The African Development Bank held its second virtual business opportunities (BOS) for 2021 from 12-14 October, to provide an overview of its policies, operations, procurement rules and country activities. The event took place over three days to accommodate participants in different time zones, and included a special session on business opportunities in Angola at the request of the Bank’s...

Pan-African fiber broadband connectivity provider Liquid Intelligent Technologies announced yesterday the launch of a new global Internet transit route from Asia to the United States via its East and West African network. This new route was opened with the launch of the optical fiber section connecting the city of Mombassa on the Kenyan coast to the city of Moanda on the coast of the Democratic...

With the creation in 2012 of its national air flag, Côte d'Ivoire harbored the ambition of becoming an air transport hub in West Africa. But this momentum has been weakened by the Covid-19 pandemic in 2020, which is forcing a readjustment of forecasts. The National Civil Aviation Authority of Côte d'Ivoire (Anac) has delivered statistics on the level of activity in 2020. Data reported a...

The Kenyan fintech Asante Financial Services, which provides financial solutions to MSMEs in SSA, announced it has secured $7.5 million to expand across the region. The fundraising was led by Goodwell Investments and saw the participation of Irish family office Forsage Holdings and the Sorenson Impact Foundation. It represents the first tranche of Series A funding, the second tranche of...

Mozambique will benefit from €47 million in funding approved by Spain to accelerate its economic recovery. The financing is part of the new framework cooperation agreement between the two countries until 2024. According to an October 18 statement by the Spanish Embassy in Maputo, €15 million of the total amount will be invested in Cabo Delgado, which will be added to the €11...

The Chadian government reached a new deal with the UN Development Program (UNDP) to continue fighting Malaria on its territory. A total of €71 million will be made available to the country as part of this initiative signed last October 18 under the Global Fund New Funding Model 3 (NFM3).   The project will be led by the Chadian Ministry of Health in collaboration with the UNDP...

The President of the African Development Bank Group, Dr. Akinwumi Adesina, received a high-level Nigerian delegation led by the country's Minister of Agriculture and Rural Development, Dr. Mohammad Mahmood Abubakar on Monday. The meeting follows on the heels of an address by Dr. Adesina last week at a mid-term ministerial retreat presided over by President Muhammadu Buhari. Dr. Adesina and the...

Global Foreign Direct Investments over the first six months of this year reached a total of $852 billion, according to a recent report issued by the UN Conference on Trade and Development. This represents an increase of 78% YoY. While in Europe, FDIs increased by 666% reaching $213 billion over the period under review, the Americas posted an 88% increase for a total of $244...

5G has been attracting interest from Telecom Egypt, Orange, Etisalat Misr, and Vodafone Egypt since 2019. The companies that have already tested the technology are only waiting for practical arrangements from the telecom regulator to begin proper deployment on the local telecom market. The Egyptian government is currently preparing the legal framework for the frequencies and licenses for 5G....

Last June 3, 2020, the United Bank for Africa (UBA) initiated legal action against entities of Credit Suisse over the scandal of misappropriated loans in Mozambique. According to information consulted by Ecofin Agency, the Lagos-based banking group had participated in the transaction of a syndicated loan in Mozambique and the loan is now subject to lawsuits in the U.S. and the UK for...