Indebted Eskom seeks advisors to craft rescue plan
Struggling South African state-owned utility firm, Eskom, is seeking for financial advisors to assist it to navigate the huge debt terrain and revamp its ageing coal power plants. A frequent [...]
Ghana's Independent Power Producers Threaten to Shut Plants
Ghana's independent power producers threaten to shut plants due to government mounting debt currently at $1.4 billion as of June 30, 2020. In a press release, the chamber of independent [...]
Data, Mobile Money Drive Airtel Africa Q1 Earnings Growth
Airtel Africa has reported a 6.9% jump in revenues to $851 million in the first quarter that ended on 30th June 2020 with mobile money and data recording the most [...]
COMESA Develops Online Portal to Connect Buyers to Suppliers
The Common Market for East and Southern Africa (COMESA) has developed a COVID19 information sharing platform aiming to connect suppliers to buyers. COMESA Secretary-General Ms Chileshe Kapwepwe says that the [...]Vodacom's 1st Quarter Revenues up 7.6%
South African mobile operator Vodacom Group Limited has reported a 7.6% rise in Q1 revenue for the period ended 30th, June 2020. Group Revenues rose from US$1,045.98 Million in Q1, [...]EAC Truck Drivers to Receive COVID Certificates From July 24
Cross border truck drivers in the East African Community (EAC) will receive COVID certificates through the Regional Electronic Cargo and Drivers Tracking System (RECDTS). A letter from the EAC Secretariat [...]
Radisson Hotel Adds 6 Hotels to its Portfolio in Africa
Radisson Hotel Group's expansion strategy has seen it add six hotels to its portfolio in Africa, with the new units expected to open in Mali, Nigeria, Ghana, Ethiopia and two [...]Petra Diamonds to Sell Botswana Assets for $0.3 Million
Petra Diamonds, one of the largest independent producers of diamonds in Africa, plans to sell its exploration assets in Botswana to Botswana Diamonds for $300,000 and a5% royaltyon future revenue. [...]Vodacom and Alipay Partner to Bring Super app in South Africa
Vodacom South Africa has partnered with China’s leading fintech Alipay to develop a super app for the South African market. Customers and merchants will transact on one affordable platform, operated [...]IMF Grants Burundi $7.6M Debt Relief to Ease Effects of COVID19
The International Monetary Fund yesterday approved a debt relief package worth $7.63 million to Burundi, bringing the lenders' total debt relief to $251.24 million given to 28 developing countries. The [...]Central Bank of Nigeria Retains Key Lending Rate at 12.5%
Central bank of Nigeria retained the key lending rate at 12.5 percent, governor Godwin Emefiele announced on Monday. CBN retained all monetary policy parameters; cash reserve requirement (CRR) at 27.5 [...]Moody’s Affirms Afreximbank’s Baa1 Rating
Global credit ratings agency, Moody's, has affirmed African Export-Import Bank (Afreximbank) long-termcredit rating at Baa1, with a stable outlook. Baa1 is the 8th-highest rating in Moody's Long-term Corporate Obligation Rating. [...]
