Central Bank of Egypt indicates that it will not share its clients' bank information with the tax administration. Tarek Amer (photo), the governor, explains that his institution intends to keep those clients’ confidentiality. This decision follows the head of Egypt tax administration’s suggestion. Indeed, in a bid to intensify the fight against tax evasion and fraud, he expressed his wish to...

The Namibian government announced, via its president Hage Geingob (photo), its plan to organize a conference to discuss the white farmers’ land expropriation reform actually being reviewed in the country. According to the president’s statements reported by Reuters, this conference planned for October would be an opportunity to discuss many points of the land reform dividing the country’s...

Last weekend, Tanzania and Uganda agreed to build a gas pipeline which will start from the Tanzanian oil production fields to some high gas consumption areas in Uganda. This will be the first transborder pipeline to be built since natural gas extraction started in 2004 on the Songo Songo Island in South Tanzania. According to The East African which reported the information, the agreement...

Finserve, a subsidiary of the Kenyan banking firm Equity Group specialized in technology solutions, will launch a new payment platform for companies in the e-commerce and money transfer sectors in East and Central Africa mainly. Jack Ngare (photo), Finserve’s managing director indicated that the Kenyan Fintech is planning to discuss with financial services providers and existing payment...

The construction of Xai-Xai airport in Mozambique should start in October, O País indicated this week. According to information reported by the Mozambican media, the airport located 200 kilometers from the capital city should benefit from more funding than planned initially. Indeed, the Chinese government which is the main investor has provided $60 million, an amount much higher than...

Nigerian commercial banks seem to provide a rather poor support to the government’s ambition to strengthen the country’s economic diversification and reduce dependence on imported products and to oil exports. Indeed, in the twelve months ending June 30, 2018, the volume of credits granted by these financial institutions to the industrial sector was NGN2,000 billion ($5.52 billion). Though...

Co-operative Bank, listed on Nairobi Securities Exchange, has launched new financial products aimed at Kenyan Micro, Small & Medium-sized Enterprises (MSMEs). Thanks to these products, small businesses can borrow up to Ksh2 million ($20,000) via their cell phones, take unsecured commercial loans and services such as import finance. The banking institution has also elaborated non-financial...

The venture capital Microtraction has realized its fifth investment since launching in 2017. This investment was addressed to the Nigerian Start-up Thank U Cash. Indeed, the online purchase solution which rewards its users obtained a funding whose value has not been disclosed. Microtraction’s management justifies this investment with the start-up’s growth potential.  "In the future we...

The conciliation held on July 28-29, 2018 in Paris between Gabon and the French giant Veolia has not resulted in an amicable arrangement as the parties would have liked, La Lettre du Continent reveals in its present edition. The failure of this conciliations, in the framework of the second arbitration request Veolia sent to Cirdi in February 2018 opens the way to the litigation phase...

YouTube wishes to buy original African content. Indeed, the subsidiary of Alphabet group wishes to buy original contents from every part of the world to boost subscription to its premium services. In Africa, this need is increasingly pressing due to an increase in Netflix subscriptions in the continent. Luke Hyams, head of originals for the EMEA region, explained that the company wishes to...