.3 Billion to assist South Africa to deal with Virus Impact
The Executive Board of the International Monetary Fund(IMF) has approved South Africa's request for emergency financial assistance of US$ 4.287 Billion. These funds, disbursed under the Rapid Financing Instrument (RFI), [...]
MTN Uganda to Sell 20% Stake to East Africans
The Uganda Communications Commission says that the sale of 20% stake in MTN Uganda will be restricted to East African Community bloc. This will see citizens from Kenya, Tanzania, Burundi, [...]
Aga Khan Bids to Acquire Seacom in KSh65 Billion Deal
The Aga Khan Fund for Economic Development (AKFED) has made a bid, seeking to fully acquire fibre optic undersea cable firm, Seacom. According to an inquiry notice from the Comesa [...]World Bank Approves $150 Million for Uganda's Secondary Education
The World Bank has approved a $150 million package to help boost the quality of secondary school education in Uganda'. The project package includes a $90 million credit from the [...]Africa Enterprise Challenge Fund Appoints Victoria Sabula as CEO
Victoria Sabula has been confirmed as The Africa Enterprise Challenge Fund's (AECF) Chief Executive Officer (CEO), after serving as interim since August 2019. Before joining AECF, Victoria held several different [...]
