Opinion: Kenya and Africa are Ready to Join the Future of Cloud
It is sometimes too easy for the world to wrongfully assume that Africa lags too far behind the global cloud innovation revolution happening. That is a fundamentally flawed outlook. As [...]
Nigeria Suspends 5% Excise Duty on Mobile Services
Nigeria has suspended plans to add a 5% excise duty on telecommunications services, saying the sector is already overburdened with taxes. The move comes despite the need for new revenue [...]
British International Investment to Invest $100 Million in Egyptian Startups
The UK government’s development finance institution (DFI) British International Investment (BII), formerly known as CDC Group, has announced its plan to invest $100 million in Egyptian startups over its current [...]Ascent Capital Raises KES 15 Billion to Invest in SMEs in East Africa
Private-equity fund manager Ascent Capital has raised a KES 15.4 billion fund to invest in SMEs in East Africa, looking to take large minority or majority stakes. The targeted sectors [...]Uganda's Public Debt Rises by 22% to Hit $20 Billion
The recently released parliamentary committee report on the national economy and the state of indebtedness, grants, and guarantees indicates that Uganda's public debt stock has increased by 22%. The money [...]Egypt's Inflation Rises to 14.6% in August
Inflation in urban parts of Egypt accelerated to its fastest level since November 2018 on the back of higher food costs.Consumer prices climbed 14.6% from a year earlier in August, [...]IFC Set to Invest $160M in Safaricom Ethiopia
The World Bank's private investment arm, the International Finance Corporation (IFC), said on Thursday it planned to inject up to $ 160 million in equity into telecoms firm Safaricom Ethiopia [...]
Angola Tops Nigeria as Biggest Oil Producer in Africa
Nigeria lost its crown as Africa’s largest crude producer as Angola surpassed the country for the first time in more than five years. Angola’s average daily output in August of [...]The Investing In Africa Event Not To Be Missed 10th and 11th October, London, UK
AFSIC – Investing in Africa 2022, Africa’s investment event, www.afsic.net, scheduled for the 10th and 11th October in London promises this year to deliver some exceptional investment and networking opportunities [...]Uganda's Farmers Millers Seek to Ban Maize Exports
Ugandan farmers and millers are vouching for a ban on the export of maize, seeking to retain husks used for the manufacture of animal feeds. Following the disruption of grain [...]Afreximbank Pledges $700 Million for Africa-Caribbean Trade
The African Export-Import Bank (Afreximbank) has pledged a $700 million investment towards setting up a regional bureau in the Caribbean to support Africa-Caribbean trade. But first, a partnership agreement must [...]Tanzania Cuts Fuel Prices amidst Slowdown in Global Oil Prices
Tanzania's Energy and Water Utilities Regulatory Authority (Ewura) has cut fuel prices in response to a slowdown in global oil prices. In its newly published statement, Ewura says a litre [...]
