Nigeria is the largest telecom market in Africa by the number of subscribers. Its characteristics attracted French telecom group Orange, which began prospecting it, for a possible expansion, in July 2022.  French telecom group Orange has paused plans to expand into the Nigerian market. The decision was disclosed by Jerome Hénique (photo), Orange's general manager for the Middle East and...

Since 2021, telecom operators Moov Africa and Orange have taken several initiatives and actions to overturn a decision by the Bamako Court of Appeal condemning them to pay heavy fines.  The actions notably led to a strike in February 2022.  Telecom operators Moov Africa Malitel and Orange Mali must pay CFAF176 billion ($284.2 million) to the Malian telecom consumers’ association...

The Africa Investment Forum marked International Women’s Day by hosting a special evening session for African women business leaders and innovators under its “Women as investment Champions pillar”. Founded in 2019 by the African Development Bank and seven other founding partners, the Forum is a fully transactional, multi-stakeholder, multi-disciplinary platform dedicated to advancing...

Kenya's largest banking group by assets announced the cut in a context where most local banks are announcing an increase in dividends. The decision suggests a greater consideration of the underlying risks behind its strong accounting performance. Kenya Commercial Bank (KCB), Kenya's largest bank by assets, announced on Wednesday, March 15, a 33% cut in its dividend per share from 3 shillings in...

During his visit to Addis Ababa, US Secretary of State Antony Blinken reaffirmed his country's intention to support peace in Ethiopia, marked in recent years by the war in Tigray. In that regard, for the 2023 fiscal year, Washington plans to increase its humanitarian aid to the country to $780 million. The United States will provide $331 million in additional humanitarian assistance to...

Telecom Egypt is increasing investments to strengthen its telecom network to better meet the demand for high-speed connectivity and remain competitive in the market. The operator recently partnered with Huawei to accelerate its digital transformation.  State-owned operator Telecom Egypt announced on Monday (March 13) that it has signed a partnership agreement with U.S.-based technology...

According to the Economic Commission for Africa, a fairer international capital market and a more efficient carbon market can help reduce vulnerabilities in the continent. Africa needs a fairer and equitable international financial system, Antonio Pedro (photo), acting executive secretary of the Economic Commission for Africa (ECA), said according to an opening statement published by the ECA...

Italian President Sergio Matarella has been on an official visit to Kenya since Monday 13 March. During his stay, the leader intends to give a new impetus to Italian-Kenyan relations, especially by strengthening cooperation with ICT, agribusiness, and biofuel projects. Italy will allocate $107 million to finance projects in Kenya. The plan was announced, Tuesday, during a visit by...

The 6th Mining On Top Africa (MOTA) conference will take place in Paris on July 12th and 13th, 2023, following a short break. The event serves as a strategic forum for leading stakeholders across Europe to connect with mineral and metal exploration companies from Africa, with the goal of driving collaboration and partnerships for sustainable mining across the continent. Many...

Africa's richest man derives most of his fortune from his 86% stake in Dangote Cement Group, which is currently valued at more than $9 billion. Nigerian business mogul Aliko Dangote (photo)’s net worth has moved closer to the $20 billion mark.  According to the latest update of the Bloomberg Billionaires Index on Tuesday 14 March, the business mogul’s net worth has increased...