Uganda’s Central Bank May Cap Commercial Bank Interest Rates

July 9, 2020 379

Breaking News

Uganda’s central Bank,the Bank of Uganda (BoU) has threatened to cap the interest that commercial banks can charge borrowers, after the industry failed to reduce loan rates in response to cuts in benchmark rates, according to a letter from its governor.The BoU cut its central (lending)rate by 200 basis points, to an all-time low of […]Continue Reading

Helios Partners Agree Merger With Canada’s Fairfax

July 9, 2020 357

Breaking News

Leading African private equity investment infrastructure firm, Helios Holdings Ltd.as agreed to a merger with Fairfax Africa Holdings Corp. of Canada.Helios says the merger would create a stronger African money manager and investment firm.The new company to be known as Helios Fairfax Partners Corp. will be listed on the Toronto Stock Exchange and is majority-owned […]Continue Reading

Access Bank To Acquire Zambia’s Cavmont Bank

July 8, 2020 470

Breaking News

By Chike OnwuegbuchiAccess Bank Plc has entered into exclusive discussions with Cavmont Capital Holdings Zambia Plc on a possible acquisition of Cavmont Bank Limited.In a regulatory filing at the Nigerian Stock Exchange (NSE), Access Bank said the discussions bothered on a”potential transaction” between Access Bank Zambia and Cavmont Bank Limited, a wholly owned subsidiary Continue Reading

Covid-19 Pandemic Costs Africa Travel, Tourism Almost $55 billion –AU

July 6, 2020 759

Breaking News

African countries have lost almost $55 billion in travel and tourism revenues in three months due to the coronavirus pandemic, the African Union (AU) commissioner for infrastructure and energy said on Thursday.Amani Abou-Zeid told a news conference, July 2 that the economic impact of lockdowns and border closures to curb the spread of the virus […]Continue Reading

Finally, FAAN Moves Head Office To Abuja

June 25, 2020 501

Aviation Breaking News

The Federal Airports Authority of Nigeria,FAAN, has moved its corporate headquarters to Abuja.The aviation agency said, June 24, that this was “ in compliance with the directive of the Federal Ministry of Aviation that all agencies in the sector relocate their corporate headquarters to Abuja.”This movement, according to FAAN General Manager, Corporate Affairs, Henrietta Continue Reading

World Bank Loans $750m To Nigeria’s power sector

June 24, 2020 342

Breaking News

— says Nigeria businesses lose $26 billion to power outages, annuallyThe World Bank has announced its approval of a $750 million loan under an International Development Association (IDA) credit for the country’s power sector, June 24,2020. The World Bank’s Board of Directors said they gave the approval “to improve the reliability of electricity supply, achieve […]Continue Reading