Speaking at the US-Africa summit in Washington, the Cameroonian president defended the construction, with partners, of an African capital market in order to gradually move away from Official Development Assistance. The official development assistance, on which Africa currently depends, no longer meets the continent's financing needs, President Paul Biya defended during the ongoing US-AFrica...

In Africa, Rwanda is the first country to benefit from the new Resilience and Sustainability Fund launched by the IMF a few months ago to support the fight against climate change and the preparation for future pandemics. Rwanda will receive US$319 million from the International Monetary Fund (IMF) under a new aid program, the fund announced in a release dated Monday, December...

Bolloré Africa Logistics and the Autonomous Port of Douala (PAD) signed the concession agreement for the Port of Douala Timber Terminal (TBPD) on Friday 10 December 2022 in Douala. This new body, which is taking over the assets of the Société d'Exploitation des Parcs à Bois du Cameroun (SEPBC), will be in charge of developing the activities of the timber terminal in the port of...

The Board of Directors of the African Development Bank Group on 9 December 2022 in Abidjan approved $73.81 million to finance the Sudan Emergency Wheat Production Project under the Bank’s African Emergency Food Production Facility. Agriculture is the backbone of the Sudanese economy, accounting for 60% of total national exports and generating a third of its gross domestic product. It...

Corporate Council on Africa is pleased to announce that in June 2023, the Government of the Republic of Botswana will be the national host of Corporate Council on Africa’s 15th U.S.-Africa Business Summit (USABS). “Botswana welcomes the unique opportunity afforded by hosting Corporate Council on Africa’s 2023 U.S.-Africa Business Summit to capitalize on and sustain momentum from the...

Vodafone Group Plc is trying to exit its Egyptian subsidiary since 2020. After the failure of its negotiations with Saudi group STC, it turned to its African subsidiary Vodacom.  South African telecommunications company Vodacom Group finalized, Thursday (December 8), the acquisition of a 55% stake in Vodafone Egypt. The over-the-counter transaction (on the Egyptian Stock Exchange) saw...

UN forecasts show that by 2023, the number of food-insecure populations could rise in Central and West Africa, which face tense security and food situations if actors fail to take action. Per its estimate, nine million children are at risk.  The number of hungry people in Central and West Africa could rise to 48 million in 2023, a recent World Food Program release...

One of the promises of financial investments is to profitably roam through economic cycles.  However, on the West African stock market, BRVM, this may be an unfulfilled promise in 2022 with stocks losing value and earnings growing slower than inflation. Friday, December 9, 2022, data shows that this year, the WAEMU stock market (BRVM) has been unable to protect its investors against the...

The 17th African Economic Conference ended on Sunday with a charge to the development community and governments to take decisive actions to address climate change. The African Development Bank, United Nations Economic Community for Africa, and United Nations Development Programme, the conference hosts, called on participants to walk the talk by producing concrete solutions for climate-smart...

The 2022 Africa Visa Openness Index (AVOI) report shows African countries making progress in their freedom of travel policies, most of which had been severely curtailed by the Covid-19 crisis. The annual publication, prepared by the African Development Bank Group in collaboration with the African Union Commission, is now in its 7th edition and was launched on Sunday on the sidelines of the 2022...