Tuesday, May 26, 2020
In a bid to encourage cryptocurrency and blockchain adoption in Egypt, the National Bank of Egypt (NBE) announced that it has joined the R3 Blockchain Consortium on April 22, 2018. R3 is a software enterprise firm that is working closely with...
Rwanda and Tanzania have agreed on joint construction of a Standard Gauge Railway (SGR) from Isaka (northwestern Tanzania) to Kigali, a move which will facilitate movement of goods between the two countries. The agreement was reached following a meeting between...
The Angolan government has raised $3bn in its second Eurobond issue in international markets with demand from 500 investors based in the US, Europe and Asia reaching nearly $9bn. The deal included two parts: $1.75bn of 10-year bonds with a...
Ivory Coast sold 1.7 billion euros ($2.1 billion) of bonds Thursday in the biggest issuance in the common currency from an African government, according to a person familiar with the matter. The West African nation’s amortizing deal was equally split...
South Africa’s plan to rejig 32.4 billion rand ($2.3 billion) of spending to boost economic expansion is unlikely to significantly alter the nation’s growth trajectory, Fitch Ratings Ltd. said. Finance Minister Tito Mboweni announced measures to allocate funds to “faster-spending...
The ministers of trade from the ECOWAS sub-region have moved to strengthen economic integration among member states by urging them to adopt and present a common position based on regional instruments at the African Continental Free Trade Area (AfCFTA)...
Ethiopia’s state-run telecoms monopoly has agreed to allow some local firms to provide internet services through its infrastructure, a move seen as spurring competition and expanding the data market, officials said. Ethio Telecom has more than 16 million subscribers of...
Nigeria will probably maintain its system of multiple exchange rates, which the International Monetary Fund has long-urged it to scrap, until at least early 2020, according to Moody’s Investors Service. Merging the naira’s various rates any sooner might force the government...
As Nigeria celebrates Democracy Day on May 29, the presidency has reeled out what the Muhammadu Buhari administration has achieved in the last three years it has been in power. Mr Buhari was elected into office under the platform of...
South African President Cyril Ramaphosa has proposed setting up a sovereign wealth fund to help boost economic growth, and his ruling African National Congress (ANC) backs the plan, two senior party officials said on Tuesday. Ramaphosa, who replaced scandal-plagued Jacob...
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