Africa News Today
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Focuses on regional Stock Exchanges, trends in local & international markets affecting East Africa and provides analysis on investment and the capital markets in the region. The Exchange analysis on mining, oil and gas, financial services, banking, capital markets, and the region's stock markets.
Africa News Today
6h ago
Kenya-Ethiopia trade relations have been on the rise in the past 27 years, with Kenya having the upper hand.
Ethiopia, on the other hand, recorded an increase at an annualised rate of 23.7 per cent.
During the Meeting Kenyan investors also undertook exhibitions showcasing some of their products.
Kenya and Ethiopia have renewed the push to streamline the bottlenecks that are hampering trade growth between the two states. A delegation of the National Assembly to the Kenya-Ethiopia Trade and Investment Mission held in Addis Ababa, Ethiopia, has rooted for the speedy removal of bottlenecks ..read more
Africa News Today
6h ago
There is a debt crisis in Africa as countries struggle to repay international loans.
According to the World Bank, nine African countries entered 2024 in debt distress, with another 15 at high risk of distress and 14 more categorised as moderate risk.
According to the United Nations, Africa’s public debt will stay above pre-pandemic levels in 2024 and 2025.
At 4 per cent, Africa is projected to be the second fastest-growing economic region in the world in 2024, according to a report by the International Monetary Fund (IMF). However, behind the headline figure is a less optimistic ..read more
Africa News Today
1d ago
Over 300 startups are converging in Abu Dhabi between May 7th and 9th for three days of innovation, collaboration, and transformative dialogue.
Key topics on the agenda include the rise of startups in biotechnology, the integration of technology into enterprises for financial resilience, and customer acquisition and retention.
Seven high-level roundtable meetings are slated to help startup entrepreneurs learn from experts about the latest global investment issues.
AIM Congress, now on its 13th edition, is gearing up to host over 300 startups from diverse fields of innovation and industries ..read more
Africa News Today
1d ago
TLcom Capital has raised $154 million in its second Fund, TIDE Africa II
With this second fund, TLcom Capital maintains its early-stage, multi-sector focus and expands its mandate beyond Sub-Saharan Africa to Egypt.
TLcom Capital currently has over $300 million under management.
TLcom Capital, the Africa-focused venture capital firm, announced the final close of TIDE Africa Fund II, its second fund for technology in Africa, at $154 million. Confirming TLcom Capital’s status as Africa’s largest Seed and Series A investor, the new fund accelerates the firm’s mission to partner with ..read more
Africa News Today
1d ago
AfDB asks policymakers to put in place an orderly and predictable way of dealing with Africa’s $824Bn debt pile.
According to AfDB, Africa’s ballooning external debt reached $824 billion in 2021.
AfDB president says there is urgent need for increased concessional financing, particularly for low-income countries.
Africa’s immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries’ future growth, African Development Bank (AfDB) President Dr Akinwumi Adesina has said.
Adesina at the Semafor Africa Summit ..read more
Africa News Today
1d ago
South Korea-based LB Investment, which has $1.2 trillion Assets Under Management (AUM) as of 2023, has announced its participation in the 2024 AIM Congress.
The firm will showcase a diverse portfolio of startups and companies, representing cutting-edge innovation and disruptive solutions across industries.
Among the notable entities brought to the forefront by LB Investment are LisMed, Standard Energy Inc., t’order, FITPET, LABLUP, BLUEZONE WIDE, NOTA AI, and ABYSS Company.
LB Investment, a venture capital company with a legacy of fostering innovation and entrepreneurship, and with $1.2 tril ..read more
Africa News Today
2d ago
Meg Whitman, US Ambassador to Kenya, highlights key investment opportunities in Kenya, particularly in the creative industry and clean energy.
She noted that Kenya has the potential to become the Singapore of Africa through vertical business integration, job creation, innovation, and foreign direct investment.
AmCham Business Summit 2024 seeks to strengthen bilateral trade and investment between the US, Kenya, and East Africa.
The fourth edition of the regional American Chamber of Commerce Kenya (AmCham) Business Summit, has officially kicked off in Nairobi, Kenya, under the theme, ‘Catalyzi ..read more
Africa News Today
2d ago
UN faults UK-Rwanda asylum treaty citing concerns on potentially harmful impact on global responsibility-sharing, human rights, and refugee protection.
Spearheaded by Prime Minister Rishi Sunak, the legislation mandates judges to deem Rwanda as a safe third country.
With deportation flights slated to start in July, the move is sparking weighty debates over the ethical implications of outsourcing asylum responsibilities.
This week’s passage of the “Safety of Rwanda” Bill by the UK Parliament has triggered alarm bells within the United Nations (UN), with two prominent leaders, Filippo Grandi ..read more
Africa News Today
2d ago
Namibia’s Mopane field could hold up to 10 billion barrels of oil, Galp announces.
Tests on Mopane-1X well in January and the Mopane-2X well in March gave highly promising findings.
Exploration success in Namibia could pave the way for a new revenue stream for Galp.
Portuguese oil company Galp Energia has set the stage for a potential game-changer in the global energy industry with its announcement at the weekend regarding the Mopane field off the coast of Namibia.
Following the conclusion of the first phase of exploration, Galp projects that the Mopane field could hold up to 10 billion barr ..read more
Africa News Today
3d ago
Chronic instability plagues the existing power grids, worsened by the pressing need to connect growing populations.
The advent of renewable energy sources introduces new complexities, considering the intermittent nature of solar and wind power generation.
Wärtsilä Energy says deploying battery storage and flexible engine power plants offers a pathway toward reliable grid resilience.
Across economies in Africa, a profound transition is underway. Increasingly, economies are grappling with the dual challenge of meeting burgeoning energy demand while steadily transitioning towards sustainability ..read more