meteoric fall African Tech: 54Gene, Swvl, Wave… Start-ups are laying off staff at every turn The time is ripe for austerity for the continent's start-ups, which are not immune to a global trend favouring profitability over growth. ...
Listing Drought Kenya stock exchange plans mobile trading app by end of first quarter The Nairobi Securities Exchange plans to launch a mobile trading app for retail users by the end of the first quarter, CEO Geoffrey Odundo tells ... The Africa Report.
Spreading the Load Rwanda: First of its kind distributed mini-grid can raise energy access, Zola Electric says A pioneering distributed mini-grid in Rwanda points one way forward for increasing energy access in Africa, Zola Electric CEO Bill Lenihan tells ... The Africa Report.
on switch Nigeria approves 1,650MW hydropower project, official says Nigeria has approved the construction of a 1,650MW hydropower plant at a cost of $3bn, making it one of the single biggest power projects in ... the country, the vice president's spokesperson said on Tuesday. It comes as private sector financing for the sector is growing, with the recent listing of Geregu Power PLC.
Winds of Change Siemens Gamesa Egypt sees Russia-Ukraine war threatening wind energy growth Supply chain challenges arising from the Russia-Ukraine war present risks to the short-term development of Egypt’s wind power industry, Ayman ... Saad, CEO of Siemens Gamesa Egypt, tells The Africa Report.
false start Nigeria Air grounded, with $250m investment in limbo after court decision A $250m commitment by Ethiopian Air, MRS Oil and Gas and Skyway Aviation Handling Company Plc (SAHCO) is now in limbo after a Nigerian court ... ordered the suspension of the planned take-off of the country’s proposed carrier, Nigeria Air.
growth impact Ethiopia banks on 7.5% growth, Abiy tells parliament Ethiopia's economy is expected to grow by at least 7.5% in the year to July 2023, Prime Minister Abiy Ahmed told the country's parliament on ... Tuesday, lower than the 9.2% projection officials had previously forecast.
trying patience Jumia: Why did Wall Street sour on Africa’s e-commerce Unicorn? Under pressure from investors, the board of the e-commerce platform got rid of its two cofounders. The company vows to be more focused on its ... operations in Africa, its core commercial business and profitability.
Big smoke South Africa: The endless coal conundrum and the $8.5bn plan to remove it The continent's most polluting economy must reduce its dependence on coal while continuing to provide electricity to its people. ...
heavy debts Kenya: Ruto, boxed in by IMF, may slash civil service and hike taxes William Ruto has pledged to cut Kenya’s public debt by reducing borrowing, and improving state revenue to bridge the East African country's ... financing gap. However, mounting pressure keeps pushing the government to take out more loans, making it harder for the president to live up to his promises.
