MTN Uganda has failed to hit its expected fund-raising target after its much-publicized IPO. The IPO, which was highly restricted to East African investors, was a much-hyped affair. The IPO was also heavily discounted in a bid to attract investors.
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Kenya is considering banning air travel from South African countries in response to growing fears of a new coronavirus variant discovered in Johannesburg. The variant, which the World Health Organization calls Omicron, is said to be more transmissible than any
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Sudan and South Sudan, two countries that were one not so long ago, have announced they will open up their borders after 11 years. The decision came after a high-level diplomatic meeting between the two countries held in Juba. The
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Kenyan telecommunication giant Safaricom has pulled out its staff and employees from Addis Ababa. The move comes as security fears over the Ethiopian capital continue to grow. Right now, the government of Prime Minister Aby Ahmed is fighting Tigrayan and
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The armed conflict in Ethiopia’s Tigray region is threatening to put the country’s textile industry in jeopardy. At the moment, Ethiopia is one of few countries that enjoy duty-free exports to the US. This has allowed its textile industry to
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The ongoing conflict in the northern region of Tigray in Ethiopia is threatening the peace and stability of the Horn of Africa nation. The conflict, which pits the Tigray People’s Liberation Front or the TPLF and the Ethiopian government, has
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The Military in Sudan has dissolved and taken over the civilian government. Several civilian leaders have also been arrested and a state of emergency declared. The coup, which is led by General Abdel Fattah Burhan, brings to an end a
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The government of Kenya has announced that it will begin manufacturing the COVID 19 vaccine locally. Kenya is planning to begin these operations in April 2022. The move is designed to address supply chain challenges that have made vaccine access
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The Ethiopian Army has begun a full-scale ground assault against rebel positions in Tigray. According to the rebels, the army is closing in on all fronts using heavy artillery, jets, and drone attacks. The rebels also note that they were
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MTN Uganda has announced plans to float its first IPO in the Uganda Securities Exchange. The telecoms company is hoping to raise $1.2 Billion and would offer a fifth of its business to investors in return. The IPO will be
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