AFRICA

FOLLOW US:

Standard Chartered bank loans Zambia $134 million

The Zambian government is set to get a sum of US$134 million from Standard Chartered bank to fund road developments. The loan is the second the bank has arranged for the government since a $450...

KPMG’s South Africa bosses purged over Gupta scandal

Global auditor KPMG cleared out its South African leadership on Friday after damning findings from an internal investigation into work done for businessmen friends of President Jacob Zuma. KPMG’s investigation into its work for the...

Commercial banks in Uganda reducing physical presence across the country

Commercial banks operating in Uganda are reducing their physical presence across the country. Many are issuing notices telling the public about the closure or merger of some outlets, as well as relocation of some customer...

Nigerian government approves plans to concession two airports

Nigeria's federal executive council has approved plans to concession two of the country's vital airports. Vice president Yemi Osinbajo says plans for divesting Abuja international airport and Lagos international airports have been approved and...

Uganda signs oil exploration deal with Australia’s Armour Energy

Uganda signed an oil exploration deal with Australia’s Armour Energy Limited (AJQ.AX) on Thursday, the first under a protracted competitive licensing round launched in 2015. The production-sharing agreement covers Kanywataba block, a 344-square-kilometre area in...

Powering Zimbabwe: $500 million upgrade to increase energy generation

Zimbabwe will take a huge step towards resolving its long running energy deficit this year after the completion of expansion of the Kariba South Hydro power station. The $533 million upgrade of Kariba power plant...

South Sudanese government urges Trump to reverse decision

South Sudan's government is urging the United States to reverse sanctions it imposed on some of its officials. Authorities there say the sanctions could be retrogressive. Barely 48 hours ago, the Trump administration imposed sanctions...

Africa’s biggest economies Nigeria, South Africa say are out of recession

Africa’s leading economies Nigeria and South Africa say they have emerged from recession. The two countries on Tuesday released figures showing economic growth in the second quarter of the year. South African authorities on Tuesday announced...

Cement companies in Uganda investing in new plants to meet rising demand

Cement companies in Uganda are investing in new plants to increase their production capacity. The new units are expected to meet the projected rise in the demand for cement for local infrastructure projects and regional...

Ugandan female street traders benefit from free business skills

Dozens of street vendors are getting free training to upgrade their businesses from hawking. The training supported by the government and a local non-governmental organisation, Girls Forum International, has attracted over 250 female street vendors,...