The International Monetary Fund (IMF) says it is satisfied with the economic performance of Senegal, despite the pandemic and the low vaccination rate in the country. “Recent indicators suggest that a strong recovery is underway, driven by industrial production, services, and retail activity. The number of cases of covid-19 remains relatively low, and about 14% of the adult population is...

Nigeria’s ThankUCash announced it has successfully raised $5.3 million to expand in its main market and beyond, mainly in Ghana and Kenya. Before this operation co-led by VCs 500 Global and Unicorn Growth Capital, the multi-merchant rewards platform secured pre-seed funding in February 2021. According to data published by Techcrunch, ThankUCash -a subsidiary of data analytics company...

After 3 consecutive years of decline, the assets of Tunisian funds recorded an increase of 2.7% in 2021, reaching TND4.8 billion (about $1.7 billion). The information was released in a report on the 2021 balance sheet of UCITS -undertakings for collective investment in securities- published on January 9 by investment firm Tera Finances. The document attributes the improvement to the...

West African regional blocs -WAEMU and ECOWAS- announced tightened measures against Bamako. They decided so to pressure the Malian Junta into holding elections next month. Gathered in Accra yesterday, the West African leaders announced, with immediate effect, the freezing of Malian state assets within the regional central bank and all the community’s commercial banks. ECOWAS will close both...

The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, has approved a $1 million grant to facilitate Botswana’s transition to clean energy . The technical assistance project supports the Government of Botswana in closing critical gaps in policy, regulatory and legal frameworks, which were identified at the Africa Energy Market Place (AEMP 2019). These...

Congo Terminal, a subsidiary of Bolloré Ports, exceeded the volume of one million shipping containers handled in 2021, having managed 1,003,734 TEUs over the course of the year. This new level of performance reflects efforts Bolloré Ports has made to increase traffic from 200,000 to 1,000,000 TEUs, in line with its commitments made as part of the plan to modernise the Port of...

The Board of Directors of the African Development Bank Group has approved a $47.09 million grant for the first phase of Mozambique’s Pemba-Lichinga Integrated Development Corridor, a Special Agro-Industrial Processing Zone. The grant, from the African Development Fund, will help improve agricultural productivity and agribusiness development in the Niassa province by advancing...

South African Invicta Holdings announced it has acquired KMP Holdings Limited, a leading independent supplier of aftermarket heavy-duty diesel engine parts for industrial and agricultural machinery. The buyer spent R269.3 million ($16.9 million) for this transaction, which aligns with its African expansion strategy. “Part of Invicta’s strategic focus is to diversify into new geographical...

Conakry Terminal, a subsidiary of Bolloré Ports and operator of the container terminal of the Autonomous Port of Conakry, has been granted the Green Terminal label following the audit conducted on 12 November 2021 by Bureau Veritas. This label rewards the efforts made by the company to reduce the impact of its activities on the environment by implementing eco-responsible measures. The audit...

The transition government in Mali has set a new deadline to form a civilian-led government. After admitting its inability to hold elections within the initial schedule, the government of Assimi Goïta announced it needs between 6 months to 5 years maximum to get it done. “What we came up with is 5 years […] maximum,” said Abdoulaye Diop when presenting the results of the national meetings...