Hooters Files for Bankruptcy Amid Financial Struggles and Change
Hooters, the well-known restaurant chain famous for its wings and unique brand image, has filed for bankruptcy due to rising operational costs and shifting consumer spending habits.
Elon Musk’s AI Firm xAI Acquires X in $33 Billion Deal
Elon Musk’s artificial intelligence company, xAI, has officially acquired X, the social media platform formerly known as Twitter, for $33 billion.
Tony Elumelu Joins IMF Advisory Council on Entrepreneurship
The International Monetary Fund (IMF) has appointed Tony O.
8 Chinese, 1 Ghanaian Arrested Over Missing ECG Containers
Ghana’s national security officers have arrested eight Chinese nationals and one Ghanaian at a factory in Shai Hills, Greater Accra, during an investigation into missing containers belonging to the Electricity Company of Ghana (ECG).
MTN and Airtel to Share Network Infrastructure in Uganda, Nigeria
MTN Group and Airtel Africa, two of Africa’s largest telecom companies, have partnered to share network infrastructure in Uganda and Nigeria.
Equity Bank Reports KSh 48.8 Billion Profit in 2024, Shows Growth
Equity Bank Group has announced a net profit of KSh 48.8 billion for the financial year ending December 2024.
Indonesia Joins BRICS' New Development Bank to Boost Economy
Indonesia has officially joined the BRICS-affiliated New Development Bank (NDB), marking a significant step in its expanding ties with global economic organizations.
Flydubai Partners With Network International to Offer Mobile Payments
Flydubai has partnered with Network International to introduce mobile money payments for Ugandan travelers, making it easier to book flights.
Samsung TV Pioneer Han Jong-hee Dies at 63 From Heart Attack
Han Jong-hee, a key figure behind Samsung’s global TV success, has died of a heart attack at the age of 63.
Ecobank Kenya Raises Ksh 3.5 Billion to Boost Regional Growth and Support SMEs
Ecobank Kenya has raised Ksh 3.5 billion to strengthen its financial capabilities and expand its services across East Africa.
Uganda’s Insurance Sector Struggles as USAID Cuts Lead to Job Losses
Uganda’s insurance industry is experiencing a rise in claims as job losses mount due to USAID funding cuts and government agency mergers.
Uganda Airlines to Launch Direct Flights to London Gatwick in May
Uganda Airlines will begin direct flights between Entebbe and London Gatwick starting May 18, 2025, a move aimed at strengthening ties between Uganda and the UK.
NPA Boss Vows Crackdown on Illegal Fuel Trade
The Chief Executive of the National Petroleum Authority (NPA), Godwin Kudzo Tameklo Esq., has pledged to take strong action against individuals and groups involved in illegal fuel trade.
Ben & Jerry’s Accuses Unilever of Unlawful CEO Firing
Ben & Jerry’s has accused its parent company, Unilever, of unlawfully firing its CEO, David Stever, due to disagreements over the ice cream brand’s social mission and political stance.
Nigeria’s Inflation Drops to 23.18% in February, Says NBS
Nigeria’s inflation rate eased to 23.18% in February 2025, a decline from the 24.48% recorded in January, according to the National Bureau of Statistics (NBS).
EU Plans to Ease Gas Storage Rules to Prevent Price Spikes
EU member states are considering relaxing gas storage targets to prevent prices from rising sharply before an expected tough year.
Tesla Warns Trump’s Trade Policies Could Hurt U.S. Automakers
Electric vehicle giant Tesla has cautioned that the Trump administration’s trade policies could negatively impact U.S. automakers, including itself.
Uganda Welcomes French, Spanish Influencers to Boost Tourism
Uganda has launched a new tourism campaign targeting French and Spanish-speaking travelers by inviting top social media influencers from France and Spain.
Ghana Stock Market Rises as Banking, Telecom Stocks Gain
Ghana’s stock market saw a slight increase on Tuesday, with the benchmark GSE Composite Index rising by 0.12% to close at 6,062.20 points.
Nigeria’s Petrol Imports Surge to N15.4tn Despite Local Refining
Nigeria’s petrol import bill more than doubled in 2024, rising from N7.5 trillion to a record N15.4 trillion, despite the start of local refining operations.
Tesla Stock Drops as Analyst Warns of Potential Decline
Tesla’s stock declined on Thursday after a well-known analyst, who has been optimistic about the company in the long run, predicted that shares would drop soon.
Marvell Stock Drops Despite Strong Earnings and AI Growth
Marvell Technology Inc. posted better-than-expected earnings and guidance, but its stock still fell on Wednesday.