South Africa's Inflation Slows Down to 7.4% in November 2022
South Africa's annual inflation rate eased to 7.4% in November of 2022 from 7.6% in the prior month, below market expectations of 7.5% but still above the upper limit of [...]
Sudan Signs $6 Billion Deal with UAE for New Red Sea Port
Sudan has signed a preliminary agreement with a group led by the UAE's AD Ports Group and Invictus Investment to build and operate the Abu Amama port and economic zone [...]Ethiopian Airlines to Double Fleet to 270 in 12 Years
Ethiopian Airlines Group has announced plans to almost double its fleet over the next 12 years and expand its global network as Africa’s largest carrier, seeking to better compete with Gulf [...]IMF Approves a $3 billion Credit Facility for Ghana to Stabilize the Economy
The International Monetary Fund (IMF) staff and the government of Ghana have reached a Staff-Level Agreement on economic policies and reforms, which will be supported by a new three-year arrangement [...]Kenya South Sudan Sign Cargo Deal after Lifting Agree Barriers
Kenya has revised its cargo deal with South Sudan that will see goods from and destined for the latter cleared at the Port of Mombasa. Chairman of South Sudan Freight [...]Tanzania's External Debt Hits $27.5 Billion
The Bank of Tanzania's (BoT) latest Monthly Economic Review (MER) for November 2022 has put Tanzania’s stock of external debt for both the public and private sectors at [...]US Pledges $55 Billion to Africa over the Next 3 Years
The United States (US) has pledged $55 billion in economic, health and security support for Africa over the next three years, ahead of the US-Africa Leaders summit. Beginning on Tuesday, the three-day [...]Uganda to Build New SGR from Kampala to Malaba Border
Uganda has announced plans to build a new standard gauge railway (SGR) linking the country’s capital, Kampala with the Kenyan border, seeking to lower the cost of transport and improve [...]China Approves Zero Tariffs from Nine African Countries in a Bid to Boost Trade
China has announced that it will waive tariffs on 98% of taxable imports from nine African countries starting 1 December 2022. The nine African countries are Benin, Burkina Faso, Guinea‑Bissau, [...]
Ride-Hailing Startup Little is Making its Way to Ghana in December
Little, the Pan-African ride-hailing service that debuted in Kenya in 2016 is finally making its way to Ghana! The company is expected to begin operations in Ghana on December 15, [...]Egypt's Inflation Rises to 18.7% in November 2022
Annual inflation in urban parts of Egypt accelerated at its fastest pace in almost five years, climbing 18.7% year-on-year in November, versus 16.2% the previous month It was the highest [...]Shelter Afrique Announces Plans to Tap into Pension Funds for Affordable Housing Projects
Shelter Afrique has announced plans to tap into the East Africa capital markets and pension funds to finance affordable housing projects in the region. Shelter Afrique’s Ag. Managing Director, Kingsley [...]
