Eight months after it raised $6 million, Africa-focused interactive games and content publisher Carry1st has secured additional investment to support its expansion across the continent. South Africa and New York-based mobile games publisher Carry1st has raised $20 million in a deal led by U.S. VC Andreessen Horowitz (a16z), US rapper Nas (pictured), the founders of Nigerian payment...

A few days after selling part of the shares of its subsidiary Centum Real Estate, the investment group Centum is mulling over a similar deal for its land development unit. The deal is expected to close in Q2 2022. Investment group Centum has begun talks with investors to sell part of the shares it holds in Two Rivers Development Limited (TRDL). Businessdaily.com reported that Centum MD...

Despite the ongoing pressure on Mali and the relations with its long-term partners, the country still receives aid. A few days after Sweden announced the withdrawal of its soldiers from the Takuba force, Denmark sent backup to Mali. Denmark announced it has sent about a hundred soldiers and surgeons to Mali. The information was made public by the Danish defense ministry last January 18. The 91...

World trade suffered a severe blow during the Covid-19 period with a historic low in foreign direct investment flows. The year 2021 came with an optimistic outlook and a strong increase in FDI flows in Africa, mainly in the sub-Saharan part. However, risks remain, according to the UNCTAD. Foreign Direct Investment (FDI) flows to Africa grew by 147% in 2021, the United Nations Conference on Trade...

The Ivorian government announced it has set up a digital tax control system. Finalized on January 1, this tool was presented to the private sector this week. The system aims to measure the level of tax compliance. It will allow tax authorities to optimize tax control based on objective risk analysis criteria and ensure effective traceability of tax audits at the hierarchical level. The Ivorian...

For 2021, the High Commission for Planning (HCP) in Morocco expects the economy to recover to 7.2% after a contraction of 6.3% a year before. Overall, the country’s macroeconomic indicators improved between 2020 and 2021.  HCP reports that the budget gap reached 6.5% in 2021, from 7.6% in 2020, and the overall debt ratio stood at 90.3% last year, against 92.5% a year earlier. The...

The Nigerian restaurant management platform Orda announced yesterday it has raised $1.1 million in pre-seed funding to support its business. The fundraising was led by LoftyInc Capital and backed by a group of institutional and angel investors. “We loved investing in Orda because it is building the core digital infrastructure for restaurants across Africa. The team has done the hard work...

Banking activity in Côte d’Ivoire grew by 15% in 2021 with a total balance sheet at CFA16,983 billion ($29.3 billion), against CFACFA14,727 billion ($25.4 billion) in 2020. These figures were reported by Finance Minister Adama Coulibaly in a speech delivered at the decoration ceremony of members of the Professional Association of Banks and Financial Institutions of Côte d'Ivoire...

The International Monetary Fund (IMF) expects Chad’s real GDP to contract by 1.1% in 2021. This is the conclusion of a mission conducted between January 12-18, 2022 in the country. “Chad’s macroeconomic developments have been adversely impacted by a series of adverse and long-lasting shocks. These include the COVID-19 pandemic, oil price volatility and a significant deterioration in the...

Over the past decade, the Ivorian government has tripled its state budget from $5.3 billion to more than $17.1 billion between 2011 and 2022. In a statement issued Tuesday, the government says 36.6% of the 2022 state budget will go for investment while 28.4% will be used for staff expenditures, 14.3% for public debt, 10.7% for the acquisition of goods and services, and 10.1% for...