Moove Secures $100 Million Funding from Investors Led by Uber
Moove, a mobility fintech, has closed a $100 million funding in its Series B round led by Uber and other financiers. This infusion of capital is set to amplify the [...]
Economic Implications of Internet Disruptions Caused by Undersea Cable Cuts
Internet interruptions resulting from damaged undersea cables along the West African coast last week revealed the precarity of the continent's digital infrastructure and the economic turmoil it may cause. Major [...]Undersea Cable Cuts Disrupt Internet in Several African Countries
Internet connectivity in several African countries was interrupted Thursday after major undersea cables experienced temporary faults, network providers have reported. African Telecommunications giant, MTN Group, has reported internet outages in [...]Kigali Gears Up for Africa CEO Forum 2024
The 2024 Africa CEO Forum, scheduled for May 16th and 17th in Kigali, Rwanda, will gather over 2,000 CEOs, investors, and public sector leaders from across Africa and beyond. “We [...]
US Sanctions Crown Bus, 15 Others, for Terror Financing
The United States has sanctioned Kenyan-based transport company Crown Bus and 15 other companies and individuals for facilitating Al-Shabaab's $100million annual income flows. “Today’s action is part of a multifaceted [...]Kenya Woos Egyptian Investors with EU, US Trade Deals
Kenya is banking on its trade deal with the European Union and its central location in East Africa to woo Egyptian investors to the country, government officials said during the [...]Africa Fintech Summit Announces First Roadshow Ahead of AFTSNairobi in September
Africa’s financial technology leaders will be gathering in Washington DC, USA, on the sidelines of the IMF/World Bank Spring Meetings on April 17, 2024, ahead of AFTS Nairobi on September [...]TDB, SMBC, Citibank, JICA Announce EUR 240mn Deal for Private Sector Growth
The Eastern and Southern African Trade and Development Bank Group (TDB Group), Japan International Cooperation Agency (JICA), Citibank, and SMBC Group (SMBC) have signed a EUR 240 million facility agreement [...]Bamburi Cement Exits Ugandan Subsidiary after Selling 70% Stake
Bamburi Cement PLC has sold 1.3 million ordinary shares of its Ugandan unit to Sarrai Group Limited and Rwimi Holdings amidst shrinking demand in the cement market. The board of [...]East African Cables Sells Majority Stake in Tanzanian Unit
East African Cables PLC has sold a 51% stake in its Tanzanian subsidiary to Msufini (T) Limited as it embarks on a turnaround strategy. In mid-2023, EA Cables obtained a [...]Egypt Devalues Currency, Hikes Interest Rates
The Egyptian Pound lost more than 50% of its exchange rate value against the dollar after the country's central bank adopted a flexible exchange rate, hiked interest rates The country [...]Global HR Company Deel Acquires South Africa's PaySpace
Global HR company Deel has acquired payroll and HR solution company PaySpace for an undisclosed amount, in one of Deel’s largest acquisitions to date. PaySpace’s single-platform payroll expertise and breadth of [...]
