Kenyan Web3 Startup Nuzo Launches Blockchain-powered eCommerce for Africa
Nuzo.co, a Kenyan Shop-to-Earn eCommerce marketplace for small and medium-sized businesses recently hosted its launch event in Nairobi, Kenya. Nuzo users earn Nuzo Coins when they buy and sell online [...]
Somalia Signs $7 Million Oil Exploration Deal with US Company
Somalia’s government signed an oil-production sharing agreement with US-based Coastline Exploration Ltd., the latest step toward developing the country's energy industry. Coastline, based in Houston, Texas, paid $7 million to [...]NSSF Uganda's Assets to Hit $5 Billion in 2023
Uganda’s National Social Security Fund, the largest money manager in East Africa, plans to accelerate the expansion of its asset base to $5 billion by 2023. Managing Director Richard Byarugaba [...]Madalo Minofu Appointed IFC Country Manager for Ethiopia, Malawi and Zambia
IFC has appointed Madalo Minofu as its new Country Manager for Ethiopia, Malawi and Zambia, effective 1st October. In her new role, Minofu will help strengthen the role of the [...]
Qatar Set to Acquire 20% Stake in Vodafone Egypt
Qatar Investment Authority is planning to spend around $2.5 billion to buy 20% stake in Egypt’s biggest mobile network operator, Vodafone Egypt from Telecom Egypt Co. The deal with Qatar would [...]Ghana’s Cedi Slumps to World’s Worst Performing Currency Amid IMF Talks
Ghana’s cedi slumped to become the world’s worst-performing currency this year as investors continued to squeeze foreign capital into the west African country before a deal with the International Monetary [...]Nigeria's Inflation Hits a 17-Year High of 20.8%; Food Prices Soar
Nigeria’s inflation rate hit a fresh 17-year high in September, stoked by a slide in the value of the naira that raised the cost of imported goods like gas and [...]Angola Accelerates Plan to Repay $ 18 Billion Debt to China
Angola is taking advantage of higher oil prices to accelerate its debt-reduction plans and smooth out repayments to China, its largest creditor. Africa’s second-largest crude producer owes China $18 billion, [...]Africa's Annual Exports Projected to Hit $540 Billion by 2030
Africa’s annual exports are expected to double to $540 billion by 2030 from a decade earlier, mainly on the back of shipments from Nigeria to the Asian nations of India, [...]Pezesha EzyAgric Partner to Offer Buy Now Pay Later Services in Uganda
Agritech company, EzyAgric has partnered with Pezesha (a digital financial marketplace platform for SMEs) to offer a new product that brings Buy Now Pay Later services to agro-inputs merchants in Uganda. The [...]Kenya ranked eighth in 2022 Absa Africa Financial Markets Index (AFMI)
Better environmental, social, and governance (ESG) market frameworks helped Kenya move up six points to eighth place out of 26 in the latest Absa Financial Markets Index (AFMI). Kenya obtained [...]Nigeria to Consider Debt Restructuring on the Rising Debt Burden and Low Revenues
Nigeria is considering restructuring its debt and extending the repayment period of its credit obligations, and appointed consultants to advise the government as it faces a rising debt-service burden, Finance [...]
