Nigerian banks forced to increase lending to SMEs and individuals or face penalties
Banks in Nigeria are expected to maintain a loan to deposit ratio of 60 per cent starting in September. The directive by the nation’s Central Bank is meant to increase [...]
Ghana Wins Bid To Host the African Continental Free Trade Area secretariat
Ghana has been selected as the host nation for the African Continental Free Trade Area secretariat. The secretariat will be in charge of coordinating and implementing the agreement by member [...]Ethiopia opens its Telecommunications market to foreign operators
Ethiopia has announced that it will award two telecommunication licenses to foreign companies to allow them to compete with the government-owned Ethio-Telecom. The move is part of government’s plan to [...]Private sector to promote the African Continental Free Trade Area
The African Continental Free Trade Area (AfCFTA) came into effect on 30th May 2019. The agreement aims to establish a single market for goods and services and to allow for [...]Absa Bank secures $500 million syndicated loan at 1% interest
South Africa’s Absa Bank, UK’s Standard Chartered Bank, and US-based Bank of America Merill Lynch have signed a $500 million (KSh51 billion) syndicated loan. It is the first syndicated loan [...]Five Reasons Why Facebook's New Crypto Libra' is Bad News for Africa
Facebook is plotting a new cryptocurrency dubbed ‘Libra’ for its vast social network scheduled for release in 2020. Libra coin, a virtual currency, will be governed by Libra association, a [...]
Kenya and Tanzania to hold trade discussions in Mombasa in July
Kenya and Tanzania have been working to end the prolonged trade dispute between them. The two nations have been at odds over economic and logistical matters. In 2018, Tanzania introduced [...]Coca Cola Plans $70 Million Factory in Ethiopia
Coca Cola is planning to build a USD 70 million factory in Ethiopia stretching on 14.3 hectares of land, the firm’s shareholders are also planning to invest USD 300 million [...]
Airtel Africa to list over 500 million shares on Nigerian Stock Exchange
The telecommunications company Airtel Africa plans to list at least 500 million shares on the Nigeria Stock Exchange. The initial offer will comprise of between 14 per cent and 18.9 [...]Vodacom is Selling 100% of its Nigerian Subsidiary
Vodacom, the South African network operator is selling 100% of its business in Nigeria to Synergy Communication, and it is also finalizing plans to sell its subsidiary in Zambia and [...]Kenya remains East Africa's most attractive market for PE investors Study
Kenya and the East African region are among the most attractive destinations for international and regional investors. The investment environment has steadily grown in the past decade. A survey by [...]Construction of 460km Kenya-Tanzania Highway to Begin in 2020 AfDB
The African Development Bank (AfDB) has announced that the construction of the 460km transnational highway between Kenya and Tanzania will begin early next year and that the funding for the [...]
