Despite an expected 3% growth for 2023, Morocco’s economy is still facing supply shocks that are causing inflation. On Monday, March 6, the IMF board met to discuss financial support for the Kingdom, which has consistently demonstrated strong economic fundamentals. Morocco has applied for $3.7 billion in special drawing rights (SDRs) equivalent to $5 billion in financing from the...

In application of its 2021-2024 poverty reduction strategy “New Direction”, Sierra Leone is implementing several measures to develop all sectors of the country's economy. One of the sectors benefiting from these reforms is civil aviation, which authorities want to strengthen and transform.   Sierra Leonne has inaugurated a new airport terminal, the Presidency announced last Sunday....

The acquisition project will be completed only after the approval of the Kenyan central bank. The Competition Authority of Kenya (CAK) approved, last Thursday, the Somali Islamic bank Premier Bank Limited (PBL)’s plan to acquire 62.5% of the Kenyan Islamic bank First Community Bank (FCB).  “ […]it is notified for general information that in the exercise of the powers conferred...

More than 75% of the DRC's population does not have access to mobile Internet services. The government, international partners, and private companies are working to bridge this digital divide in a context marked by accelerated digital transformation. The European Investment Bank (EIB) announced, Saturday, a warrant agreement with the wholesale telecommunications infrastructure provider...

Gender in Focus: Senegalese “Agripreneur” and African Development Bank AgriPitch Competition winner says digital marketing key to luxury tea startup success Senegalese businesswoman Adja Sembene Fall said she had no choice but to launch her start-up business online because her new Contanna fair-trade tea company only had $200 to its name. “Due to [lack of] finance, it was not...

The Covid-19 pandemic and the containment measures it called for have strained insurance systems in several African countries. The settlement of business interruption claims remains a financial audit challenge in the industry.   In its FY2022 financial results, South African insurance group Santam revealed that its net exposure to Covid-19 claims settlement risks was reassessed at ZAR1.9...

MTN Ghana is the leader of the Ghanaian telecom market with a 65 percent market share, according to the latest data from the National Communications Authority (NCA). At the end of the 2021 financial year, the operator’s revenue was around $604.5 million.   Ghanaian telecoms operator Scancom Plc (MTN Ghana) recorded a total revenue of 9.91 billion cedis ($776.5 million) in the 2022...

To cushion the impacts of various global shocks on its economy, Egypt has implemented several reforms in areas such as industry, food self-sufficiency, and investment. However, further measures are needed to strengthen economic resilience. Egyptian President Abdel Fattah al-Sissi (photo) has taken five new measures to improve people's living conditions, the presidency announced last...

One month after the WAEMU adopted a regulation aimed at modulating Islamic securities, the local financial markets authority (AMF-UMOA) signed an instruction setting out the guidelines for Islamic mutual funds’ operations. In an instruction effective since February 20, 2023, the West African financial markets authority AMF-UMOA set the guidelines for the creation and operation of Islamic...

COVID-19, floods, and the war in Ukraine have harmed South Sudan, whose growth dropped from 12.9% to -4.9% between FY 2019/20 and FY 2020/21. The numerous economic reforms implemented by the authorities are gradually reviving the economy. South Sudan is expected to record positive growth in FY 2023/24 after the negative figures it recorded in the previous three fiscal years. According to an IMF...