GNA – Melcom Group of Companies, the diversified business conglomerate, has announced its entry into the Quick Service Restaurant (QSR) business by acquiring the international franchise rights for Pizza Hut in Ghana. A statement released by the Melcom Group of Companies, copied to the Ghana News Agency, said the franchise would be operated by the […]
Through Victor Jouma | Business Daily Africa Published: 02 September 2021 15:35 KCB Group spent 6.3 billion shillings to acquire Banque Populaire du Rwanda Plc (BPR) from London-listed Atlas Mara Limited and other investors. The country’s second-largest bank by assets completed the deal on August 25, paying Atlas Mara $33 million (3.6 billion shillings) to […]
Fitch Ratings has upgraded Gabon’s Long-Term Foreign Currency (LTFC) Issuer Default Rating (IDR) to “B-” from “CCC”. The outlook is stable. A full list of rating actions is provided below. Main rating factors The upgrade reflects a recent easing of liquidity pressures due to higher oil prices and a new IMF program. It also reflects […]
Ghana-based payments startup Waya is seeing 20% monthly growth in its three existing markets, prompting it to launch expansion activities in three other African countries. Founded in 2018 after co-founder Delali Anku-Adiamah took on the challenge of sending money back to Ghana while traveling to Africa, Waya provides seamless local and international payments and transfers […]
EFG Hermes, an Egyptian financial services company, has doubled its buy rating for CRDB Bank (EHR: CRDB) thanks to the improving macroeconomic history of the country. The company before President Samia Suluhu Hassan came to power said the target purchase price was around 220/- but returned to 453/- a share on improving profitability. The company […]
The state-owned meat processing and marketing entity, the Meat Corporation of Namibia (Meatco), is determined to unlock its potential in African and Middle Eastern markets. These markets are expected to be served by the Group’s operations in the Northern Communal Area (NCA), where strategic interventions are being implemented. “The interventions consist of establishing a beef […]
Ethiopia paved the way for Safaricom (NSE: SCOM) to introduce its popular M-Pesa to the market of 110 million people after deciding to include mobile-based financial services in the telecom operator’s license offered in May. Ethiopian authorities told the Business Daily on Thursday that Safaricom’s license will be upgraded to include mobile financial service when […]
Tunisia’s central bank left its interest rate unchanged and called on politicians and other stakeholders to carry out economic reforms that could help the country overcome its current crises and stressed the need to restore confidence in international institutions. and foreign donors in the country’s economy. The Central Bank of Tunisia (BCT) left its key […]
Rubic will leverage the C1 platform to develop Covid-19 vaccines. Credit: Wilfried Pohnke / Pixabay. Dyadic International has entered into a Covid-19 vaccine technology transfer and licensing agreement with the South African company Rubic Consortium, to discover, develop, analyze and produce cost-effective vaccines intended primarily for African markets. Pursuant to the agreement, Dyadic will license […]
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South African rand coins are seen in this illustration photo taken October 28, 2020. REUTERS/Mike Hutchings/Illustration Join now for FREE unlimited access to Reuters.com Register Rand erases all 2021 gains after heavy fall Closures, vaccination delays weigh on economic recovery South Africa’s unemployment rate is one of the highest in the world Possible Fed cut, […]
After a year in which flights were mostly grounded and travelers stayed home, returning to travel has become one of the most anticipated and uncertain activities of 2021. Mastercard’s Recovery Insights: Ready for Takeoff? is an overview of the main air and ground travel trends around the world. While the global travel recovery remains uneven, […]
On March 4 of this year, Spotify officially launched its planned expansion into 38 African countries. There were exquisite campaign rollouts with artists from across the continent and overwhelming excitement on social media. More importantly, there was the understanding that a new chapter had opened for the African music ecosystem. Before Spotify announced its entry […]
Members of the food gardening project at Dihwayi tsa Phomolong Clinic in Atteridgeville, west of Pretoria, sing as they harvest tomatoes. Photo: Leon Sadiki BUSINESS Agricultural economists and analysts say the new African Continental Free Trade Area (AfCFTA) will provide opportunities for agribusinesses in South Africa to boost cross-border trade, cooperation and investment. Department of […]
Over the past two decades, Chinese companies have come to dominate the telecommunications infrastructure landscape in emerging markets. Around 50% of Africa’s 3G networks and 70% of its 4G networks are built by Huawei. The Clean Network Initiative was the Trump administration’s central policy aimed at curbing the expansion of Chinese tech infrastructure, but only […]
This month, African markets were marked by four East African countries: Rwanda (CSR), Uganda (USE), Tanzania (EHR), and Burundi, which eventually merged their stock markets through a decade-long automation project to attract investment. This is a project that has been in the making since 2011 when the countries of the region embarked on the integration […]
Four East African countries – Rwanda (CSR), Uganda (USE), Tanzania (DSE)and Burundi – finally merged their stock markets through a decade-long automation project to attract investment. The automation means that investors will now be allowed to trade their shares electronically across borders next month, according to Celestin Rwabukumba, managing director of the Rwanda Stock Exchange. […]
NAIROBI (Reuters) – Netflix Inc is streaming more content made in Africa and working with telecom operators to make it easier for potential subscribers to pay, a senior executive told Reuters on Tuesday ahead of its third-quarter results. The online content streaming giant, which has 193 million subscribers globally, is keen to expand in Africa […]
LAGOS (Reuters) – Global ride-sharing company Uber Technologies Inc is in talks with regulators over plans to expand in two West African countries and provide a boat service in the Nigerian megacity of Lagos , a company executive said Thursday. Uber Chief Commercial Officer Brooks Entwistle speaks during an interview with Reuters in Lagos, Nigeria […]
The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. – – – – – EVENTS: *Central Bank Governor holds news conference a day after the bank’s latest lending rate decision GLOBAL MARKETS Asian shares fell on Tuesday after investors took profits in high-flying […]