Kenya Leads East Africa with US$ 600 Million Worth of Deal Activity in 2023
Kenya led East Africa in deal activity in 2023, with a total of 96 deals worth US$ 600.3 million, followed by Tanzania at 12 deals worth US$ 285 million, and [...]
Ethiopia's Stock Exchange Surpasses Capital Target by 240%
Ethiopia's plans to launch a stock market are taking shape, after the Ethiopian Securities Exchange (ESX) announced it had surpassed its capital-raising phase by over 200%. The ESX kicked off [...]
Tanzania Hikes Interest Rate to 6 Percent
The Bank of Tanzania (BoT) has raised its central bank rate (CBR) from 5.5 percent to 6 percent, a move its central bank said is aimed at containing the lingering [...]Kenya and Ghana Sign MoUs to Improve Bilateral Relations
Kenya and Ghana will foster trade links and strengthen bilateral ties after President William Ruto signed seven MoUs during a three-day state visit to the West African nation yesterday. This [...]Marriott International Leads in Chains Development with 138 Hotels
The world’s largest hotel chain, Marriott International has the largest number of pipeline hotels and rooms, according to a recent survey conducted by Lagos-based W Hospitality Group, in association with [...]AfDB Sanctions Chinese Firm for Graft in Uganda
The African Development Bank Group (AfDB) has reached a negotiated settlement with China Henan International Cooperation Group over failure to disclose it used a commission agent for a road project [...]Kenya’s Inflation Rate Down to 5.7% in March on Flour, Fuel Price Drop
Kenya’s monthly inflation, as measured by the Consumer Price Index(CPI) fell to 5.7% in March compared to 6.3% in February, the first time it has fallen below 6% in two [...]
US Launches Africa Trade Desk, Targets $300mn Deals in 18 Months
Prosper Africa, a US government national security initiative, has announced the launch of Africa Trade Desk, a platform to link African agricultural producers and suppliers with large US food retailers. [...]Bank of Uganda Downgrades 3 Tier 1 Banks to Credit Institutions
Three commercial banks in Uganda will transition from Tier I commercial banks to Tier II credit institutions , the Bank of Uganda said in a statement on Wednesday. “The three [...]Angaza Awards Unveils 2024 Top 10 Women Shaping Africa's Financial Sector
The Angaza Awards for Women in Banking, Finance, and Investment has unveiled the Top 10 women shaping Africa's financial services landscape. After a four-month submission period, attracting professionals from 11 [...]High Inflation Pushes MTN out of Two African Countries
MTN Group, Africa’s largest network operator by subscriber base, has sold its equity stakes in MTN Guinea-Bissau and Guinea-Conakry to Africa-focused telecommunication service, Telecel. “Telecel, an established telecoms operator with [...]Binance Faces Tax Evasion Charges in Nigeria as Executive Flees
The Nigerian Federal Government filed tax evasion charges against Cryptocurrency giant Binance on Monday, according to media reports. Any company that transacts business above N25 million annually is deemed by [...]
