Kenya emerges top destination for startup funding in 2024
Kenya solidified its position as Africa’s top destination for startup funding in 2024, attracting $638 million, according to Africa: The Big Deal’s annual report. This marked the second consecutive year…
Dangote retains 13% of crude export in Nigeria
In 2024, the Dangote Petroleum Refinery retained 13% of Nigeria’s crude oil exports for domestic use, a significant jump from just 2% in 2023. This development increased domestic supply but…
Ghana considers more IMF funding to tackle economic crisis
Ghana's newly sworn in government says it may be seeking more funding from the International Monetary Fund, IMF, to cushion the economy and address the fiscal challenges. The incoming Finance…
Rwanda to phase out non-electric motorcycles in new E-mobility plan
Rwanda has announced plans to phase out electric motorcycles in the capital, Kigali, as part of efforts to promote environmental sustainability and achieve its E-mobility plan.Rwanda’s Minister of Infrastructure Jimmy…
Uganda to investigate audit report on Central Bank theft
The Ugandan Parliament has forwarded the Auditor-General’s report on the UShs 60bn (US $ 16.23mn) Bank of Uganda heist to the Directorate of Criminal Investigations “for further investigations.”News reports emerged…
Ethiopia to reopen its Stock Exchange after a 50 year hiatus
Ethiopia plans to reopen its stock exchange after a 50-year hiatus, hoping to draw in both foreign and domestic investors.The Ethiopian Securities Exchange (ESX), set to launch this Friday, will…
China and Nigeria to strengthen bilateral ties
China and Nigeria are poised to strengthen their bilateral relationship as Chinese Foreign Minister Wang Yi visited Nigeria as part of his tour of four African nations. Arriving in Abuja…
Egyptian Cabinet approves agreement with Oman to boost transport sector
The Egyptian Cabinet has approved the draft presidential decree on cooperation between the government of the Arab Republic of Egypt and the government of the Sultanate of Oman in the…
Zambia’s Kwacha hits record low against dollar
Zambia’s currency, the kwacha, continues to struggle, reaching a record low of 28.13 per dollar at the close of Wednesday’s trading, according to LSEG. This marks an 11-day losing streak…
Kenya’s exports to EU fall in Q3 2024 as trade deficit widens
According to new data from the Kenya National Bureau of Statistics, between July and September last year, Kenya exported goods worth 37.96 billion Kenyan Shillings to the EU, compared to…