African markets

Central Bank of Rwanda raises lending rate to control inflation

The National Bank of Rwanda (BNR) has raised the policy rate from 5% to 6% in a bid to stem rising inflationary pressures, while preserving consumers’ purchasing power. The policy repo rate is the fee at which the central bank lends to commercial banks. The higher the rate, the more likely it is to reduce […]

African markets

Only Africa decides its energy future – African Markets

Africa is divided. On the continent there is talk of a clean energy transition, however, former Nigerian President Olusegun Obasanjo has said that African countries cannot be forced to follow the unrealistic ideals of the North, for an economy powered exclusively by renewable energy. Obasanjo Stance In the midst of a global oil and gas […]

African markets

GE Foundation announces $100,000 donation to South Africa – African Markets

The GE Foundation announced the donation of US$100,000 to South Africa to support flood relief efforts and fund FoodForward SA’s efforts to help vulnerable communities. the gift To celebrate Mandela Day and highlight the food security situation, the GE Foundation announced a donation of US$100,000 to support relief efforts in the KwaZulu-Natal region of South […]

African markets

Cape Verde helps Gambia fight malaria – African Markets

The Gambia would like to know Cape Verde’s experience in the elimination of malaria, since it is only in the pre-elimination phase of this disease, which mainly affects African countries. The Gambia visit The Minister of Health, Arlindo do Rosário, received his Gambian counterpart, Ahmadou Lamin Samateh, who is in Cape Verde on an official […]

African markets

Kenya: Listed companies increase dividend to 130 billion shillings

Dividend payout by all Nairobi Stock Exchange (NSE)-listed companies hit a record 130.3 billion shillings in their respective last fiscal years as profits recovered from the impact of the Covid scourge -19. That was a jump of 53.5% from the total payout of 84.9 billion shillings a year earlier, marking a sharp drop that shook […]

African markets

Kenya: KCB targets Equity with the acquisition of a bank of 15 billion shillings in the DRC

KCB Group agreed to acquire a majority stake in a major bank in the Democratic Republic of Congo for an estimated 15 billion shillings, opening a new battlefront with Equity Bank in the vast, mineral-rich Central African country. KCB, which already has operations in Rwanda, Burundi, Tanzania, Uganda and South Sudan, said it had reached […]

African markets

Tonito, author of “Monangambé” has left us – African Markets

Musician and composer Tonito Fortunato died on Monday August 1, 2022 in Lisbon. With his death, Angolan culture is much poorer. He leaves to posterity themes such as “Monangambé”, “Undengue Uami”, “Canto Evocativo”, “Mariquinha” and “Engraxador” which have become classics of Angolan popular music. With more than 40 years devoted to music, he became a […]

African markets

The nominees of the AWIEF – African Markets Awards are already known

The Africa Women Innovation and Entrepreneurship Forum (AWIEF) has announced the finalists for the 2022 awards. The prestigious annual AWIEF Awards recognize, honor and celebrate women entrepreneurs and business leaders in Africa across a range of industry sectors. The price Now in its sixth edition, the prestigious annual AWIEF Awards recognize, honor and celebrate African […]

African markets

African markets show solid growth in real premium income in 2021 – Businessamlive

Insurance and pension affairs 17 hours66 views0 comment BY PHILLIP ISAKPA Data on insurers’ premium income in 2021 compiled by the Swiss Re Institute shows that many African markets saw very comfortable real premium growth last year. For example, five out of nine countries in Africa saw real growth of at least 7% in premium […]

African markets

AEC to generate dialogue at EuraAfrican Forum – African Markets

The African Energy Chamber (AEC) will boost the dialogue on energy transition, climate change and digitalisation, during the EuraAfricain Forum, through its Executive Chairman who will participate in a session on energy transition, climate change and digital transformation in Europe and Africa’s energy scenarios. AEC, is the voice of the African energy sector and its […]

African markets

Increase in Kenya’s share of exports to African markets

Columnists Increase in Kenya’s share of exports to African markets Wednesday, July 13, 2022 An Empire Kenya tea worker packing for auction and export in this photo taken August 5, 2020. PHOTO | LABAN WALLOGA | NMG Kenya is set to outrun the waves of the Covid-19 pandemic in terms of economic recovery, according to […]

African markets

Safaricom launches interest-free loans for the purchase of goods

Safaricom (NSE: SCOM) has unveiled a zero rate credit service that will allow millions of its customers to buy goods for up to 100,000 shillings and pay later, which is expected to disrupt the mobile loan market. Users of the interest-free product known as Faraja will purchase goods and services from 20 shillings up to […]

African markets

How trade and investment are on the rise in Africa

By Michael Gary Published: 05 July 2022 16:26 Investor-led and casual trade has been on the rise for several years across the world, but now it’s really picking up in Africa and its 54 countries. Different types of trade are gaining traction in different ways, and of course there are differences between countries. Here are […]

