In May 2022, the IMF approved an EFC arrangement for Mozambique. Last week, a team from the institution visited the country for the first review under that arrangement.  Mozambique has reached a preliminary agreement with the International Monetary Fund (IMF) for the disbursement of a new tranche of the US$456 million financing obtained under an Extended Credit Facility (ECF) agreement....

Since 2020, digital transformation in Africa, which was once neglected, has proven that ultra-broadband adoption is growing faster than forecasted.  In sub-Saharan Africa, 5G adoption is growing rapidly, since 2018. Data compiled by Ecofin Agency show that as of September 15, 2022, twelve telecom operators in ten markets are already marketing mobile services backed by ultra-high-speed...

Bolloré Railways, through its two subsidiaries Sitarail and Camrail, will be taking part in the InnoTrans trade fair from 20 to 23 September 2022 at the Berlin exhibition centre. The company will use this opportunity to meet with global players in the railway industry and move its plans forward to modernise the railway lines it operates. Sitarail, a bi-national company operating between Côte...

5G adoption is steadily rising in Africa. The new technology is expected to not only provide ultra-fast connection speeds but also accelerate digital transformation on the continent. Mobile operator MTN Nigeria officially launched commercial fifth-generation (5G) mobile technology in Nigeria on Sunday, September 18. To achieve this technological leap, the company enlisted the technological...

In its fourth private placement funding round, Tanzania's CRDB Bank Group raised $130 million, bringing the total amount already raised from international investors in 2022 to over $280 million. CRDB Tanzania has again attracted the attention of foreign investors this year by raising $130 million in an international syndicated loan transaction arranged by Investec Bank, a South...

On Thursday, September 15, the Tunisian government signed an agreement with trade unionists to increase civil servants’ pay. It is now focused on negotiating a reform program with the IMF.  The Tunisian government expects an agreement with the International Monetary Fund (IMF) by the end of October. According to Government Spokesman Nasreddine Nsibi (photo), Tunisia's file will be...

ARISE Integrated Industrial Platforms (ARISE IIP), developer and operator of world-class industrial ecosystems in Africa, is proud to announce, in partnership with the government of the Democratic Republic of Congo, the signing of a framework agreement for the development of the Kin-Malebo industrial zone. This ambitious agreement will contribute to the industrialization of strategic sectors in...

Young entrepreneurs between the ages of 18 and 35 are invited to submit their business plans through the official submission portal. Twenty winners will each be awarded $100,000 and will receive capacity-building training, mentorship and coaching.  The Global Center on Adaptation, African Development Bank and Climate Investment Funds have launched a call for applications for the second...

Banks operating in DR Congo are required to increase their minimum capital from US$30 million currently, to US$50 million, according to a recently released International Monetary Fund assessment report. The capital increase is expected to be carried out following some regulatory milestones.  Banks operating in the Democratic Republic of Congo are required to have a minimum capital of US$35...

Cameroon’s Minister of Agriculture and Rural Development Gabriel Mbairobe and the General Manager of the Commercial Bank of Cameroon, Léandre Djummo, have signed, on September 8, 2022, in Yaoundé, an agreement for the establishment of an Agricultural Sector Development Fund. The African Development Bank’s Director General for Central Africa, Serge N'Guessan, also attended the signing. The...