AFRICA

FOLLOW US:

Kenya launches locally developed virtual currency, Nurucoin

A new locally developed digital currency has hit Kenyan market targeting investors who participate in e-commerce. The new cryptocurrency, dubbed Nurucoin, was developed by the owners of e-commerce platform BlazeBay. The coin is set to sell...

South African rand’s rise fueled by ‘Ramaphosa rally’

  South Africa’s rand extended recent gains early on Friday, a day after Cyril Ramaphosa was sworn in as the country’s president. Many financial analysts hope Ramaphosa's rise to the presidency helps bring an end...

Tunisia’s central bank head resigns amid pressure

The governor of Tunisia’s central bank has resigned after Prime Minister Youssef Chahed set in motion a process to remove him from his post. Chedli Ayari tendered his resignation Wednesday night, a week after the...

RwandAir to start flights to Abuja, Cape Town

Rwanda’s national carrier, RwandAir is set to expand its wings to Abuja in Nigeria and Cape Town in South Africa, local online newspaper, the New Times said. The airline officials said that the airline will...

Uganda to host world customs conference in March

Approximately 800 World Customs Organization (WCO) delegates are expected to take part in the fourth Authorized Economic Operators (AEO) conference next month in Uganda to discuss mutual recognition of AEOs and secure global trade. The...

Angola’s central bank: Only commercial banks allowed to sell forex to public

Angola’s central bank on Monday said only commercial banks will be allowed to sell foreign currency to the public, and that it would only sell forex to to large importers of essential goods. The oil-rich...

Britain adds Nigeria’s naira to list of accepted trade currencies

Britain's export finance agency is set to add Nigeria's naira to its list of pre-approved currencies. The move will allow the agency to finance transactions with Nigerian businesses in the local currency. The naira will become...

Citigroup targets rapid Africa, Middle East growth in 2018

Citigroup expects 2018 to be its best year for investment banking in the Africa and the Middle East in at least a decade, a senior executive at the U.S. bank said. Nigeria and Egypt will...

Sudan devalues pound to 30 against US dollar

Sudan's central bank on Sunday announced it will devalue the local currency to 30 Sudanese pounds against the US dollar, the second such move in weeks amid soaring inflation. The new official exchange rate will...

Tunisia plastic ban leads to manufacturers’ outcry

Tunisia is taking stock of the outcome of a ban on the use of plastic bags imposed in March last year and while authorities and environmentalists are celebrating the resultant lower pollution levels, manufacturers...