Untapped Business Opportunities in Africa’s Rising Green Energy Sector
With an abundance of sunlight and a growing need for sustainable energy solutions, Africa is witnessing a significant surge in solar energy adoption to address energy deficits, promote economic development,…
SEC to ease crowdfunding rules for small firms
The Security and Exchange Commission (SEC) has announced plans to ease crowdfunding rules for small firms in Nigeria. The director of SEC, Dr Emomotimi Agama made the announcement in an…
Djibouti to build major solar plant with Egyptian deal
Egypt and Djibouti have formalized an agreement to construct a 276.5-kilowatt solar power plant in Djibouti, a project aimed at enhancing Djibouti's energy infrastructure and further solidifying both nations' commitment…
Online retailer Jumia to exit South Africa and Tunisia
Africa-based online retailer Jumia Technologies will close South African online fashion retailer Zando and its operations in Tunisia by the end of the year.The decision to close operations was announced…
Kenyan small businesses threatened by costs and over-regulation
Kenyan business owners are facing a big challenge of operational costs and over-regulation.Kenya Bankers Association president John Gachora said businesses that currently account for a third of Kenya’s GDP are…
Naira among Africa’s Worst-Performing Currencies in 2024 – World Bank
According to the World Bank's Africa Pulse report, the Nigerian naira has emerged as one of the worst-performing currencies in sub-Saharan Africa.By August 2024, the naira had depreciated by 43%,…
Namibia Central Bank cuts interest rate to boost growth
The Central Bank of Namibia has cut the country's lending rate by 25 basis point to 7.25%. The Monetary Policy Committee of the bank announced the cut at the end…
Uganda signs $3 billion contract to build new rail network
Uganda has signed a $3 billion (about Sh10.8 trillion) contract with Turkish construction company Yapı Merkezi to build a 272-kilometre railway to boost regional trade and business integration.The agreement, which…
Ethiopia implements new rules on foreign exchange and transaction fees
The National Bank of Ethiopia (NBE) has ordered the country’s financial institutions to include foreign exchange transactions in daily reports for transparency purposes.Foreign exchange is the difference between the bank’s…
99% of rich Nigerians evade taxes – Oxfam report
A recent report by Oxfam International in Nigeria has revealed that 99% of Nigeria’s wealthiest citizens evade paying their taxes, significantly contributing to the country’s wealth gap. The report, titled…
