GT Bank eyeing expansion in East Africa.
Guaranty Trust Bank is considering expanding outside Nigeria into East Africa. The bank, which already has units in Kenya, Uganda, Rwanda, and Tanzania is considering to further its reach in [...]
Jumia fires part of its sales staff due to fraud, Q2 Loss Up 60% to Ksh 7.6 Bn
Jumia fired some of its employees in Nigeria and suspended a number with regards to improper sales practices. Jumia Technologies AG says it identified dubious transactions that accounted for approximately [...]Access to electricity in Africa rises to 52% of the population
African Development Bank (ADB) Annual Development Effectiveness Review 2019 shows that the share of the population with access to electricity in Africa increased – from 42% in 2015 to 52% [...]
Sub-Saharan Telcos need to restrategize or fall out.
The Telecommunication in Sub-Saharan Africa is on the verge of maturity. A majority of the population already have access to a SIM card if not two. Evolving customer preferences will [...]East African nations pursue partnership with Russia on energy and infrastructure.
The East African bloc has expressed interest to pursue a regional cooperation with Russia. The partnership will focus on energy and infrastructure development through the Intergovernmental Authority on Development (IGAD). [...]Trade among African countries takes a dip to 14.4%
In March 2018, 44 African countries signed the African Continental Free Trade Area Agreement (AfCFTA), which commits countries to remove tariffs on 90 percent of goods, progressively liberalize trade in [...]Kiswahili adopted as an official language in SADC
Representatives attending the 39th Summit of Southern African Development Community (SADC) on Saturday agreed to adopt Kiswahili as a formal language in the region. Kiswahili will be the first indigenous [...]2019 Africa Netpreneur Prize Semifinal Judges announced
The Africa Netpreneur prize, operating under the leadership of the Jack Ma Foundation, and whose mission is to identify and spotlight African entrepreneur heroes and their stories to inspire the [...]A common currency for the East African Community takes shape
East African Community (EAC) member states could start using a common currency soon after the necessary legislation is assented to by the heads of states. The enactments will enable EAC [...]Nigeria’s steel dilemma shut down or raise fresh funding
Nigerian authorities are in a dilemma; cut their losses by shutting down the steel mills or raise fresh funding to revive idle steel mills. Despite heavy government investment, steel mills [...]South African automakers plan to start producing electric cars
The National Association of Automobile Manufacturers of South Africa (NAAMSA) plans to present a joint report on electrification to the government by the end of the year. Naamsa CEO Mike [...]Absa Group Reports a 5.4 Percent Jump in Net Profits in the First Half of 2019
Absa group, the parent company to Barclays Kenya has posted a 5.4 percent increase in net earnings in the first half of 2019. The results were bolstered by improved SA [...]
