News Archive

East/Southern Africa: World Bank provides USD 425 million for infrastructure financing

The World Bank has approved USD 425 million to support the Regional Infrastructure Financing Facility project which aims to ...

Tanzania: New lower middle income status improves nation’s creditworthiness

Tanzania’s access to international credit markets has been boosted after attaining the World Bank’s new minimum gross ...

East Africa: Region braces for another locust invasion in the face of a pandemic

A third outbreak of desert locusts, with billions of the destructive insects is about to hatch and threaten food supplies in a ...

Ethiopia: AfDB approves grant for Ethiopia-Sudan railway study

The African Development Bank has approved a USD 1.2 million grant to Ethiopia’s government to finance a two-year feasibility ...

Rwanda: USD 315 billion fund planned for Covid-19 recovery

Local businesses have been invited to apply for funding under the Economic Recovery Fund, a two-year facility established by the ...

Uganda: Coffee sales rise despite pandemic

Uganda coffee exports have continued to surge despite the coronavirus pandemic with April figures showing an increase of 18 ...

Kenya: tourism lobby draws up opening protocols during COVID-19

The tourism sector is working on four protocols that will ensure a safe reopening and maximum impact of a USD 56 million stimulus ...

Mozambique: Total secures USD 15 billion funding for Mozambique LNG

Total has reached a financing agreement with a consortium of banks, including the Rand Merchant Bank, to secure a USD 15 billion ...

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East Africa: EAC takes advantage of AGOA treaty to increase US exports

According to the latest US Trade and Investment with sub-Saharan Africa report, the East African Community members took advantage ...

East Africa: Region to Benefit from USD 500 million for locust invasion fight

The World Bank has approved a USD 500 million in grants and low interest loans to combat the natural threat of the region’s ...

Africa: Mobile money becomes lifeline as telecoms thrive in Covid-19 era

Mobile money and data have emerged as the lifeline in revenue growth for African-focused telecoms operators Vodacom Group and ...

Africa: Vodacom completes sale of operations in three African countries

Vodacom has completed the sale of its Business Africa operations unit in Nigeria, Zambia and Ivory Coast to Inq. Holdings, which ...

East Africa: Low crude oil prices to ease production costs in region

The drop in crude oil prices at the international market is set to ease pressure on widening current accounts, arrest a surge in ...

Tanzania: SGR project secures bulk of Ministry of Works budget

Parliament has approved USD 2.1 billion for the Ministry of Works and directed USD 950 million to be spent on the standard gauge ...

Africa: Safaricom sees Ethiopia deal opening gateway to Africa

Kenya’s largest mobile phone operator Safaricom is pinning its pan-African expansion plans on the Ethiopian market as the ...

Kenya: Turkana wind blows off electricity imports

The Lake Turkana Wind Power project has strengthened Kenya’s efforts to attain energy sufficiency, paving the way for reduction ...