The African Development Bank and ILX Management B.V. (ILX) today signed a partnership agreement to scale up investments and spur institutional investor capital mobilization for Sustainable Development Goals and climate-focussed private sector projects in the Bank Group’s regional member countries. The signing ceremony took place at the offices of ILX Management in the Netherlands capital...

The African Development Bank recently hosted a workshop for stakeholders in Kenya’s energy sector to discuss the new Public-Private Partnership Act 2021 and how it can advance the country’s power industry. The 23 March to 24 March event was organized together with the Kenya Electricity Transmission Company (KETRACO), the country’s power transmission agency. Participants looked at the...

Tanzania aims to connect at least 75% of its population to broadband internet. To achieve that goal, the executive is increasing investments to strengthen the national telecom infrastructure.  Last Monday, incumbent telecom operator Tanzania Telecommunications Company Limited (TTCL) signed a partnership agreement with the local subsidiary of Chinese technology company Huawei. The agreement...

The brewing giant, which recently bought South African spirits producer Distell, plans to build a new brewery and malting plant. Brewing group Heineken announces it will invest ZAR15.5 billion (about $852 million) in South Africa over the next five years. The investments, which were announced at the 5th South Africa Investment Conference (SAIC), include the construction of a new brewery...

The Congolese banking institution has signed a $10.9 million facility with Afreximbank to strengthen the factoring services it offers local SMEs. The African Export-Import Bank (Afreximbank) announced, Tuesday,  a financing agreement with the Postal Bank of Congo (BPC). Under that agreement, it will provide a €10 million ( $10.9 million) factoring facility to allow the...

After leading a $100 million fundraising in early April for British payment infrastructure company TerraPay, IFC plans to provide a loan to the company's Mauritian subsidiary to support its business. The International Finance Corporation (IFC) plans to provide a $30 million loan to the Mauritian subsidiary of payments company TerraPay. The financing project was announced on Monday,...

The South African presidency indicates that Japan, which will host the next G7 Summit in May, has decided to invite the African Union rather than individual African countries. The Japanese government has invited the African Union (AU) to the upcoming Summit of the International Group of Seven (G7). This is revealed in a statement published by the South African Presidency on Monday, April...

In 2013, Orange invested in a cable connecting Tunisia and Europe by signing an investment-sharing agreement with Ooredoo.   Last week, French telecom operator Orange announced it would build a subsea cable linking the cities of Bizerte in Tunisia and Marseille in France. The new 1,050 km long infrastructure will provide an additional route of several fiber pairs with a capacity of 20...

According to the Ministry of Finance, eased inflationary pressures will contribute to the achievement of the 5.3 percent growth target for the 2022/2023 fiscal year.   Uganda's economy grew by 6.8% in the first half of the 2022/23 (July 1-June 30) fiscal year, according to a release published by the Ministry of Finance today. The performance is up from the 3.7% achieved during the...

South Africa hosted its first investment conference from October 25 to 27, 2018. At the time, Vodacom committed to investing ZAR50 billion over five years to upgrade and expand its network infrastructure in the country. Pan-African telecoms company Vodacom Group announced on Friday (April 14) its commitment to investing ZAR60 billion ($3.3 billion) in its South African operations over the next...