US Launches Africa Trade Desk, Targets $300mn Deals in 18 Months
Prosper Africa, a US government national security initiative, has announced the launch of Africa Trade Desk, a platform to link African agricultural producers and suppliers with large US food retailers. [...]
Bank of Uganda Downgrades 3 Tier 1 Banks to Credit Institutions
Three commercial banks in Uganda will transition from Tier I commercial banks to Tier II credit institutions , the Bank of Uganda said in a statement on Wednesday. “The three [...]
High Inflation Pushes MTN out of Two African Countries
MTN Group, Africa’s largest network operator by subscriber base, has sold its equity stakes in MTN Guinea-Bissau and Guinea-Conakry to Africa-focused telecommunication service, Telecel. “Telecel, an established telecoms operator with [...]Roam Opens its First Electric Motorbike Shop in Nairobi
Roam, an electric mobility startup, has partnered with Ridewell to establish its first showroom in Nairobi, as part of its strategy to boost the sales of electric motorbikes. Nairobi is [...]WPP Scangroup to Restructure Units, Declare Staff Redundancies
Listed advertising firm WPP Scangroup is planning to lay off staff and restructure roles in some of its units as it struggles to meet its revenue targets. The listed firm [...]KCB to Sell National Bank of Kenya to Access Bank
KCB Group CEO Paul Russo has confirmed that the regional lender is in the process of selling its struggling subsidiary National Bank to Nigerian lender Access Bank. The board evaluated [...]National Bank Urges Calm after News of its Sale by KCB Group
The National Bank of Kenya (NBK) has downplayed its likely sale by the KCB Group assuring its customers that all was well and business operation was usual. “We want to [...]Moove Secures $100 Million Funding from Investors Led by Uber
Moove, a mobility fintech, has closed a $100 million funding in its Series B round led by Uber and other financiers. This infusion of capital is set to amplify the [...]Kenya Licences Four Electronic Certification Providers
The government has licensed four electronic certification providers (E-CSPs) and is considering nine others, as it seeks to secure online transactions through verifiable digital signatures. “Trust is the foundation of every ecosystem and [...]Undersea Cable Cuts Disrupt Internet in Several African Countries
Internet connectivity in several African countries was interrupted Thursday after major undersea cables experienced temporary faults, network providers have reported. African Telecommunications giant, MTN Group, has reported internet outages in [...]13 Artisanal Mining Sites Closed in Marsabit County Over Insecurity
The government has ordered closure of 13 artisanal mining sites in Marsabit county to contain insecurity in the region. The move which will disrupt income flow in the area comes [...]EPRA Makes More Fuel Price Cuts in March-April Review
EPRA (The Energy and Petroleum Regulatory Authority) has announced lower fuel prices for the next month, bringing a huge relief to motorists and households that depend on kerosene. The applied [...]
