The social bond investment promotes inclusive economic development, particularly for SMMEs with a turnover below R300 million and loan sizes under R40 million The African Development Bank Group and Standard Bank Group (SBG) on Monday signed a landmark financial agreement…
The upcoming launch of the South African National Petroleum Company reflects a broader trend across Africa, where nations are restructuring their state-owned energy enterprises to attract investment, improve efficiency and enhance energy security The upcoming launch of the South African…
Uganda has retained its position as one of Africa’s top financial markets, securing fourth place in the 2024 Absa Africa Financial Markets Index. The report, released in Kampala on January 28th, highlights the country’s strong macroeconomic stability and improvements in…
The International Finance Corporation (IFC) has projected that Africa will need to double its annual expenditure to $6 billion in order to expand its digital infrastructure and bridge the connectivity gap between people and businesses on the continent. This projected…
Telecom firm MTN Uganda plans to sell shares left over from its deeply undersubscribed 2021 Initial Public Offering to local investors to expand local ownership and comply with regulatory requirements, it said on Saturday. The Uganda unit of South Africa’s…
Highlights: Johannesburg, South Africa – May 24, 2024 – Despite 64% of Africans expressing confidence in the continent, they remain loyal to non-African brands, which have retained their lowly 14% of the most admired brands in Africa, Brand Africa revealed…
Coca-Cola Co. is advancing plans for a significant initial public offering of its African bottling arm as soon as 2025, with a valuation that could exceed US$8 billion. This major financial move is set to end a period of sluggish…
South African fintech startup Moya Money, established in 2021, has undergone a rebranding and will now be known as Bloo Money, effective May 2024. In a recent statement, the company explained that the decision to rebrand reflects its ongoing evolution…
LR: The Speaker of the Parliament, Anita Annet Among, Mary Goretti Kitutu, the Minister for Karamoja Affairs between 2021 and 2024, Agnes Nandutu, the State Minister for Karamoja Affairs between 2021 and 2024. The UK has imposed sanctions…
Mastercard has partnered with Johannesburg-based fintech company SAVA to bolster financial inclusion for small and medium-sized businesses (SMMEs) in Africa. This collaboration aims to equip SMMEs in South Africa, Nigeria, Kenya, and Egypt with innovative financial tools to streamline their…
FSDAi Nyala Facility BV, a facility set up by FSD Africa Investments to invest in emerging local capital providers, is injecting US$1 million into Linea Capital, a South Africa-based financier. Linea Capital specializes in revenue-based finance (RBF), an innovative model…
Yusuf Omari, Chief Finance Officer, Absa Bank Kenya Absa Bank Kenya Plc has announced a 12% increase in net profit to KSh 16.4 billion for the financial year ended 31st December 2023. These financial results come at a time when the…
Stanbic and dfcu banks are the only Ugandan banks that have appeared in the East African Top 20 banks despite banks recovering from the impact of the coronavirus pandemic. The latest annual survey by South Africa’s African Business Magazine ranks…
Dorothy Kabagambe Ssemanda has been promoted to CEO for ATC Uganda, effective July 1, 2022, replacing Michael Magambo. She has been the Chief Finance Officer, the first Ugandan to hold the position. ATC Uganda is a subsidiary of American Tower…