African markets

Kenya’s economy surpasses pre-pandemic levels in first quarter

Kenya’s economy has rebounded above pre-pandemic levels, with gross domestic product (GDP) growing by 6.8% in the first quarter of this year. Latest data from the Kenya National Bureau of Statistics (KNBS) shows that GDP grew by 2.7% last year and 4.4% in 2020 thanks to the recovery in transport, food and services. The sectors […]

African markets

Diversified retailer CA Sales lists on the Johannesburg Stock Exchange

The JSE, Africa’s largest stock exchange, today listed CA Sales Holdings Limited to its main board, offering South African investors exposure to the fast-moving consumer goods (FMCG) company with a footprint in several southern African countries. CA Sales was first incorporated in South Africa in 2011, later expanding its wings to Botswana, Swaziland, Namibia, Lesotho, […]

African markets

Why Russia and Ukraine Compete for African Markets

Ukraine has pleaded with African countries not to buy grain and fertilizer allegedly stolen by Russia. Ukraine said that without the support of Africa as a market, its economy would suffer irreparable damage. AU leaders reluctantly engaged with Ukrainian President Zelensky. While Africa is heavily dependent on Ukraine and Russia for its food security, both […]

African markets

Honoris United Universities seeks Western level of education in new African markets

The company aims to enter new markets over the next year, Kakon said at the Africa CEO Forum in Abidjan. The aim is to expand access to “a standard western education in Africa”, she says. African universities are looking to embrace online learning after Covid-19 disrupted face-to-face teaching and travel bans curbed student mobility. According […]

African markets

Morocco’s participation in AFRICA’S BIG 7 reflects its commitment to African markets (Ambassador)

MOROCCO, June 20 – Morocco’s participation in the AFRICA’S BIG 7 exhibition, which took place from June 19 to 21 in Johannesburg, testifies to the eminent voluntarism and commitment of national operators to African markets with high growth potential. , said Sunday the ambassador of the Kingdom to South Africa, Youssef Amrani. “These markets are […]

African markets

KCB Group takes 77% stake in merged Rwandan lender

KCB Group took a 77% stake in BPR Rwanda, the subsidiary resulting from the merger of KCB Bank Rwanda and Banque Populaire du Rwanda (BPR). The Nairobi Stock Exchange listed company previously owned 100% of KCB Bank Rwanda. It acquired a 62.06% stake in Banque Populaire du Rwanda (BPR) last year for a total cost […]

African markets

Botswana: Bank profits up in the first quarter

By Msgi online Published: June 13, 2022 5:15 p.m. The country’s commercial banks recorded collective profits after tax of P529.6 million in the first three months of the year, an increase of more than P77 million compared to the corresponding period in 2021. The latest figures from the Bank of Botswana released recently indicate that […]

African markets

Elon Musk’s Starlink rollout poses a familiar paradox in African markets

If all goes as planned, the people of South Africa, Nigeria, and Mozambique, who probably made the $99.00 deposit with great gusto and excitement, would have the full Starlink gear in their possession before the end of the year. Starlink is one of many lunar shots that Elon Musk, today’s richest man and admired serial […]

African markets

FEDCOC launches missions to develop exports to Arab and African markets

The General Federation of Chambers of Commerce (FEDCOC) headed by Eng. Ibrahim El-Araby, President of the General Federation of Chambers of Commerce and President of the Federation of African Chambers of Commerce and Industry, in cooperation with the Federation of African Chambers of Commerce and Industry, will launch a group of trade missions in African […]

African markets

Stanchart leaves five African markets

COMPANY | STANDCHART | MARKET CLOSURE The British banking group Standard Chartered plans to withdraw from five African countries and some countries in the Middle East. According to the statement dated May 6, 2022 issued to certain customers, the bank says the changes are aimed at “focusing and simplifying” their presence in Africa and the […]

African markets

Nigeria’s central bank raises benchmark interest rate to 13%

By Xinhua Published: May 25, 2022 5:15 p.m. (Xinhua) — Nigeria’s apex bank on Tuesday raised its benchmark interest rate to 13 percent, the first hike in more than two years. The Central Bank of Nigeria (CBN) has raised the interest rate by 150 basis points to tackle rising inflation in Africa’s most populous country, […]

African markets

Uber crosses the milestone of one million trips in its African markets

Uber has announced that it has completed 1 billion trips in all its markets in Africa. This feat translates to more than 10 billion kilometers in terms of distance covered. The milestone comes nearly a decade after the mobility technology company set up shop on the continent in Johannesburg, South Africa. It has since established […]

African markets

The case of Ghana Eurobonds

Eurobonds denominated in USD have become the darlings of the African investor. Nigeria and Ghana are among the most requested Eurobonds. Nigeria, with a low debt-to-GDP ratio of 34.98%, offers strong returns with relatively low risk to capital. Ghana offers extremely high yields alongside a scorching debt-to-GDP ratio of 78% (March 2022) from 80.1% in […]

