User-agent: * Disallow: /cgi-bin/ Disallow: /tmp/ Disallow: /junk/
McKinsey’s latest report on Africa-China economic partnership challenges previous beliefs
Through a study conducted across eight countries that together make up about two-thirds of Sub-Saharan Africa’s GDP, the report...
Magufuli eats humble pie, Allows foreigners to Buy shares in Telecoms After Vodacom IPO flops
Tanzania will allow foreign investors to buy shares in telecommunications companies listing on the domestic stock exchange, after an...
Tanzania bans unprocessed food crop exports
Tanzania has banned the export of foodgrain following concerns over an increase in food smuggling to neighbouring countries. At...
South Africa’s Anti-corruption watchdog wants answers: Did Barclays Africa benefit from apartheid-era bailout?
South Africa’s anti-graft watchdog has reopened an investigation into whether Barclays Africa Group benefited from an apartheid-era bailout, the bank said on Friday. A preliminary report by the country’s Public Protector has found that the apartheid government breached the constitution by supplying Bankorp, which was acquired by Barclays Africa... Read more
Botswana Based eco-tourism Multi national raises 35 Million dollars in expansion money
Botswana based multi-national ecotourism company, Wilderness Safaris, operating nearly 40 luxury safari camps across eight African countries, has successfully raised a USD35 million bilateral loan for the purchase of a new ecotourism company in Kenya and for further expansion across Africa.   This structured, multi-currency loan facility was led... Read more
Digital remittance service completes series of strategic deals with Cameroon partners Leading remittance service WorldRemit is set to accelerate adoption of digital money transfers to Cameroon, after completing a series of strategic deals with local partners. WorldRemit’s new partnerships with MTN Mobile Money, Express Union and Banque Atlantique ensure that... Read more
Food drives fall in Uganda’s October inflation to 4%
Uganda’s inflation was slightly lower at 4.1 percent year-on-year in October, the statistics office said on Monday, driven by a slowdown in food prices. Month-on-month inflation increased by 0.9 pct in October, unchanged from September. The year-on-year inflation in September was 4.2 percent. Annual core inflation was revised to... Read more
MTN suspends Nigeria dividend payout amid 14 Billion dollar illegal funds transfer row
South African mobile phone operator MTN Group has suspended dividend payouts from its Nigerian unit, it said on Monday, amid allegations that it illegally moved $14 billion out of the west African country. “MTN Nigeria continues to refute the allegations that MTN Nigeria had improperly repatriated funds from Nigeria,”... Read more
Uganda’s central Bank takes over Crane Bank owned by Uganda’s richest man, fires CEO
Uganda’s central bank said on Thursday it had taken management control of mid-tier Crane Bank because it did not have sufficient capital and posed a systemic risk to the financial system. Bank of Uganda Governor Emmanuel Tumusiime-Mutebile also told a news conference the lender would remain open and operate... Read more
UBER drivers in Nigeria will now receive Car loans from first Bank
Uber Nigeria today announced that it is now making low-interest, used-vehicle loans available to its top-rated driver-partners. The pioneering move is the result of partnerships entered into between Uber Nigeria and First Bank of Nigeria Limited, as well as smaller financiers. This means that, for the first time, Uber... Read more
South Sudan government closing rebel linked Businesses
Security authorities in South Sudan last week forced several airlines including two Kenyan companies to move from their offices at Juba International Airport with little notice. An aviation source said that last Thursday security personnel closed the offices of Kenya Airways, Fly540, and a number of charter operators, giving... Read more
Dangote Cement and other foreign owned firms targeted in Ethiopia’s Oromo Protests
Foreign-owned companies have become the latest targets of violence during the unrest in the Oromia region of Ethiopia. Government officials are worried the violence could derail the country’s economic growth, but analysts say addressing protesters’ grievances is also key to maintaining the nation’s upward economic trajectory. “You cannot just... Read more
FINANCIAL MARKETS WATCH: South African Prime Minister to be charge with Fraud
South African finance minister Pravin Gordhan said on Tuesday prosecutors had delivered a summons to his house for him appear in court on Nov. 2 in relation to the establishment of a tax service surveillance unit set up a decade ago. “It looks like we are in a bit... Read more