VP of Equatorial Guinea Set to Lose his French Fortunes
France’s highest appeal court has upheld a guilty verdict against the son of Equatorial Guinea’s president for embezzlement, paving the way for the potential return of tens of millions of dollars to the country’s people. Wednesday’s ruling on Teodoro Nguema Obiang Mangue, who is also the vice president of the Gulf of Guinea nation, came […]
Lessons for Future Engagements between China and Ghana
Aid, trade and foreign direct investments typify China’s global rise and its African activities. Contemporary China-Ghana relations follow a similar script with the Bui Dam playing a crucial role in the narrative. The 400-megawatt dam was completed by China’s Sinohydro Corporation in 2013. It was part of the Volta River Project which delivered the Akosombo and Kpong dams in 1965 and […]
The Largest Payments Platform in South Africa Sets its Sight on Expansion
South African payments and software startup Yoco has secured US$83 million in Series C funding to accelerate the development of its platform and expand internationally. Yoco builds tools and services to help small businesses accept card payments in-store and online, access loans, and manage their day to day activities. In less than six years, the startup has […]
North Africa’s Oldest Stone Age Hand-axe Manufacturing Site Found
The find pushes back by hundreds of thousands of years the start date in north Africa of the Acheulian stone-tool industry, associated with the human ancestor Homo erectus, researchers told journalists in Rabat on Wednesday. The discovery was made during excavations at a quarry on the outskirts of Morocco’s economic capital, Casablanca. This “contributes to enriching the debate on the […]
These African States Excel in Boosting Financial Inclusion among Rural Populations
A report by American research firm Boston Consulting Group (BCG) found that Kenya and Ghana have the second and third highest mobile payment usage in the world, after China. The study, Five Strategies for Mobile-Payment Banking in Africa, found that transactions via mobile wallets and phones were the equivalent of 87% of GDP in Kenya and 82% in Ghana. […]
Nigeria’s Central Bank Halts Sale of Forex to Money Changers
The decision will halt the supply of $5.72 billion annually by the central bank to the West African nation’s bureaus de change — a key source of foreign exchange for Nigerians traveling abroad and local businesses. The central bank will also stop issuing new licenses to currency-trading companies, whose number more than doubled to almost […]
President Kicks Off Tanzania’s Vaccination Campaign
In a televised event held at the statehouse on Wednesday, Tanzania’s President Samia Hassan launched the country’s vaccination campaign against COVID-19 by receiving her first shot of the Johnson and Johnson vaccine. The prime minister, chief justice and other top officials also got their shots. The event marks a break with late president John Magufuli, who dismissed […]
A Show of Forgiveness for Ivorian Former Foes
Ivory Coast President Alassane Ouattara and rival Laurent Gbagbo have embraced in their first meeting since the civil war 10 years ago. The conflict was sparked by Mr Gbagbo’s refusal to admit defeat in an election, and 3,000 people were killed. Mr Gbagbo returned to Ivory Coast last month after the International Criminal Court (ICC) acquitted him over […]
