News Archive

Tanzania: Construction of country’s first wind farm nears completion

The installation and testing of wind turbines is expected to be finalised by May, heralding the completion of Tanzania’s wind ...

Kenya: Competition Tribunal eases merger conditions for Telkom Kenya and Airtel

Airtel and Telkom Kenya can now sell up to 40 percent of their merged business following a ruling by the Competition Tribunal, ...

Africa: M-Pesa acquisition boosts expansion plans into African markets

Vodacom and its subsidiary Safaricom have announced their joint acquisition of M-Pesa from Vodafone, positioning the venture at a ...

East Africa: Region to reap big from AfCFTA trade bloc

East African countries are set to receive approximately USD 1.8 million in welfare gains once the African Continental Free Trade ...

Tanzania: Growth prospect entices EABL to increase stake in Dar brewer

Regional beer giant East African Breweries is expected to spend at least USD 18.7 million to purchase an extra stake in Serengeti ...

Africa: Apple expands its support to African markets

Apple has announced the launch of its virtual platform App Store across 20 new countries in Africa and Euroasia as part of its ...

Nigeria: Domestic production boosted by USD 1 billion capital market fund

The Bank of Industry has raised an approximately USD 1 billion syndicated facility from the international capital market to ...

Ethiopia: Economic development plan receives USD 500 million backing

The World Bank has approved USD 500 million in funding to Ethiopia, intended to support the economic development plan of ...

Kenya: Gulf Energy shareholders receive USD 94 million in buy-out deal

The French multinational Rubis Energie has acquired Kenya’s Gulf Energy for around USD 94 million deepening its grip on the ...

Uganda: EU to foster trade ties and spur development

Over the next five years, the European Union (EU) is set to invest around USD 710 million in Uganda for trade and investment in ...

South Africa: IFC invests USD 200 million in LSE listed green bond

The Standard Bank of South Africa’s green bond is the largest of its kind in Africa and South Africa’s first such offshore ...

Kenya: Mahindra starts assembling vehicles

Indian automaker Mahindra has started assembling two commercial trucks in Kenya, becoming the latest global carmaker to start ...

Egypt: Eni, Naturgy clinch deal to reopen Damietta LNG plant

Italy’s Eni and Spain’s Naturgy have reached an agreement with Egypt to resolve a series of disputes over the Damietta gas ...

Zambia: AGR launches new agricultural funding scheme

The African Green Resources (AGR), has launched a USD 81 million financing programme to provide farm supplies and technology to ...

Ethiopia: Japan tech firms secure geothermal project

Japanese technology companies, Toshiba and Toyota have secured a deal for the engineering, procurement and construction of the ...

Malawi: NBM eyes majority stake in Tanzanian bank

In its bid to expand business operations, the National Bank of Malawi (NBM) has reached final stages to acquire a 75 percent ...