East African Cables Sells Majority Stake in Tanzanian Unit
East African Cables PLC has sold a 51% stake in its Tanzanian subsidiary to Msufini (T) Limited as it embarks on a turnaround strategy. In mid-2023, EA Cables obtained a [...]
Somalia Formalises Entry to EAC, Deposits Treaty of Accession
Somalia has deposited her instrument of ratification of the Treaty of Accession with the EAC Secretary General, making it the bloc’s 8th Partner State. The Secretary General will then deposit the [...]Visa Appoints Chad Pollock New General Manager for East Africa
Visa has appointed Chad Pollock as Cluster Country Manager and Vice President for East Africa. Chad is a seasoned leader with a diverse background across the finance, technology, and energy [...]Kenya to Resume Bulk Avocado Exports this March
Kenya will resume the export of avocado fruits in March this year after the Agricultural Food Authority (AFA) lifted its three-month suspension. Kenya exports its avocado fruits to the Netherlands, [...]
Ethiopia Issues Licensing Directives for Capital Market Service Providers
Ethiopia has issued a legal directive that will govern the licensing of capital market service providers as the nation seeks to consolidate the securities and exchange sector. The directives came into [...]Kenya-Tanzania Lock Horns Over Aviation Rights
Diplomatic relations between Nairobi and Dar es Salaam are once again under strain following a decision by the Tanzania Civil Aviation Authority (TCAA) to rescind approvals for Kenya Airways (KQ) [...]World Bank: Urgent Reforms Needed to Enable Strong Private Sector-Led Growth in Tanzania
The report shows that Tanzania’s structural transformation has slowed in recent years and the economy has not created enough jobs in higher-productivity sectors.
Kenya and EU Sign New Ambitious Trade Deal
Kenya and the European Union (EU) have signed an Economic Partnership Agreement (EPA) to boost bilateral trade in goods, increase investment flows, and contribute to sustainable economic growth. The EU [...]Equity Group Completes Acquisition of Rwandan Bank
Equity Group Holdings Plc (EGH), has completed its acquisition of Rwanda’s bank, Compagnie Générale de Banque (Cogebanque) Plc. Simultaneously, EGH offered to acquire all the remaining shares from the rest [...]Bigstore Secures Funding, Expands eCommerce Services
Ecommerce company Bigstore.africa, has announced that it has received an undisclosed investment in its recently completed angel funding round. “Our goal is to bring back trust in ecommerce in Kenya [...]KCB Group Profits Rise Marginally, Assets Surpass KSh. 2trn
KCB Group is now the first bank in the region with an asset size over Kshs. 2trillion.Longhorn Publishers to Delay Publication of End-Year Results
Longhorn is having its share of accounting issues at a time when banks in Kenya are also grappling with the International Financial Reporting Standard (IFRS) 9.
