Jumia Posts US$ 99 million Loss as Customer Base Shrinks
Africa focused e-commerce platform Jumia Technologies has posted a US$99.1 million loss after tax in 2024, a mild decrease from US$99.3 million loss in 2023, with its customer base shrinking [...]
Uganda Lobbies Against EU Anti-Money Laundering Grey Listing
Uganda is lobbying the European Union (EU) to expedite its removal from regional body's anti-money laundering and terrorism financing grey list, a year after it was removed from the Financial [...]
Kenya, South Africa Led Continent in Private Capital Investments in 2024
South Africa and Kenya remained leading destinations for private capital flows in Africa, recording 84 and 83 transactions respectively in 2024, the Africa Capital in 2025 Report by Stears reveals. [...]Sudan Accuses Kenya of Act of Hostility' for Hosting Rebel Groups
Kenya is on the receiving end for hosting Sudan's Rapid Support Forces (RSF) and its allies in Nairobi as they work towards creating a parallel government. “Given that the stated [...]US to Match Foreign Tariffs in ‘Fair Trade’ Overhaul
Last week, US President Donald Trump signed a memo directing his economic staff to develop reciprocal tariffs on the country’s trading partners to protect American businesses and boost manufacturing. “On [...]Africa Finance Corporation Raises US$400mn in Oversubscribed Islamic Facility
Infrastructure solutions provider Africa Finance Corporation (AFC) has raised US$400mn Murabaha Islamic financing facility from 11 institutions. “Islamic finance plays a growing role in our funding strategy, helping us tap [...]Business Leaders Challenge Africa's Risk Profile as AfDB Plans Investment Guarantee Agency
The Africa Development Bank (AfDB) will establish the Africa Investment Guarantee Agency that will comprehensively cover international investors against political, climate, and macroeconomic risks. According to the president of the [...]Eritrea Criticises Western Press for Longstanding Smear Campaign'
Eritrea has criticised Western press for disproportionate negative coverage' and a longstanding and unwarranted smear campaign.' For years, the narrative surrounding Eritrea has been rife with distortion and simplification, largely [...]Africa's Richest Man Aliko Dangote Doubles Down on Ethiopia Investments
The richest man in Africa, Aliko Dangote, will set up a second production line at his cement factory in Ethiopia increasing its capacity to 5 million tonnes per annum, [...]Why Non-Oil Producing Countries Will Lead Sub-Saharan Africa's Growth in 2025
Non-resource-intensive economies such as Kenya, Ethiopia and Côte d'Ivoire are poised to outperform their peers especially oil producers in 2025 a recent report by BMI, a Fitch Solutions Company, [...]President Ruto Calls Out at Credit Rating Agencies for Financial Straitjacket'
Kenya has taken a swipe at global credit rating agencies for bias, linking them to $75 billion in lost opportunities to African countries. “We must be bold and call this [...]COMESA Ruling Faults Mauritius' 10% Import Duty on Edible Oils
The COMESA Court of Justice has faulted a 2018 decision by the government of Mauritius that imposed a 10% customs duty on imported edible oils without informing other member states, [...]
