The National Pharmaceutical Office (OPN), a public purchasing center for medicines and other health products, recently placed under the management of the Gabonese Strategic Investment Fund (FGIS), has signed a technical partnership agreement with mPharma, a renowned Ghanaian company in the public health sector. mPharma specializes in providing technology solutions for the management and...

Shelter Afrique had obtained in 2018, a new repayment term for its commercial debt contracted with 8 financial institutions. With the debt now cleared, the company seeks new resources on the debt market. Shelter Afrique has repaid three years earlier than expected, the entirety of its commercial debt contracted with eight financial institutions, including two commercial banks and six development...

The Middle East and Africa arm of French telecom group Orange has selected Ericsson to enhance its mobile money service in 14 African countries. The Swedish technology company said on Monday, September 20, that it will make its Ericsson Wallet Platform solution available to the telecom company for this purpose. Alioune Ndiaye, president and CEO of Orange Middle East and Africa, explained that...

Earlier this year, the Prime Minister of Burkina Faso announced investments to increase broadband penetration in the country. This is one of the government’s top priorities. The Burkinabe government is currently preparing a two-phase project to develop Internet connectivity in urban areas. Phase I will target the cities of Ouagadougou, Bobo-Dioulasso, and Koudougou, while the second will be...

CDC Group announced the investment of $50.9 million in the digital and ICT sectors in sub-Saharan Africa. Of this amount, $40 million will go to the Convergence Partners Digital Infrastructure Fund (CPDIF) managed by Convergence Partners, which is a specialist Africa-focused ICT fund manager. This first investment will boost connectivity and access to ICTs in Africa. Convergence...

The main stock markets of Europe and the U.S. started this week on a bad note with declining values. This reflected investors’ sentiment in a context where the debt of Chinese property developer Evergrande has worsened and the US Central Bank’s measures to limit asset purchases are awaited. Commercial banks in China reported that Evergrande could not meet the interest payments due on its...

Egyptian health technology company Sotech has secured $1 million in pre-seed funding in a round led by Innlife Investments and Al Raya Kuwaiti. The startup, which works with more than 200 clinics in the medical field in Cairo, plans to expand its operations in the Middle East and North Africa (Mena) region over the next few years. Incorporated in 2019, Sotech has built an app that allows...

Africa Capitalworks (ACW), a private equity firm active in Sub-Saharan Africa, announced it has made an equity investment in Dorman Long Engineering Limited. The beneficiary is a diversified Nigerian firm offering engineering, manufacturing, and asset management services. ACW’s commitment will help Dorman Long Engineering expand its existing facilities, acquire additional facilities and...

The Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum), the World Bank Group and the African Development Bank have jointly published a new version of the Manual on Exchange of Information, in order to support tax authorities. Exchange of information (EOI) is an essential tool for tax authorities worldwide to ensure that all taxpayers pay the correct amount...

The African Development Bank’s Special Agro-industrial Processing Zones (SAPZ) initiative can trigger a fundamental change in Africa’s economic transformation, partcipants at the first partnership meeting for agro-industrialization said on Monday. The gathering brought together representatives from development finance institutions, private developers of Special Economic Zones, and other key...