Nigeria’s central bank leaves saving the economy late. After several months of dollar scarcity in the country, the apex bank said it will launch a foreign exchange interbank trading window on Monday to boost the supply of foreign currency, spur economic growth and restore investor confidence.
The professional cloud and the professional network align. Microsoft Corp. has acquired and LinkedIn Corporation, the world’s largest and most valuable professional network in an all-cash transaction valued at $26.2 billion.
Fighting Uber. Kenya’s Mondo Ride is shifting focus to drivers and has offered them a better deal, hoping to steal some Uber drivers.
Africa’s biggest company keeps growing. Naspers, which rode an early investment in Tencent Holdings Ltd. to a market value now topping $62 billion, said it expects to report that full-year earnings rose as much as 20 percent when one-time items are excluded.
Who agrees futures contracts on tea? Kenya. The world’s biggest exporter of black tea, is considering introducing the world’s first futures contracts for the leaves to help stabilize prices and enable growers to guarantee income from their production.
9.8 million cartons to Europe. European appetite for citrus is giving a boost to southern African exports that had been threatened by the worst drought in decades.
Exploiting growth spots worldwide. South Africa’s Steinhoff on Wednesday acquired 22.78 percent of Poundland and is considering a full cash bid for the British retail chain.
Prices continue going up in Nigeria and Ghana. Ghana’s consumer price inflation rose marginally to 18.9 percent year-on-year in May from 18.7 percent in April. Nigeria’s rose to 15.6 percent in May from 13.7 percent in April.
If Britain leaves the EU, it will hurt Africa. Brexit could shave about 0.1 percentage point off South Africa’s economic growth due to the nation’s strong trade ties with the U.K. and European Union, researchers say. Several countries in Africa have similar ties.
Walking on stumps to escape jail? Oscar Pistorius is a double amputee. In case the Court forgot because he is often seen with his prosthetic legs, the paralympian walked on stumps on Wednesday to show how vulnerable he would be in jail if committed to a long sentence.
Before you go…
Andela has raised a $24 million series B round led by the Chan Zuckerberg Initiative (CZI).
GE has inaugurated a $13 million GE Healthcare Skills and Training Institute in Kenya to train 10,000 healthcare professionals from across Kenya and East Africa by 2020.