In October, Tunisia reached a US $1.9 billion agreement with the IMF to support its reform agenda. To secure more funding for the agenda, it is also discussing with other partners, including the Arab Monetary Fund. The Arab Monetary Fund will provide a US$74 million loan to support Tunisia’s budget, local media outlets announced last Friday, citing the Central Bank of Tunisia. The...

Francophone Africa go-to integrated communications agency, Opinion & Public BCW, a subsidiary of THOP The Holding Opinion and Public has appointed Lerato Mpholo as its Managing Director effective since 1 November 2022. From South Africa, Ms Mpholo has been in the public relations and communications industry for 13 years. She has gained much experience working in well-established agencies such...

KEIZAI DOYUKAI, or the Japan Association of Corporate Executives today signed a statement of intent with the African Development Bank Group to foster closer collaboration and to strengthen business ties between Japan and Africa. The signing took place on the sidelines of the Africa Investment Forum Market Days 2022, taking place in Abidjan, Côte d’Ivoire. The DOYUKAI, a private, nonprofit,...

The African continent has enormous potential and remains an attractive destination for investors, despite complex national contexts and geopolitical changes, say experts attending the Africa Investment Forum 2022 Market Days. Africa is facing external shocks that negatively impact its growth and socioeconomic development. The Covid-19 pandemic has compromised the sustained growth that the...

The African Development Bank has signed an agreement with First City Monument Bank (FCMB) for a $50 million line of credit to support access to finance for small and medium-sized and women-empowered enterprises. FCMB will use the line of credit to expand lending activities that will boost the country’s post-pandemic economic recovery and drive more inclusive and climate-resilient growth....

MTN entered the Afghan market in 2006. Currently, it is the leading operator with about 40% of the market, ahead of Etisalat.   MTN Group announced today, an agreement with Lebanese company M1 New Ventures (M1) for the sale of its Afghan subsidiary for US$35 million.  The agreement marks the beginning of the group's exit from the Afghan market where its operations have been hardened,...

The group once again assumed the leadership of the Nigerian financial market with a record trading day on the Lagos stock exchange and a close to US$256 million stock lending operation. The development allows Dangote Group to test investors’ perceptions. On Wednesday, November 2, 2022, Dangote group regained its leadership of the Lagos stock exchange with its subsidiary Dangote Cement...

South Africa has decided to increase the share of renewable energies in its energy mix, to reduce its greenhouse gas emissions. To contribute to the efforts, the World Bank and other partners will disburse US$497 million for the conversion of a coal-fired power plant in Komati. South Africa will receive US$497 million from the World Bank and other partners to finance a renewable energy project,...

Meeting on Tuesday, 18 October 2022, the Board of Directors of the African Development Bank Group approved the mid-term report of the implementation of the Bank’s 2020-2024 Country Strategy Paper (CSP) for Eswatini and the 2022 country portfolio performance.   The review assessed the extent to which the objectives and expected outcomes of the Bank’s strategy and captured lessons learned...

On 2 November 2022, in the presence of the port authorities, Côte d'Ivoire Terminal officially launched the commercial activities of the new container terminal of the port of Abidjan, with the arrival of the CMA CGM ROSSINI vessel, measuring 267 m long and 40 m wide, and transporting 5770 TEU containers. The launch of the activities of the second terminal comes after successful tests in...