The government of Ghana started talks with unions and associations of employers in the country to fix a new minimum wage for 2021. The announcement was made by President Nana Akufo-Addo (pictured) himself on the occasion of the Labor Day placed under the theme “Economic Recovery in an Era of Covid-19; The Role of Social Partners.” This initiative comes in addition to the ongoing measures set...

Last year, the overall debt of frontier markets across the world increased by $120 billion to $3btrillion, according to figures provided by the Institute of International Finance (IIF). The top 3 countries that made the debt level increase include Côte d'Ivoire, Bangladesh, and Romania. The IIF analysis, which focuses on the debts of various economic agents, showed that the amounts...

The President of Niger, Mohamed Bazoum, announced yesterday April 29 his ambition to boost the agricultural sector.  In that wake, 15% of the annual state budget will be pumped into the sector over the next five years. The announcement was made during the virtual summit “Feeding Africa: Leadership to Scale Up Successful Innovations.” The meeting was attended by several heads of state,...

Last year, military expenditures grew by 5.1% in Africa amid a decline in revenues due to the Covid-19 pandemic. In the Francophone part of the continent, Côte d'Ivoire comes first in military spending with more than $607 million invested. The Stockholm International Peace and Research Institute (SIPRI) published last April 26 its report on military spending worldwide for 2020. Figures...

Yesterday April 28, Nestlé Côte d’Ivoire closed its 6th consecutive day of gains on the regional stock exchange BRVM. If the company keeps this trend as forecasted, it will be well-positioned to hit its best stock gain since 2012. Since January 1, 2021, Nestle CI’s value rose by 176.5%; a strong startup after four consecutive years of decline. Investors are attracted by the good yield...

French President Emmanuel Macron (pictured) calls on the international community to set a new deal for African countries affected by the Covid-19 pandemic. Like the economic recovery plan set up in the 1930s by US President Franklin Delano Roosevelt to fight the great depression in the US, the plan envisaged by Macron will support African economies in their efforts to get back on track. It will...

Since the Covid pandemic began, the Egyptian economy has lost a total of $23.5 billion. Figures by the International Monetary Fund (IMF) showed that the country’s economic growth dropped from 5.6% in 2019 to 3.6% in 2020. According to the Egyptian Finance Minister, Mohamed Maait (pictured), the situation is due to a slowdown in key economic sectors including industries and tourism,...

Total Côte d'Ivoire says it will distribute a gross dividend of CFA7.6 billion for the financial year 2020; this is a little more than 99% of its net benefit and nearly 121.5 CFA francs in gross dividends before tax for each share held by investors. The figures were featured in the company’s financial statements issued on the regional stock exchange BRVM. Although Total CI achieved a positive...

Axian Consortium plans to invest $500 million in the Tanzanian telecom market over the next five years. The decision follows the signing last April 19 of an agreement with Millicom International Cellular (MIC) for the acquisition of its subsidiaries Tigo Tanzania and Zanzibar Telecom (Zantel). The investment will help expand the two subsidiaries’ coverage across the country, with a...

The International Forum of Sovereign Wealth Funds (IFSWF), together with Franklin Templeton - a global leader in asset management- released a report that focuses on the challenges and opportunities of sovereign wealth funds on the African continent. The report outlined three key issues that Africa’s sovereign wealth funds are facing: governance, social impact, and environment. These have...