The Board of Directors of the African Development Bank Group has approved a $10 million Trade Finance Transaction Guarantee (TG) to Banco Fomento de Angola S.A. (BFA). Leveraging BFA’s strategic footprint in Angola, this guarantee will provide support to Small and Medium sized Enterprises, including women-led businesses. The move will facilitate the import and export trade finance...

The Board of Directors of the African Development Bank Group has approved a loan of €39.30 million to the government of Senegal on Friday, 16 December 2022, to implement the first phase of the National Livestock Integrated Development Support Project. The project will support national policy on sanitary and veterinary prophylaxis. It will support the national rollout of five vaccination...

The Board of Directors of the African Development Bank Group on 15 December 2022 in Abidjan approved the Mauritius Country Strategy Paper for 2022-2027 and the implementation of the identified priority development areas. In addition to building economic resilience by improving the business environment and high value-added production, the Bank plans to focus its development efforts on sustainable...

In April 2021, the Cabo Verdean government renewed incumbent operator Cabo Verde Telecom’s concession, giving it more operating power. The operator then embarked on a reorganization process to move into new segments as the traditional business segment was declining.  Cabo Verdean incumbent operator Cabo Verde Telecom (CVTelecom) will merge with its subsidiaries CVMóvel and CVMultimedia...

The dream FTX Group sold to its investors turned to disillusionment with the firm filing for bankruptcy. Up to a few weeks ago, the firm was still attractive to many corporations and individuals, even in Africa, which hosts some of the victims of this new scandal.  Only a few African media outlets have covered the bankruptcy proceedings involving FTX Group, which was one of the most...

The project was validated in 2018. Overall, US$534 million will be contributed for the rehabilitation of the corridor and the improvement of procedures.  Last Wednesday, the USA officialized a US$504 million grant awarded under the Millennium Challenge Compact program to improve efficiency and rehabilitate the Cotonou (Benin)-Niamey (Niger) corridor. The project was approved in September...

The coronavirus pandemic, the war in Ukraine, and climate change have all hampered Africa’s progress toward meeting the Sustainable Development Goals (SDGs). With 2030 less than 8 years away, most African countries are struggling to meet the SDG targets. Without renewed efforts, nearly 492 million Africansill be left in extreme poverty with at least 350 million still in that condition in...

In 2021, African countries monetized only 22 megatons of CO2 equivalent for an estimated US$123 million. For the experts of the Africa Carbon Markets Initiative, this could be multiplied by fourteen.   Africa has the potential to mobilize US$6 billion a year from voluntary carbon markets (VAMs) by 2030 if it can overcome barriers to increasing its supply of carbon credits, according to...

The strong demand for broadband connectivity observed in Africa since 2020 is expected to continue over the next few years. Telecom operators are strengthening their broadband infrastructure to better meet this demand.  Last Tuesday, telecom group MTN announced  that its subsidiaries MTN South Africa and MTN GlobalConnect have landed the 2Africa subsea cable in Yzerfontein and...

Madagascar is currently implementing a digital ID program aimed at providing a digital ID for every citizen. The program is supported by several development partners.  In Madagascar, the government and the IFC will launch a training program to develop digital skills, the IFC announced in a release dated December 13, 2022.   The program targets the youth and public and private...