Nigeria’s Central Bank cracks down Accounts of 4 Major Fintech companies

CBN has been given the greenlight to freeze bank accounts belonging to Nigerian investment-tech companies Bamboo, Chaka, Risevest and Trove – alleging that they were operating without licenses as asset management companies and utilizing foreign exchange from the Nigerian market for purchasing foreign bonds and shares.  We look at how this is affecting the start…

Toyota launches assembly plant in Ghana: What’s the future Africa’s automobile industry?

Ghana recently launched a Toyota assembly plant making it the second auto assembly plant in the country in less than a year. With the assembly unit boasting a $7 million investment with annual production capacity of around 1,330 units, is Africa beginning to cash in on its ‘youth dividend’?

The Weekly Beat: July 19, 2021

Nigeria’s Federal Inland Revenue Service recently issued a statement directing banks to freeze all accounts in Nigeria belonging to MultiChoice Nigeria and MultiChoice Africa until it had been able to recover the money the TAXMAN is allegedly owed. Which is around 1.8 trillion naira or 4.4 billion DOLLARS. Is this the end of the road…

The Weekly Beat: July 12, 2021

As Ethiopia opens up its Telecommunications space, bidders rushed to the Eastern African nation to get a piece of the pie as the nation seeks to open up the lucrative telecoms sector. After the first round of bids, Ethiopia awarded a telecoms licence to a consortium led by Kenya's Safaricom. However, what does this mean…

The Weekly Beat: June 7 2021

Nigeria is Africa’s biggest oil exporter and yet also a major gasoline importer.As the country tries to rebuild its oil refineries , the state has demanded for a stake in at least six of them, including Dangote’s monster 650,000 barrels-per-day plant.  We breakdown the impact of these refineries on the economy

The Weekly Beat: May 31, 2021

The WTO just released their tally of its members’ notification submissions. With morethan 3,000 notifications about product requirements for traded goods, Kenya, Rwanda, Tanzania and Uganda were responsible for 26% of the notifications submitted in 2020. What does this spellFor the bloc’s investment outlook?