Ethiopia: Hurdle cleared for M-Pesa inclusion in telco licence

Ethiopia has cleared the way for Safaricom to introduce M-Pesa in the market of 110 million people after deciding to include the mobile phone-based financial services in the telco’s licence.

East Africa: Egyptian lender CIB reaches for a bigger piece of region’s banking sector

Egyptian largest private sector bank by assets Commercial International Bank (CIB) is seeking to acquire more banks to strengthen its presence in the East African region.

Africa: Off-grid solar access solutions for continent identified

The European Investment Bank and International Solar Alliance have published a study outlining access solutions to overcome key affordability and investment challenges holding back off-grid solar investment across Africa.

Kenya | country tops world in growth in new electricity connections

Kenya has been ranked the top country in the world in reducing population with no access to electricity, pointing to the impact of the State’s focus on rural areas for nearly a decade.

Africa: Huawei Pens Deal with African Telecommunications Union

The African Telecommunications Union has recently signed a Memorandum of Understanding with tech giant Huawei that will see African countries and organisations build capacity for ICT transformation.

East Africa: Inside Region’s Post-Covid 2021/22 Recovery Budgets

East Africa’s Finance ministers have presented their spending plans for the 2021/2022 fiscal year with a key focus on rebuilding economies ravaged by the COVID-19 pandemic, protecting local industries, keeping jobs and up-scaling investment in infrastructure projects critical to the faltering intra-regional trade.

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.