African markets

Arms sales: India attacks African markets

Attempting to tap Africa’s large arms market, a Ministry of Defense delegation comprising representatives of major private manufacturers is visiting Tanzania at the end of this month to explore export opportunities for military products and seek a strategic cooperation. The trip, scheduled for May 30, which will be the third recent visit to Africa after […]

African markets

How African markets are embracing new trends to prepare for the future

Since the onset of Covid-19, financial markets around the world have been plagued by challenges and African markets have not been immune to these headwinds, says Jeff Gable, Head of Macro Research and fixed income securities at Absa Group. We have seen rising interest rates, growth hampered by slow vaccination campaigns and volatile commodity prices. […]

African markets

Flexential® Announces Partnership with Angola Cables to Strengthen Connectivity to African Markets

The extension of the MONET cable to Fort Lauderdale is a significant step forward for international connectivity. Tweet that Upgrades to the MONET cable connecting the UNITED STATES at Latin AmericaSubmarine cables are the key to international connectivity. The old Google Cable only connected São Paulo, Brazil at Boca Ratonbut recent upgrades to MONET Cable […]

African markets

Sanlam and Allianz join forces to create the African insurance giant

sanlam, the largest non-banking financial services company in Africa, and Allianz, one of the world’s leading insurers and asset managers with a century of history in Africa, have agreed to combine their current and future operations across the Africa to create the largest pan-African non-banking financial services entity on the continent. This combination means that […]

African markets

Belgium becomes largest coffee market in Kenya

Belgium overtook America as Kenya’s top export market for coffee for the first time in a decade. The European nation imported Kenyan coffee worth 6.5 billion shillings in the year to June 2021. That was almost double what it bought the previous year, surpassing the United States as the first buyer of the drink. The […]

African markets

USGC: Workshop promotes ethanol blending in African markets

By US Grains Council | May 03, 2022 In cooperation with the African Refiners and Marketers Association, the US Grains Council recently hosted a forum with African industry players and government officials to discuss finished fuel standardization, the path to domestic production and a case study of specific markets […]

African markets

Jamaica Stock Exchange partners with Ghana Stock Exchange

The Jamaica Stock Exchange (JSE) has entered into a partnership with the Ghana Stock Exchange (GSE), which will see the capital markets of Jamaica and Ghana expand their products and services to investors in both countries. This is facilitated by a Mutual Recognition Memorandum of Understanding (MOU), which was signed by representatives of both entities […]

African markets

Digital Assets and African Markets

Financial market volatility Getty Opportunities to invest in Africa have been missed in every cycle as investor fear of the unknown outweighs market fundamentals and clear signs of growth. While there is certainly risk and volatility in African markets, it is often not calculated or approached in the same way as risk and volatility in […]

African markets

Ghana’s economy grew by 5.4% in 2021 – ESG

Ghana’s economy grew by 5.4% in 2021, much more than the 0.4% recorded in 2020, a period during which the COVID-19 pandemic severely affected the global economy. Without oil, the economy recorded a Gross Domestic Product (GDP) growth rate of 6.9% According to a provisional estimate by the Ghana Statistical Service, only 10 countries in […]

African markets

Cooperation with African markets could boost the fashion industry

VIETNAM, April 18 – A production line at Tiên Hưng Garment and Textile JSC in the northern province of Hưng Yên. Trade relations between Việt Nam and Africa had not matched its prospects, especially in the fashion industry. — Photo VNA/VNS Phạm Kiên HÀ NỘI — Although there has been significant growth in recent […]

African markets

Standard Chartered Bank exits major African markets

Standard Chartered Plc announced the start of a strategic move to completely exit certain markets in Africa and the Middle East. The bank in a statement said the markets are Cameroon, Gambia, Angola, Zimbabwe, Sierra Leone and two other markets in the Middle East. The global banking group said the planned exits will allow it […]

African markets

Kenya Airways secures another 36.6 billion shillings government bailout

The Treasury will offer Kenya Airways (ENS: KQ) another bailout of 36.6 billion shillings during the year beginning in July as part of efforts to support the national carrier as it recovers from the Covid-19 travel crisis. The allocation, contained in budget documents tabled in parliament, comes weeks after MPs approved a 20 billion shilling […]

African markets

UK’s Standard Chartered to exit 5 African markets

The UK banking group Standard Chartered is planning to exit Angola, Cameroon, Gambia, Sierra Leone and Zimbabwe. It will also leave its consumer, private and small business banking operations in Tanzania and Côte d’Ivoire, focusing instead on corporate, commercial and institutional clients. Standard Chartered will refocus its Africa and Middle East franchise on what it […]

