This credit facility will strengthen the partnership between Proparco and FMO and their long-standing client, NMB Bank, which plans to increase its lending to the private sector and women-owned businesses. NMB Bank Tanzania, one of the largest banks in Tanzania, will receive a $125 million syndicated loan from Proparco and Dutch development finance bank FMO. Of the total amount, Proparco...

Last October, telecom operator Celtiis entered the Beninese telecom market, which was controlled by MTN Benin and Moov Africa Benin. To establish itself in this market, the newcomer is basing its strategy on technological innovations.  Mobile operator Celtiis, a subsidiary of state firm Société béninoise d'infrastructures numériques (SBIN), is preparing to deploy fifth-generation (5G)...

Côte d'Ivoire wants to reduce its dependence on foreign countries for its supply of animal proteins. To this end, it is multiplying initiatives to strengthen the livestock, fishing, and aquaculture sectors.  Côte d'Ivoire plans to mobilize more than $1.6 billion to finance its National Policy for the Development of Livestock, Fisheries, and Aquaculture (Ponadepa 2022-2026), the...

A law effective since 2008 requires foreign companies operating in the Kenyan ICT sector to sell at least 20% of their capital to local investors. Airtel Kenya has been exempted from this rule since 2013 but, things are about to change.  Airtel Networks Kenya Ltd is considering an IPO on the Nairobi Stock Exchange (NSE) by March 2024. According to Segun Ogunsanya (pictured), CEO of Airtel...

The leading pharmaceutical company Laprophan is set to receive an investment of approximately $71.9 million for a minority stake in its capital. The transaction led by Mediterrania Capital Partners is subject to the usual regulatory approvals. For the first time since its creation some 70 years ago, family-owned pharmaceutical company Laprophan will open its capital to foreign investors....

Angola's heavy dependence on oil has weakened the economy in recent years. To boost growth, the government has embarked on an IMF-supported economic program. For the Bretton Woods institution, the program is on track despite persisting risks.  In Angola, GDP growth will continue this year, and inflation will decline, according to a release published by the IMF last Thursday. According to...

The funding committed by the British International Investment (BII) is the latter's first commitment that will directly benefit the Sudanese population. UK development finance institution British International Investment (BII) announced, Wednesday, it committed $50 million to support food availability in Sudan. The funds will support the acquisition of 280,000 tons of wheat, through the...

For years now, the Angolan telecom market has been dominated by Unitel, which mostly profited from the uncompetitiveness of Movicel which has been losing ground since 2019.  However, the introduction of new the entrant Africell (April 2022) in the market is changing the structure. Africell is steadily growing in the Angolan telecom market at the expense of its two competitors, Unitel and...

The number of illegal migrants is rising in Tunisia, especially in flourishing, tourist, industrial, and farming areas. To reduce that number, the government plans to introduce numerous measures and actions. The Tunisian government is moving to make life hard for illegal African migrants living on its soil. In a statement published after the national security council meeting last Wednesday,...

This success confirms the company's strategy of internationalization, which enables it to participate in developing the 6th largest high-speed rail network in the world. NGE, with its rail expertise subsidiary TSO, has signed a contract to build 330km of high-speed line in Egypt. This new contract reinforces the French Group's position as a key player in the construction of international...