In a move aimed at bolstering national security, the Somali Government has recently declared a ban on popular social media platform TikTok, messaging app Telegram, and online betting site 1xBet. The government’s assertion is that these platforms have been exploited by “terrorist” groups for propagating their ideologies. Cutting Off Access: The Ban and Its Implications … Read more
Mozambique is gearing up to implement regulations governing carbon-credit projects in the country, joining other African nations like Zimbabwe, Malawi, and Kenya in this endeavor. The government aims to finalize draft rules by the end of this year, with presentation to the Council of Ministers for approval expected in Q1 2024. This move seeks to … Read more
Kenyan startup Zanifu has successfully raised $11.2 million in a round of debt-equity funding to support its platform, which provides inventory financing solutions for micro, small, and medium-sized businesses (MSMEs). Beyond Capital Ventures and Variant Investments led the funding round, and other participants included Founders Factory Africa, AAIC Investment, Google Black Founders Fund, and Launch … Read more
For decades, the bread industry has been a cornerstone of Ghana’s culinary culture, but recent developments are reshaping its landscape. The rise of a sprawling factory along the Accra-Tema motorway has ignited discussions about the future of this staple industry and its local players. Traditionally dominated by local producers, the bread industry is now facing … Read more
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has released its latest findings on petrol consumption in the country, revealing a significant drop of 16.8% in July 2023. According to the Authority’s report, daily petrol consumption decreased to 52 million litres in July, compared to 64.96 million litres in June of the same year. … Read more
Retirement isn’t just about kicking back; it’s also about ensuring your finances stay in tune. That’s where pension plans and annuities come into play. Let’s break down these terms and figure out how they work to keep your retirement days humming smoothly. Understanding Pension Plans Think of pension plans as financial instruments that guarantee you … Read more
Retirement planning is a universal endeavor, but for Ghanaians and Nigerians residing in Europe with aspirations to retire in their homeland, it carries unique considerations. This comprehensive guide delves into tailored retirement plans, shedding light on how expatriates from these countries can strategically manage their retirement journey while abroad, with a focus on their eventual … Read more
The Standard Bank Group has announced robust financial results for the first half of 2023 (1H23), marked by a 35% increase in headline earnings to R21.2 billion. The company’s return on equity (ROE) also improved to 18.9%. These positive outcomes are attributed to the group’s differentiated franchise and its strategic focus on Africa. Key Highlights … Read more
The Nigeria Deposit Insurance Corporation (NDIC) has announced its intention to conduct investigations into the directors of 183 banks whose licenses were recently revoked. The Managing Director of NDIC, Mr. Bello Hassan, shared this information during a capacity-building workshop for law enforcement agencies in Lagos. NDIC plans to collaborate with the Economic and Financial Crimes … Read more
The Ghana Police Service (GPS) has taken a significant step towards enhancing road safety and enforcing road traffic regulations with the introduction of an advanced automated system named Traffictech-GH. This digital platform aims to ensure strict adherence to road traffic laws through the use of cutting-edge cameras and sensors that identify drivers who violate these … Read more