Updates on trends of various African markets, including stock markets, real estate, commodities, and more.
Technology vendor Ericsson is optimistic that the deployment of 5G technology will have a transformative impact on Nigeria’s tech startup ecosystem, fostering increased innovation and digital growth. This sentiment was shared by Hassam Kandeel, Vice President at Ericsson Middle East and Africa, during Ericsson’s leadership visit to Nigeria. The company aims to strengthen its collaboration … Read more
The People’s Bank of China (PBOC) has announced a reduction in its one-year loan prime rate from 3.55% to 3.45%, in an effort to stimulate the nation’s post-COVID economic recovery. Despite the global backdrop of rising interest rates to combat inflation, China’s ongoing struggles with property market turmoil, declining exports, and weak consumer spending have … Read more
The Ministry of Tourism in Ghana is poised to revolutionize its revenue collection system at major tourism sites and attractions by introducing automated solutions. This strategic move, set to commence in 2024, aims to modernize payment procedures and enhance visitor experiences at key destinations while bolstering tourism revenue for the country. Modernization Plans The Tourism … Read more
Short-form video platform TikTok has responded to mounting concerns by pledging to intensify content review and moderation, just days after a petition advocating for its ban was presented in Kenya’s parliament. The move comes after TikTok CEO Shou Zi Chew engaged in discussions with President William Ruto, vowing to uphold community standards and remove inappropriate … Read more
Mozambique’s recent foray into the Treasury Bonds market has yielded promising results, with demand far outpacing supply. On Tuesday, August 22, the nation offered 481 million meticais in a single issue of Treasury Bonds (OT) through the Mozambique Stock Exchange (BVM). The response was overwhelming, with demand reaching three times the supply. Successful Treasury Bonds … Read more
The Coalition of Transport Union and Association has thrown down the gauntlet, warning of a potential 20 percent surge in transport fares should the government disregard their plea to eliminate specific taxes embedded within the petroleum price build-up. The union is taking a firm stance, urging the government to put an end to the burden … Read more
Current Pricing Structure Under Scrutiny: Industry Players Raise Concerns The telecommunications sector, a cornerstone of the nation’s economy, finds itself at a crossroads as stakeholders, led by the Association of Licensed Telecoms Operators of Nigeria (ALTON), ring the alarm bells over the existing pricing framework governing calls, short message service (SMS), and data services. Amidst … Read more
Ekperikpe Ekpo, Nigeria’s Minister of State for Gas, has announced his commitment to collaborate with the Ministry of Petroleum Resources to tap into the nation’s abundant natural gas reserves, with the goal of mitigating transportation costs for Nigerians. The minister made this statement after resuming his duties on August 22, emphasizing the need for a … Read more
The National Communications Authority (NCA) of Ghana has initiated the trial phase of Digital Audio Broadcasting (DAB) in the country, marking a significant step towards modernizing radio broadcasting. This move positions Ghana as a trailblazer in West Africa and the fourth country in Africa to adopt this cutting-edge technology. Enhancing Radio Reach and Quality DAB … Read more
The Public Utilities Regulatory Commission (PURC) of Ghana has conducted a review of utility tariffs, resulting in adjustments for certain customer categories. The changes, made under the framework of the Quarterly Tariff Review Mechanism and Guidelines, are set to take effect from September 1st and will remain in place until the end of the year. … Read more