DRC Plans to Unlock 5bn Barrels of Oil With Exploration and Export Deals
The Democratic Republic of Congo (DRC) is looking to unlock its billions of estimated oil reserves by signing deals with oil companies and its neighbors to boost exploration, production and [...]
Somalia Formalises Entry to EAC, Deposits Treaty of Accession
Somalia has deposited her instrument of ratification of the Treaty of Accession with the EAC Secretary General, making it the bloc’s 8th Partner State. The Secretary General will then deposit the [...]
Ethiopian Airlines Unveils First $55 Million E-Commerce Hub in Africa
Ethiopian AirlinesGroup has launched a $55 million e-commerce logistics facility at Bole International Airport, inside the Ethiopian Cargo Logistics premises. We have implemented high-end technologies in the infrastructure that [...]Zambia Declares National Disaster Amidst Food and Energy Crises
Zambia has declared a state of national disaster and emergency due to a severe drought that its president, Hakainde Hichilema, attributes to the the el Niño weather phenomenon, influenced by [...]Uganda's Microfinance Regulator Protests Move to Ministry of Finance
Uganda's microfinance sector's regulator, the Uganda Microfinance Regulatory Authority (UMRA), has protested a plan by the government to move it into the Ministry of Finance. “UMRA’s unique role in safeguarding [...]Radisson Group Targets 50% Expansion in West and Central Africa by 2030
Radisson Hotel Group is targeting a 50% expansion of its West and Central African portfolio, consisting of 29 hotels and over 5,000 rooms in operation and under development. The new signings [...]Uganda Parliament Pensions Scheme to Reduce Equity Investments in Kenya
Uganda's Parliamentary Pensions Scheme (PPS) is considering reducing its investments in Kenya due to macroeconomic challenges. “Wepropose to reduce allocation on stocks listed on Nairobi Securities Exchange and selectively reallocate [...]Disruptive Innovation in Africa's Digital Payments
Many businesses across Africa depend on bank partnerships and Fintech solutions to facilitate cross-border payments. There are 42 different currencies in the continent derailing trade flow and limiting enterprise expansion. [...]Autopax and Kofa Sign Deal to Expand Electric Mobility
Kenyan carmaker Autopax, and Ghanaian battery company Kofa have signed a deal to set up an electric motorcycle assembly and distribution plant. This partnership not only represents a significant leap [...]BAT Kenya Net Profit Drops 18.8% to KSh5.6Bn As Taxes Bite
British American Tobacco (BAT) Plc, a listed tobacco manufacturer, has posted an 18.8% decline in its net profit for the full year 2023 to KSh 5.6 Billion from KSh 6.9 [...]
Africa Finance Corporation (AFC) Appoints Emeka Emuwa as Board Chair
Africa Finance Corporation (AFC) has appointed Emeka Emuwa as Chairman of its Board of Directors. Emuwa’s considerable experience, insightful perspectives and immense dedication to Africa’s development seamlessly align with our [...]CIB Egypt Posts EGP 29.6bn Net Profit in 2023
Commercial International Bank Egypt (CIB) S.A.E recorded a profit of 29.7 Billion Egyptian Pounds (~USD 958mn) in 2023, compared to 16.1 Billion Egyptian pounds at the end of 2022, up [...]
