After years of hesitating, Tanzania finally joins the East African Community’s One Network Area (ONA) for lower cross-border call tariffs. The network allows citizens of East African Community member states - Kenya, Rwanda, South Sudan, Uganda, and Tanzania - to be able to communicate more at a cheaper cost. The network was launched in October 2014 by Kenya and Rwanda while Uganda joined in...

The Egyptian government has further slashed the compensation claimed from the container carrier Ever Given after the March 2021 incident. Osama Rabie, Head of the Suez Canal Authority (SCA), says in a May 25 statement that the ship’s owners will now have to pay $550 million in compensation instead of $916 million initially; that is a reduction of 40%. The new estimate was made after...

Following the new coup that led to the arrest of President Bah N'Daw and transitional Prime Minister Moctar Ouane, the military junta addressed the population. In a television statement, Colonel Assimi Goïta (pictured), vice president of the Transitional Council and head of the Malian junta, said he was "obliged to act to preserve the charter of the Transition.” The military leader says this...

On June 4, 2021, the very first Mauritian nanosatellite named MIR-SAT1 will be sent into space. The equipment has already been sent to the United States; to the Kennedy Space Center in Cape Canaveral, Florida. It is the fruit of a collaboration between three groups. The first is a team of experts from the Mauritius Research and Innovation Council (MRIC), under the auspices of the Ministry of...

Sucrivoire, a subsidiary of agribusiness group Sifca, has made a positive start on the Abidjan regional stock exchange (BRVM) this year. As of 21 May, its share price was up 37%. If this trend continues, 2021 will be the best stock market year for the Côte d'Ivoire-based company, which has only been making losses since its IPO in 2017. The second quarter of 2021 is particularly marked by...

Sudan will benefit from $2 billion in funding from the World Bank. The announcement was made yesterday May 24 by Hafez Ghanem, World Bank vice president for Eastern and Southern Africa, during a visit to the East African country. According to the official, the funds will be disbursed over 12 months to enable the interim government in place to address the economic challenges it has faced...

Gambian government kicked off last April its Operation Zero Crime to handle the rising criminality in the country. The strategy has helped arrest many suspects but more effort is needed. During a Tv address yesterday May 24, President Adama Barrow (pictured) announced he has put the national army on alert to assist the police in dealing with the growing crime problem in the country. He says he...

Mobile operator MTN South Africa announced on May 19 it has reached a $2 billion deal with the International Finance Corporation (IFC) to develop its mobile money business. Through this partnership, MTN South Africa plans to recruit 10,000 additional agents this year, and a business development team that will be trained to manage the agent portfolio, and ensure compliance with regulations,...

The Central bank of Kenya (CBK) has announced the acquisition of Uwezo Microfinance Bank Limited by Salaam African Bank (SAB). The acquisition earned the Djibouti-based bank a 100% stake for undisclosed cash consideration. “CBK welcomes this transaction which will strengthen the business model of Uwezo MFB and enhance the resilience of Kenya’s microfinance banking sector,” stated in the...

The end of the two Congo Wars has seen an emergence of armed groups in the eastern part of the country, creating a climate of insecurity that hampers development in the region. Faced with growing violence, DR Congo entered negotiation with allies, including Uganda. Uganda intends to deploy troops to help restore peace in the eastern part of DR Congo. David Muhoozi, Chief of Ugandan Defense...