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Africa
Ghana Faces Rising Interest Rates on Government Securities Amid Debt Restructuring…
Ghana has experienced a rise in interest rates on government securities, with the interest on the 91-day treasury…
Kenya Reports Slowest Growth in VAT Collections in 10 Years
Kenya has experienced the slowest growth in collections from value-added tax (VAT) in a decade, attributed to…
Kenya Commercial Banks Raise Base Lending Rates for Seventh Consecutive Month
Kenyan commercial banks have increased their base lending rates for the seventh consecutive month, reaching 13.31…
Kenya: High Court Suspends Exclusive Macadamia Nut Export Rights Pending Case…
The High Court has issued a suspension on the Kenyan government's decision to grant exclusive export rights for…
BOST Records Profits for Second Consecutive Year, Marks Turnaround
The Bulk Oil Storage and Transportation Limited Company (BOST) has reported a profit after tax of GH¢342 million…
Auditor-General Raises Concerns Over Non-Performing Investments in NSSF
The Auditor-General has flagged non-performing investments totaling Sh630.3 million in the National Social…
Africa’s Marine and Coastal Tourism Sector Poised for $100 Billion…
Africa holds a significant economic opportunity within its grasp, owning approximately one-third of the world's…
Bank Consolidation Gathers Pace in Tanzania, 15 Banks Vanish in 5 Years
The banking landscape in Tanzania has witnessed significant consolidation over the past five years, resulting in…
Resilient Trade Relations Between Ghana and the USA Reach All-Time High
Trade relations between Ghana and the United States of America (USA) have demonstrated remarkable resilience, with…
Government Reinstates Fuel Subsidies to Stabilize Pump Prices Amidst Oil Market…
In an unexpected policy reversal, the government of Kenya has reintroduced fuel subsidies in response to surging…
Safaricom Boosts M-Pesa Daily Transaction Limits in Bid to Compete with Banks
Safaricom, a prominent telecommunications company in Kenya, has gained the Central Bank of Kenya's (CBK)…
Oil Marketers Seek Deal to Pass Foreign Exchange Losses to Customers, Fueling…
Oil marketers in Kenya are engaged in discussions with the government to shield themselves from foreign exchange…
Central Bank of Kenya Sets New Interest Rate Corridor to Guide Interbank Lending
The Central Bank of Kenya (CBK) has introduced a new interest rate corridor to guide interbank lending and control…
Kenya Finalizing Selection of Lead Arrangers for New Eurobond
The Kenyan Treasury is in the final stages of selecting lead arrangers for the country's upcoming Eurobond…
Ghana’s Inflation Reaches Four-Month High Amid Rising Food Costs
Ghana's inflation rate surged to 43.1% in July, marking the highest level in four months. The increase was…
Triodos Funds Support Bridge Taxi Finance to Empower South African Entrepreneurs
Triodos Microfinance Fund and Triodos Fair Share Fund have extended a USD 10 million loan to Bridge Taxi Finance…
Commercial Cold Holdings Expands with Acquisition of Sequence Logistics
Commercial Cold Holdings (CCH), a prominent cold chain logistics platform under the control of African…
Sanlam Private Equity Acquires Majority Stake in Danny’s Auto Body Parts
Sanlam Private Equity (SPE), the private equity branch of Sanlam Investments, has successfully acquired a majority…
Fuel Prices in Tanzania Surge by 17% Amidst Dollar Shortage
Motorists in Tanzania will face a significant increase in fuel prices as the existing shortage of the United…
Dollar Deposits in Kenyan Banks Reach New All-Time High as Shilling Depreciates
The value of dollar deposits in Kenyan commercial banks has reached a record high of Sh1.185 trillion by the end…
Ghana $13 billion Eurobond Restructuring to be Concluded by Year End –…
Ghana's government aims to reach an agreement with its commercial creditors to restructure Eurobonds totaling $13…
Infra Impact’s Mid-Market Infrastructure Fund Exceeds Fundraising Target in…
Infra Impact Investment Managers Successfully Closes Mid-Market Infrastructure Fund Infra Impact's Mid-Market…
British International Investment Joins SDG Outcomes Fund with $10 Million…
British International Investment (BII), the UK's development finance institution and impact investor, has pledged…
Norfund Invests in Plastic Recycling Initiatives in Nigeria and Ghana
Norfund, a Norwegian investment fund, is making its first direct investments in plastic recycling in Africa by…
African Development Bank Approves US$20 Million Investment in Pembani Remgro…
The African Development Bank's Board of Directors has sanctioned a US$20 million investment in the Pembani Remgro…
Globeleq Expands Renewable Portfolio in Africa with Acquisition of Mocuba Solar…
Globeleq, the leading independent power company in Africa, has reached an agreement to acquire Scatec A.S.A.'s…
Kenya’s Foreign Exchange Reserves Expected to Remain Under Pressure, Says…
The International Monetary Fund (IMF) predicts that Kenya's official foreign exchange reserves will continue to…
IMF Approves Nearly $1 Billion in Funding for Kenya to Bolster Economic Reforms
Paraphrased Paragraphs: The International Monetary Fund's executive board has granted Kenya nearly $1 billion in…
AFIG Funds and Norfund Successfully Complete Acquisition of Ivorian Packaging…
A consortium of investors led by AFIG Funds and Norfund has successfully completed the acquisition of Nouvelle…
Endeavour Mining Divests 90% Stake in Burkina Faso Mines to Lilium Mining for $300…
In a strategic move, UK-based Endeavour Mining has sold 90% stakes in its Boungou and Wahgnion mines in Burkina…