“We want to be the adults that children can speak to” Nthombi Pukwana, clinical psychologist, Transnet Phelophepa train. The early morning air is cool and nippy, but already queues are quietly forming along a section of railway track in the small town of Darling, a farming community in the west coast region of Western Cape, South Africa, about 75 km (46.6 mi) from Cape Town. They come...

Over 60% of the Kenyan population lives in poor districts with no access to adequate infrastructure, according to the French Development Agency AFD. To improve their living conditions, since 2010, the government and its development partners are implementing a set of programs that will allow improved access to basic infrastructure. The French Development Agency AFD announced Thursday (January...

The debt securities will help fund local firms outside the banking system. Afrinvest Capital announced, Thursday (January 12), the issuance of up to NGN5 billion (US$11 million) in commercial papers, via its investment bank DLM Capital Group. A commercial paper is a negotiable debt instrument issued in the money market to allow companies to borrow on near-market terms without going through the...

During the period, they raised 37% of the overall VC funding in Africa. Although Nigeria remained the destination of a sizable portion of the funding, other countries like Ghana and Côte d'Ivoire recorded surprisingly strong performance. West African startups raised US$1.8 billion in 2022, according to Africa: The Big Deal. With such performance, West Africa was the leader in terms of funding...

The government was planning to privatize 195 firms between 2019 and 2022 and exit the productive sector. However, the plan was delayed by the coronavirus pandemic and it reduced the number of assets to be sold to 178.  Angola has raised Kz567 billion (US$1.13 billion) by privatizing 96 state firms since 2019, said Secretary of State for Finance and Treasury Ottoniel dos Santos last...

The GSMA estimates that the number of 5G subscribers will exceed 340 million in Africa, by 2030. It also expects the network to revolutionize every economic sector on the continent. 5G will contribute US$26 billion to African economies by 2030, a recent GSMA report estimates. The report explains that 5G networks will bring substantial improvements, compared to other network generations (2G, 3G,...

The levy introduced in March 2022 was supposed to fetch the country over US$900 million. However, the government recently confirmed that the controversial levy did not fetch the expected resources. Today, Wednesday, January 11, 2023, Ghanaian electronic payment service providers have begun implementation of the revised e-levy, following directives from the Ghana Revenue Authority (GRA). The new...

By acquiring InstaDeep, BioNTech wants to integrate artificial intelligence capabilities into its drug discovery, manufacturing, and distribution processes. German biotech group BioNTech announced, Tuesday (January 10), the acquisition of InstaDeep, a London-based Tunisian artificial intelligence firm.  The transaction includes EGP362 million (US$440 million) cash and an undisclosed number...

In December 2022, the country, which is battling a serious economic crisis, decided to temporarily suspend the payment of part of its foreign debts, pending a restructuring agreement with creditors. Last Tuesday, Ghana officially requested a restructuring of its bilateral debts under the G20 Framework, Reuters reported citing sources close to the case. The request aims to include countries like...

Twenty-five youth-led agriculture sector companies from 14 African countries have advanced to the finalist round of the African Development Bank Group’s 2022 AgriPitch Competition. The Bank, in collaboration with the implementing lead Private Equity Support and partner organizations Eldohub and the Private Finance Advisory Network, announced the 25 finalists for the Competition that will...