Matthew Antwi is a haulier and works for a Nigerian business that exports coconuts. He regularly drives the Lomé-Cotonou road from his home country Ghana to deliver the nuts to Nigeria. “A few years ago, it took around two hours to complete all the formalities at the border and up to three hours to get to Aflao (on the border between Togo and Ghana) from the Benin-Togo border-control...

The government of Niger is looking to merge Niger Telecoms and Zamani Telecom. The project was unveiled by Sidi Mohamed Rahilou, the Minister of Communication, Postal Services, and Digital Economy, while recently visiting the two companies. According to the source, the State of Niger will be the majority shareholder of the merger product. For now, only Niger Telecoms is fully owned by the...

Burkina Faso has updated its 2023 budget and under the new budget, revenues are forecast at $3.8 billion. The government attributes the amendment to the evolving security situation and significant unforeseen additional needs that were not included in the original budget. The government of Burkina Faso adopted on August 31 a revised Finance Act that showcases a 2.13% increase in revenues for...

Hundreds of young people from across Africa are demanding a significant role in decision making for climate action. Youth leaders, entrepreneurs and policymakers presented the Africa Youth Climate Assembly Declaration to Kenya’s President, William Ruto, and African Development Bank Group President Dr Akinwumi Adesina. The Declaration, which was the culmination of the Africa Youth Climate...

Facility to potentially host the Bank’s Special Agro-Industrial Processing Zones initiative Eritrea has a long coastline on the Red Sea but limited fresh water. Its erratic rainfall has left most of the country arid. This is a challenge for Eritreans who depend on agriculture and livestock for their livelihoods. But things are changing. In the space of three years, Eritrea harnessed local...

Through the Emerging Markets Infrastructure Fund II, the financial institution plans to finance transport and renewable energy projects in targeted countries where such infrastructure is limited, in Africa as well as in Southeast Asia.  The International Finance Corporation (IFC) plans to invest $50 million in an investment fund targeting transport and energy infrastructure projects in...

Agriculture contributes 20% of Burkina Faso’s GDP and employs about 73% of the active population. Over the past three months, the country’s government, concerned about food security, has been launching several initiatives in the agricultural sector. The Ministry of Agriculture of Burkina Faso plans to launch a new strategy for boosting the country’s agricultural output. This was announced...

At a meeting with employers, General Brice Clotaire Oligui Nguema, head of Gabon's military transition, pledged to resolve 4 of the 13 challenges reported by entrepreneurs. The process by which these commitments will be implemented has yet to be specified, but in the meantime, the commitment made by the head of the transition is welcomed by the employers' association present at the...

The African Development Bank Group, on 29 August 2023, announced the 15-month debarment of Beza Consulting Engineers PLC and Mr. Gidey Gebrezgabher Gebremariam, with effect from 21 August 2023. Beza Consulting Engineers PLC is a consulting firm registered under the laws of Ethiopia. Mr. Gidey Gebrezgabher Gebremariam is the Chairperson of the Board and General Manager of Beza Consulting Engineers...

The report reveals that most African fintechs operate in the payments & remittances, lending & financing, and business administration segments. African fintechs raised $2.7 billion between July 2021 and June 2023, according to a report published on August 21 by Disrupt Africa, an information platform specializing in Africa's tech ecosystems. Over a third of the amount was raised by...