Three years earlier, the bank had already secured a €25 mln loan from the same institution to support its small business lending activity. Last Friday, investment fund Sanad, which focuses on financing micro, small and medium-sized enterprises (MSMEs) in North Africa and some sub-Saharan African countries, granted a €25 million (US$27.2 million) credit line to Moroccan financial...

CFAO is expanding distribution for luxury automaker Mercedes‑Benz in four more African countries: Cameroon, Côte d’Ivoire, Ghana and Senegal. These four markets add to the existing CFAO Mobility network of Mercedes-Benz dealerships, established over the course of a 23-year partnership with the prestigious German brand, which is cementing its position as a leading manufacturer with a pivotal...

On Friday 20 January 2023, the Africa Tax Desk of audit group Grant Thornton organized a conference, in Côte d'Ivoire, detailing what to expect with the implementation of the Base Erosion and Profit Shifting multilateral instruments (MLIs). Participants at the hybrid conference had the opportunity to listen to an OECD expert, Cameroonian and Ivorian tax officials, and Grant Thornton’s...

In 2014, the Sierra Leonean government tried to get support from the World Bank for the implementation of its digital transformation project, but the process was unsuccessful because the international financial institution blamed Freetown for poor resource management.  In Sierra Leone, the Minister of ICT Mohamed Rahman Swarray recently announced that the World Bank would support the...

The performance was supported by a rise in its commission income and revenues from intermediation activities. Attijari Bank Tunisia, the local subsidiary of Moroccan banking group Attijariwafa Bank, recently reported a 9.99% increase in its net banking income (NBI), which rose to TND574.8 million (US$187 million) at the end of 2022. The rise was supported by a 10.16% growth in Attijari's...

According to the United Kingdom, more than 1.2 million children suffer from severe acute malnutrition and nearly 1 million pregnant and lactating women need support for moderate acute malnutrition in Ethiopia.  The UK announced, Friday (Jan 20), a US$20 million support for Ethiopia's drought and conflict-affected areas.  The support will be provided through two funds. ...

With the ongoing digital transformation, African businesses need more internet capacity to support their operations, and local and foreign companies are stepping up investments in building data centers to better meet the growing demand on the continent. Africa Data Centres (ADC) announced, Thursday, it launched the construction of an additional data center in Nairobi, Kenya. The new...

Through its investment branch Sanlam Investments, the insurance company acquired SkipWaste, which then becomes the fourth firm to join its SPE Mid-Market Fund. African insurance giant Sanlam has indirectly acquired a majority stake in SkipWaste, which provides waste management solutions to industrial, commercial, and individual clients. The amount paid for the acquisition and the exact shares...

The company wants to capitalize on the growing demand for the internet that ensued with the accelerating digital transformation at a time when it is yet to impose itself in the South African market. South African open access telecom infrastructure provider Frogfoot is considering an international expansion this year, local media report. It also plans to increase its fiber-to-the-home (FTTH)...

In 2021, the two institutions had granted a US$170 million syndicated loan to Africa Finance Corporation, which is receiving the new loan. French institution Proparco and the German development finance institution DEG recently arranged a €150 million (US$162 million) loan facility for Africa Finance Corporation (AFC). The 10-year syndicated loan will allow AFC, which finances basic...