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Appointments:
Equity Bank Uganda has appointed Henry Rugamba as the bank’s new Board Chairperson. Rugamba is a veteran communications strategist and proprietor of Songa communications.
Expansions;
Uganda Airlines is expanding its regional footprint, with plans to launch flights between Entebbe and Kigali in August.
The new route is set to bring competition to a route dominated by Rwandair.
Appointments;
Spiro has appointed Anant Badjatya, former CEO of Indofast Energy, as Group CEO to steer its next phase of growth following a landmark $215 million funding round. He will lead Spiro’s expansion across mobility, energy, logistics& vehicle manufacturing in Africa.
M&A Alert:
Providus Bank and Unity Bank have completed their merger, marking one of Nigeria’s most significant banking consolidations in recent years. The deal is expected to strengthen balance sheets, expand market reach, and intensify competition in the sector.
Rwanda-UK Asylum Deal Arbitration Concludes:
The Permanent Court of Arbitration has ruled that the UK will not make additional payments to Rwanda under the cancelled asylum partnership agreement, bringing the high-profile dispute to a close.
Mergers:
African startup M&A activity is heating up as Spiro acquires UK engineering firm for an undisclosed fee.
Spiro’s acquisition of Coexlion shows how African companies are increasingly using acquisitions to secure technology, talent, and global competitiveness
NEWS:
Shelter Afrique Development Bank and IF C have signed a strategic partnership at to mobilize private capital and accelerate affordable, sustainable housing across Africa.
Africa’s housing deficit stands at 56 million units, requiring an estimated $3 trillion in investment.
Breaking:
Ethio Telecom has officially debuted on the Ethiopian Securities Exchange after verifying over 45,000 shareholders, Making it one of the largest retail investor participation events in the country’s history.
Newsletter:
Africa Weekly - Biashara Afrika, Senegal’s marriage of convenience come to an end, Ugandans pushback on Ebola claims https://t.co/SqYRL0NKUd
EARNINGS ALERT: Equity Group just crossed the Ksh 2 TRILLION balance sheet mark.
Q1 2026 PAT surged 24% YoY to Ksh 19.1B, powered by rising deposits, loan growth and its aggressive pan-African expansion strategy.
A banking giant quietly becoming Africa’s financial powerhouse.
Newsletter:
Africa Last Week- Biashara Afrika Summit: AfCFTA Moves to Execution, Macron’s performative African show, Museveni swears in for 7th term https://t.co/zQ9dN0uXhk
NEWS:
Shelter Afrique Development Bank and IF C have signed a strategic partnership at to mobilize private capital and accelerate affordable, sustainable housing across Africa.
Africa’s housing deficit stands at 56 million units, requiring an estimated $3 trillion in investment.
Appointments:
Former NSSF Uganda boss Richard Byarugaba has been tapped by James Mwangi to lead Equity Group Insurance’s new Asset Management subsidiary.
The new subsidiary is set to be headquartered at the Equity towers in Kigali.