The Communications Authority of Kenya (CA) will invest KSh1.57 billion (US$14.4 million) to expand access to telecom services in 101 new localities in 17 marginalized counties. As part of the strategy included in Phase 2 of the Universal Service Fund (USF), contracts have been awarded to Safaricom PLC, Airtel Networks Kenya Ltd, American Towers Company (ATC), Seal Towers Limited and Alan Dick &...

For Rwandan president Paul Kagame, the UN, the USA, and other African countries are not sufficiently engaged in finding a solution to the Tigray conflict. This negligence could worsen the crisis in the coming years, he believes. On February 3rd, during the chat show Battlegrounds (a periodic chat organized and hosted by the Hoover Institution for "international perspectives on crucial...

Bolloré Transport & Logistics has been recertified as a Regional Authorized Economic Operator (AEO) in East Africa. The certification, which covers Kenya, Uganda, Rwanda, Burundi and Tanzania, recognizes Bolloré Transport & Logistics as a secure and reliable trade partner and offers the benefit of expedited clearance procedures through pre-arrival clearance, reduced physical inspection and...

Kenya has reached a staff-level agreement with the International Monetary Fund (IMF) for a new reform program with a financial package. In a statement published yesterday, the institution said the program is set to last three years and Kenya will receive financial support of $ 2.4 billion as part of the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF) agreements. “I am...

Share acquisitions by executives and managers of United Bank for Africa (UBA) provided a good signal for the Lagos-based pan-African banking group. In early 2021, Ayoku Liadi, the group's deputy chief executive officer, acquired 3.3 million shares at 8.5 naira per share. This followed an acquisition of 4.8 million shares by Tony Elumelu, president of UBA, and Isaac Olukayodi Fasola, one of the...

The African Development Bank Group, on 16 February 2021, announces the 36-month debarment of Global Interjapan (Kenya) Limited with effect from 24 August 2020. Global Interjapan (Kenya) Limited is a civil engineering company registered in Kenya.   An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Global Interjapan (Kenya) Limited engaged in...

Financial group, Standard Bank which owns 51% of the capital of its Angolan subsidiary, plans to increase its share in the company. The South African group wants to acquire the share of Angolan businessman, Carlos São Vicente who has been deprived of its assets (49% interest in Standard Bank Angola) in a fraud affair. “Over the last two years, we have increased our stake in our subsidiaries...

Financial group, Standard Bank which owns 51% of the capital of its Angolan subsidiary, plans to increase its share in the company. The South African group wants to acquire the share of Angolan businessman, Carlos São Vicente who has been deprived of its assets (49% interest in Standard Bank Angola) in a fraud affair. “Over the last two years, we have increased our stake in our subsidiaries...

The Co-operative Bank of Kenya (Co-op Bank), which is the fourth-largest bank in the country by assets, will benefit from a long-term syndicated loan of $15 million from the Swedish development bank -Swedfund. The Kenyan bank will use the resources to increase its support to SMEs and finance green projects. “We have an important role in supporting strong and healthy financial institutions...

Nigeria’s ex-finance minister Dr. Ngozi Okonjo-Iweala became the new Director-General of the World Trade Organization (WTO). The lady becomes the first woman and the first African to hold this position. She received support from David Walker, the WTO Board Chairman, who reassured of the intention of all WTO members to help her accomplish her mission. “We look forward to collaborating closely...