As Starlink continues to expand its satellite internet service across Africa, the company has established a variety of pricing structures tailored to different markets. Understanding these costs is essential for consumers and businesses looking to leverage Starlink’s high-speed internet in their respective countries. Below is a detailed breakdown of the hardware and monthly fees associated … Read more
The African Development Bank Group (AfDB) has granted a significant boost to Dashen Bank, Ethiopia’s oldest and second-largest privately-owned bank, with a $40 million transaction guarantee facility. This facility is designed to support and enhance Dashen Bank’s trade finance capabilities, particularly for Small and Medium-Sized Enterprises (SMEs) and local corporates engaged in import and export … Read more
Ethiopian Airlines, the largest carrier in Africa, has recently revealed a significant milestone in its growth strategy—an agreement for a USD $450 million loan to fund the acquisition of five new Boeing aircraft. The deal comprises three Boeing 737-8 and two Boeing 777F (Cargo) planes. Facilitated by Citi’s Corporate Banking and Export Agency and Finance … Read more
In a financial landscape where adaptation is key, Safaricom’s M-PESA remains the crown jewel, contributing 42.1% to the telco’s revenue in the six months ending September 2023. This marks an uptick from 39.3% during the same period in 2022, showcasing the enduring strength of mobile financial services. Profitability on the Rise Safaricom’s financial report for … Read more
Overview: FAO Warns of Below-Average Cereal Production The Food and Agriculture Organization (FAO) has raised concerns about below-average cereal production in the East African region. Erratic rainfall patterns and insecurity are cited as key factors affecting the 2023 main season cereal crops. Mixed Production Prospects in Northern Subregion In the northern parts of the subregion, … Read more
Ethiopia, in its pursuit of economic expansion and global competitiveness, is taking a significant step forward with the approval of a $730 million loan from the International Development Association, a division of the World Bank Group. The funds will be utilized to upgrade the crucial road link between Addis Ababa and the port city of … Read more