MauBank Holdings Ltd – MBH (the “Seller”) has decided to proceed, through an international tender, with the implementation of a divestment program which entails the disposal of its shares from its subsidiaries comprising MauBank Ltd, MauBank Investment Ltd and MauFactoring Ltd. For this purpose, a consortium composed of Priscus Finance, Gibraltar Advisory and VERDE is acting as the...

The Global Fund estimates that US$59 billion is needed to eradicate endemic diseases like AIDS, tuberculosis, and malaria. For its seventh replenishment, it expects US18 billion, but it has already received some US$14 billion in pledges.  The Global Fund to Fight AIDS, Tuberculosis and Malaria announces US$14.25 billion received in pledges to fight the three endemic diseases over the next...

The Board of Directors of the African Development Bank Group has approved a $20 million concessional investment to support the second phase of the Covid-19 Off-Grid Recovery Platform (CRP). The CRP is a blended finance initiative to unlock private capital for energy access companies to mitigate the negative impacts of the pandemic while advancing access to clean electricity and ensuring a...

In Nigeria, public debt is stable and below the government-set threshold of 40% of GDP. However, the disruption of oil production is pushing the authorities to borrow more funds to offset the rising budget deficit. Nigeria’s public debt rose to US$103.3 billion in Q2-2022, according to a report released by the debt management office DMO, yesterday.  Although it is up from the US$100...

Since 2020, South Sudanese authorities, who are well aware that there could be no sustainable digital economy without access to quality and affordable internet, are taking action to consolidate the country’s data capabilities.  South Sudan and Djibouti announced Monday (September 19), a memorandum of understanding for fiber optic interconnection. Under the agreement, the ultra-high-speed...

With barely two months to go before the UN Climate Change Conference (COP27) in Egypt, Africa and other developing parts of the world that bear the severest brunt of climate change are warning against turning it into a mere talking shop of promises. African Development Bank Group President Dr. Akinwumi Adesina and speakers at the 2nd ministerial meeting on climate and development held on the...

The African Domestic Bond Fund (ADBF), an exchange-traded fund, has been listed in the local Pula currency on the Botswana Stock Exchange (BSE). The listing, on 15 September 2022, follows the Fund’s primary US dollar listing on the Mauritius Stock Exchange in 2018. The Pula-denominated listing will offer investors an innovative tool to gain exposure to African local currency fixed income. ADBF...

The situation baffled economic agents because the central bank data is reassuring as far as the country’s foreign exchange reserves are concerned. Nevertheless, supply is down year-on-year and market participants anticipate a rise in demand.  In Morocco, the bid-ask spreads practiced by banks are rising, according to local media outlets. Media 24 reveals that the prices offered in the...

On the sidelines of the 2022 edition of Africa Climate Week, a session titled Limiting Loss and Damage through Enhanced Adaptation Action in Africa featured vibrant and timely discussion of an aspect of climate change that typically receives little attention: capturing and assessing the costs and damages associated with climate change.    The African Development Bank and Germany’s...

Africa, which is more than ever seen as a land of opportunities, has attracted a growing number of investors over the recent years with rising commitments to startups active on the continent. According to a report, only a minority of the startups that capture those investments are led by Africans.  In August 2022, business intelligence consultancy Songhai Advisory and EchoVC published a...