With the ongoing digital transformation efforts, Nigeria is trying to wean itself off its oil dependence by capitalizing on the digital sector. With the virtual free zone, the country wants to widen economic opportunities for its population.  Nigeria has initiated discussions with cryptocurrency platform Binance Holdings Ltd to establish a virtual free zone, informs a release published,...

Kenya is trying, for years now, to raise funds for its Big 4 Agenda, which provides for the construction of affordable housing to reduce its housing deficit. To raise the funds, the country is mainly relying on public-private partnerships.  Kenya’s National Housing Corporation (NHC) recently announced, through its CEO  Patrick Bucha (photo), plans to raise additional funding for an...

The investment is made two years after eco.business entered the Kenyan agricultural sector.  Impact investment fund eco.business announced, Wednesday (August 31), a US$15 million loan to Ghanaian bank Fidelity. The fund will be on-lent to actors in the Ghanaian agribusiness value chain, we learn.  “This strong partnership with the eco.business Fund [...] will boost the growth of the...

5G is rising gradually in Africa, amid the accelerated digital transformation. Botswana, Egypt, Gabon, Lesotho, South Africa, Uganda, Zimbabwe, Madagascar, Kenya, and Nigeria have already launched ultra-high-speed broadband. Telecom operator Vodacom Tanzania Plc launched Tanzania's first fifth-generation (5G) mobile network on Thursday, September 1. Among other things, the new technology is...

Over the past twelve months, Africa’s smartphone imports have declined. However, according to U.S.-based IDC, the trend will change by the end of this year.   Africa imported about 18.1 million smartphones in Q2 2022, down by 7.9 percent compared with the 19.7 million smartphones imported the previous quarter. The figure is revealed by  U.S. firm International Data...

Zambia is faced with an economic crisis for years now. The government, which is struggling to pay its debt, is counting on the IMF to stabilize and revive its economy.  The Zambian government and the International Monetary Fund (IMF) will implement a 38-month economic program to strengthen the country's macroeconomic stability. The program was announced in an IMF release dated August...

The transaction is completed three months after the initial agreement. It follows the obtention of regulatory approvals.  Nigerian financial services holding company, Access Holdings Plc, announced, Wednesday, that it has completed the sales of its Access Pension Fund Custodian Limited shares. The transaction, which received all the regulatory approvals, was carried out through Access Bank...

Backbase, the leading global Engagement Banking platform provider and Value Digital Services (VDS), a services company with headquarters in Tunis, that supports its clients in the implementation of their digital and data roadmaps, are pleased to announce they have entered a strategic partnership to strengthen their position in the North-African market. The collaboration further enables Backbase...

The yuan-denominated bond issuance plan is announced after the country postponed a Sukuk issuance and a USD-denominated Eurobond.  Egypt plans to issue US$500 million in Yuan-denominated bonds to diversify its financing sources, Finance Minister Mohamed Maait (photo) announced on Monday, August 29. "The Ministry of Finance has begun talks with Chinese authorities to issue more than US$500...

Zimbabwe’s weak economy affected the telecom market in 2021, BuddeComm informs in its recent annual report. Econet seems to be recovering from the woes.  Telecom operator Econet Wireless Zimbabwe (EWZ) added 1.7 million subscribers to its userbase in 2021, EWZ CEO Douglas Mboweni indicated while presenting the operator’s 2022 integrated annual report last week.  According to the...