In Q2 2022, Ghana’s Economy Expanded By 4.8%.
The second quarter of 2022 saw an uptick in Ghana’s economic growth to 4.8% from the first quarter’s 3.4%. The…
Category: Africa
Kenya Court Rejects Petition Regarding VAT on Fuel products.
Sen. Okiya Omtatah of Busia filed a case 2018 opposing the introduction of a tax on petroleum products; but the…
Northeastern Angola Finds 131-Carat Diamond.
Another gem, a 131 carat white Type IIa diamond, has been recovered, according to Lucapa Diamond and Sociedade. This is…
Kenya Will Stop Using Diesel and Gasoline Trucks and Adopt Green Transportation.
Kenya Power plans to buy additional electric vehicles, including two-wheelers and three-wheelers; in the near future in an effort to…
In Terms of African Pension Asset Growth, Nigeria Came In Fifth.
According to a recent report by the Organization for Economic Co-operation and Development, Nigeria has the fifth greatest pension asset…
Tanzania intends to purchase a freight plane.
With intentions to use Kilimanjaro International Airport (KIA) as a key airport for cargo landing; the Tanzanian government is about…
Uganda’s Exports Primarily Go To Kenya and South Sudan.
Data from the Ministry of Finance show that Uganda exported more commodities to Kenya and South Sudan in August than…
Ghana Saved $300million On Energy Programme.
In 2021, the government avoided giving utilities in the energy industry $300 million in credit. The credit arose from agreements…
According To AfDB, Nigeria Needs Assistance To Reduce Its Debt Burden.
Economic and financial experts have expressed grave concerns about Nigeria’s soaring debt load; which has posed a severe threat to…
Ghanaian Cedi Declines By 64% This Year.
The Ghanaian cedi has fallen by a staggering 64.45% against the US dollar. The USD/GHS exchange rate was 9.9495. Despite…
In 2022, Kenya Pension Bill Was Reduced By Sh18billion.
In the first two months of the current fiscal year, Kenya’s pension bill decreased by Sh17. 94 billion compared to…
Ghana’s Inflation Reached A 21-year High Of 33.9% In August.
In order to help the country get through the harsh economic situation it is currently experiencing as a result of…
Kenyas President Is In Favor of Raising NHIF Contributions From The Wealthy.
Shortly after a comparable plan was rejected by Parliament, President William Ruto has supported the appeal for the wealthy to…
Returns For Kenyan Insurers Are Impacted By The Stock Market Fall.
Due to decreased share prices on the Kenyan stock market, insurance companies saw a decline in investment revenue in the…
NCBA Finances Its Tanzanian Affiliate With Sh2billion.
In order to better serve large enterprises, NCBA Bank Tanzania is closing extra branches in certain areas. The recent announcement…
China Renounces Interest-Free Loans To Africa Worth 1% Or Less Of Its Credit To The Continent.
In August, the Chinese foreign ministry announced that it had canceled 23 loans to 17 African nations that were due…
Angola Becomes Africa’s Biggest Crude Producer.
Nigeria’s productivity has been progressively declining since 2020, and this year it struck multi-decade lows. Nigeria loses roughly 400,000 barrels…
KCB’s Congo Buyout Target Heavy On Commission.
KCB Group’s Democratic Republic of Congo acquisition target Trust Merchant Bank made twice as much in fees and commissions compared…
According To The NNPC Chief, Churches And Mosques Are Housing Stolen Nigerian Petrol.
Every section of Nigerian society is complicit in the theft of millions of barrels, the head of state oil company…
South Africa’s Inflation Rate Hits 7.8%, Highest In 13 Years .
South Africa’s annual consumer inflation reached its highest level in 13 years, increasing to 7.8% in July from 7.4% in…
Shanta Eyes Sh60 Million West Kenya Gold Licences.
London-listed exploration firm Shanta Gold is eyeing three additional prospecting licences from Canadian miner Barrick Gold in the West Kenya…
South African Rand Weakens Against Strong Dollar.
South Africa’s rand was weaker in early trade on Monday, as the dollar hit a new five-week high after more…
Uganda To Refund Kenya 60mw Of Electricity Supplied.
Uganda will pay back Kenya in kind the electricity that Kenya Power supplied; following power disruption in one of their…
BoG Rolls Out Urgent Measures To Fight Inflation, Cedi Depreciation.
The Bank of Ghana (BOG) has raised the policy rate by 300 basis points (bp) to 22% in a historic…
Ghana’s Central Bank Hikes Interest Rate To 22% To Combat Inflation, Forex Crisis.
Ghana’s central bank has raised its interest rate by 300 basis points to 22% to tame inflation and stabilize the…
Kenyan Shilling Plunges Against Dollar Since William Ruto’s Victory.
Kenya’s currency, the shilling weakened against the dollar as the country’s election commission; announced Deputy President, William Ruto winner of…
South Africa Network Provider Rain To Submit Merger Proposal To Telkom In Due Course.
South Africa’s data-only network provider rain intends to submit a formal non-binding proposal to bigger rival Telkom (TKGJ. J) in due course,…
Ghana’s Inflation Rate Rises To 31.7% In July 2022.
Ghana’s inflation rate rose further in the month of July 2022 after the headline rate surged to 31.7%; from 29.8%…
Students Cheer As Online Translation Tools Add More African languages.
Ugandan IT student Andrew Njuki spent years hunched over English-language textbooks; often grappling with material that would have been easier…
Nigeria, Other African Countries Need 20,000 Pilots –Report.
Aircraft giant, Boeing has raised concern over the dearth of pilots, technicians, and cabin brew as the plane maker; In…