Telco Safaricom announced it is negotiating an infrastructure sharing agreement with the incumbent operator Ethio Telecom in Ethiopia. Anwar Soussa, MD of Safaricom Ethiopia, said the two parties are currently working with the Ethiopian Communication Authority (ECA) to work out the details of the partnership. “Ethio-Telecom and ourselves both have a commitment to Digital Transformation Agenda....

The Pan-African banking group Ecobank Transnational Incorporated (ETI) may pay its shareholders dividends for FY2021. The bank’s Board proposed last February 28 that $40 million be paid. Although the amount will not offset five years without dividend, it is sufficient to ensure solid growth for Ecobank shares. $40 million in dividends means $0.16 per share, which is CFA90, N66.6, or...

United States Congressman Gregory Meeks has warned that the United States will only be part of the future if it invests in Africa now. The congressman from New York and Chairman of the US House Foreign Affairs Committee was speaking during a visit to the African Development Bank Group on Saturday, as he and a team of congressional colleagues concluded a tour of four African countries. African...

Africa CDC ranks Uganda among the countries at high risk for covid-19. The institution even advises people who are not up to date with their vaccinations not to travel there. Uganda announced last week it will receive $27 million from the U.S. to accelerate its vaccination campaign against Covid-19. The funding is aimed at immunizing about 12 million people, including nearly six million...

While the majority of climate aid funds are directed towards mitigation, Africa, with less than 4% of global pollution, is struggling to adapt. Faced with the lack of dedicated funding, African countries are trying to finance their adaptations. According to estimates by the Think Tank Power Shift Africa, Ethiopia will spend $6 billion every year to adapt to climate change until 2030. The...

The Africa Investment Forum will host virtual boardroom sessions, a key component of the Africa Investment Forum market days, next month, following a postponement late last year, representatives of the initiative announced on Thursday. The boardrooms will be held virtually from 15th to 17th March this year to discuss and advance deals in the 2021 pipeline. The third edition of the Africa...

Days after selling an agricultural asset in Ghana, investor AgDevCo, which has been active in sub-Saharan Africa since 2009, has secured additional resources to finance agricultural SMEs and agribusiness companies on the continent. Investment firm AgDevCo announced yesterday February 24 it has raised $90 million in equity and debt to finance its expansion in SSA. This capital provided by...

Canada announced an investment of $300 million to finance climate initiatives in sub-Saharan Africa. The funds will be managed by Canadian NGOs active in the region, according to information reported last February 17 by Harjit Sajjan (pictured), Canadian Minister of International Development. “We recognize the particular challenges faced by developing countries, especially those in...

The Global Fund plans to raise $18 billion to pursue the fight against AIDS, tuberculosis, and malaria. The institution announced it in a press release yesterday February 23 as part of the launch of its seventh replenishment campaign. The fight against AIDS, tuberculosis, and malaria has been overshadowed by the fight against Covid-19 over the past two years. "In the face of the...

Moroccan Attijariwafa Bank announced an increase in net profit in 2021. The fourth African bank by market capitalization says it ended 2021 with a consolidated net income of MAD6.2 billion ($653.4 million) and a net income group share of MAD 5.1 billion. The figures are up by 66.2% and 70.5% respectively, compared to 2020. The group attributes this increase to a good operating performance and...