The African Development Bank Group is pleased to announce the appointment of Ms. Yacine FAL, currently Director General, Cabinet Office of the President, as the Acting Vice President, Regional Development, Integration and Business Delivery of the African Development Bank Group. Her appointment is effective from 17 December, 2021. In her current position as Director General, Ms. Fal oversees the...

The Board of Directors of the African Development Bank Group has approved a $1.5 million grant to assess policy gaps in the digital trade and e-commerce ecosystems in 10 countries in Africa. The funds, sourced from the African Development Fund, the Bank’s concessional window, will go to the Smart Africa Alliance, an alliance of 32 African countries, international organisations and global...

Women-focused PE fund manager Alitheia IDF announced it has raised $100 mln as part of the final closing of its fund. It thus becomes “the largest gender-lens private equity fund by value in Africa,” according to its management team. “Globally, women have tremendous purchasing power as consumers and controllers of household economics. In the same vein, women entrepreneurs have a...

PE firm Amethis announced today it has sold the 33.77% stake it holds in Velogic, a Mauritius-based logistics company active in the Indian Ocean. After 8 years, Amethis exits Velogic for 790 million Mauritian rupees, or about $18 million, according to the available information. The operation is achieved through the listing of Velogic on the developing companies segment of the Stock Exchange...

The Telecom regulator in Guinea announced new measures to reorganize the e-payment sector. The decision follows the adoption last December 9 of a new law on e-transaction in the country. Arpt established several specifications to prevent abuse and defined a guideline for the sector’s players. They include providers of mobile money solutions, mobile banking, electronic payments, electronic...

Bolloré Logistics announces the launch of SEAalternative, a new offer to reduce CO2 emissions from maritime transport through the use of alternative fuels such as LNG (Liquefied Natural Gas), biogas and Biofuel. This new solution is for one-off and regular shipments across all geographical areas. Bolloré Logistics works closely with shipping companies to support customers wishing to...

Creating a digital currency could save African countries the money they use to pay foreign banknote printers. But there are many challenges to this strategy that needs to be understood, according to Raymond Gilpin, Chief Economist and Head of Strategy, Analysis and Research at UNDP Africa. He said this on the sidelines of the 16th edition of the African Economic Conference held in early December...

Ethiopian President Sahle-Work Zewde met with African Development Bank President Dr Akinwumi A. Adesina while on a working visit to Côte d’Ivoire. Meeting Thursday at the Bank’s headquarters in Abidjan, they discussed Ethiopia’s current and post-Covid-19 development priorities. Describing the African Development Bank as Ethiopia’s development partner of choice, President Zewde...

In Senegal, Sonatel has covered 89% of the population with its 4G network. Currently, the company is seeking to move to 5G. Under this plan, it has recently conducted a second test of its 5G network in the town of Saly, and validated the compatibility of several categories of equipment with the technology. More importantly, the telco confirmed its ability to offer ultra-high-speed services to its...

The Government of Benin plans to mobilize a little more than $20.5 billion over the next five years to finance its development program. The decision was made public following the Council of Ministers held yesterday. The Government Action Program (PAG) 2021-26 aims to boost the country's economic and social transformation. It builds on three areas, including strengthening democracy, the rule...