In the DRC, demand for telecom services has been rising unabatedly since 2020. Operators are therefore upping investments to meet the demand and become more competitive.  Africell SA will need more frequency spectrum to improve its network coverage in the Democratic Republic of Congo (DRC). The issue was raised by Peter Pham, a member of Africell SA’s board of directors, during a meeting...

The IT equipment distributor plans to get listed on the Casablanca stock exchange.  Its shares will be admitted for listing on the alternative market, "Alternatif A", created for SMEs. Moroccan IT equipment distributor Disty Technologies currently plans to get listed on the local stock exchange. Its initial public offering is expected for Wednesday, July 20.  Overall, the company...

The DRC's economic growth has increased from 1.7% in 2020 to 5.7% in 2021. The expansion was driven by mining and the revival of non-extractive activities. To improve its economic resilience, the country is implementing a program supervised by the IMF.   The International Monetary Fund (IMF) recently approved the immediate disbursement of about US$203 million to the Democratic Republic...

The African mobile money market is growing rapidly, driven in part by the accelerating digital transformation across the continent. As of December 2021, Uganda had a dozen licensed non-bank payment entities in various categories. Online and mobile payment solutions aggregator Pesapal can now officially provide its mobile payment services in Uganda. The company recently received a payment system...

IFC is partnered with healthcare developer Egyptians for Health Care Services to meet the growing demand for healthcare services in Egypt. The initiative follows a health consulting program launched in 2021. The International Finance Corporation (IFC) will support the construction and operations of a healthcare city (CapitalMed) on the outskirts of Cairo, Egypt. In the release disclosing the...

The price of wheat is rising exponentially due to the global environment marked by the coronavirus pandemic and the war in Ukraine. The situation greatly affects Egyptians since wheat is one of the main foodstuffs in the country.  The World Bank will provide a US$500 million loan to strengthen food security and nutrition in Egypt. The financial support was approved yesterday and revealed in...

The investment is a pre-series A funding aimed at reinforcing Moringa’s training programs and supporting its expansion outside Kenya, its main market.  Proparco recently announced a pre-series A investment of an undisclosed amount in Kenya's software engineering, data science, and soft skills training platform, Moringa. The funding will support the startup's expansion outside Kenya and...

In its recent report on the Zimbabwean telecom market, BuddeComm indicated that the country’s weak economy has impacted sectoral performance in 2021. That sluggish trend is not yet over.  In Zimbabwe, the current economic crisis is weighing on the telecom market. In a recent statement, state-owned operator TelOne revealed it was struggling to keep its head above water in the economic...

Over the past four years, the Horn of Africa has been confronted with severe drought, with disastrous consequences on food security. According to the United Nations, at least 16.7 million people are food insecure in the region.   The Food and Agriculture Organization of the United Nations (FAO) needs 172 million dollars to help the Horn of Africa address the fast-approaching...

In Senegal, economic recovery is still threatened by risks such as inflation, regional insecurity, Covid-19, and climate change.  To avert some of those risks, authorities, and development partners are implementing various programs.   The West African Development Bank (BOAD) will finance two projects, to the tune of US$64.5 million, in Senegal. According to a BOAD press...