Ghana Raises Benchmark Rate to 22%-Biggest Hike Since 2002
Ghana’s central bank increased its benchmark interest rate by its biggest margin to tame inflation and stabilize the nation’s tumbling exchange rate at a special monetary policy meeting. Policymakers raised [...]
Uganda set to buy emergency short term power from Kenya
Uganda has announced it will purchase an emergency short term power of 60 megawatts from Kenya to stabilize supply after last week's heavy rains led to a shutdown of its [...]
Cross Border Social Fintech Changera Relaunches with Virtual Accounts and Dollar Cards
Cross-border social fintech “Changera” has announced a relaunch of its product with new features including virtual domiciliary bank accounts and as well as an overhaul of its brand identity. The [...]Google's Equiano Subsea Cable Lands in South Africa
Google has landed its Equiano undersea cable in Melkbosstrand, Western Cape,South Africa, just a month after it landed in Namibia. The cable system, which connects South Africa with Portugal is fully funded [...]Namibia's Central Bank Hikes Lending Rates to 5.5%
Namibia’s central bank raised borrowing costs by the biggest margin in almost two decades to safeguard its currency peg with South Africa’s rand and curb inflation. The monetary policy committee [...]Lori Systems Raises Undisclosed Series B Funding from Google
Lori Systems, an African on-demand logistics and trucking company digitizing haulage and providing shippers with solutions to manage their cargo and transporters, has raised an undisclosed amount in its Series [...]Johannesburg Seeks Power Supply From Private Firms
Johannesburg’s municipality intends to buy 500 megawatts of electricity from independent producers to help avert ongoing power outages in South Africa’s biggest city. A request for proposals is awaiting approval [...]UK to Cut Import Taxes on Goods from Developing Countries
The UK has announced plans to cut import taxes on hundreds more products from some of the world's developing countries, as it seeks to boost trade links. The Department for [...]Tanzania's Economy Grows by 5.4% in Q1 2022
Tanzania's economy grew by 5.4% in the first quarter of 2022, despite the spillover effects of the war in Ukraine and lingering impact of COVID-19. ;atest data by the National [...]Tanzania Partners with UAE for 2000MW of Renewable Electricity
Tanzania’s power utility firm, Tanesco has entered into a joint venture with a United Arab Emirates company to generate a further 2,000MW of electricity using renewable sources by 2024. This [...]Bolt to Serve Only Corporate Clients in Tanzania
Ride-hailing company, Bolt has announced that from today, in Tanzania, it shall only be available to corporate clients. The firm cites the regulatory environment that is causing “undue pressure on [...]Smile Identity Launches their Inaugural State of KYC Report
August 16, 2022 Smile Identity, the leading pan-African identity verification provider has today published its inaugural report on the State of KYC report H1 2022 where they delve into [...]
