WorldRemit partners with Wegagen Bank to offer digital money transfer service in Ethiopia
Ethiopian medium-sized lender Wegagen Bank has entered into a partnership with global money transfer firm WorldRemit to offer digital money transfer service to Ethiopian customers. The partnership will target more [...]
Microsoft Sets up Sh100B African Development Centre in Nairobi and Lagos
LISTEN TO ARTICLE Microsoft has invested in a $100 million Africa Development Centre (ADC) in Nairobi and another site in Lagos which will be a hub of Microsoft engineers to [...]
Jumia reports impressive topline growth in Q1
NYSE listed e-commerce platform Jumia Technologies has announced its financial results for the quarter ended March 31, 2019. The company reported a 12 % growth in revenue to 31.8 million [...]Africa FinTech Sector to Grow by $3B By 2020 Report
A report by the Institute of Chartered Accountants in England and Wales (ICAEW) has predicted that the growth of African Financial Technology sector will be worth $3 billion by 2020 with [...]Coca-Cola appoints new GM for East Central Africa
Coca-Cola Central, East West Africa Ltd has appointed Phillipine Mtikitiki as General Manager, East Central Africa Franchise effective 1stJune 2019, based in Nairobi, Kenya. In her new role, [...]Resolution Insurance sells Tanzania Business
Tanzania's Fair Competition Commission has confirmed intentions by a local investor by the name Leonard Chacha Kitoka to acquire shares of Resolution Insurance. Mr Kitoka already has stakes in several [...]Tanzania opposes Kenya’s Mara River Dam Projects
Kenya’s neighbour, Tanzania, is opposed to the construction of Hydro-electric power dams along the Mara River. The country’s officials revealed that they were holding talks with the Kenyan government to [...]
Total Oil Company to pay $8.8 billion in an African expansion drive
French Oil and Gas multinational Total is set to buy the African assets of Anadarko Petroleum, an international oil company headquartered in Texas, US for $8.8 billion (~KSh889 billion). Total [...]KCB Plans to Buy Banks in Rwanda and DRC
Kenya Commercial Bank KCB CEO, Joshua Oigara has announced the bank’s plan to buy a bank in Rwanda and another one in the Democratic Republic of Congo. Speaking to Reuters, [...]Tanzania to Begin Trials of its Electric Train in July
The Government of Tanzania has announced that the first trials for it's first, speedy electric train will be conducted in July to cover a section of the Standard Gauge Railway. [...]Ethiopian Airlines to Launch Three-Weekly Flights to Marseille, France
Ethiopian Airlines is finalizing its plans to launch a thrice-weekly flight to Marseille, France beginning July 2nd, 2019, Group CEO of Ethiopian Airlines, Mr. Tewolde GebreMariam confirmed. GebreMariam said that [...]MTN plans to sell half of its stake in Jumia
One of Africa’s largest telecommunications company, MTN Group, plans to sell approximately half of its ownership in E-commerce firm – Jumia technologies. Sources familiar with the matter told Bloomberg that [...]
