Bamburi Cement Owner Holcim Sells Nigerian Unit for US $1bn
Holcim AG, a Swiss building materials company and the majority shareholder in Bamburi Cement, has signed an agreement to sell its entire Nigerian business to Chinese firm Huaxin Cement for [...]
INTERPOL Arrests Kenyans Involved in KSh 1.1bn Credit Card Fraud
More than 20 Kenyans have been arrested after a two-month sting operation conducted by the INTERPOL and AFRIPOL to thwart 134,089 cybercrime networks, in which the two transnational law enforcement [...]KenGen signs KSh 250mn Geothermal Deal with Eswatini
Listed energy firm KenGen will conduct geoscientific studies in three regions of Eswatini to determine the feasibility of developing a geothermal power plant in the country, after signing a KSh [...]E-commerce Sales Up 83% as Consumers take Advantage of ‘Black Friday’
The decision by online merchants to extend the sales period for discounted items from ‘Black Friday’ to ‘Black Friday week’ inclusive of Cyber Monday led to the surge [...]Kenya's Mawingu Acquires Arusha-based Internet Service Provider Habari for KSh. 1.9bn
Mawingu Networks, a Kenyan Internet Service Provider (ISP) has acquired Habari, an Arusha-based ISP, for KSh 1.9bn. “This acquisition, along with an additional $15 million of financing, will enable Mawingu [...]Makini Group of Schools' Owner ADvTECH Acquires Ethiopian School for $7.5mn
Makini School’s owner ADvTECH has concluded a $7.5 million agreement to acquire 100% interest in Ethiopia’s Flipper International School. “As Addis Ababa experiences rapid urbanization, the demand for high-quality education [...]Zimbabwe’s Inflation Slows amid Interest Rate Hike, Currency Devaluation
Zimbabwe’s monthly consumer inflation eased significantly to 11.7% in November, from 37.2% in October the first decrease in 4 months. In September the month on month consumer inflation stood [...]Zimbabwe Pledges to Increase Healthcare Budget from Domestic Sources
Harare has committed to increase financing to healthcare through different existing and future policies including a sugar tax, a health levy, and a National Health Insurance. We will have periodical [...]
Jubaland and Mogadishu Standoff Escalates after Ahmed Madoobe Reelected President
A brewing standoff between the Federal Government of Somalia and the Jubaland State over the latter's decision to defy a switch to one-man one-vote electoral system is nearing armed confrontation, [...]
Over 80% of African Startup Founders Face Mental Health Issues Flourish Ventures Survey
86% of founders report that building their startups has taken a toll on their mental health, a survey by early-stage venture capital firm Flourish Ventures has found. “Prioritising founder wellbeing [...]Botswana's New President Advocates for Continental Accountability and Governance
Africa’s economic success and sustainability are intrinsically linked to accountable governance, Botswana’s newly elected President, Duma Boko, stressed at the opening of the 2024 African Economic Conference (AEC) in Gaborone. [...]COMESA's Proposes Quick Fixes to Address High Vegetable Oil Prices
The Common Market for Eastern and Southern Africa (COMESA) is mulling a couple of measures to contain the runaway prices of refined vegetable oil in the region. “These increases happened [...]
