How do Islamic Bonds Work?
The first Islamic bond in East and Central Africa has been floated and consequently listed on the Nairobi Securities Exchange, raising KSh3 billion at the first auction. SP Global reported [...]
Tanzania Signs US$77 Million Contract for Iron Ore Mining
Tanzania's National Development Corporation (NDC) has signed a US$77 million contract with Fujian Hexingwang Industry Tanzania to facilitate iron ore mining. According to NDC Managing Director, Dr Nicolous Shombe, the [...]WhatsApp Mulls Nigeria Exit after US$220 Mn Fine
Sources within Nigerian media have revealed that Meta's giant messaging platform, Whatsapp, may withdraw from the Nigerian market after the Federal Competition and Consumer Protection Commission (FCCPC) imposed a US$220 [...]Investment in African Health Tech Dips by 36% in H1 2024 Report
A healthcare consulting firm, Salient Advisory, has released its semi-annual report highlighting the top 20 innovators in Africa enhancing access of medical services by partnering with 100 manufacturers and 75 [...]64.8% of Africa's Population Unable to Afford a Healthy Diet-FAO Report
Two thirds of Africa's population is unable to afford a healthy diet, against a global average of a third, the Food and Agriculture Organisation (FAO) says in a recent report. [...]
Ethiopia Lifts Import Bans on Multiple Items, Maintains Ban on Fuel-Powered Cars
Ethiopia has removed import bans on more than 35 items but maintained its ban on imported fuel-powered cars, its Ministry of Finance said on Tuesday. In October 2022, the Ethiopian [...]Ethiopian Airlines Posts US$ 7.2 Bn Revenue amid Recent Backlash
Ethiopian Airlines has posted US$7.02 billion in revenue for the fiscal year 2023/2024, which ended on July 7. This represents a 14 per cent increase compared to the fiscal year [...]Kenya, Uganda Discuss Eldoret-Kampala Pipeline Extension
Kenya and Uganda have officially started discussions on extending the petroleum products pipeline from Eldoret to Kampala, which would cost of overland transport to Uganda and beyond. Extension of the [...]IMF Approves US$3.4 Billion for Ethiopia
The International Monetary Fund (IMF) Executive Board has approved US$3.4 billion under the Extended Credit Facility (ECF) for Ethiopia, following 5 years of negotiations. This is a landmark moment for Ethiopia, [...]Major African Headlines To Start Your Week: Currency Reforms, Geopolitical Tensions
There have been key developments across the African continent that will shape the markets over the next week and months including Ethiopia's radical plan to finally float its currency amid [...]Birr Slumps as Ethiopia Floats Currency to Meet IMF Conditions
Ethiopia has announced plans to liberalize her foreign exchange market effective today, ahead of the IMF meeting. The liberalization is expected to enhance the competitiveness and inclusiveness of the financial [...]EU, US Sanction Rebel Leaders for Conflict in Eastern DRC
The European Union (EU) and US have sanctioned more than ten people, including a high-ranking Rwandan military officer, and two entities, for serious human rights violations and abuses in the [...]
