Ethiopia's Parliament Approves Entry of Foreign Banks
Ethiopia will allow foreign banks to tap into the country's financial sector by setting up subsidiaries, branches or representative offices. The new proclamation will also allow foreign banks to buy [...]
AfDB Approves US $108mn Loan for Zambia
The African Development Bank Group approved a loan of $108 million to Zambia aimed at strengthening the country's economic governance and implement reforms in key public sectors. “This is a [...]
Kenyan Accelerator Catalyst Fund Selected for KSh 33mn Climate Initiative
Catalyst Fund, a Kenyan pre-seed accelerator, will receive over KSh 33 million as it joins four other African VCs in the 2025 phase of the Empowering Sustainable Entrepreneurship in Africa [...]How Startups Can Position for Success During the African Tech Ecosystem's Funding Winter
The global funding slowdown has particularly hit African startups hard, with venture funding seeing almost a 40% year-on-year decline when comparing 2023 and 2024, according to Africa: The Big Deal. [...]
AfDB Approves US$ 140mn for Eswatini Roads
The African Development Bank (AfDB) has approved a US $140.6mn loan for the Kingdom of Eswatini to improve road links between the Lubombo and Shiselweni regions. “Above all, the project [...]US, UK Sanction Kamlesh Pattni, 27 Others for Gold Smuggling, Money Laundering
Kenyan businessman and politician Kamlesh Pattni is among 28 individuals and businesses based in Zimbabwe sanctioned by U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the [...]Kenyan Exports to Rwanda Overtake Tanzania’s amid Dar-Kigali Trade War
The value of Kenyan exports to Rwanda grew by over 240% from US$35.56 million in September to US$121.4 million in October, according to the new statistics from Kigali. “The deficit [...]McKinsey Africa Fined Over US$ 122mn for Bribing South African Officials
McKinsey Africa, a subsidiary of global consulting firm McKinsey, will pay over $122mn in fines to resolve a US Justice Department investigation into a bribery scheme involving South African government [...]Citi Economist On Trump Administration's Implications for Sub-Saharan Africa
Donald Trump's first presidency has often been described as transactional, prioritizing America First policies that reshaped U.S. foreign relations. Economic Impacts of Trump's Policies Trump's trade policies, particularly his tariffs [...]
Is Africa on the cusp of a new Growth Spurt in 2025?
Despite on-going challenges across Sub Sahara Africa (SSA), Citi economists have indicated that that the continent is undergoing another important moment in its growth trajectory. David Cowan, Citi Economist for [...]Ghana Unlocks US$360Mn from IMF as Elections Loom
Ghana has secured US$360 million from the International Monetary Fund (IMF) after the successful third review of the 36-month Extended Credit Facility Arrangement. “The authorities’ economic strategy is delivering on [...]AfDB Approves $170mn Loan for Egypt's Largest Wind Energy Project
The African Development Bank (AfDB) has approved a $170mn loan to support the construction of Egypt's GW Suez Wind Project, which is expected to cost $1.1-$1.5bn to complete. This project [...]
