News

[Egypt] Housing and Development Bank extends branch portfolio to 70

01-09-2017 | 11:10:25
The Housing and Development Bank (HDB) increased the number of its branches to 70 by the end of 2016, after the inauguration of the latest branch in Port Said as the bank seeks to grow its foothold in the region and continent.


Tanzania earns $11 million from the ballooning gaming industry

01-09-2017 | 11:07:07
Tanzania continues to enjoy the robust growth of the gaming industry in the recent past with the government having now pocketed $11 million in the 2015/2016 fiscal year compared to $7 billion the previous year.


[Zimbabwe] CBZ Holdings suspend use of visa cards for local transactions on cash crunch

01-09-2017 | 11:04:59
Zimbabwe’s largest bank CBZ Holdings has suspended the use of Visa cards for local transactions informed by the country’s crisis in handling cash shortage.


AFRIKA KOMMT! 2016-2018 Fellowship Program is open for applications

01-09-2017 | 09:45:00
AFRIKA KOMMT! is an initiative of leading German enterprises for future leaders from Sub-Saharan Africa. The fellowship program aims at highly qualified young professionals and junior executives from countries in Sub-Saharan Africa.


Global aviation safety rating: Nigeria steps up another notch

01-09-2017 | 09:45:00
The Nigerian Civil Aviation Authority (NCAA) has stated that Nigeria has attained another high level safety rating which placed it among the world leaders in aviation safety.


SEFA grants USD1m to prepare community-owned hydropower project in Kenya

01-09-2017 | 09:30:00
The African Development Bank (AfDB)-managed Sustainable Energy Fund for Africa (SEFA) approved a US $992,000-grant to support the preparation of 7.8-MW hydropower project (HPP) in Kenya.


[Nigeria] SEC, Central Bank issue guidelines for securities settlement

01-09-2017 | 08:46:00
The Securities and Exchange Commission (SEC), in collaboration with the Central Bank of Nigeria (CBN), has issued guidelines for the settlement of all types of securities in Nigeria.


[South Africa] Fastjet cedes 28 per cent stake to Solenta

01-06-2017 | 16:10:00
Budget airline Fastjet has decided to sell 28 percent stake to South African carrier Solenta. The low cost carrier would also raise at least $28.8 million through a share placement.


[Cameroon] Entry of ACAM Vie insurance shakes up and redefines industry

01-06-2017 | 16:05:00
The entry of insurance company Assurance du Cameroun Vie, in short ACAM Vie has shaken the industry while promising better days for individuals and companies.


Postal and Telecommunications Regulatory Authority of Zimbabwe sets minimum charges for voice and data

01-06-2017 | 16:00:00
Telecommunication regulator Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has set floor prices for voice and data for bundled services including promotional packages.


Egypt introduces first bankruptcy law with eye on increased investment

01-06-2017 | 13:25:07
Egypt has introduced the country’s first bankruptcy law which among others seek to minimize the need for individuals or companies to resort to courts while abolishing imprisonment in bankruptcy related cases.


Nigerian National Petroleum Corporation releases list of official oil suppliers for the year 2017/2018

01-06-2017 | 13:20:34
The Nigerian National Petroleum Corporation (NNPC), has released the names of 39 bidders for the sale and purchase of Nigerian crude for 2017/2018.


[Angola] The Savings and Credit Bank cements national foothold with two new branches in capital

01-06-2017 | 13:10:14
The Savings and Credit Bank (BPC) has opened two new branches in Angola’s capital Luanda bringing its total to 444 branches spread across the country.


Kenya Airways in codeshare agreement with Hong Kong Airlines for daily flights

01-06-2017 | 10:16:22
Kenya’s national carrier Kenya Airways has inked a codeshare agreement with Hong Kong Airlines to help improve connectivity and access in Asia.


Algeria looks to cement self-sufficiency with new production plant

01-06-2017 | 10:12:55
With a growing construction industry and government’s increased investment in capital projects, Algeria is looking to increase cement production to meet this growing demand. It is against this backdrop that a second production unit of cement plant


[South Africa] Bauba reopens chrome mine on improved prices

01-06-2017 | 10:07:56
South Africa mining company Bauba says it has re-opened its wholly-owned chrome mine Moeijelijk after placing it under care and maintenance.


[Rwanda] Central Bank steps in to tame rising bad loans

01-05-2017 | 14:18:59
A rising number of non-performing loans has seen the Central Bank of Rwanda announce new measures that will see it work closely with financial institutions as it seeks to strengthen its monitoring and supervisory roles.


Sierra Leone invests $11 million in upgrading electricity network

01-05-2017 | 14:13:15
Sierra Leone is on course for an upgraded electricity network thanks to an $11 million project which concentrated on transmission, distribution and generation.


[Zimbabwe] Local tyre manufacturers decry foreign currency shortage, warn of ripple effects

01-05-2017 | 14:08:00
Local tyre manufacturers are decrying shortage of foreign currency warning that the deficit has limited local manufacturers from benefiting from import restrictions placed on some products which could further fuel shortages, they warned


Egypt’s construction sector is the most promising in the Middle East and Northern African regions, study

01-05-2017 | 14:01:04
The Middle East North Africa construction sector is surprisingly diverse in terms of exposure, profitability, and metrics, making it difficult to draw broad conclusions, yet currently Egypt is the most prosperous construction market in the Middle East and North Africa (MENA) region despite the effect of the currency’s devaluation and the high inflation rate, according to a recently released HSBC’s “MENA construction” report.