As part of its strategy to boost e-payment in the country, the Central Bank of Uganda has capped check payments at USh10 million ($2,750). The previous limit was USh20 million. With this measure, which came into effect last January 15, Ugandans can no longer make payments of more than USh10 million or the equivalent in foreign currency by check. However, the cap does not apply to checks at the...

A consortium of Burkinabe investors made an offer last June to buy Tunisia’s Carthage Cement. They wanted to acquire 58.2% of the company. However, according to information reported by Ilboursa, Tunisian authorities have rejected the offer, which they considered "insufficient". No official source has yet confirmed this announcement. As a reminder, media sources first reported that the offer of...

Ghanaian digital cash management and lending fintech Float has raised $17 million to support its business; $10 million is a debt raised from Cauris and $7 million is provided as equity in a deal led by Tiger Global and Jam Fund. “With this new funding, we will continue to refine both our credit and software products to deliver the best experiences for our fast-growing customer...

The Sustainable Development Goals Fund (SDG Fund) has approved a $45 million vehicle to help Zimbabwe implement renewable energy projects. The SDG Fund will provide $10 million and the remaining amount will come from the Infrastructure Development Bank of Zimbabwe (IDBZ) and local partners. “The 4-year program, which is expected to kick-off in April 2022, was jointly developed by...

Ugandan Fintech Asaak announced it has raised $30 million from a group of investors to support its business. The company provides credit to motorcycle cab (boda boda) drivers based on their personal and financial data. “Bodaboda riders are the lifeblood of Africa, moving people and cargo from home to school to work. They just need access to motorcycles which leads them to better income...

The Nigerian government plans to implement new reforms this year to broaden its tax base and lower the budget gap. Under this strategy, the 2022 Finance Act provides that schools and education centers should now pay a corporate tax. Until now, they were exempt from this tax. To maintain the same levels of margin in absolute terms, these educational centers could raise tuitions to compensate for...

Tanzania and Burundi are stepping up initiatives to strengthen their relations. Yesterday, the Tanzanian finance minister announced the two countries have reached an agreement to construct a railway between Uvinza, in Tanzania, and Gitega, in Burundi. The line will cover 282 km (156km in Tanzania, 126km in Burundi). Minister Mwigulu Nchemba said the project requires $900 million, without...

The situation in Mali is beginning to worry its military partners. The presence of Russian soldiers in the country makes Europeans uncomfortable, as they consider them to be mercenaries, even though Malian authorities say otherwise. Sweden will withdraw from Task Force Takuba. The announcement was made today by Ann Linde (pictured), Swedish Foreign Minister. "We have already decided that we...

Elections in some African countries are known to be somewhat tumultuous. Between political unrest, political meddling, or intra-party clashes, many events can shake a nation. Examples are what happened in Chad with Idriss Déby Itno's death, the pre-election violence in Benin, or Edgar Lungu's defeat in Zambia. The year 2021 came with a series of events that further changed the political...

Satellite connectivity provides some of the best reach and coverage available. However, historically it has often been out of reach for organisations and private users due to the cost involved. This is soon changing with the satellite-as-a-service model. This blog post will explain what satellite-as-a-service is, what benefits it offers, and how it can future-proof the connectivity industry for...