Nigeria's Access Bank Acquires Majority Stake in Tanzanian Bank
Access Bank PLC will consolidate its entry into the East African market after acquiring the African Banking Corporation of Tanzania (ABCT) bank, a subsidiary of Atlas Mara Ltd. This strategic [...]
Optimizing the Economics of Sports to Dominate SportsBiz Forum in Kigali this September
African sports stakeholders will meet in Kigali, Rwanda this September for the inaugural SportsBiz Africa Forum which will set the continent's strategy in fostering investment and management of the industry. [...]African Airlines' Operating Revenue for March 2024 Hits US$ 1.74Bn AFRAA
African airlines are experiencing enhanced revenue performance, following a growth in traffic. AFRAA's estimate shows operating revenue for March 2024 at US$ 1.74 billion, a significant increase from US$ 1.39 [...]Rwanda's Central Bank Reveals Plans for Digital Currency by 2026
The National Bank of Rwanda (NBR) will join the list of other countries globally that have introduced digital currencies as alternatives to physical cash. The CBDC would be a digital [...]Nigeria Releases 98% of Blocked Airline Funds
Nigeria has released 98% of blocked airline funds, and the International Air Transport Association (IATA) now says just US$ 19 million of blocked funds remains due to the Central Bank’s [...]Share of Renewable Energy in COMESA Up from 1% to 6% in 8 Years
The share of renewable energy in the COMESA region has risen significantly in the last eight years, but thermal power still dominates at 76 percent, followed by hydropower at 24 [...]Africa's GDP Growth Drops to 3.1% in 2023 AfDB
Africa's GDP growth dropped to 3.1 percent in 2023 from 4.1 percent in 2022, attributed to significant structural challenges and multiple severe shocks, including heightened food and energy prices driven [...]Uganda on the Spot over Gold Imports Undeclared as Exports by Source Countries
The bulk of gold imported into Uganda has not been declared for export in the countries of origin, raising red flag of wanton smuggling of the yellow metal in the [...]Angaza Forum Hosts Dialogue in Nairobi on the Manifesto for African Women in Finance
On the sidelines of the African Development Bank Annual Meeting in Nairobi, Angaza Forum, in partnership with Ellen Johnson Sirleaf Presidential Center, Old Mutual Kenya, Organization of Eastern Southern [...]
Gold Worth US$ 30.7 Billion Smuggled Out of Africa in 2022 Study
The United Arab Emirates has been the main destination for tens of billions of dollars worth of gold smuggled out of Africa each year for the last decade, a new study published [...]Kenya to Pump US$ 100Mn into AfDB, Afreximbank and Trade Development Bank
Kenya will invest US$ 100 million in the African Development Bank (AfDB), Afreximbank, and Trade Development Bank to enable it increase its shareholding in the institutions in the next three [...]Fairness in Borrowing Rates, Investment Dominate AfDB Conference
African heads of states have pledged to ramp up their share contributions to the African Development Bank (AfDB) to enable the institution to viably fund entrepreneurs and empowerment programs across [...]
