Pasabahce Egypt, the subsidiary of Turkish glassware and glass packaging producer, Sisecam is eligible for a $30 million financing from the International Finance Corporation (IFC), the private sector arm of the World Bank Group in emerging countries. The facility consists of a long-term loan of up to $20 million and a short-term credit of $10 million. “This project with our...

As part of its solidarity actions in favour of young people, Bolloré Transport & Logistics in Sierra Leone made financial, material and food donations on 29 January 2021 to the Don Bosco association, which works for the safety and development of vulnerable children. The company is thus supporting the 180 children of the Don Bosco camp in During Town. These are children who have been abused and...

Sub-Saharan African countries eligible for the G20 debt moratorium are paying close attention to the ongoing discussions Ethiopia, Chad and Zambia are having with this group. Zambian Finance Minister, Bwalya Ng'andu, whose country is facing fragility due to its external debt, confirmed on February 5th, 2021 that negotiations had begun to leverage the G20's common debt framework. The group has...

The Regional Education Finance Fund for Africa (REFFA), managed by the impact investment management company, BlueOrchard Finance has granted a $3 million loan to Fidelis Finance, a West African financial institution to support education structures in West Africa. Deployed in December 2020, the financing was made public on February 17th. Fidelis plans to use this financial assistance to...

African countries need to make more efforts to achieve the digitalization process of financial services according to a finding by FinAfrique, a financial sector analysis firm focused on Africa. A survey conducted by the firm on 289 banks and 225 insurance companies in 21 African countries showed that almost all these companies have websites and offer online services. However, the next stage of...

The Somali government in collaboration with the UN has launched a Humanitarian Response Plan (HRP) in Somalia. A joint appeal was launched to donors to raise $1.09 billion for this purpose. According to humanitarian coordinator, Adam Abdelmoula who made the announcement on February 15th, the UN support seeks to ensure availability and access to basic services such as food, shelter, and...

The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) is providing a $965,000 grant to Morocco’s Société d’Ingénierie Energétique (SIE), to support its transition into the first Super Energy Service Company (ESCO) initiative in Africa “This support from the African Development Bank will enable the operationalization of the new SIE as a Super ESCO, thus...

The Japan International Cooperation Agency (JICA) and the African Development Fund (ADF) – the concessional arm of the African Development Bank Group – on Tuesday signed a loan agreement of 73.6 billion Japanese yen ($668.1 million) to support the 15th replenishment of the African Development Fund (ADF-15). During a virtual ceremony, African Development Bank Group President Dr. Akinwumi A....

Chad will send 1,200 more soldiers to combat Jihadism in the Sahel region. The news was reported on February 15th by President Idriss Deby (pictured, left) during the G5 Sahel summit held in N’Djamena. This deployment was announced at the Pau summit a year ago. However, the covid-19 pandemic and the need to secure the Lake Chad area prompted N'Djamena to postpone this operation. In March...

Mobile operator, Expresso Senegal has only 24 days left to relaunch fixed-line telephone services in Senegal and avoid sanctions from the Post and Telecommunications Regulatory Authority (ARTP). Through a formal notice sent on Thursday, February 11th, the telecom regulator has questioned the subsidiary of the Sudanese telecom group Sudatel, holder of a global license, on the violation of the...