Rwandan tea beats Kenyan tea in quality
Rwandan tea has been selling at better prices compared to Kenyan tea at the coastal tea auction. The tea is rated as being better quality than the local tea hence [...]
Air Tanzania acquires landing slots at Gatwick Airport
Air Tanzania has made progress in its plan to fly to London by securing three landing slots at the Gatwick airport. The airline intends to fly directly from their hub [...]KCB Group to increase investment in South Sudan
East Africa’s largest Bank by assets, KCB Group, is planning on increasing its investments in South Sudan. The decision follows a return to normalcy in the country that has been [...]
NilePay takes mobile money services to South Sudan
NilePay PLC, an Electronic Financial Services Company, has partnered with Zain South Sudan to offer mobile money services in South Sudan. The service dubbed NilePay Mobile Money the first licensed [...]Jumia’s share price drops to an all time low
Jumia's share price has been on a downward trend in the last one month. The company which listed on the New York Stock Exchange in April 2019 recorded its lowest [...]
CMA's Second quarter regional performance
CMA recently released the Capital Markets Soundness Report for the second quarter of 2019. The report notes that the trade disagreements between Kenya and Tanzania have substantially affected intra-regional trade. [...]Technology is driving growth in African economies
A report by GSMA shows that investment in African Finctech companies grew to approximately $ 357 million in 2018, with sub-Saharan countries like Nigeria, Kenya and South Africa taking the [...]Rising African sovereign debt raises concern
IMF African Department Director Abebe Selassie said that African countries have experienced a rise in the sovereign debt. Speaking at the 42nd annual meeting of the Association of African Central [...]Nigeria Imposes VAT on Stock Exchange Transactions
Traders on the Nigerian Stock Exchange will incur a 5% Value Added Tax on all transactions starting on 25th July. It follows the expiration of the Value Added Tax (Exemption [...]Tanzania aims to double power supply with the Rufiji Hydro dam project
Tanzania has awarded Egyptian companies- Arab Contractors and Elsewedy Electric S.A.E the go-ahead to construct the 2115 Megawatts Stiegler's Gorge Hydropower project. The Tanzanian government and Arab contractors had initially [...]Vodacom Tanzania launches mobile overdraft service similar to Fuliza
Tanzania’s leading telecommunications firm Vodacom has unveiled a mobile-based overdraft facility referred to as ‘Songesha’. The service shares similar features to Safaricom’s Fuliza, the world’s first mobile overdraft service launched [...]Diamond Trust Bank fined KSh44.8 million by Tanzania’s Central Bank
The Tanzanian subsidiary of Diamond Trust Bank has been fined TSh1 billion (KSh44.8 million) for failing to set up a data center in the country as required by law. In [...]
