Michael Joseph joins Board of Fintech Firm, MFS Africa
MFS Africa, a leading Pan-African fintech company, has announced that Michael Joseph has joined its Board of Directors as an independent Non-Executive Director. Michael served as CEO of Safaricom in Kenya [...]
86 Companies Apply To List On Dar Stock Exchange
According to officials of the Dar es Salaam Stock Exchange (DSE), at least 86 Tanzanian companies have applied for listing on the DSE and at least 25 of them are expected to [...]AfDB approves USD 29.8 Million loan to boost Tanzania’s natural gas sector
The African Development Bank (AfDB) has approved a USD 29.8 Million loan to Tanzania to help the country mobilize domestic resources and unlock the potential of its natural gas resources [...]Fitch Joins SP in Downgrading South to Junk Status
Ratings agency Fitch downgraded South Africa's credit rating to sub-investment grade on Friday, saying a recent cabinet reshuffle that saw respected finance minister dismissed will likely result in a change [...]South Africa unveils first locomotive to be manufactured in Africa
A South African rail company recently unveiled the first locomotive to be designed, engineered and manufactured in Africa, dubbed the Trans-Africa locomotive. Transnet Chief Executive Officer, Siyabonga Gama confirmed the news [...]Largest beer soft drinks maker in Rwanda Bralirwa Posts 80% drop in profit
Bralirwa, Rwanda's largest beer and soft drinks manufacturer has posted a drop of 80.3 per cent in profit attributed to the high cost of financing its foreign debt against a weakening Rwandan franc and [...]SP Downgrades South Africa To Junk Status
South Africa's credit rating has been cut to junk status by the ratings agency SP Global. The agency said that political upheaval, including the recent sacking of finance minister Pravin [...]Bob Diamond’s Atlas Mara targets bounce back after 25% fall in profits
Bob Diamond’s African investment vehicle Atlas Mara has posted a 25 per cent plunge in profit but is aiming to more than double earnings this year through cost savings and [...]Kenya has the highest number of betting youth in Sub-Saharan Africa
According to a recent Geopoll survey carried out among youth between the ages of 17-35, Kenya has the highest number of betting youth in Sub-Saharan Africa. At 96 per cent, Kenya had the [...]AFDB Approves $250 Million Loan for Kenya-Uganda Highway Upgrade
The African Development Bank Group (AfDB) approved USD 253.0 million worth of loans to the Governments of Kenya (USD 147.3 million) and Uganda (USD 105.7 million) for the upgrading of [...]Bank of Ghana Governor Issahaku Resigns After One Year
Nashiru Issahaku, the governor of Ghana’s central bank, resigned on Wednesday for personal reasons, after just one year at the helm, Reuters is reporting. Former President John Mahama appointed Issahaku [...]Total Completes Acquisition of 76% Stake in GAPCO East Africa
French owned Total has announced that it has completed the acquisition of Gulf Africa Petroleum Corporation's (GAPCO) assets in Kenya, Uganda and Tanzania for an undisclosed amount. In the deal, Total will acquire [...]