African markets

Standard Chartered Bank withdraws from 7 African markets

(Agence Ecofin) – For Standard Chartered Bank, the exit will allow the group to focus on the most profitable markets. The release schedule and potential buyers have yet to be revealed. The British banking group Standard Chartered Bank announced on Thursday, April 14, its plan to sell part of its activities. According to the press […]

African markets

Standard Chartered leaves several African markets

Standard charter leaves six African countries and closes its consumer banking operations in two others to focus on more profitable markets. The bank announced that it would close its operations in Angola, Cameroon, Gambia, Jordan, Sierra Leone and Zimbabwe as well as in Lebanon. It will also cease offering retail and corporate banking services in […]

African markets

EFG Hermes Concludes Opinion on DEWA’s $6.1 Billion IPO

By Arab finance Published: April 13, 2022 5:11 p.m. The investment banking division of EFG Hermes Holding (HRHO) has completed its notice of the Dubai Electricity and Water Authority’s (DEWA) $6.1 billion initial public offering (IPO) on the Dubai Financial Market (DFM), according to an emailed press release April 12. The transaction follows EFG Herme’s […]

African markets

African Markets – Factors to Watch April 12

World map with charts and graphs as symbols of global finance NAIROBI, April 12 (Reuters) – The following corporate announcements, forecast economic indicators, debt and currency market movements and political events could affect African markets on Tuesday. EVENTS: Uganda’s central bank is due to publish its benchmark rate for the next two months. The rate […]

African markets

Lemonade Finance expands to seven new African markets

By Kester Kenn Klomegah For the second round this year, the Russian Chamber of Commerce and Industry and the Coordinating Committee for Economic Cooperation with African Countries (AfroCom) brought together business leaders, urging them to look at the African market with great interest and to work more systematically and regularly. The African market is competitive […]

African markets

Lemonade Finance expands to seven African markets

African diaspora-focused fintech startup Lemonade Finance has expanded user transaction options to Senegal, Ivory Coast, Benin, Cameroon, Tanzania, Rwanda and Uganda. Initially, users could only send money to Nigeria, Ghana and Kenya at affordable rates on the Lemonade Finance platform. The new extension provides users with more alternatives to transact across countries. Ridwan Olalere and […]

African markets

Zimbabwe: Dairibord targets the South African market

Dairibord Holdings intends to start exporting to South Africa as it seeks to increase its exports and generate more foreign exchange needed for key imported raw materials and equipment. The group’s chief executive, Antony Mandiwanza, told an analyst briefing on Wednesday that the group aims to drive more products to cash sales as suppliers now […]

African markets

itel Home, a new resolution to dominate African markets, families

In what looks like a positioning effort to domesticate itel brands to further appeal to African markets, itel has announced itel Home, a concept that showcases its new and improved product portfolio of smartphones, TVs, mobile accessories and home appliances. to consumers across the country. The brand continues to prioritize giving its customers control, functionality, […]

African markets

UPS, Jumia partner for deliveries to African markets

[Stay on top of transportation news: Get TTNews in your inbox.] Jumia Technologies AG has jumped the most in about 20 months after a deal that will see UPS Inc. use the pan-African e-commerce company’s distribution network to expand on the continent. Jumia’s U.S. certificates of deposit jumped 30% at 11:07 a.m. EDT on the […]

African markets

Main Takeaways | African Markets and Opportunities for Cross-Border Renewable Energy Investments | McDermott Will & Emery

On March 30, 2022, Carl Fleming and Emeka Chinwuba, partners in McDermott’s Energy and Project Finance Practice Group, hosted Dr. Abdelilah Chami, Head of Sustainability for North and Central Africa at Enel Green Power, and Jay Katatumba, Chief Investment Officer at Africa50 Infrastructure Fund, for a lively discussion on Africa’s renewable energy space and cross-border […]

African markets

Main Takeaways | African markets and opportunities for cross-border renewable energy investments

Click here to watch the video. On March 30, 2022, Carl Fleming and Emeka Chinwuba, partners in McDermott’s Energy and Project Finance Practice Group, hosted Dr. Abdelilah Chami, Head of Sustainability for North and Central Africa at Enel Green Power, and Jay Katatumba, Chief Investment Officer at Africa50 Infrastructure Fund, for a lively discussion on […]

African markets

888 set to launch iGaming in four African markets in 2022

888 is eyeing a huge new market after forming 888AFRICA, a joint venture that is expected to launch iGaming in four African markets in 2022. [Image: Shutterstock.com] Strategic expansion in Africa Global iGaming company 888 Holdings has formed a joint venture to launch its sports betting and iGaming offerings in major African regulated online betting […]

African markets

Petpooja expands its footprint and makes inroads into the UAE and South African markets

Previous story: IIITD partners with AI-based research assistant RAx Petpooja expands its footprint and makes inroads into the UAE and South African markets Posted on March 30, 2022 Realizing the immense potential of the UAE and South African markets, Petpooja has expanded its presence and already has 10% of its customer base in these countries. […]

African markets

Livingston rum distillery will target ‘neglected’ African markets

Livingston-based Matugga Distillery has exceeded its fundraising target of £300,000 with more than two weeks remaining in its crowdfunding campaign. Owned by chief executive Jacine Rutasikwa and her Ugandan-born husband Paul, Matugga has recruited more than 200 new shareholders through its Crowdcube campaign. With only 15 days left to run, the pair hopes to raise […]

African markets

Naijacrypto expands its services to 5 new African markets.

