Ethiopia and South Sudan agree to construct oil route
South Sudan's President Salva Kiir and Prime Minister Hailemariam Desalegn have agreed to build a road linking the two countries enabling South Sudan to export its oil to the landlocked [...]
LSE listed Acacia Mining Discovers High Grade Gold in Western Kenya
London Stock Exchange listed Acacia Mining has announced the discovery of an estimated 1.31 million ounces (Sh125,800 per ounce = Sh165 Billion) of gold resources on the Liranda Corridor within its West [...]BMI Expects Ugandan Banking sector to improve in 2017
According to BMI Research, Ugandan banking sector will benefit from rising credit growth and robust government securities issuance in 2017 on the back of a lower CBR which is likely to cause banks [...]Ethiopian Diaspora Raise $2.1M for construction of GERD dam
Ethiopia's Ministry of Foreign Affairs has announced that the Ethiopian Diaspora Community' in different parts of the world raised USD 2.1 Million to back the construction of the controversial 6,000-megawatt, Grand Ethiopian [...]Barclays Africa Full Year Profit Up Slightly By 5%
South African lender Barclays Africa reported a slower pace of earnings growth with a 5% rise in year profit on Thursday, hit by rate hikes at home and sluggish growth [...]Rwanda IM Bank IPO Extended To 10th March
Rwanda's regulator and IM Bank have agreed to extend the deadline on sale of government's 19.8% stake in the Bank to March 10 from the initial plans to close on March 3, 2017. [...]BAT Uganda Net Profit Stumbles By A whooping 65%
British American Tobacco Uganda (BATU) has blamed the increased taxation and a tough economic environment for the decline in its 2016 net profit position which declined by 65% to Ushs7.8 billion [...]French PE Firm Amethis Finance acquires 40% stake in Kenya's Kenafric Industries
French Private Equity Firm Amethis Finance together with its partners have acquired a 40 per cent stake in East African packaged food business Kenafric Industries. Kenafric Group was founded in 1987 by Velji [...]Tanzania; Tigo Airtel Yet To Agree On Dar Listing
The planned initial public offerings (IPOs) for Airtel Tanzania and Tigo Tanzania will have take longer than expected with reports emerging that shareholders of the two companies haven't agreed on the number [...]Survey; Africa's Best Worst Airports of 2016
Sleeping Airports, an internationally recognized travelers' online guide has released a report on Africa's Best and worst Airports of 2016 based on response from travellers experiences of different airports around [...]Kenya Power to import Cheaper Reliable Electricity from Ethiopia
Kenya Power has announced plans to start importing cheaper, clean and reliable electricity from Ethiopia saying the move will help it reduce cost of electricity as well as accelerate its goal of connecting over [...]AFDB approves new US$28.2 Million funding injection in Shelter Afrique
The African Development Bank has disbursed an equity investment of US $28.2 million in Shelter Afrique, a Development Finance Institution investing in affordable housing for Africa. On February 14, 2017, [...]
