TotalEnergies Faces Environmental Charges Over Uganda's Crude Oil Pipeline
TotalEnergies will on October 10 answer to charges of environmental and human rights abuse before the European Union parliament in Brussels, in a new threat to the actualisation of its [...]
Egypt to Raise $6 Billion from Stake Sales of State-Owned Businesses
Egypt is seeking to raise close to $6 billion before the middle of next year by selling stakes in state-owned businesses, as it seeks to revive an economy hit by [...]Ethiopia Caps Foreign Holding in its Local Banks at 30%
Kenyan banks planning to enter Ethiopia through local joint ventures will be able to buy only up to 30% stake in the latter's banks. The cap is applicable for foreign [...]Ethiopian Airlines Set to Own 49% Stake in New Nigeria Air
A consortium led by Ethiopian Airlines is the preferred bidder for shares in new Nigerian airline Nigeria Air. Ethiopian Airlines will own a 49% stake in the new airline, while [...]South Africa Central Bank Raises Key Interest Rate by 75 bps to 6.25%
South Africa’s central bank raised interest rates by three-quarters of a percentage point for a second straight meeting, fully unwinding its extraordinary pandemic-era stimulus measures. The monetary policy committee raised [...]
South Africa Inflation Slows Down to 7.6% Despite Expected Hike Rate
South Africa's inflation rate, which hit a record high of 7.8 per cent in July, edged down to 7.6 per cent in August from a year earlier, fuelled by a [...]Ethiopia's Economy Tanks Amidst Black Market Currency Trade
The gap between the Ethiopian currency’s official and parallel-market exchange rates widened to a record as foreign reserves dwindled and fighting in the country’s north resumed. On Wednesday, the birr [...]Ghana Citizens to Enjoy Cheaper Power amid Increased Demand
Ghana has signed up for a continental initiative aimed at providing cheaper power for its citizens through the new Regional Liquidity Support Facility (RLSF). The country recently signed a memorandum [...]Kenya's Exports to Tanzania Rise by 46% in H1 2022
Kenya’s exports to Tanzania grew the sharpest among all East Africa Community (EAC) markets in the six months to June 2022. Kenya’s exports to Tanzania jumped the highest by 46% [...]Shelter Afrique Approves $18.5 Million Loan for DRC
Pan-African housing financier, Shelter Afrique has approved an $18.5 million corporate loan to a Democratic Republic of Congo-based developer (Maison Super Development (MSD)) for three housing projects. The five-year facility [...]Ghana's Eurobonds Extend Decline Amid Debt Restructuring Plans
Ghana’s 2026 eurobonds declined 2.5% to 59.30 cents on the dollar on Tuesday, a record low. The debt has fallen 35% this year, sending the yield as high as 27.58%. [...]Barclays Expands Private Banking Operations in Africa, Targetting $ 2 Trillion Market
Barclays Plcis expanding private-banking services in Africa, looking to target the continent’s $2 trillion high-net-worth market. The British lender has hired nine bankers fromCredit Suisse Group AGbased in mainly Dubai, [...]