Over the past few months, the African cryptocurrency industry has seen tremendous upside, ranging from substantial funding rounds to growing recognition by government agencies. The industry is ripe for a lot of growth in the coming months. Given these signals, it was no surprise that we learned that “Naijacrypto”, one of the most robust exchanges […]

African markets

[Webinar] African Markets and Cross-Border Renewable Energy Investment Opportunities – March 30, 12:00 – 12:30 p.m. EDT | McDermott Will & Emery

March 30, 2022 12:00 p.m. – 12:30 p.m. EDT The transition to renewable energy in Africa has progressed impressively over the past decade, with many countries striving to increase their renewable energy capacity in recent years. Forecasts by the International Renewable Energy Agency (IRENA) indicate that with the right policies, regulations, governance and access to […]

African markets

The Luxembourg Stock Exchange and the Rwanda Stock Exchange sign a memorandum of understanding

At a special Ring the Bell ceremony held in Luxembourg earlier today, attended by Rwanda’s Ambassador to Belgium and Luxembourg, His Excellency Ambassador Sebashongore, the Luxembourg Stock Exchange (LuxSE) and the Rwanda Stock Exchange (RSE) came together to celebrate the signing of a Memorandum of Understanding (MoU) between the two institutions. The MoU aims to […]

African markets

Equity Group to pay record dividend of 11.3 billion shillings

Equity Group is set to pay shareholders a record dividend of 11.3 billion shillings or 3 shillings per share for the year ending December, when its net profit nearly doubled to 39.1 billion shillings. The lender reinstated the dividend after freezing payouts in 2019 and 2020 to conserve cash following the Covid-19 pandemic. Equity’s last […]

African markets

Lusaka Securities Exchange launches SME portal

The Lusaka Stock Exchange (LuSE) has launched the LuSE Gem Portal, an innovative digital platform primarily aimed at providing small and medium-sized enterprises (SMEs) with access to capital to invest in the growth of their businesses. LuSE Chair Kayula Siame said that the Lusaka Stock Exchange, together with its partners, is pleased to introduce the […]

African markets

African Energy Forum | african markets

The Africa Energy Forum 2022 will be held from June 21 to 24 in Brussels under the theme ‘Africa for Africa: Building the Energy for a Just Transition‘, before starting our journey to Nairobi, Kenya, where we will host our 25th Africa Energy Forum. Once again, we bring together governments, utilities and regulators with development […]

African markets

Investing in African Mining Indaba 2022

Investing in African Mining Indaba (Mining Indaba) is solely dedicated to the successful capitalization and development of mining interests in Africa. Successor for over 27 years, Mining Indaba has a unique and broad perspective of the African mining industry, bringing together visionaries and innovators across the entire value chain. Additionally, Mining Indaba continues to support […]

African markets

UBA partners with Cellulant for payment services in 19 African markets

African world bank, United Bank for Africa (UBA) Plc, and leading pan-African payments company, Cellulant, have announced a partnership that will expand payment services for merchants and consumers in 19 key African countries in which UBA operates, the lender said in a statement last week. According to the statement, the countries include, Nigeria, Ghana, Kenya, […]

African markets

Kenya: Safaricom takes 99.9% of the mobile money market

Safaricom has raised its control of the mobile money market to 99.9% as part of regulators’ efforts to open up its M-Pesa platform to interface with those of rivals Airtel Kenya and Telkom Kenya in a bid to enhance competition in the sector. Data from the Central Bank of Kenya (CBK) shows that M-Pesa has […]

African markets

Fitch confirms Mozambique to the “CCC”

Fitch Ratings confirmed Mozambique’s Long-Term Foreign Currency Issuers (IDR) default rating at ‘CCC’. Fitch generally does not assign Outlook or apply modifiers for sovereigns with a rating of “CCC” or less. A full list of rating actions can be found at the end of this rating action commentary. Main rating factors Substantial credit risk: Mozambique’s […]

African markets

Three new ETFs to list on the Zimbabwe Stock Exchange

The Securities and Exchange Commission of Zimbabwe (SecZim) expects at least three new exchange-traded funds (ETFs) to list on the Zimbabwe Stock Exchange (ZSE) this year as capital markets continue to grow. ETFs are baskets of different types of investments such as stocks, commodities and bonds that are combined into a single entity, which then […]

African markets

Pakistan ready to explore African markets

By Maureen Okon The Pakistani government says the ongoing engineering and healthcare exhibition in Punjab is a platform to connect with African markets and boost the economy. The Governor of Punjab, Mr. Mohammed Sarwar, said this on Friday in Lahore at the inauguration of a three-day Engineering and Health Expo 2022, which will be held […]

African markets

Tanzania, Uganda and South Africa are the main African markets for remittances to Kenya.

