The partnership will enable MTN Nigeria to accelerate digital inclusion and smartphone penetration in the country. According to data from the Nigeria Communications Commission (NCC), the country had 209.9 million mobile subscribers in August 2022. Telecom operator MTN Nigeria announced, Wednesday,  an agreement with smartphone financing platform Intelligra to allow individuals to purchase...

The Board of Directors of the African Development Bank (AfDB) has approved a grant of a grant of $2.5 million to the Mozambican government to develop renewable energy resources. The grant, from the Sustainable Energy Fund for Africa (SEFA), administered by the Bank, will be used to implement the Mozambique Renewable Energy Integration Program (MREP). "With the support of the Sustainable...

The Board of Directors of the African Development Bank Group on Wednesday, 12 October approved an unfunded $75 million trade finance Risk Participation Agreement facility for FirstRand Bank Limited (FRB). The approved facility will enhance FRB’s ability to underwrite trade finance transactions originating from issuing banks in several countries, including transition states and low-income...

With its proposed plan, Stellantis aims to move quickly towards “highest internal integration.”    The automotive group Stellantis announced, today (October 13), an agreement with the Algerian government for the installation of a Fiat-branded cars production plant in the country. The agreement was signed, in Algiers, during a ceremony chaired by Ahmed Zaghdar, Algerian...

Operators fear that the telecom sector will end up in the same situation as the Nigerian aviation sector, which is currently experiencing a crisis exacerbated by the country's foreign exchange problems.  Access to foreign currencies is difficult for Nigerian telecom operators since January 2022. . This situation, which is slowing down investment in network infrastructure, was decried by...

Côte d’Ivoire wants to take actions to boost economic resilience and households’ purchasing power in 2023 amid rising inflation that is undermining some economic sectors. To this end, the authorities are counting on an increase in spending but also on tightened budget deficit.   Côte d’Ivoire announced a XOF11,494 billion (US$16.9 billion) budget for the 2023 fiscal year. The...

Since the beginning of the Russia-Ukraine war, Africa has been portrayed mainly as a collateral victim of the ongoing conflict. However, recent tours by the involved parties’ senior officials suggest the continent has an important role to play. On October 3, Ukrainian Foreign Minister, Dmytro Kuleba, landed in Senegal for an African tour that was to take him to several countries. Although the...

The partnership is announced in a context marked by low bank loans to the agriculture sector and a Bitcoin craze. It will enable the involved parties to expand their businesses while contributing to the creation of added value in Côte d’Ivoire.  Yellow Card Financial and AgriSmartChain announced, today, a partnership to facilitate agriculture financing in Côte d’Ivoire leveraging...

According to the local telecom regulator, as of June 30, 2022, Côte d'Ivoire had nearly 46.5 million cell phone subscribers. MTN was controlling 34% of the market compared to 44% for Orange, the market leader.  Telecom operator MTN Côte d'Ivoire recently signed a 5-year renewable agreement with Canadian telecom infrastructure provider NuRAN Wireless to expand its network presence in rural...

With its inflation rate reaching 8.4% in September, the WAEMU is facing an unprecedented inflationary spiral, which is still defying government initiatives and BCEAO rate hikes. However, the institution is optimistic that it would slow down in October. Inflation would drop to 8% in October 2022 in the WAEMU region, the central bank BCEAO announces in its latest monthly economic...