Tanzania and Uganda are already collaborating in many fields but they want to further improve their bilateral relationship. The opportunity was presented by a two-day visit carried out by Samia Suluhu Hassan, President of Tanzania, to Uganda last May 10-11.   Uganda and Tanzania recently signed two memoranda of understanding in the fields of energy development and defense and security...

In Africa, rural zones are poorly covered by telecom infrastructures despite their crucial role in successful digital transformations. VANU and Loofca Ltd want to provide operators with the infrastructures required to offer their services to residents of those zones.  Vanu Wireless Nigeria Limited -a subsidiary of U.S. firm Vanu Inc.- and Loofca International Limited signed a partnership...

Kuramo Capital is committing funds to  Uhuru Growth I, one year after its first commitment. This time, the fund wants to finance high-growth SMEs in West Africa. Investment management firm Kuramo Capital announced, Saturday (May 7), a US$10 million commitment to Uhuru Growth Fund I (“UGF”), a private equity targeting high-growth companies in West Africa.   The investment will...

In July 2021, the IMF approved a US$1.5 billion financing for DRC in the framework of an extended credit facility. Following the second review of the program, the institution forecasts more sustained economic growth in the country. DRC’s 2022 economic growth could be more sustained than expected, according to the International Monetary Fund (IMF). In a release dated May 9, the Bretton Woods...

Ethiopian authorities recently opened the national telecom market to competition. At the same time, incumbent operator Ethio Telecom is taking action to improve its market positioning.  In Ethiopia, incumbent telecom operator Ethio Telecom launched a fifth-generation (5G) cell phone service in Addis Ababa, on Monday, May 9. To launch the service, the operator relied on the technical...

The acquisition is the first investment made by Amethis and the EBRD in Egypt’s non-banking financial sector. As for SPE Capital, it is its second commitment to the North African country.   Investment fund managers Amethis and SPE capital as well as the European Bank for Reconstruction and Development (EBRD) recently acquired a majority stake in Egyptian non-banking financial...

Within just 100 years, Côte d'Ivoire lost nearly 82% of its forest cover. From 16 million hectares in 1900, the country had only 2.9 million hectares in 2021. During the ongoing COP15, President  Alassane Ouattara announced a program to increase the cover to 5.9 million hectares by 2030.  Côte d’Ivoire currently seeks US$1.1 billion to fund its reforestation program. The...

Last week, Nigeria's telecom operators proposed a 40 percent increase in telecom service rates to offset their rising operating costs. However, while acknowledging that there could be justifiable reasons for it, the NCC is currently opposed to it.  The Nigerian Communications Commission (NCC) recently rejected the proposed 40% increase in telecom tariff proposed by operators. In a release...

During the COP14 in India, in 2019, countries renewed their commitment to achieving land degradation neutrality by 2030. Three years later, they are meeting again to accelerate the process.  Today, Monday, May 9, the fifteenth session of the Conference of the Parties (COP15) of the United Nations Convention to Combat Desertification (UNCCD) was officially kicked off in Abidjan, Côte...

Sanlam announced the deal seven months ago. According to the largest insurance company in Africa, all the regulatory approvals were obtained.  Sanlam, Africa’s largest insurance company, announced Monday, May 9, the completion of its divestment from three UK-based businesses. They are notably Sanlam Life and Pensions UK Limited, Sanlam Private Investments Limited, and Sanlam Wealth...