Economy News & Updates | Africa

Safaricom chances of winning one of two Ethiopia telecommunications operating licences got a boost after it emerged as one of only two bidders to participate in the auction that closed.

Kenya Airways has partnered with a United Kingdom-based logistics firm to offer drone services as it seeks to diversify its income source and cut reliance on passenger travel, which has been hard hit by the Covid-19 pandemic.

The latest findings from the research Consumer Pulse Report by TransUnion show the financial impact of the COVID-19 crisis on South African consumers has dropped drastically by 20 percentage points to 62 percent.

Absa Bank Uganda saw its net profit sharply drop by nearly 50 percent from UGX 78 billion (approx. USD 21.6 million) in 2019 to UGX 40 billion (approx. USD 11.1 million) in 2020 as COVID -19 pandemic took a toll on the financial sector.

Financial institutions like commercial banks will be required to immediately give up the full rights to individual apartment buyers when they finish paying up their mortgages or loans under new regulations aimed at boosting homeownership.

The UN Food Systems Summit has announced a competition to identify the best small and medium-sized enterprises from across the world including Tanzania who are transforming food systems for a better tomorrow.