A few years ago, Nigeria initiated an about 40-year energy transition program to achieve the United Nations Sustainable Development Goals. To implement that program, it is supported by several partners.    France, through the French Development Agency (AFD),  announced Friday (August 26),  a more than US$101.8 million financing package to support Nigeria’s climate...

Several investigations show that in Eastern DRC, the proceeds of illegal sales of strategic minerals (coltan, tin, tantalum, tungsten) finance armed groups. Therefore, to put an end to the phenomenon, buyers (tech giants notably) need to get more involved.  During the TICAD 8, held on August 27-28 in Tunisia,  the Democratic Republic of Congo’s Prime Minister, Jean-Michel Sama...

Once approved by shareholders, Walmart's bid is expected to give new impetus to the restructuring plan of loss-making retailer Massmart. U.S. retail giant Walmart recently offered ZAR6.4 billion (US$377.6 million) to increase its capital ownership to 100 percent in South African retailer Massmart.   Walmart offered ZAR62 per outstanding share to acquire a 47% stake currently...

With the recent acceleration of digital transformation, the contribution of digital sectors to national economies is growing in Africa. In Nigeria, the various policies and initiatives deployed have accelerated the development of the ICT sector to complement declining oil revenues. The information and communication technology (ICT) sector contributed 18.44 percent to Nigeria's real gross...

Banks operating in the WAEMU region posted record performance for their 2021 operations. However, the IMF reminds that there are unaccounted-for risks that could re-emerge at any time.  In 2021, banks operating in the WAEMU region recorded a 68% year-on-year growth in their net earnings, to a record XOF799 (US$1.21 billion). Despite this performance, they must urgently increase their...

The African Internet market is growing rapidly, driven in particular by the ongoing digital transformation. The growth is attracting investment from multinationals.   Amsterdam Internet Exchange (AMS-IX) announced, Tuesday (August 23), a memorandum of understanding with Nigerian firm MainData Nigeria Limited (MDXi) to operate and develop Internet exchange services across Africa. Under...

In 2014, Mozambique announced a bus rapid transit project that would improve mobility in Maputo. However, the project was facing funding issues, during which the World Bank’s disbursement may end.   The World Bank, through the International Development Association (IDA), approved a US$250 million disbursement to improve mobility in Maputo, the Mozambican capital. The Bretton Woods...

The performance was driven by interest and non-interest income as well as its digital services. Kenyan financial group KCB Group Plc posted Ksh19.6 billion (US$163.4 million) of net earnings for H1-2022. The performance is up by 28.4% compared to its result during the same period last year.  According to the financial group, the performance was driven by an “ improvement in both the...

Currently, MTN and Mafab are the only operators with a 5G license in Nigeria. However, Mafab is yet to get its unified access service license. So, in the meantime, MTN will be able to comfortably establish itself in this market segment.  Telecom operator MTN Nigeria Plc announced, Wednesday (August 24), the launch of a 5G pilot launch in the country. The test phase was launched in...

African countries import 97% of the pharmaceutical products they use. In recent years, several projects have been launched to increase the percentage of locally-produced drugs in their consumption.   Burkina Faso inaugurated, Monday (August 23),  Propham, its first generic drug manufacturing plant.  The plant is the result of a private initiative by Burkinabe pharmacists led...