Zimbabwe to Receive a $250M Loan From Afreximbank
Zimbabwe will receive a $250 million credit facility from the African Export-Import Bank as the country battles an economic crisis. A Bloomberg source reports that $150 million from the transaction [...]
Cargo Keeps Ethiopian Airlines Profitable Despite Virus Disruptions
Ethiopian Airlines expects profits despite disruptions in operations from the pandemic, which have brought the aviation industry to its knees. Company CEO Tewolde Gebre-Mariam says that revenues from cargo services [...]MFS Africa Acquires Beyonic
Money Transfer company, MFS Africa, has completed the takeover of payment provider Beyonic. The acquisition will see MFS absorb Beyonic’s entire team with Beyonic’s Founder and CEO Luke Kyohere, absorbed [...]
AfDB Ranks 4th on Global Transparency Index
The AfDB (African Development Bank) has been ranked fourth out of 47 global development institutions on Publish What You Fund's Global Transparency Index. Publish What You Fund ranked the Bank' [...]Nissan to Setup New Manufacturing Plant in Kenya
Carmaker Nissan Motor Co is planning to cement its presence in Africa by setting up new bases as well as launching new models for the continent. The Japanese automaker is [...]Tensions Ease as Ethiopia, Sudan, Egypt to Agree to Fill GERD in Two Weeks
Egypt, Ethiopia, and Sudan have agreed to fill the Nile dam within two weeks following an agreement after meditations by the African Union. A statement from the Ethiopian Prime Ethiopia [...]South Africa Eyes Green Bonds to Fund Projects
South Africa is considering selling green bonds to drive private investment in its projects over the next decade. The Green bonds will help the country counter adverse economic effects caused [...]KLM and Emirates to Resume Flights in Tanzania by 15th July
The Tanzania Civil Aviation Authority (TCAA) has announced that more airlines are expected to resume scheduled flights to the Julius Nyerere International Airport, including KLM who start operations on June 30. [...]Somaliland Reopens Airspace Sea Routes
Somaliland, a self-declared state in Somalia, has lifted all its COVID-19 restrictions, effectively opening its airspace and sea routes. AsBusiweekreports, passenger flights will, therefore, resume activity to and from Somaliland's [...]Zimbabwe Suspends Mobile Money, Stock Market Activities citing Sabotage
The Government of Zimbabwe has suspended mobile money transactions in the country over allegations of criminal activity. The government will also suspend trading at the Zimbabwe Stock Exchange, arguing that [...]Safaricom Among the Final 12 Firms Bidding for Ethiopia's Telecom License
Safaricom is one of the 12 foreign firms that have submitted their application with the Ethiopian Communications Authority (ECA) for full-service telecommunication licenses in Ethiopia. The Authority had on May [...]Togo Receives $3M Loan to Boost Agriculture
The African Development Bank has approved a $3 million loan to Togo to boost its agricultural sector. The funds, approved on June 18th, will enable an earlier loan issued by [...]
