Uganda to Borrow $1.89 Billion to Fund 2020/2021 Budget
Uganda plans to borrow $1.89b from external lenders to finance its 2020/2021 budget which stands at $10.8 billion. Details seen by Reuters indicate that the government will seek both concessional and non-concessional [...]
Africa Blockchain Institute to Open School in Rwanda
The Africa Blockchain Institute (ABI) is set to open its first-ever blockchain school in Rwanda this year. The program seeks to provide high blockchain education to local developers, businessmen, students [...]Ethiopia to Set Minimum Foreign Investment at $ 200,000
Individual foreign investors looking to fund infrastructure and business projects in Ethiopia will have to cough at least $200,000 according to a draft bill. On the other hand, the bill [...]Ghana Will Join 8 West African Countries to Use New Currency Eco
Ghanaian President Akufo-Addo has announced that the country will join 8 other West African countries to use Eco. Ghana will ditch Cedi, its current currency, and join Eco next year [...]World Resources Institute Appoints Wanjira Mathai as Regional Director for Africa
World Resources Institute (WRI) has appointed Wanjira Maathai as the Regional Director for Africa, and Vice President. Ms Wanjira, who holds master’s degrees in Business and Public Health from Emory [...]AfDB Approves $272 Million for Tanzania's New Airport
African Development Bank (AfDB) has approved a $272 million loan for Tanzania. The funding is geared towards the construction of a new international airport in Dodoma. The new airport in [...]West Africa's Largest 158.7MW Wind Farm in Senegal Close to Completion
Senegal will start enjoying a boost in its grid power through the injection of Wind Power from the almost complete Utility-Scale Wind Farm. Once completed, the Parc Eolien Taiba N’Diaye [...]West African Countries to Move from French CFA Currency to Eco by 2020
Eight West African countries have agreed to stop using the CFA Franc, renaming the currency to Eco. The Monetary Union of West Africa (UEMOA) will also reduce financial ties with [...]Rensource, Nigeria Solar Startup, Raises $20 Million
Nigerian solar-power startup, Rensource, has raised $20 million (KSh2 billion) in its Series A round of funding to boost off-grid solar power. Investors who took part in the funding include [...]MTN to Launch Mobile Money in South Africa
MTN is set to launch mobile money services in South Africa in January 2020. This means that subscribers will be able to send, receive, save and pay for goods using [...]Zambia Suspends 15% Export Duty on Gemstones
Zambia has announced that it will suspend its 15% export duty on gemstones, with effect from 1st January 2020. Initially, the government had introduced the export duty, alongside a 6% [...]EA Rice Farmers Receive $3 Million Grant from USAID GIZ
The United States Agency for International Development (USAID) has partnered with the German International Cooperation Agency (GIZ) to give a $3 (KSh 304) million grant to East Africa rice farmers. [...]
