Power Blackouts in Sub-Saharan Africa Cost Businesses 31% in Sales Study
According to a study by the Center for Global Development (CGD), power blackouts in Sub-Saharan Africa cost businesses as much as 31 per cent in sales. The aim of the [...]
Stanchart Injects $1.46bn into Tanzania's Phase Two SGR Project
The standard gauge railway project in Tanzania has received $1.46 billion from the Standard Chartered Bank Group for the construction of phase two which starts from Morogoro to Makutupora. In [...]Whistleblower Disclosed MTN Nigeria's Illegal Repatriation of Funds
The Central Bank of Nigeria last month ordered MTN Nigeria to refund the $8.1 billion it had moved illegally out of the country with the help of Standard Bank Group, [...]China Loans Nigeria $328m to Bolster ICT Sector
The Export-Import Bank of China is set to offer a loan of $328 million to Nigeria’s ICT sector according to a statement from the Senior Special Assistant on Media and [...]World Remit launches digital money transfers within East Africa
Online money transfer service World Remit says it has launched a new digital money transfer service to be rolled out in Kenya, Rwanda, Tanzania and Uganda. The new service is expected [...]Kilimall Exits Uganda, Possible Partnership to Revive the Business Hits a Snag
E-commerce platform Kilimall has closed shop in Uganda, Daniel Nyunyuzi told Digest Africa. Nyunyuzi was partnering with Japanese businessman Jay Cho to revive the business in the country. “Kilimall is [...]Chinese Projects Not Culpable for the Majority of Africa's Debt, China Claims
Chinese development projects are not to blame for the majority of Africa’s debt according to the Vice Commerce Minister Qian Keming. This is in light of a series of reprovals, [...]JSE launches online trading unit for Govt bonds
Africa’s largest bourse Johannesburg Stock Exchange (JSE) has officially launched an electronic trading platform (ETP) for government bonds, in partnership with the country's ministry of Treasury and a multi-stakeholder group [...]StanChart eyes Ethiopian Market
Standard Chartered Bank has taken a key interest in Ethiopia’s Banking Industry which is tightly closed off to foreign investment and dominated by state-owned banks. While speaking to Bloomberg, StanChart [...]Equity Bank's Finserve to Enable 6 Ethiopian Banks to Facilitate Cross-Border Payments
In an interview with Bloomberg, the managing director of Finserve Limited Jack Ngare has revealed that the fintech firm is discussing a possible partnership with six Ethiopian banks in cross-border [...]MTN Ordered to Refund $8.1bn in Nigeria, Share Price Dips to a Nine-Year Low
MTN’s share price has dipped to a nine-year low after the Central Bank of Nigeria (CBN) ordered the telco to return Sh8.1 billion it allegedly moved out of the country [...]China writes off Botswana loans
The Embassy of the people’s republic of China has exempted the government of Botswana from payment of 3 interest free loans worth $7.79 million. The credit facility had been extended [...]
