Umeme Disputes Buyout, Trading Suspended on NSE, USE
The Nairobi Securities Exchange (NSE) and the Uganda Securities Exchange (USE) have temporarily suspended trading of Umeme Limited shares following the buyout of the company's operations by the Ugandan government. [...]
Ethiopia to Hold Foreign Exchange Auctions Every Two Weeks
The National Bank of Ethiopia will begin regular foreign exchange auctions, starting with a US$50 million auction on April 1st. Since the launch of a comprehensive program of macroeconomic reforms [...]
Ghana Scraps Controversial Tax on Mobile Money
Ghana's parliament has repealed the Electronic Transfer Levy (E-Levy), a tax on mobile money transactions that had sparked public outcry since its introduction. Ladies and Gentlemen, Investors, Parliament has just [...]Uganda Seeks to Exempt Local Startups from Taxes for First Three Years
Uganda's government has proposed to exempt local startups from taxes for the first three years of operations. Similar to other developing countries, small and medium-sized enterprises are the lifeblood of [...]Ethiopia Maintains Benchmark Rate to Control Inflation
The National Bank of Ethiopia (NBE) has maintained the 15% benchmark rate to temper inflation and anchor exchange rate expectations at its second Monetary Policy Committee (MPC) meeting. The Committee [...]Alibaba Partners with Nigerian Logistics Firm Kwik, to Offer Special Rates
Ecommerce giant Alibaba has partnered with Nigerian digital platform for logistics services Kwik to support Nigerian exporters with access and special rates. “We are excited to partner with Kwik by [...]Uganda Set to Renationalise Power Distribution With Umeme Exit
The state-owned Uganda Electricity Distribution Company Ltd (UECDL) is set to take over power distribution early next week from Umeme Ltd. According to the concession terms, the company is going [...]
Somalia Joins Afreximbank as it Seeks to Boost Economic Growth
Somalia has become the 53rd country to join the African Export-Import Bank (Afreximbank) after signing the Establishment Agreement of the multilateral bank. By joining the Bank, Somalia embarks on a [...]Ethiopia Issues First Investment Bank, Securities Dealer Licenses
Ethiopia's capital markets regulator has licensed the first two investment banks-CBE Capital S.C. and Wegagen Capital S.C.-,as well as three other licenses as part of the country's ongoing financial reforms. [...]Ugandan Lawmakers Approve Military Deployment to South Sudan Amid Rising Instability
Uganda's Parliament has approved the deployment of its military forces to South Sudan following a request from President Salva Kiir to help quell escalating violence in the Upper Nile State. [...]Google Expands Hustle Academy, Bets on AI to Boost Small Businesses
Global tech giant Google is doubling down on Africa’s small business sector with the 2025 edition of its Hustle Academy—an initiative designed to equip entrepreneurs in Kenya, Nigeria, and South [...]EU Sanctions Rwandan CEO, Gold Refinery, Over DRC Conflict
The CEO of Rwanda's mining regulator is among nine individuals and one company that have been added to European Union (EU) sanctions over the ongoing conflict in eastern DRC. Altogether, [...]