However, compared to the same period last year, remittances from the diaspora increased by 21.7%, according to the latest data from the Central Bank of Kenya (CBK). CBK data showed cumulative inflows for the 12 months ending January amounted to $3.778 billion (427 billion shillings) compared to $3.113 billion (351.4 billion shillings) during the same […]

African markets

7 state entities shortlisted to be listed on the Ghana Stock Exchange

By Ghanaian web Published: February 17, 2022 4:05 p.m. The Deputy Managing Director of the Ghana Stock Exchange, Abena Amoah, said about 7 public institutions have been shortlisted for listing on the stock exchange this year. This comes after two committees – steering and technical [committees] – had to review the performance of some thirty […]

African markets

M-Pesa transaction value increases further in Q3

Safaricom (NSE:SCOM) saw further growth in the value of M-Pesa transactions in the quarter ended December, boosting revenue for the telecom operator which now derives the bulk of its sales from the financial service. M-Pesa’s performance during the reporting period was disclosed by Safaricom’s parent company, Vodacom Group. “Our M-Pesa platform, including Safaricom, continues to […]

African markets

BUA Foods Plc steers company away from suspension of sugar sales

BUA Foods Plc issued a disclosure excluding the company from any arrangement to create an artificial shortage of sugar in the country by the decision of two major sugar producers to suspend sales. According to the notice, the company’s disclosure follows a series of calls from customers seeking information about the company’s decision to suspend […]

African markets

Maverick Media Monitoring launches MediaPlus in 16 African markets

Maverick Media Monitoring’s MediaPlus, a real-time media monitoring and SaaS platform, expands its reach of new innovative means of media monitoring to 421 television and radio stations, measuring and analysis of business spending and media advertising earnings in 16 African markets. A statement from the firm listed the countries as Ghana, Ivory Coast, Senegal, Mali, […]

African markets

Maverick launches MediaPlus in 16 African markets

Maverick Media Monitoring’s MediaPlus, a real-time media monitoring and SaaS platform, expands its reach of innovative new ways of media monitoring to 421 TV and radio stations, measuring and analyzing business spend and earnings media ads in 16 African markets. These are Ghana, Côte d’Ivoire, Senegal, Mali, Burkina Faso, Benin, Togo, Guinea Conakry, Congo DRC, […]

African markets

Nigerian Exchange highlights its performance in 2021 and provides outlook for 2022

Nigerian Exchange Limited (NGX or The Exchange) hosted its 2021 Annual Market Recap and 2022 Outlook in conjunction with Renaissance Capital (RenCap) today, 03 February 2022. The virtual event facilitated conversations around The Exchange, Nigeria’s largest capital market and the economy as a whole with presentations from Chief Executive Officer, NGX, Temi Popoola, CFA, and […]

African markets

Fitch confirms that Bank of Africa is “BB”; Stable outlook

Fitch Ratings confirmed Bank of Africa (BVC: BOA) Long-term issuer default ratings in foreign and local currency (IDR) at ‘BB’ with a stable outlook. Fitch also affirmed BOA’s sustainability rating (VR) at “bb-” and the national long-term rating at “AA- (mar)” with a stable outlook. Fitch Ratings has removed BOA’s support rating of ‘3’ and […]

African markets

Zimbabwe Stock Exchange suspends trading in Zeco shares

The Zimbabwe Stock Exchange (ZSE) yesterday suspended trading in Zeco Holdings shares (ZSE: ZECO) citing a violation of its listing requirements after the company entered into a large transaction without the required approvals. Justin Bgoni, ZSE’s chief executive, said the transaction, the effect of which was to change the issuer’s sphere of activity, was done […]

African markets

Moody’s downgrades Ghana to Caa1; stable outlook

Through Moody’s Published: 04 February 2022 20:55 Moody’s Investors Service (“Moody’s”) today downgraded the long-term issuer and senior unsecured debt ratings of the Government of Ghana to Caa1 from B3 and changed the outlook from negative to stable. Moody’s also downgraded the senior unsecured MTN program ratings to (P)Caa1 from (P)B3 and the senior unsecured […]

African markets

Zimbabwe: Tanganda Tea guns for VFEX after ZSE return

TANGANDA Tea Company Limited On Thursday, Managing Director Timothy Fennell outlined his vision for listing on the Victorian Foreign Currency Exchange (VFEX) as a tea producer returned to the Zimbabwe Stock Exchange (ZSE) after a 14-year hiatus. Fennell told NewsDay Business after re-listing that Tanganda’s board opted for ZSE first, while studying liquidity trends on […]

