Africa

The African Development Bank Group (AfDB) on Wednesday approved a $100 million to Rwanda to support the implementation of the Kigali Urban Transport Improvement Project. The critical project is aimed...

In a significant development, the African Development Bank (AfDB) has approved a $170 million loan to support the design and construction of Egypt’s wind energy project, the GW Suez Wind...

Kenya Electricity Generating Company (KenGen) PLC has secured a Kshs. 250 million geothermal development deal with Eswatini Electricity Company. Under the contract, KenGen will conduct comprehensive geoscientific studies in three...

Tanzania has reaffirmed its commitment to honor its agreements with the Adani Group despite the U.S. bribery indictment of Indian Billionaire Gautam Adani. In May 2024, Tanzania and Adani ports...

Australia’s Resolute Mining has agreed to pay Mali's government $160 million to resolve a tax dispute. The development comes after the West African country detained the company’s CEO, Terence Holohan,...

AMSONS Group, the Tanzanian conglomerate, has been granted regulatory approval from the COMESA competition Commission to acquire Bamburi Cement Plc. Kenya’s largest cement company. The transaction will see AMSONS buy...

Moody’s, one of the leading global rating agencies, on Friday, upgraded the Government of Ghana’s long-term local and foreign currency issuer ratings to Caa2 from Caa3 and Ca, respectively. In...

Kenya is on the verge of unlocking a substantial loan from the International Monetary Fund (IMF) by the end of this year, according to a statement by Kamau Thugge, the...

The Kenyan government has asked the International Monetary Fund (IMF) to perform an official review of corruption and governance issues, according to an article by Reuters. The move comes after...

Kenya’s economy grew by 4.6% year-on-year in the second quarter of 2024 compared to 5.6% in the corresponding quarter of 2023, according to national statistics released on Wednesday. The Kenya...

African Development Bank (AfDB) has made a US$10 million strategic equity investment in Dhamana Guarantee Company, a Kenyan-based firm that offers guarantees to support sustainable growth enterprises. In a statement...

Ethiopia and the International Monetary Fund have reached a staff-level agreement, which would unlock a US$ 3.4 billion extended credit facility if approved. IMF said Ethiopia will have access to...

The African Development Bank, through its concessional finacing African Development Fund, on Thursday announced that it approved $134.71 million for water projects and infrastructure development on the border of the...

Nigeria’s central bank hiked its benchmark lending rate to 27.25% from 26.75% on Tuesday, representing a 50 basis points (bps) rise. Olayemi Cardoso, the Central Bank of Nigeria's governor, disclosed...

The African Development Bank Group (AfDB) has approved a loan facility of $67.3 million to help Madagascar revive its economy. AfDB’s decision to approve the loan facility will give the...

The Djibouti Regional Economic corridor has received a major boost after the World Bank approved US$90 million in additional financing. The new funding will expand the scope of the corridor...

Uganda has received $600 million from the World Bank and French Development Agency (AFD) according to Reuters. According to a statement by the World Bank and the government, the resources...

China will increase support for Africa with nearly $51 billion in financing for infrastructure initiatives in the continent, according to a President Xi Jinping. He also committed to creating at...

Green Climate Fund, the world’s largest climate fund, has approved a landmark $151 million in financing for a climate change initiative by the African Development Bank (AfDB) to combat climate...

US-based multinational biopharmaceutical company Emergent BioSolutions announced on Monday that it would donate 50,000 doses of its small vaccine ACAM2000 to African countries impacted by the Mpox outbreak. Emergent said...

Ethiopia has reached a multibillion-dollar agreement with a Dubai-based engineering company for the design of a new mega airport that will revolutionize the continent’s aviation sector.   The new airport...

The African Development Bank Group (AfDB) on the 8th of August approved a transaction guarantee facility of $40 million to Dashen Bank, one of the biggest private financial institutions in...

Avocado farming has taken Kenya by storm in the past few years. The latest data indicates that Kenya's avocado production has been increasing significantly over the past decade. In 2018,...

The new Zimbabwe’s gold-backed currency started trading on the country’s stock exchange on Monday. This comes a few days after the launch of a new currency, the Zimbabwe Gold (ZiG),...

Africa is an extremely diverse continent composed of low-income, middle-income, and high-income countries. The continent is estimated to have a total Gross Domestic Product (GDP) of US$3.1 trillion, which accounts...

If you’re looking for a side hustle to boost your income, this article is meant for you. A side hustle refers to a business or job performed alongside the primary...