PE Firm Actis seeks Approval from Comesa to take over Abraaj Funds
Private equity firm Actis has written to the Comesa Competition Commission (CCC) to affirm its intentions to take over the assets of collapsed Dubai based PE Fund Abraaj Group. Actis [...]
African Development Bank's Desert to Power Initiative gets Backing from G5 Sahel Presidents
Presidents of the G5 Sahel states have drummed support for African Development Bank' Desert to Power Initiative during a recently held summit in Ouagadougou, Burkina Faso. The Desert to Power [...]39% of African CEOs confident of revenue growth in the next 12 months – PwC
A PwC report, Africa Business Agenda 2019, shows a dip in the CEOs' confidence in their own organizations’ revenue prospects over the short term (12-month) and medium (three-year) medium term. [...]
South Africa's Rain launches Africa's first 5G network
Rain South Africa has activated Africa's first 5G network launched the 5G network in South Africa. The launch is one of the world's first commercial 5G networks that will help [...]Hyundai Motors Launches in Somalia
South Korean car manufacturer Hyundai has launched in Somalia. Hyundai will partner with Dahabshiil Group of companies to introduce the Hyundai model cars to Somalia and its adjacent neighbours. The [...]Digital lender Tala exits Tanzanian market
Digital lender Tala has announced an exit from the Tanzanian market. In a statement posted on their Twitter Account, Tala said that it had ceased offering loans in Tanzania and [...]Andela restructuring leads to 400 job cuts across Kenya, Uganda and Nigeria
Andela has announced the departure of 170 junior engineers and staff from its Kenyan hub with an additional 250 affected from the Nigerian and Ugandan hubs. The move comes as [...]JAPAN'S NEXI Partners with Financial Institutions to Boost Trade in Africa
Japan's Nippon Export and Investment Insurance (NEXI) has partnered with the Islamic Development Bank (IsDB), Islamic Corporation for the Insurance of Investments and Export Credit (ICIEC) and African Trade Insurance [...]Ethiopia and Kenya Ranked Region's Top FDI destinations
Countries adopting business-friendly approaches and easing bureaucratic processes tend to fair better and drive an increase in Foreign Direct Investments (FDI). According to a recent report by professional services firm [...]China’s infrastructural lending in Africa may slow in the future – Citi
China’s infrastructural lending to Africa may slow down in the future as the Asian nation changes tact in its quest to be a global superpower. In a report, China and [...]Somalia gets $28.8M AFDB funding for road and water supply projects
The African Development Bank has signed two grants for $28.8 million for the road and water supply projects in Somalia. The projects comprise of the Kismayo Baidoa Urban water project [...]World Bank and Japan partner to develop human capital in Africa
World Bank and the Government of Japan have announced an African focused initiative aimed at advancing human capital thus contribute to economic development in the continent. The partnership will improve [...]
