Revenue collection has increased by 48% in the last five years
The report states that revenue collection has increased from shs13.4 trillion in 2016/2017 to shs21.1 trillion in the 2020/2021 financial…
Category: Africa
Treasury Targets Sh50 Billion From March Bond Sale
The National Treasury is seeking to raise Sh50 billion from three bond sales in March, comprising reopening of securities that…
NSE Sheds Sh92Bn In A Day As Russia Invades Ukraine
The market capitalisation closed at Sh2.453 trillion compared to Sh2.546 trillion on Wednesday, with Safaricom, East Africa Breweries Limited (EABL)…
Kenya Set Date To Unveil Flying Taxis
Kenya Airways will pilot electric vehicles that take off and land vertically to beat traffic from 2025 as part of…
URA Ramps Up Crackdown On Tax Defaulters
The Uganda Revenue Authority (URA) has reiterated its call to taxpayers in Kampala Metro Region to clear any outstanding taxes…
Blackout Fears As Kenya Power Staff Plan Strike
Kenya Power’s KPLC workers have threatened to go on strike in a dispute over the firm’s plans to lay off…
CBK Seeks Digital And Mobile Payment Platforms Fees Cut
The Central Bank of Kenya (CBK) has asked digital payment service providers including mobile money firms to cut their prices,…
T-Bills Interest Rates Jump To Two-Year High
Interest rates on Treasury bills have climbed to a two-year high on the back of a higher bid acceptance rate…
African fintech, The Green Exchange targets $5 billion green bond issuance in Nigeria, others
African fintech, The Green Exchange is targeting $5 billion in green bond sales within five years to fund green bonds…
Cardano To Launch P2P Lending Network In Africa
Charles Hoskinson, the co-founder of Cardano, has disclosed that the Cardano blockchain plans to launch a peer-to-peer (P2P) lending in…
Stakeholders to brainstorm on Africa’s competitive advantage
Regional Scrum Gathering Nigeria has said stakeholders in the financial sector will brainstorm on how to boost competitive advantage for…
African Union to receive $11.48 million grant from the African Development Fund
The African Union Commission set to receive a grant to the tune of $11.48 million from the African Development Fund.…
DFI Signs Off On Investment In Knife Capital’s Latest Fund
Knife Capital, a South African venture capital firm, is raising a $50 million fund for startups looking to raise Series…
Novastar Ventures Leads Seed Round For Kenya-Based BasiGo
Kenyan-based electric vehicle technology and financing startup BasiGo has closed a $4.3 million seed funding round. The funding was led…
General Atlantic Makes First African Technology Investment
The pandemic has accelerated the use of telemedicine, virtual care and drug delivery, thus fuelling investor interest in the sector.…
Uganda To Pay $325 Million As Reparations To Congo
The International Court of Justice has ordered Uganda to pay $325 million in compensation to the Democratic Republic of Congo…
Maxam Ghana Agrees To Pay $1Million Fine Imposed On The Company
Maxam Ghana Limited has agreed to pay the US$1 million fine imposed on the company, as well as comply with…
Kenya Treasury Drops Plan To Inject Sh1 Billion Into Smes
The Treasury has dropped plans to inject Sh1 billion into President Uhuru Kenyatta’s plan to derisk access to credit for…
WFP: 13 million face severe hunger amid worst drought in Ethiopia, Kenya
The United Nations World Food Programme says an estimated 13 million people in Kenya, Somalia, and Ethiopia face severe hunger…
Big Banks Seen Swallowing Smaller Loss-Making Rivals
Ratings agency Moody’s says small Kenyan banks suffering losses or facing insolvency are likely to become targets of acquisitions by…
World Bank, Kenya in talks for another $200 million loan
The World Bank will give Kenya $200 million to support various development projects to improve food security in the country.…
Everstrong Capital acquires majority stake in Kenyan tower company
American private equity fund Everstrong Capital has bought a majority stake in SealTowers Limited. SealTowers Limited is a Kenya-based independent…
NBK Capital chooses Moove for fund manager’s first Africa investment
African mobility fintech and Uber’s vehicle supply partner, Moove has secured a $10 million financing facility with Uber’s exclusive vehicle…
New Fintech Fund for Africa announced by KIFC
The Kigali International Financial Centre has launched a $50 million first and only Fintech-focused Africa Fund. Backed by MyGrowthFund Venture…
Ethiopia Shields M-Pesa From Licence Freeze
The suspension of bidding for a second telecoms operator permit in Ethiopia will not derail the introduction M-Pesa licence in…
Affirma And StonePine Back Egypt’s Nerhadou International
Affirma Capital and StonePine ACE Partners Limited have entered an agreement to jointly invest $20 million for a significant minority…
Brimore’s Series A Backed By New And Returning Investors
The Egyptian social e-commerce market will be worth over $14.8 billion by 2024. The opportunity in the market can be…
Ezdehar’s Second Fund Blasts Past Goals For First Close
TLcom Capital, the Africa-focused venture capital firm known to have made bets on Andela and Twiga, is raising $150 million…
Money Manager Takes Control Of Impact Investor ResponsAbility
M&G is acquiring a majority stake in impact investing firm responsAbility Investments, M&G said Thursday in a news release. Zurich-based…
Metier And Catalyst Combine To Boost Pan-African Reach
South Africa’s Metier Private Equity plans to merge with Catalyst Principal Partners, a Kenya-based manager. Both firms said on Wednesday,…