The government of Guinea Bissau and the International Monetary Fund (IMF) have reached a staff-level agreement for the implementation of a special reform program. In a May 12 statement, the IMF reported that the deal is prior to the conclusion of a 9-month staff-monitored program designed to “gradually narrow large macroeconomic imbalances that have been intensified by the impact of the...

The government of Tunisia is setting up a number of social measures to mitigate Covid-19 impacts on the economy and the population. PM Hichem Mechichi reported that Covid-affected companies will benefit from 5,000 credits worth TND5,000 ($1,835) each. The facilities will be granted under “very affordable” rate with a year of grace for repayment. Authorities also plan to postpone the payment...

Rwanda’s economy is expected to grow by 5.1% this year after the decline at 3.4% a year before. The figure is reported by the Minister of Finance, Richard Tushabe (pictured), during the presentation to Parliament of the draft budget for FY2021-22. According to the official, this economic recovery will be gradual and is expected to reach 7% in 2022, before stabilizing with an average of 7.8% in...

Mali's Minister of Communication and Digital Economy Hamadoun Touré (pictured) announced on May 9 the government is mulling over opening the telecom market to a fourth mobile operator if the prices of telecom services remain expensive. According to maliweb.net, he said this on the sidelines of the digital week to be held from 17 to 24 May. Hamadoun Toure said the government has discussed a...

Ivorian President Alassane Ouattara (photo) was the guest of a virtual debate organized on the occasion of the 60th anniversary of the Africa Department of the International Monetary Fund (IMF) last May 10. During his speech, the former official of the Bretton Woods institution made a strong plea for an in-depth reform, and an improvement of the measures taken to help African countries get out of...

The International Finance Corporation (IFC) has committed to make an equity investment of R150 million ($10 million) in the South African Student Accommodation Impact Investments Proprietary Limited platform. The IFC is supporting the development and operation of at least 15,000 student accommodation units over the next five years. The project is led by Eris Property Group, a real estate...

South Sudanese President Salva Kiir (pictured) appointed members of the Transitional National Legislative Assembly (TNLA) on Monday, May 10, 2021. Composed of 550 members, the new parliament is included in the implementation of the revitalized peace agreement signed in 2018. The transitional government has the parliamentary majority with 332 members. It is followed by Riek Machar's Sudan...

The Ministry of Mines and Petroleum, in collaboration with the Ethiopian Commodity Exchange, signed a Memorandum of Understanding (MoU) for the introduction of strategic minerals on its trading platform. The MOU was signed between the head of the Ethiopian Commodity Exchange, Wondemagegnhu Negera, and Eng. Takele Umma, the Minister of Mines. According to the latter, ‘the partnership will...

CDC Group, a UK-based development finance institution and impact investor, has announced a $100 million loan to ETG, an integrated agricultural conglomerate present in more than 48 countries. The financing is provided as capital to ETG and is known to be one of the largest corporate debt investments so far made by the CDC group. “The food and agriculture sector is a fundamental part of...

The Food and Agriculture Organization (FAO) and the Senegalese Vocational and Technical Training Fund (3FTP) have reached a cooperation agreement in which the UN organization will support and aid the Senegalese government in its efforts to rapidly promote employment and employability of young men and women in the agricultural sector. The deal is part of the MIJA project (Program to accelerate...