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Ruto says peace key to regional growth
Deputy President William Ruto has reached out to African countries asking them to spearhead efforts to stabilise and instil peace in the Democratic Republic of Congo (DRC), the Central African Republic, Somalia, Sudan and South Sudan.Ruto, who was spRead More...
Equity Bank's half-year net profit increases to Sh6bn
Equity Bank Group’s net profit for the six months to June rose by 16 per cent despite a slowdown in the performance of its regional subsidiaries.The bank reported a profit of Sh6.3 billion for the half-year period, up from the Sh5.4 billion reaRead More...
Alexander Forbes to spread wings in Africa
ALEXANDER Forbes is exploring opportunities in Ghana and Tanzania and looking to strengthen its existing Africa operations in Namibia, Botswana, Kenya, Nigeria and Uganda, CE Edward Kieswetter said in the company’s latest annual report.In this Read More...
Massmart opens second Builders Warehouse in Botswana
WALMART-owned Massmart opened its second Builders Warehouse store in Botswana, in line with its African expansion strategy, the company said on Monday.The International Monetary Fund (IMF) forecasts that the economy of sub-Saharan Africa will expand Read More...
Kenya plans to privatise rail services
The Government plans to privatise rail services to repay funds borrowed for the construction of the proposed Kenya, Uganda and Rwanda railway network.  The projected is expected to be completed by 2018.The railway network will cost Sh1.16 trilliRead More...
Kenyan Manufacturers On the Prowl for African Markets
As a high level delegation of industry captains leaves for Ethiopia under the auspices of the Kenya Association of Manufacturers (KAM) and headed by the Cabinet Secretary for East African Community Affairs, Commerce and Tourism, Mrs Phyllis Kandie, iRead More...
Barclays dominate African banking sector after merger
Barclays will create Africa’s largest retail bank in terms of branch networks and customers in a tie-up deal.The Absa banking group, of which Barclays plc. own a 55.5 percent controlling stake, has been given regulatory approval to acquire the Read More...
Africa holds key to growth ambitions
A NUMBER of global trends are having a profound effect on the appetite for mergers and acquisitions, according to Nick Matthews, head of mergers and acquisitions at KPMG South Africa.Like the rest of the world, Africa is not immune from the latest moRead More...
Moguldom Media Group launches AFK Insider, an African Business News site
Moguldom Media Group, a leading digital media company that develops online publishing brands serving multicultural audiences such as Madam Noire and HipHop Wired, announced the launch of AFK Insider, a website for consumers and business professionalsRead More...
Making a name for itself as one of Africa's top business destinations
The MasterCard African Cities Growth Index, for example, identified Accra as having the highest economic growth potential on the continent between 2012 and 2017. The index, released at the beginning of this year, was produced by Professor George AngeRead More...
AfDB Approves US $45 Million Grant for Creation of Pan African University for Science, Technology and Innovation
TUNIS, Tunisia, July 26, 2013/African Press Organization (APO)/ -- The African Development Bank's (AfDB) (http://www.afdb.org) Board of Executive Directors approved on Wednesday, July 24 an African Development Fund (ADF) grant of US $ 45 million to Read More...
Foreign Minister Westerwelle on Egypt: an inclusive process under civilian leadership is the right way forward, not street clashes
BERLIN, Germany, July 26, 2013/African Press Organization (APO)/ -- Foreign Minister Guido Westerwelle issued the following statement today (25 July) on the situation in Egypt: We are very concerned about the tense situation in Egypt. With regard toRead More...
Kenya gets Sh2.3bn credit from World Bank
The World Bank’s Board of Executive Directors on Wednesday approved a zero-interest credit of Sh2.3 billion to help Kenya fight extreme poverty by setting up a National Social Safety Net Program for Results.The safety net will knit together sevRead More...
China is 3rd biggest M&A player in Africa
Nigeria, South Africa and Uganda are proving particularly attractive to Chinese investorsChina has become the world's third-largest country doing mergers and acquisitions in Africa, favoring the oil and gas sector, says a report by international law Read More...
West African banks to service East Africa oil finds
West Africa’s insurance companies and commercial banks are setting up subsidiaries in East Africa to take advantage of the oil and gas financing skills gap following recent discoveries in the region.Kenya and Uganda are estimated to have recoveRead More...
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