South Sudan Resumes Local International Flights
South Sudan has reopened its airports, signifying a resumption in both local and international flights, after the country eased its COVID-19 lockdown restrictions. According to the country's Civil Aviation, passengers [...]
IMF Approves $2.8 Billion for Egypt
The IMF (International Monetary Fund), through its Rapid Financing Instrument (RFI), has approved a $2.77 billion (KSh 295 billion) emergency loan for Egypt to help it curb the economic effects [...]Absa Rolls out Powercard Across Africa
ABSA Group has completed the rolling out Powercard across eight African countries: Botswana, Kenya, Mauritius, Zambia, Tanzania, Ghana, Uganda, and Seychelles. HPS, a leading multinational provider of payment solutions, on [...]
Africa Startup Funding Could Fall by Half in 2020
As Q1 data settles in, one thing is clear, 2020 will see a decline in new investments in almost all sectors of the economy. According to Quartz Africa, the funding [...]Algeria Lifts Ban on Car Imports
Algeria's cabinet lifted the ban on car imports after the ban failed to reduce the import bill. Lifting the ban, endorsed in 2014 under President Abdelaziz Bouteflika, follows a surge [...]Vodacom Full Year Earnings Rise 8.9%
South Africa's mobile operator, Vodacom, recorded an 8.9% jump in its full-year earnings, a spike brought about by an improved second-half performance in its domestic market and the sustained growth [...]IMF Disburses $491.5 Million to Uganda
The IMF approved Ksh52B ($491.5million) disbursement to Uganda under the Rapid Credit Facility (RCF) to address the urgent balance-of-payments and fiscal needs. A statement on the IMF website said that [...]Ethiopia Energy Sector Receives $10 Million Investment, AfDB
Ethiopia will receive $10 Million investment as a concessional loan, AfDB confirmed last week. The Investment will be used towards financing Ethiopia's 50MW Tulu Moyo Geothermal power plant. Funding for [...]Ghana's Central Bank Unveils Fintech Innovation Office
Ghana's Central Bank has announced plans to establish a new FinTech and Innovation Office, a move that seeks to enhance the Bank’s cash-lite, e-payments, and digitization agenda. According to a [...]Ugandan Motorcycles to Go Digital
Uganda has announced plans to have all bodabodas within its capital city, Kampala go digital after the coronavirus pandemic. This means that all motorcycles shall operate under digital companies like [...]Nigeria's eHealth Startup, Helium Health, Raises $10 Million Series A Funding
Nigeria's health startup, Helium Health, has raised $10 million (KSh1 Billion) in its series A round of funding. Investors who took part in the round of funding include Global Ventures, [...]East Africa Fruits Raises $2.05 Million Series A Funding
Tanzania's East Africa Fruits Company which provides fresh produce distribution services has raised $2.05 million (KSh218 Mn) in its round of Series A equity funding. The company's goal is to [...]
