Safaricom is one of 30 global corporate heavyweights that will work together to free up trillions of dollars of private sector funds for sustainable development, in conjunction with the United Nations. The Kenyan telecoms giant's leader will join the Global Investors for Sustainable Development (GISD) Alliance,...
Kenya’s President Uhuru Kenyatta yesterday opened the second phase of Standard Gauge Railway (SGR) project – Kenya’s largest infrastructure project since independence. The US$1.5 billion railway, funded and built by Chinese companies, comprises a stretch of track running from capital city Nairobi to the Rift Valley...
South Africa’s President Cyril Ramaphosa has revealed that embattled state-run airline South African Airways (SAA) is open to outside investment and in talks with a number of potential private partners. The airline has been heavily saddled with debt for the best part of a decade and...
The African Export-Import Bank (Afreximbank) is considering an initial public offering (IPO) of global depositary receipts on the London Stock Exchange (LSE). The Cairo-headquartered bank said it is considering the London listing to fund its expanding operations and take advantage of growing trade across Africa. Founded by...
Rwanda’s Mara Group has officially opened Africa’s first smartphone manufacturing facility in capital city Kigali and launched two smartphones that have been called the first ‘made in Africa’ models. Located in Kigali’s special economic zone, the factory employees over 200 people to manufacture the pan-African...
Côte d’Ivoire has the highest potential for future trade growth, according to recent research by Standard Chartered which evaluated 66 countries across a wide range of metrics. The West African nation was ranked first in the international bank’s Trade 20 Index ahead of fellow African countries...
Zambia has decided against replacing its value-added tax (VAT) with a non-refundable sales tax, a move that has been regarded as a major concession to mining companies opposing the tax reform. In a budget speech on Friday, Finance Minister Bwalya Ng’andu said: “Government has decided to...
A new report by global consultancy Verisk Maplecroft has found that resource nationalism is set to increase across African mining jurisdictions in the near future. Verisk’s latest Resource Nationalism Index (RNI) had four African states in the top 10 highest risk countries, with Tanzania ranked second, eSwatini (formerly...
Kenya is hoping to agree a fresh trade deal with the United Kingdom by the start of next year in order to continue accessing the UK market after it exits the European Union on October 31st. Kenya’s High Commissioner to the UK Manoah Esipisu said he...
A section of top African CEOs have ranked Kenya as the second leading global business destination for major firms looking for growth prospects this year, according to the findings of a PwC report. The East African nation was cited by 22 of the 171 African CEOs...