News

Ethiopia: African Telco titans Vodacom, MTN battle for lucrative Ethiopia deal

The battle for the lucrative Ethiopian telecommunications market has narrowed down to consortia led by two of Africa’s telecom giants, Vodacom and MTN Group, setting another stage for their sustained competition for the continental market.

East African: Regional firms in list of continent’s most valuable brands

A recent report by AfricanFinancials Group titled Sub-Saharan Top 30 Equity Valuation shows that eight East African listed firms, largely from Kenya and Tanzania, made it to the list of sub-Saharan Africa’s most valuable brands.

Africa: Afreximbank launches USD 1 billion transit guarantee scheme

African Import-Export Bank has launched a USD 1 billion transit guarantee scheme covering the Common Market for Eastern and Southern Africa designed to reduce trade costs, promote African trade, improve tax collection, and free up working capital.

Africa: Continent will reach 3.4 percent economic growth in 2021

The African Development Bank expects Africa to recover from its worst recession in 50 years and reach 3.4 percent economic growth in 2021 despite challenges of a global pandemic and external economic shocks.

Nigeria / Morocco: OCP, Nigeria Sign Agreements to Advance Fertilizer Production Partnership

Morocco’s state-owned phosphate and fertilizer group OCP is moving forward with its commitment to assist the Nigerian government to achieve its goal of developing its agricultural industry.

Ghana: Boost for exporters as Ghana, UK seal trade agreement

Ghana has signed a trade partnership agreement with the UK that will secure tariff-free trade and provides a platform for greater economic and cultural cooperation

UGANDA: Total, Eacop oil deal in high gear after call for bids

Uganda is keen on oil and gas deals through local content provisions after Total and the East African Crude Oil Pipeline invited bids for various services, a sign that the long-awaited final investment decision which is expected to unlock USD 10 billion worth of investments is well underway.

Kenya: British products get 25-year tax free entry in Kenya pact

Kenya’s trade pact with the UK will open the window for British companies to ship in finished and unfinished goods that exclude agricultural and industrial products for 25 years at the expiry of a seven-year moratorium.

Morocco: EU Removes Morocco From ‘Grey List’

The European Union has removed Morocco from the “grey list” of non-cooperative third countries, a decision which will make it easier for Moroccan companies to raise funds from international economic actors and DFIs.

gas plant

Nigeria: NNPC set to build USD 3 billion methanol plant

Nigeria’s bid to grow its domestic gas production has received a boost after state-owned oil firm Nigerian National Petroleum Corp. signed a final investment decision to build the country’s first USD 3 billion methanol-processing plant.

Botswana: Effort to attract non-diamond exploration instesified

Botswana has intensified efforts to digitise and make geoscience information readily available to local and international potential investors to encourage prospecting for non-diamond minerals and attract investment in the extractive industries.

Nigeria: Banks seek new business away from treasury bills

Nigeria’s largest banks may be set to embark on a round of acquisitions as they seek to diversify their sources of income away from treasury bills.

Africa: Continent’s diversified economies to rebound quicker

Sub-Saharan Africa will see a growth of 2.7 percent this year, a welcome rebound from the region’s first recession of 25 years in 2020 after it shrank by an estimated -3.7 percent.

East Africa: Kenya joins Tanzania, Uganda in taxing digital transactions

Kenya has joined Tanzania and Uganda in taxing digital transactions on services offered through the digital marketplace including downloadable digital content and over-the-top services that include streaming television shows, music and podcasts.

Africa: CDC Group targets USD 1 billion in African investments

The CDC Group is planning about USD 1 billion in African investments this year in areas particularly focused on accelerating its climate-related and technology-based investments across various sectors, including infrastructure and finance.

Tanzania: USD 1.32 billion China support secured for SGR

Tanzania has signed a USD 1.32 billion contract in Chinese support for the ongoing construction of the standard gauge railway as it looks at tapping into China’s huge market through reciprocal import and export trade.