African markets

Nigeria: eNaira records 694,000 downloads, 95 days after launch

Through Jeremiah Ifeanyi | Nairametry Also available: FR Published: January 31, 2022 10:31 am eNaira, the digital currency issued by the Central Bank of Nigeria (CBN), recorded 694,000 downloads in the 95 days since its launch. This was revealed by sources close to the information at the central bank. eNaira, also recorded less than 10% […]

African markets

Volvo to expand in Egypt with fully electric vehicles

Through Arab finance Published: January 30, 2022 2:52 p.m. Ezz Elarab Automotive Group, the sole importer and exclusive distributor of Volvo cars in Egypt, recently announced the launch of the Swedish brand’s latest showroom at One Katameya in eastern Cairo. Gerhard Kreindl, head of retail and business development for Volvo Cars in Europe, Middle East […]

African markets

Airtel Africa joins the FTSE 100 index

Through TZ Daily News Also available: FR Published: January 29, 2022 10:18 am Index manager FTSE Russell has announced that Airtel Africa plc (NGX:AIRTELAFRI, LSEG: AAF) will join the Financial Times Stock Exchange 100 Index (FTSE 100) on Monday, January 31, 2022. Through its mobile telecommunications and mobile money services, Airtel Africa plc is transforming […]

African markets

MSC to acquire Bolloré Africa’s logistics business for $6.4 million

The global shipping company Mediterranean Shipping Company (MSC) is preparing to acquire Bolloré Africa Logistics (BRVM: SDSC) business unit for $6.4 billion. “The Bolloré Group has granted MSC Group exclusivity until March 31, 2022 to allow MSC, after an additional phase of due diligence and contract negotiations, to submit a put option,” said MSC Group, […]

African markets

Fitch upgrades Angola to ‘B-‘; Stable outlook

Fitch Ratings has upgraded Angola’s long-term foreign currency issuer (IDR) default rating to “B-” from “CCC”. The outlook is stable. A full list of rating actions can be found at the end of this rating action commentary. Main rating factors Angola’s IDR upgrade reflects the following key rating factors and their relative weights. High There […]

African markets

Nigerian B2B startup AlphaCX provides customer support solutions for African markets

Customer service remains a huge challenge in Nigeria, with businesses, support agents and customers having a fair share of the problems. Companies buy expensive but complex solutions that are not user-friendly and negatively impact the ability of support teams to quickly log and track customer issues. Failure to satisfy customers ultimately results in loss of […]

African markets

Kenyan BNPL startup Lipa Later targets more African markets after raising $12m – TechCrunch

Lipa Later, a Kenyan tech-led consumer finance platform, plans to expand into new markets in Africa after raising $12m in pre-Series A funding. The equity and debt financing round was led by Cauris Finance, Lateral Frontiers VC (one of Lipa Later’s early investors) and GreenHouse Capital, with participation from SOSV IV LLC, Sayani Investments and […]

African markets

AFSIC – Investing in Africa

AFSIC is considered the largest annual event bringing together African investors and investments taking place outside Africa and has become one of the most important investment channels in Africa. With the support of AFSIC’s sophisticated African Investment Dashboard, AFSIC is fully focused on bringing together African business leaders and Africa’s most important investors and negotiators […]

African markets

Dean Akinjobi at BOSE: Betting Companies Should Look to African Markets to Engage Audiences

Following the revisions of the Gambling Act of 2005, an increase in sponsorship in the digital space is starting to emerge. Speaking to SBC reporter Jessie Sale at Betting on Sports Europe, Dean Akinjobi, CEO of Football media, shared his thoughts that if a sports betting sponsorship ban takes place, these companies will need to […]

African markets

Binance Gets Entry into Gulf and African Markets Via Bahrain

Binance is set to enter the Gulf region following approvals from Bahrain. The main cryptocurrency exchange can now be a legal cryptocurrency service provider in the country after recently received in-principle consent from the Central Bank of Bahrain (CBB). The green light for the world’s first stock exchange also marks a milestone, signaling its first […]

African markets

Kenya: Treasury to issue new Eurobond next week

Kenya plans to launch two new Eurobonds over the next six months to fund the budget and repay part of the first sovereign bond borrowed in 2014. The Treasury told the International Monetary Fund (IMF) that it plans to launch an issue before the end of this month as part of the external component of […]

African markets

Lectera plans to conquer African markets with a rapid education model

Lectera, a leading international education platform, celebrates an anniversary with customer growth and plans to conquer African markets with its model of rapid education and rapid results. Launched in the summer of 2020, Lectera claims 180,000 users in 50 countries. According to CEO Mila Semeshkina, Lectera gained more than 50,000 students one month after its […]

