OPEC+ Extends Oil Output Cuts Through December
Saudi Arabia and its allied oil-producing countries announced Sunday that they will extend their oil output cuts through December, delaying…
Category: Business
Volkswagen Group Africa Launches Facility for E-Tractors in Rwanda
Volkswagen Group Africa has announced the launch of its first multifunctional facility in Rwanda to pilot modern farming practices using…
World Bank Lowers 2024 Growth Forecast for Sub-Saharan Africa Due to Sudan Conflict
The World Bank has revised its economic growth forecast for sub-Saharan Africa in 2024 to 3%, down from the previous…
Bank of Kigali, Kivu Choice Sign RWF 5 Billion Agriculture Financing Deal
Bank of Kigali (BK) has partnered with Kivu Choice Ltd., a leading aquaculture company, in a RWF 5 billion agreement…
Dangote Refinery Begins Gasoline Sales in Nigeria
Nigeria’s Dangote refinery, with a capacity of 650,000 barrels per day, has commenced domestic gasoline sales, partnering exclusively with the…
WTO Chief Ngozi Okonjo-Iweala Announces Candidacy for Second Term
Ngozi Okonjo-Iweala, the seventh Director-General of the World Trade Organization (WTO), announced her candidacy for a second term on Monday,…
Engie Energy Access Rwanda, Samsung Partner to Boost Smartphone Ownership in Rwanda
Engie Energy Access Rwanda and Samsung have launched a strategic partnership aimed at increasing smartphone ownership in Rwanda by offering…
Ethiopian Airlines Halts Flights to Asmara
Ethiopian Airlines has suspended flights to Eritrea’s capital, Asmara, citing challenging operating conditions. The move follows Eritrea’s announcement that it…
African Nations Lose Up to 5% of GDP Each Year Due to Climate Change
African nations are losing as much as 5% of their GDP each year due to climate change, according to a…
Uganda Expands Oil Exploration to New Regions
Uganda is launching oil exploration in two new regions, Energy and Mineral Development Minister Ruth Nankabirwa announced Wednesday. Nankabirwa revealed…
Kenya Airways Reports First Half-Year Profit in Over a Decade
Kenya Airways announced Monday it achieved its first half-year profit in more than a decade, reporting a net income of…
BK Group Plc Names Dr. Uzziel Ndagijimana as New CEO
BK Group Plc has appointed Dr. Uzziel Ndagijimana as its new Chief Executive Officer, effective August 14, 2024, following the…
MTN Rwanda Reports 307% Drop in Half-Year Net Profit to Rwf10.5 Billion
MTN Rwanda reported a 307.1% drop in net profit for the first half of 2024, with profits after tax falling…
South Sudan President Fires Finance Minister, Sixth Change Since 2020
South Sudan President Salva Kiir has dismissed Finance Minister Awow Daniel Chuong, marking the sixth change in the position since…
Zimbabwe’s Growth Forecast Dims Amid Devastating Drought Impact on Crop Yields
Zimbabwe’s economic growth outlook has been sharply downgraded due to a severe drought wreaking havoc on crop yields, Finance Minister…
Adpacey Technologies Expands Digital Screen Advertising in Kigali
Adpacey Technologies Ltd. has announced the expansion of its Digital Screen Advertising services across Kigali. The company’s state-of-the-art digital screens,…
Rwanda in Discussions with AfDB to Bring Pan-African Youth Bank to Kigali
Rwanda is in discussions with the African Development Bank (AfDB) to potentially introduce a youth entrepreneurship investment bank in Kigali,…
Bank of Kigali Announces Partnership with VCWC 2024 as Official Banking Partner
Bank of Kigali has solidified its role in the forthcoming Veterans Club World Championship (VCWC) by signing a three-year partnership…
AfDB Reports Africa’s Economic Growth Slowed to 3.1% in 2023
Africa’s economic growth dipped to an average of 3.1% in 2023, down from the previous year’s 4.1%, as stated in…
MTN Rwanda Approves Dividend Payout of Rwf5.7 Billion
MTN Rwanda’s Board of Directors has approved a recommendation to distribute Rwf5,724,860,000 as dividends to shareholders. This recommendation awaits shareholder…