Ethiopian Airlines posts $229 million net profit
State owned Ethiopian Airlines has recorded a net profit of $229 million during the past fiscal year ended in July 2018. The Carrier transported 10.6 million passengers while domestic passengers [...]
Ecobank Shortlists 11 Startups Including Kenya's Lypa for its Fintech Challenge 2018
Ecobank has shortlisted eleven companies to participate in its annual fintech challenge. The shortlisted start-ups include Kenya’s Lypa, Nigeria’s Wallet.ng, and Nala from Tanzania. The shortlisted participants will have the [...]Jack Ma Creates $10m Prize for African Entrepreneurs,
Alibaba Group founder Jack Ma has launched a Netpreneur Prize for African entrepreneurs worth $10 million. The aim of the prize is to promote African entrepreneurs that are making efforts [...]Tanzania to suspend DSTV License for Charging Citizens to Access Free to Air channels
Tanzania Communications Regulatory Authority intends to suspend all licenses issued to video entertainment service provider MultiChoice, following the latter failure to comply with license conditions and inclusion of Free to [...]Tanzania to pump natural gas to Uganda
Tanzania intends to build a pipeline to pump natural gas to Uganda according to the Tanzania Petroleum Development Corporation. The pipeline will run from Dar es Salaam, pass through Tanga [...]Absa Group earnings grow 3% to R8 billion
Absa Group Limited, Barclays Kenya’s parent company, today reported an increase in earnings and income for the first half of 2018 and underscored its commitment to growth in Africa. Absa [...]Kenya Takes 70% of East Africa PE Funds Inflows H1 2018
Private equity funds inflows into East Africa reached over Ksh 100 Billion in the last 7 month of 2018. Kenya is paving way in the sector accounting for Ksh 70 [...]Bank of Ghana revokes 5 banking licenses, places them under Govt Owned Bank
The Bank of Ghana has revoked the licenses of 5 banks namely; uniBank Ghana Limited, The Royal Bank Limited, Beige Bank Limited, Sovereign Bank Limited, and Construction Bank Limited. Consolidated [...]Tanzania’s Bank M Plc placed under receivership
Tanzania’s Central Bank ‘Bank of Tanzania’ has taken over the administration of Bank M Tanzania Plc (Bank M) effective 2nd August 2018. “In the exercise of its powers, under section [...]Ethiopian Airlines DHL Partner to form logistics services company
German logistics company DHL Global Forwarding and Ethiopian Airlines have signed a new agreement to form a joint venture company-DHL Ethiopian Airlines Logistics Services Ltd. The company will be based [...]Nigeria revives its collapsed National Carrier
After 15 years ceasing its airlines operations, Nigeria has unveiled its new national carrier ‘Nigeria Air’. Nigerian Minister of State for Aviation, Hadi Sirika made the announcement and unveiled the [...]Tunisia to use drones for data collection in Agriculture sector
Tunisia and the African Development Bank (AFDB) have signed an agreement to launch a pilot project that will use drones for data collection to enhance management and implementation of agricultural [...]
