Shikun Binui secures new $309 million contract to build airport in Uganda
Israeli based construction and infrastructure company Shikun Binui Ltd has secured a new contract to build an airport in Uganda. The project will be located in a rural area [...]
Hapag-Lloyd sails to East African Coast for first time with new weekly service
The world's fifth largest container transporter Hapag-Lloyd has announced it will offer a new weekly service between the Saudi Arabian port of Jeddah and the east coast of Africa beginning April of [...]SureRemit ICO Raises USD 7 million
SureRemit’s Initial Coin Offering raised $7 million last month to fund its blockchain-based remittance platform. The platform allows customers to buy digital vouchers which are redeemable for goods and services [...]
Barclays Africa partners with Frontclear to develop Africa’s interbank markets
Barclays Africa Group Limited has signed a 2-year agreement to provide financial support to the Frontclear Technical Assistance Programme (FTAP) through the latter’s Partnership Facility. The programme will be rolled-out [...]110 Foreign Exchanges Money Transfer Bureaux Lose Licenses in Tanzania
110 foreign exchanges and money transfer bureaux in Tanzania were shut down last month after failing to observe new regulatory guidelines. The Bank of Tanzania (BoT) made regulation changes due [...]Ethiopian Airlines to Start Direct Flights to Chicago in June
Ethiopian Airlines Group, Africa's largest aviation company has announced that it will commence direct flight from Addis Ababa to Chicago effective as of June 02, 2018. West Bound, Passengers from the [...]China’s three lessons for Africa
Before its economic reform and opening in 1979, China was a poor country with a per capita GDP less than one-third of the Sub-Saharan average. In the 38 years since, [...]A payments platform to support economic growth
The role of payment infrastructure in boosting cross border business and drive economic growth By Denis Kruger, Head of Sub-Sahara Africa, SWIFT Four years after its launch, Kenya, Tanzania, Uganda [...]South African Reserve Bank Governor Lesetja Kganyago elected as new IMF chairman
The members of the International Monetary and Financial Committee (IMFC), the policy advisory committee of the Board of Governors of the International Monetary Fund (IMF), have selected Mr. Lesetja Kganyago, [...]Africa Infrastructure Index; $108B financing gap
New estimates by the African Development Bank suggest that the continent’s infrastructure needs amount to $130–170 billion a year, with a financing gap in the range $68–$108 billion. With an [...]Volkswagen to invest $20M in Rwanda plant, to produce 3 models by Q2
German automaker Volkswagen (VW) has announced plans to invest $20 million for the first phase of its car assembly plant in Rwanda which will be operational by Q2 this year. [...]TPG Growth set to acquire TRACE, Africa’s music and entertainment company
TPG Growth, the middle market and growth equity investment platform of global alternative asset firm TPG, has signed a definitive agreement to acquire a majority stake in TRACE, the afro-urban [...]
