Addis Ababa News

New convention centre in Addis Ababa

Chinese firm to build convention centre in Ethiopian capital. Ethiopian president Mulatu Teshome has laid the foundation stone of a $130-million convention and exhibition centre being built by Chin...
Addis Ababa News

Kia Motors to assemble cars in Ethiopia

South Korean car company eyes East African market. The South Korean Kia Motors Corp is to begin assembling cars in the town of Adama, south of Addis Ababa, after signing a deal with local car manuf...
Lagos News

Lagos to export crude oil from Aje field

Exportation of oil to begin from Lagos offshore Aje field. Lagos is set to begin exporting crude oil from its offshore Aje field, via the Front Puffin floating production, storage and offloading (F...
Accra News

Italian premier to visit Accra on West African tour

Renzi visit includes Nigeria, Ghana and Senegal. Italian premier Matteo Renzi began his three-day African visit in the Nigerian capital Abuja, where he met the nation's president Muhammadu Buhari,...
Maputo News

Mozambique to check credit card use overseas

Mozambique central bank to stem flow of foreign-exchange. Holders of debit and credit cards issued by banks operating in Mozambique will be limited to a maximum of 700,000 meticais ($13,600) per ye...
Cape Town News

Cape Town puts start-up companies on the map

Website links new firms through interactive map A new interactive website is charting Cape Town's start-up companies and fledgling service-providers, with the aim of encouraging new businesses to...
Accra News

Rockefeller Foundation funds Accra ICT park

World-class facility aimed at unemployed Ghanaian youth The Rockefeller Foundation has granted the Ghanaian government $3.8 million to construct a major data centre in Accra. The aim of the Inform...
Nairobi News

Nairobi most expensive city in Africa

Reasons include rising cost of living and new taxes Nairobi is Africa’s most expensive city according to a report by the Economist Intelligence Unit (EIU). The Worldwide Cost of Living 201...
Lagos News

Nigeria to phase out Polymer Naira banknotes

Nigeria is to revert to printing banknotes on paper instead of polymer, according to an announcement by the Central Bank of Nigeria (CBN). The reversal in policy follows a 2006 deal with Australia'...
Maputo News

South Korea opens embassy and trade office in Maputo

Move signals increasing trade between the two nations South Korea’s Trade-Investment Promotion Agency (KOTRA) is due to launch a business centre in Maputo, following the opening of the South Ko...
Accra News

Accra hosts Singapore trade office

Singapore has opened a trade and investment centre in Accra to promote economic partnership between Singapore, Ghana and other countries in the west Africa sub-region. The International Enterprise...
Cairo News

Egypt raises import taxes on luxury goods

The Egyptian government has increased import duties on 100 "unnecessary" goods as part of its ongoing efforts to revive the nation's ailing economy.   The decree sees tariffs raised by 5 to 40...
Nairobi News

Toyota Tsusho invests in Nairobi

Japanese conglomerate Toyota Tsusho Corporation has established a regional headquarters in Nairobi, joining other multinational companies already operating in the regional hub, such as America's Gener...
Nairobi News

Fuel prices rise again in Kenya

  New fuel prices in Kenya have been announced by the Energy Regulatory Commission (ERC) and take effect from 15 October until 14 November. In Nairobi super petrol has increased by Sh6.31...
Lagos News

Six-month ultimatum for illegal Lagos land owners

The state government of Lagos has warned that residents who have acquired land using fake documentation have six months to regularise their situation or face penalties. The governor of Lagos Babatu...
Nairobi News

South Korean strengthens ties with Kenya

The University of Nairobi is to establish a South Korean Study Centre following an agreement with the Korean Foundation, an independent organisation affiliated to South Korea's foreign affairs ministr...
Dar Es Salaam News

Swiss chocolate produced in Dar es Salaam

Swiss chocolate company Neuchatel Chocolate is to establish a facility at Dar es Salaam’s Export Processing Zone (EPZ) in September, when it will produce chocolates for export. The premium choc...
Maputo News

Barcodes for Mozambique

  The Mozambican government is poised to introduce a barcode system in the country later this year, according to the industry and trade minister Armando Inroga. Inroga said that his adminis...
Arusha News

African Development Bank Group to meet in Arusha

The annual meetings of the African Development Bank Group (AfDB) take place in Arusha from 28 May - 1 June, with the theme "Africa and the Emerging Global Landscape: Challenges and Opportunities"....
Maputo News

Mozambique considers changing working hours

The Mozambican government is considering changing the working hours of the country's financial sector in a bid to reduce traffic congestion in major cities such as Maputo. Discussions are taking pl...