Malawi Legalizes Marijuana for Medical Industrial Use
Members of the Malawi National Assembly have passed the Cannabis Regulation Bill that now allows for the cultivation, processing and export of marijuana for medical and industrial use. Therefore, the [...]
South African Fintech, Jumo, Raises $55 Million Funding Led by Goldman Sachs
South African fintech startup, Jumo, has raised $55 million in debt and equity funding, from a round of investors led by Goldman Sachs,Odey Asset Management and LeapFrog Investments. According to [...]Nigeria Commits $268 Million to Entrepreneurs and Innovators
The government of Nigeria has committed to give a $268 million monetary support to local agricultural entrepreneurs and innovators, even as the country seeks to diversify its economy, and stop [...]Egyptian Lender, Banque Misr, Seeks $250 Million for East Africa Expansion
Egyptian lender, Banque Misr, has announced plans to borrow $250 million from international lenders, to help them expand into Africa. Countries targeted in the expansion include Kenya, Djibouti and Somalia. [...]Kenya Tails South Africa as Top Tech Hub in Africa
Kenya is listed as having the highest number of tech hubs in Sub-Sahara Africa and second only to South Africa. According to the latest mapping done by Global Systems for [...]
Namibia Begins Exporting Meat to the US
Namibia has begun exporting meat to the United States, becoming the first African country to manage that, after it sent 25 tonnes of beef to Philadelphia. This follows eighteen years [...]Ghana to Refund Deposits Held at Failed Lenders
Ghana is set to spend KSh93.7 billion ($937 million) to refund depositors whose money is being held in failed banks and micro-credit institutions. In 2018, Ghana suffered a banking crisis [...]East African Community to Cap Tariff at 32.5%
Businesses in the region are pushing for the East African Community (EAC)'s Common External Tariff (CET) to be wholly capped at 32.5%. This is one of the agendas set to [...]Nigeria to Receive KSh220 Billion from World Bank
Nigeria is set to receive KSh220 ($2.2) billion from the World Bank, money that will go towards the implementation of the country's key projects in 2020. According to the international [...]Moody's Cuts South Africa's 2020 Growth Prospects to 0.7%
Rating agency Moody's has cut South African economic growth prospects to 0.7% from the 1.5% forecasted in September 2019. Moody's attributes the downward revision to the sluggish economy owing to [...]
US-Kenya Trade Deal Threatens Regional Pact
The new US-Kenya trade deal threatens and undermines the existing continent-wide commerce pact. President Uhuru visited Washington at the end of January in a bid to cement an agreement between [...]World Bank Loans Tanzania $446 Million to Curb Poverty
The World Bank is set to give Tanzania a $446 million loan, through the Tanzania Action Fund, to help the country in the fight against poverty. The Tanzania Action Fund [...]
