The Tunisian government instructed a new lockdown measure to better handle the third deadly wave of Covid-19. According to information reported last May 7 by PM Hichem Mechidi, all citizens will have to stay home and only go out in cases of strict necessity from May 9 to 16. Movements between regions are banned and there is a curfew from 7 pm to 5 am. The new measure is aimed at helping the...

Sudan has secured a $425 million bridge loan to settle its arrears with the African Development Bank (AfDB). The information was reported by the Ministry of Finance in a May 5 statement. "We no longer have any arrears with the Bank," said Sudanese Finance Minister Jibril Ibrahim, welcoming this new success. The bridge loan was provided by Britain, Sweden, and Ireland. The move is the...

An alliance of multilateral development banks and development partners pledged over $17 billion toward addressing rising hunger and improving food security in Africa. This occurred at a two-day dialogue held on 29th-30th April under the theme Feeding Africa. During the forum, seventeen African leaders signed a commitment to improving agricultural production. This, in turn, will double the...

Trinity International, pioneering law firm in the field of transactions in the energy and infrastructure sectors in Africa and other emerging countries, is accelerating its development and welcoming Stéphane Brabant as senior partner, and Lucien Bou Chaaya as partner. Stéphane Brabant and Lucien Bou Chaaya are experts in projects and transactions across the African continent, with a strong...

South African Absa Bank, former subsidiary of British Barclays Bank, is about to obtain up to $150 million in loan from the International Finance Corporation to support green projects. ICF says this is Africa's first certified green loan. "Africa's green transition requires considerable mobilization of funds [...] The agreement with IFC bolsters our funding available for green projects and...

Jubilee Holdings, the biggest insurance company in East Africa, finalizes the sale of its Kenyan subsidiary. The buyer is German Allianz which thus becomes the majority shareholder in Jubilee General Insurance Company with 66% of the stake (1.5 million shares). Active in 12 African countries via Allianz Africa, Allianz has already obtained all the green lights for this acquisition. The operation...

In 2020, Twiga Foods, a B2B marketplace platform, and Komaza, a tech-driven forestry business, raised Sh6.3 billion - respectively Sh3.2 billion and Sh3.1 billion. This is out of the Sh19.1 billion raised by Kenyan startups that year, according to the Disrupt Africa Tech Startups 2020 Funding report. “This is the largest amount of funding ever achieved by a single country (ed. note: in...

The value of the Nestlé CI shares jumped by 7.23% on the Abidjan-based regional stock market BRVM yesterday May 5. This is the seventh consecutive day of trading which closed with an increase of more than 7%, according to data collected by Ecofin Agency. Since January 1, 2021, its progression has increased to 293% and 500%, compared to its value 12 months ago. The second top performer on BRVM...

Over the first three months of 2021, Southern African tech startups raised a total of $147.7 million through 25 transactions. Of this group, two South African startups stood out, capturing more than half of the overall investment. These top performers are the fully digital bank TymeBank, which raised $109 million last February, and the fintech Adumo, which mobilized $15 million...

The Reserve Bank of Zimbabwe says inflation in the country is expected to be 55% by July, against 873.53% in the same period in 2020. In a note published on May 4, the Central Bank’s Monetary Policy Committee (MPC) revealed that the inflation rate dropped by 240.1% in March this year to 194% in April. This downward trend started in August last year following the implementation of a monetary...