African markets

Pipit Global enters 12 new African markets with Cellulant

Download logo Pipit Global international cash payment platform and pan-African payment company Cellulant (https://Cellulant.io/) extended their partnership agreement to eighteen countries in sub-Saharan Africa. The partnership will see the companies providing B2B and B2C payment services to existing and emerging financial institutions, e-commerce merchants, billers and billing platforms, mobile money providers and e-wallets, providers of […]

African markets

Wolftank operates successfully in African markets thanks to strong partners

Wolftank industrial coatings have been used on the African continent for many years thanks to a strong network of distribution partners. In countries like Morocco, Nigeria, Egypt and many others in the South, Wolftank solutions are often requested by both large energy companies and local retailers. Wolftank, a global partner Wolftank provides its industrial coating […]

African markets

Meikles postpones plans to list on the Tanganda Zimbabwe Stock Exchange

Through The ZW Chronicle Posted: December 13, 2021 4:21 PM DIVERSIFIED Group, Meikles Limited (ZSE: MEIK) said on Friday plans to unbundle and list its subsidiary Tanganda Tea Company on the Zimbabwe Stock Exchange (ZSE) pending an agreement with the Zimbabwe Revenue Authority (Zimra) on the tax on capital gains. Tanganda, the country’s largest tea […]

African markets

Bindura Nickel Corporation exits Zimbabwe Stock Exchange and considers listing on VFEX

ZIMBABWE’s largest nickel mine, Bindura Nickel Corporation (ZSE: CONNECT) the shares will cease trading on the Zimbabwe Stock Exchange (ZSE) today to allow a smooth migration process to the Victoria Falls Stock Exchange (VFEX) denominated in US dollars. BNC is expected to be listed on VFEX on December 19, 2021, subject to shareholder approval at […]

African markets

Kenya: mobile loan rates now under CBK control

The Central Bank of Kenya (CBK) will start controlling interest rates on digital loans under a new law that aims to protect Kenyan borrowers from predatory lending. President Uhuru Kenyatta enacted the Central Bank Law of 2021 on Tuesday afternoon, making legal changes that for the first time put digital lenders under the supervision of […]

African markets

Treat yourself as MTN Uganda goes public

About 21,394 people in Uganda became shareholders of MTN Uganda (USE: MTNU) following the conclusion of the company’s initial public offer (IPO). MTN Uganda was listed on the Uganda Securities Exchange (USE) yesterday after raising Shs 535.9 billion (or $ 151 million) when it went public. This represents 60% of its target amount after the […]

African markets

South African Markets – Factors to Watch for December 7

JOHANNESBURG, Dec. 7 (Reuters) – The following scheduled economic events, stock market and currency movements could affect South African markets on Tuesday. ECONOMIC EVENTS Reserve data Register now for FREE and unlimited access to Reuters.com Register now Government bond auction GDP T3 SOUTH AFRICAN MARKETS The South African Rand on Monday confirmed signs that the […]

African markets

South African Markets – Factors to Watch December 3

The following scheduled economic events, stock market and currency movements could affect South African markets on Friday. COVID-19[female[feminine South Africa’s Department of Health is holding its weekly briefing on COVID-19 infections and vaccine deployment in the country. Register now for FREE and unlimited access to Reuters.com Register ECONOMIC EVENTS – The IHS Markit Purchasing Manager’s […]

African markets

South African Markets – Factors to Watch for November 30

The following scheduled economic events, company announcements, stock market and currency movements could affect South African markets on Tuesday. ECONOMIC EVENTS – South Africa’s central bank will release October money supply data at 0600 GMT. Register now for FREE and unlimited access to Reuters.com Register – Statistics South Africa releases third quarter unemployment figures at […]

African markets

South African markets sink into new variant of COVID-19

A street changer counts the South African Rands in Harare, File. REUTERS / Philimon Bulawayo Register now for FREE and unlimited access to Reuters.com Register The rand falls to its lowest since October 2020 Hotel stocks lead stock fall Ten-year government bond yield exceeds 10% JOHANNESBURG, Nov.26 (Reuters) – The South African rand hit its […]

African markets

South African markets tumble on new variant of COVID-19

Aquote dds actions JOHANNESBURG, November 26 (Reuters) – The South African Rand dipped below 16.00 per dollar for the first time this year Friday because, with investors bewildered by the discovery of a significant variant of the coronavirus in the country, government bonds and stocks also fell. The inventory declines were driven by a sharp […]

African markets

Flour Mills of Nigeria acquires Honeywell Flour Mills

Nigeria flour mills (FMN) and Honeywell Group Limited (HGL) today announced in a press release that they have signed an agreement under which the flour mills will acquire the holding company of the Honeywell group, Honeywell Flour Mills PLC (HFMP). According to the press release, Honeywell Group Limited has agreed to sell a 71.69% stake […]