Jumia’s 2018 revenues from East Africa more than double to KSh 1.3 billion
The East African region recorded the fastest growth in revenue for the e-commerce company, Jumia for its African business according to disclosures on a potential IPO on the New York [...]
Jumia files for IPO on NYSE
E-commerce firm Jumia has filed for an Initial Public Offering on the New York Stock Exchange (NYSE), which will make it the first African technology company to list on the [...]
South African based Absa group looking to enter Ethiopian market
Absa group, formerly known as Barclays Africa has announced plans to enter the Ethiopian market. The lender, Africa’s third largest with operations in12 African countries is the parent company to [...]Rwanda's cement company Cimerwa to sell 49% stake
The largest cement manufacturer in Rwanda, Cimerwa, is seeking buyers for 49 percent of its shares which are owned by the Rwandan government. The company is jointly owned by South [...]Ethiopian Airlines says flight from Addis to Nairobi crashed, 157 on board
Ethiopian Airlines has confirmed that its flight ET 302/10 March in schedule service from Addis Ababa to Nairobi was involved in an accident on Sunday around Bishoftu (Debre Zeit). The [...]
Sudan President Unveils Tough Economic Measures as the Protests in the Country Grow
Sudan’s president, Omar al-Bashir has unveiled tough economic measures, which is meant to curb the crisis experienced in the country sinceDecember. He has made it illegal to trade fuel products [...]Ethiopia on Final Stages to Liberalise Aviation Industry
The Ethiopian Civil Aviation Authority has drafted a regulation which paves way for the liberalization of the country’s aviation industry. The regulation is pending Attorney General's legal review. It mainly [...]Motor Company Hyundai opens assembly plant in Ethiopia
South Korean motor vehicle manufacturer Hyundai has set up an assembly plant in neighboring Ethiopia. It is Hyundai’s first plant in the East African region. Mr. Haile Gebraselassie, one of [...]Ethiopia's Ethio-Telecom set to be Privatised
Ethio Telecom will be the first state-owned company to be partially privatised, Ministry of Finance Communication Director, Haji Ebsa has confirmed. Ebsa said that the telco will be given [...]Uganda's Declining Foreign-Currency Lending a Credit Positive – Moody’s
Uganda’s declining foreign-currency lending is a credit positive for its banks as it will support their asset quality and reduce negative pressure on some banks’ foreign-currency funding and capital adequacy, [...]Kenya, Rwanda Tanzania Among Africa's Most Attractive Investment Destinations in 2019 RMB
A new study by South Africa’s Rand Merchant Bank has ranked Kenya, Rwanda and Tanzania among Africa’s most attractive destinations in 2019 taking fifth, sixth and seventh positions respectively. The [...]Ethiopia Sets Up Telcom's Authority as it Opens its Market to Local and Global Investors
Ethiopia government, under the leadership of its Prime Minister Abiy Ahmed, has opened up its telecommunications economy both to investors in the country and foreign aimed at achieving “the government’s [...]
