The Board of Directors of the African Development Fund on Wednesday approved a loan of around $116 million to the Tanzanian government to upgrade a 160-km Mnivata-Newala-Masasi road corridor in the southern part of the country. The Bank’s loan represents 98.71% of the project cost; the government of Tanzania will provide the remaining 1.29% in funding. The project will upgrade the...

West Africa has become in recent years a playground for terrorist activity. Several Islamist organizations are active in the region, and their influence is growing over the years. The region has received support from various partners but the challenges remain. General Stephen Townsend, who heads the US Africa Command (AFRICOM) announced the command is currently exploring ways to improve and...

The assets seized from the vice president of Equatorial Guinea, Teodoro Nguema Obiang Mangue (pictured), will be redirected to the fight against Covid-19 in the country. The decision was announced on September 20 by the U.S. Department of Justice. Of the $26 million, $19.25 million will be made available to the United Nations for the "purchase and distribution of vaccines against...

On August 14, the Algerian government announced the unilateral severance of its diplomatic relations with Morocco, citing incessant hostile acts by its neighbor. Tensions between the two countries has so far escalated.   Moroccan civilian and military aircraft, as well as aircraft registered in the country are now banned from entering the Algerian airspace. The decision was announced...

Egyptian e-payment and banking solutions provider Fawry has acquired a minority stake in the social commerce platform Brimore. The Egyptian unicorn founded by Ashraf Sabry spent 15.7 million Egyptian pounds ($1 million) on the acquisition. The investment is part of an upcoming Series A round announced by Brimore. It will help Fawry strengthen its partnerships with high-potential technology...

The Congolese government approved on September 20 the bill approving the partnership agreement with Total Nature Based Solutions (TNBS), Congo First Company (CFC), and Forest Neutral Congo (FNC) for the development of the State land reserve located at Léfini in the Plateaux department. This bill was presented to the Council of Ministers by Rosalie Matondo (pictured), the Minister of Forest...

During his address to the nation at the country’s 61st anniversary, Colonel Assimi Goïta announced his ambition to build a war school in Mali. The plan, according to him, is to provide "high-level training” for senior army officers. “The school will provide the defense and security forces with an effective tool for reflection, research, and analysis of strategic issues. Acquiring such...

Helios Investment Partners has completed its exit from consumer goods distributor GBfoods Africa after more than four years. The pan-African private equity firm sold its 49% stake to GBfoods SA for an undisclosed amount. According to Nimit Shah, partner at Helios, the PE firm has helped build GBfoods Africa into "a large, fast-growing, local African consumer goods company." Through this new...

As part of its strategy to improve urban mobility across the country, the DR Congo government announced it will soon put 600 new transport buses into service. The project will be implemented in partnership with the Chinese consortium C2 Stars Limited and Sumec Hong Kong Company Limited. The related MoU was signed on September 18, between the consortium’s chairman Tang Wei (picture, right) and...

Global leaders, in a sideline event on health during the United Nations General Assembly, voiced the urgent need to scale up Covid-19 vaccine production and access in the wake of a pandemic that has caused unprecedented economic loss and bankrupted health care systems in Africa. The Future Investment Initiative Institute hosted the virtual event on Tuesday, as part of a series of panel sessions...