• CBK licenses 27 more digital lenders, total now 153• Sector disbursed $594M in loans by June 2025• New draft rules propose tiered licensing, higher compliance fees The Central Bank of Kenya (CBK) announced on Friday that it has granted 27 new licenses to digital credit providers (DCPs), bringing the total number of approved operators in the country to 153. The announcement comes...

UBA extends rights issue to September 19, seeks NGN157 billion Offer includes 3.16B shares at NGN50 each, 1-for-13 ratio Move supports recapitalization; profits up over 30% in Q1 2025 United Bank for Africa (UBA) announced on Sunday that it is extending its rights issue, which was initially set to close on Friday. In a statement to the Nigerian Exchange (NGX) signed by Group...

Blencowe hires WaterBorne to fund $62M Uganda graphite project Orom-Cross aims for 2026 start, 50,000 tonnes/year in Phase 2 AFC, DFC, and others show interest in project financing In a note released on Thursday, Blencowe Resources announced it had hired South African advisory firm WaterBorne Capital to help finance its Orom-Cross graphite project in Uganda. The firm will be...

Nigeria targets ICT sector to reach 21% of GDP by 2027 Government launches fiber, skills, and regulatory initiatives to boost ICT Startups raised over $5 billion since 2019, data shows Nigeria expects its information and communications technology (ICT) sector will account for 21% of its gross domestic product (GDP) by 2027, according to Communications, Innovation and Digital...

Nigeria’s fintech landscape has undergone a seismic shift in recent years, driven largely by persistent technological failures in the traditional banking sector. Outdated banking IT infrastructure – often based on legacy systems – has led to frequent outages, slow processing, and inadequate scalability during peak demand or crises. These shortcomings eroded user trust, creating a fertile...

Ten new technical and vocational schools launched across Côte d’Ivoire. Government targets millions of young people out of school and unemployed. Training programs aim for 70% job placement with private sector support. Côte d’Ivoire has announced the opening of ten new technical and vocational schools for the 2025–2026 academic year. The move, unveiled on September 3 in...

Nigeria introduces 5% levy on gasoline and diesel sales for road upkeep. Government needs 880 bln nairas yearly but budget covers only 20% of needs. New tax expected to raise freight, food and industrial costs, fueling inflation. The Nigerian government has introduced a 5% surcharge on gasoline and diesel sales to finance road maintenance, according to local media reports. The...

Government tasks KPMG with 60-day review of AT Ghana and Telecel stake. AT Ghana burdened with $289 mln debt, market share down to under 8%. Goal is to create a strong second operator to rival MTN’s 74% dominance. The Ghanaian government has appointed consulting firm KPMG to assess the future of AT Ghana (formerly AirtelTigo) and its stake in Telecel Ghana, as part of...

Emaar Misr, Saudi and Emirati investors to build $18.6 bln Red Sea complex. Marassi Red Sea to cover 10.2 km² with hotels, marinas, malls and schools. Project to create up to 170,000 jobs during construction and 25,000 permanent positions. Egyptian developer Emaar Misr for Development has signed a landmark deal with Saudi and Emirati investors to build a big tourism project...

Six agreements signed during Mozambican president’s visit to Algiers. Deals cover education, communication, culture, and public security. Cooperation aims to build on historic ties and boost economic links. Algeria and Mozambique have signed six agreements and memorandums of understanding to expand cooperation across key sectors including trade, education, and security. The deals...