The Ugandan government has been taking several steps to speed up internet adoption in the country where the penetration rate stands at 53%. Recently, the government took a loan of about $496 million from the World Bank to achieve this goal. Internet cost has been halved in Uganda, from $70 to $35. Chris Baryomunsi (pictured), Minister of ICT and National Guidance, revealed the...

Central Africa achieved real GDP growth of 5.0 percent in 2022, compared with 3.4 percent in 2021. The rebound in economic activity was driven by favourable prices for raw materials, in a region that is home to net exporters of crude oil, minerals and other commodities. The region’s growth rate was higher than the African average, which is estimated at 3.8 percent in 2022, down from 4.8 percent...

“This glimpse into ETG’s operations was deeply insightful,” says Vice President Quaynor after trip to company’s Southern Africa operations. African Development Bank Group Vice President Solomon Quaynor has concluded a tour of Export Trade Group (ETG)’s southern Africa operations, signalling the potential for stronger partnership with the agribusiness giant to boost livelihoods on the...

The African Development Bank Group has expressed satisfaction with the implementation of its Country Strategy Paper for Burundi for 2019-2023 based on an evaluation by a Bank team led by country representative Pascal Yembiline. Approved in 2019, the CSP helped Burundi mitigate fragility and build resilience through two main pillars: support for the development and transformation of agriculture;...

The Indian government will contribute $2 million to the Africa Digital Financial Inclusion Facility (ADFI), housed and managed by the African Development Bank, affirming its commitment to help break down barriers to the growth and uptake of digital financial solutions and accelerate financial inclusion in Africa. Globally recognised for the success of its digital public payments system that...

Tahirou Barry, the Financial Director of Ports and Terminals at AGL, has been appointed as a member of the Board of Directors of CIAN (the French Club of Companies Invested in Africa), succeeding Philippe Labonne, President of AGL (Africa Global Logistics). As a Guinean national, Tahirou Barry will bring her expertise in African affairs to shape the strategies of international companies...

The International Finance Corporation (IFC) has officially approved its multi-currency loan to the Baobab Group, as announced in late May 2023. This financial facility will be channeled to support local micro, small, and medium-sized enterprises (MSMEs). On Tuesday, July 25, Baobab Group, a financial services provider operating in 8 African countries and one province in China, announced securing...

Despite being in the red, the net result of Morocco's Islamic banking sector improved in 2022 compared to 2021 and 2020. The increased general operating expenses continued to impact the results of the five Islamic banks and three others with Islamic windows in the Kingdom. As of December 31, 2022, Morocco's Islamic banking sector, comprising five Islamic banks and three others with Islamic...

In a renewed effort to combat polio, the Malagasy government plans to administer over 20 million doses of vaccines in just four days. From July 25 to 28, the Malagasy government is carrying out an ambitious polio vaccination campaign. According to information disclosed by the World Health Organization’s (WHO) office in Madagascar, on Tuesday, the campaign targets 18 million individuals. With...

The Ivorian Parliament has approved the constitutional amendment bill, which seeks to revise specific provisions primarily concerning the functioning of legislative and executive powers. The Ivorian parliament (the Senate and the National Assembly) approved the constitutional amendment bill, by an 88.5% vote, the Senate announced in a press release on Tuesday, July 25. The bill was adopted...