Digital Bank Umba Raises US$5mn Debt to Expand Asset-Backed Lending in Kenya
Digital bank, Umba, has raised a US$5 million debt facility to scale its secured lending operations in Kenya, underscoring a growing interest among African neobanks toward sustainable, long-term credit products. [...]
Zimbabwe Starts US$308M Compensation for Dispossessed White Farmers
Zimbabwe has started its white farmer compensation programme, issuing $308 million in bonds and cash to farmers who lost land in the 2000 reforms. In 2000, then-President Robert Mugabe led [...]
How One Kenyan Woman is Brewing Hope Amid the World’s Coffee Shortage
The global coffee industry is facing challenges with prices of the commodity soaring to levels not seen since 1970s, driven by persistent supply concerns in key growing regions such as Brazil [...]
PwC Exits Nine African Countries in Strategic Shift
PricewaterhouseCoopers (PwC) has announced the separation of its member firms in nine African countries, marking a significant shift in its regional strategy. “We remain deeply committed to Africa and will [...]Court Rules Meta Can Be Sued in Kenya Over Hate Speech in Ethiopia Violence
The High Court has ruled that Facebook's parent company —Meta—can be sued in Kenya over allegations that its algorithms amplified hate speech that fuelled ethnic violence in Ethiopia. Abrham Meareg [...]Why Foreign Flower Farms in Ethiopia are Shifting to Kenya, Uganda
Some foreign-owned flower firms are now shifting their operations from Ethiopia to Kenya and Uganda as conflict in the Amhara region disrupts Ethiopia's horticulture sector. “The closure of our Kunzila [...]National Oil Companies Across Africa are Exploring New Financing Models
In March, the National Oil Corporation of Kenya (NOC) signed a non-equity investment partnership with Rubis energy, joining a growing list of state-owned oil companies on the continent in exploring [...]
Umeme Disputes Buyout, Trading Suspended on NSE, USE
The Nairobi Securities Exchange (NSE) and the Uganda Securities Exchange (USE) have temporarily suspended trading of Umeme Limited shares following the buyout of the company's operations by the Ugandan government. [...]Ethiopia to Hold Foreign Exchange Auctions Every Two Weeks
The National Bank of Ethiopia will begin regular foreign exchange auctions, starting with a US$50 million auction on April 1st. Since the launch of a comprehensive program of macroeconomic reforms [...]Ghana Scraps Controversial Tax on Mobile Money
Ghana's parliament has repealed the Electronic Transfer Levy (E-Levy), a tax on mobile money transactions that had sparked public outcry since its introduction. Ladies and Gentlemen, Investors, Parliament has just [...]Uganda Seeks to Exempt Local Startups from Taxes for First Three Years
Uganda's government has proposed to exempt local startups from taxes for the first three years of operations. Similar to other developing countries, small and medium-sized enterprises are the lifeblood of [...]Ethiopia Maintains Benchmark Rate to Control Inflation
The National Bank of Ethiopia (NBE) has maintained the 15% benchmark rate to temper inflation and anchor exchange rate expectations at its second Monetary Policy Committee (MPC) meeting. The Committee [...]
