The Board of Directors of the African Development Fund has approved a $4.3 million grant to support statistics development in Somalia. The Board of the African Development Fund, the concessional window of the African Development Bank Group, approved the grant on 14 February. The Statistics Development Support Project for Somalia will entail providing technical assistance and training staff...

Congo Terminal, a Bolloré Ports subsidiary, continues to upgrade the Port of Pointe-Noire and has just achieved a new milestone with the completion of the extension works of the yard surface area of dock D. The works which began a year ago and had a price tag of 3 billion CFA francs (approximately €5 million), have increased the storage area by 3.5 hectares and will support additional...

The U.S. announced an investment of $39 million to help Ethiopia deal with the ongoing drought episode. The money will be channeled through the U.S. Agency for International Development (USAID), according to a Feb. 14 statement. The investment will be directed towards vulnerable people living in the southern and southeastern parts of the country. It will be used to provide them with school...

Investors reacted well to Axian Telecom's first international bond market transaction in 2022. But compared to 2021, they appear less enthusiastic about telecom operator debt in general. The Pan-African telecom service provider Axian Telecom has just completed successful fundraising on the international bond market, mobilizing $420 million. The operation attracted major institutional...

Amethis has strengthened its portfolio of Ivorian companies by taking a minority stake in the capital of SIBM. The transaction includes an equity contribution and a subscription to convertible bonds. Amethis, a private equity firm and partner of Edmond de Rothschild Private Equity, announced it has finalized a €23 million ($26 million) investment in Société ivoirienne de béton...

Morocco wants to reduce its greenhouse gas emissions by 45.5% by 2030. The country also plans to increase the share of renewable energy to more than 52% by 2025. The European Commission President Ursula von der Leyen (pictured) has announced an investment of €1.6 billion ($1.8 billion) to support the energy and digital transition in Morocco. The project will run over the next five...

The downward trend in democracy worldwide accelerated in 2021. In Africa, restrictions due to covid-19, insecurity, and political tensions were added to a series of coups in the sub-Saharan region. The Economist Intelligence Unit (EIU) has just published its 2021 report on global democracy, which ranks countries worldwide based on the democracy level. The ranking features 50 African countries...

Kenya, like virtually every country in the world, is being hit hard by climate change. To mitigate the effects of a severe drought on its agricultural sector, the country is now focusing on implementing green initiatives. Partners are supporting this strategy. The U.K. announced the disbursement of $41.3 million to help Kenya rebuild its forests and achieve a full transition to renewable...

The International Finance Corporation (IFC) announced yesterday it has completed a $10 million equity investment in South African Knife Capital Fund III, dedicated to financing high-growth and expansion-stage tech companies. Unlike the first two vehicles launched by Knife Capital in 2016 and 2010, respectively, this vehicle mainly targets Series B investments. It aims to reach $50...

AXIAN Telecom, a leading pan-African provider of telecommunications, mobile money services and digital infrastructure has successfully priced its US$420 million Senior Notes, due in 2027. The successful pricing of the bond, which launched yesterday on Wednesday 9th February 2022, was supported by anchor orders from development finance institutions CDC, DEG, EAIF and IFC. From initial price...