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Ethiopia’s Largest Bank is Struggling to Recoup Millions of Dollars after a Glitch

Ethiopia’s Largest Bank is Struggling to Recoup Millions of Dollars after a Glitch

More than $40 million was reportedly withdrawn from the state-owned Commercial Bank of Ethiopia or transferred to other banks, as customers discovered they could withdraw more than their total balance. Transactions were halted several hours later. The bank’s President Abie Sano told a press conference earlier this week that a large portion of the cash […]

South Africa’s Troubled State-owned Airline is Seeking a New Strategic Partner 

South Africa’s Troubled State-owned Airline is Seeking a New Strategic Partner 

South African Airways (SAA) chief executive John Lamola said in an interview that, “You can’t have an airline run entirely by the government. The best scenario would be to list SAA on the stock market, in which the South African government would still have a ‘golden share’ to ensure the country’s strategic economic interests are […]

The Economic Impact of the Recent Internet Disruption in Africa

The Economic Impact of the Recent Internet Disruption in Africa

Since last week, Africa has faced unprecedented internet outages. Reports from Netblocks, an internet observatory, revealed that the disruptions are due to several damaged subsea cables. The damage has impaired essential subsea fibre networks, notably WACS, MainOne, SAT3, and ACE, leading to a significant downturn in the telecom sector. The affected countries include Benin, Burkina […]

Investment in Green Hydrogen Industry could Transform Namibia’s Economy

Investment in Green Hydrogen Industry could Transform Namibia’s Economy

Germany aims to designate an ambitious green hydrogen project in Namibia as strategically significant, paving the way for additional financial support and bringing a plan that could transform the economy of the African nation closer to reality. Enertrag SE, which holds a stake in the $10.8 billion Hyphen project on the south coast of Namibia, […]

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