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Africa Business Communities
Joined July 2010
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The Bank of Uganda's MPC sat down yesterday. Highlights:
📌The Central Bank Rate was maintained at 12%
📌The CBR band was widened to ±3 percentage points from ±2 percentage points.
📌Rediscount and bank rates were raised to 16 % and 17%.
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Almost 63% of people in the Middle East, Turkiye, and Africa (META) region who studied online or in a hybrid format in the past year experienced at least one cyber incident; new @kaspersky survey.
Of those affected, 29% lost money.
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TikTok removed 750,185 videos posted in Kenya between April and June for violating its community guidelines, with about 99.8 percent of the videos taken down before any user reports, and 93.8 percent within 24 hours of being posted.
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First Assurance Investments Limited has completed its acquisition of Absa Group’s shareholding in First Assurance Holdings Limited, bringing First Assurance Company Limited and Absa Life Assurance Kenya Limited under its ownership.
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Safaricom has appointed Boniface Mungania as Chief Financial Services Officer, effective 1 November 2026, succeeding Esther Masese Waititu
Mungania takes charge as M-PESA continues to anchor Safaricom’s growth.
Read here: africabusinesscommunities.co…
First City Monument Bank (FCMB) and Mastercard have launched AgroPass, a digital platform that improves smallholder farmers' access to financing, markets, and agricultural services across Nigeria.
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New @GSMA report: 6G mobile networks could add US$1.24 trillion to the global economy in 2040, equivalent to 0.7% of global GDP.
Manufacturing and financial services are expected to be the biggest beneficiaries.
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Emirates SkyCargo has introduced an AI Tech logistics service for transporting AI infrastructure and other sensitive technology equipment.
The product combines priority loading, specialised handling, and shipment monitoring.
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Safaricom Ethiopia is within touching distance of profitability, after its loss before interest, tax, depreciation, and amortisation narrowed by 96.5% to $3.3 million in the six months to 30 September 2026.
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As @Samsung rolls out its Connected Living Experience in Kenya, Sam Odhiambo explains how SmartThings, AI-powered appliances, and energy monitoring are being positioned as practical tools for everyday households rather than luxury upgrades.
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Predator Oil & Gas has suspended its MOU-6 well in onshore Morocco after preliminary testing failed to deliver the expected gas inflow.
The well has been suspended to allow for potential deepening to the TGB-4 interval.
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Afreximbank research -> Trade between Africa and the Caribbean could reach $1.65 billion annually by 2030, excluding mineral fuels, as both regions seek to strengthen economic ties and unlock opportunities across key sectors.
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Cloudmania has partnered with Google Cloud in Kenya to expand access to cloud services, technical training, and market opportunities for local technology providers.
Read here: africabusinesscommunities.co…
This week in business @AfricaBizz
🛢️TotalEnergies completes $800m Nigeria oil divestment
🏦Absa Group launches Dubai office
💳Only 19% of Kenyan SMEs use integrated payment tools, Visa
🚕Bolt backs Vodacom-led e-hailing fleet push in SA
#newsletter #businessnews
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The EBRD and the IFC have each invested $100 million in Banque du Caire’s IPO, securing a combined stake of approximately 14 percent in the Egyptian bank.
The IPO preceded the bank's listing on the Egyptian Exchange (EGX) on 2 November.
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Andela, OpenAI, and Miva Open University have partnered to train 200 developers and engineers in Lagos to build AI-powered solutions for education and lifelong learning.
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Access Bank has announced two senior leadership appointments.
Oluseyi Kumapayi joins as Deputy Managing Director, African Subsidiaries, while Olanrewaju Bamisebi joins as Executive Director, Information Technology and Digitalisation.
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CBK has identified nearly 300 AI use cases across 14 departments. The applications include machine learning for inflation forecasting, nowcasting based on alternative data, and analysis tools to support monetary policy decisions.
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The Wealth Global Income CoreSolutions Actively Managed Exchange Traded Fund (AMETF) has been listed on the JSE main board under the share code WGINC.
The listing brings the number of ETFs listed on the bourse to 142.
Read here: africabusinesscommunities.co…
