Mobile operator, Expresso, a subsidiary of the Sudanese telecom group Sudatel, risks losing its license to operate a publicly available electronic communications network in Senegal. The Post and Telecommunications Regulatory Authority (Arpt) is accusing the company of several breaches of its commitments and demands CFA7 billion. According to the regulator, Expresso does not invest enough to...

The Nigerian division of Ecobank announced plan to raise $300 million on the international money market. In an official statement, the company revealed that, for this purpose, a special investment vehicle has been set up and incorporated in the Netherlands, which is the entity that will first issue the securities before they are listed on the London Stock Exchange. The resource that will be...

A new case of the Ebola virus was reported in the Democratic Republic of Congo yesterday 7th February ,2021. The new outbreak is happening two months after the end of the last one. In an official statement released by the authorities, the victim was the wife of an Ebola survivor. She tried to get treatment but ended up dying in Butembo, a city in the North-Kivu Province. This area was the...

Vivo Energy Côte d'Ivoire, the Ivorian dealer of Shell, started this month on the wrong foot on the regional money market BRVM. The company’s share accumulated a loss of 6.98% consecutively over the second week after the 0.77% contraction between January 25th – 29th, 2021. This counterperformance occurred while Vivo experienced its second-largest weekly transaction since November 16th,...

Tunisia’s power utility STEG will benefit from a €300 million loan ($359 million) from the European Bank for Reconstruction and Development (EBRD) to strengthen its energy supply, especially in this pandemic context. No details were given on the loan’s maturity period. “The financing consists of two facilities. A €100 million emergency facility under the EBRD's infrastructure...

On February 2nd , the Egyptian company Benya Capital and the Congolese Post and Telecommunications Company (SCPT) finalized the deal for the deployment of 16,000 km of optical fiber across the Democratic Republic of Congo. The document was inked during the visit of the Congolese President, Félix Tshisekedi to Egypt between 1st -2nd of February. As a reminder, negotiations for this contract...

Private equity firm Phatisa reached the final close at $143 million of its third Africa food fund –Phatisa Food Fund 2 (PFF2). The amount is far below the $300 million initially targeted by the company for this third fund. The operational fund saw the participation of a consortium of five development finance institutions which committed $82 million to the fund. Investors include...

15 suspects got arrested this week after Ethiopia successfully foiled a terrorist attack against the United Arab Emirates (UAE) embassy in Addis Ababa. The information was reported on 3rd of February by the National Intelligence and Security Service (NISS), which said it was "closely monitoring" the situation in collaboration with the federal police and other security forces. NISS said heavy...

The Tunisian Parliament validated on 2nd February, a bill approving a €150 million loan ($180 million) provided by Germany through the German Reconstruction Credit Institute (KfW) to support the reforms initiated by the government. Once available, the funds will be injected in projects aimed at improving the efficiency of the transport, energy and electronic payment services...

The job market in Morocco lost 432,000 positions last year due to the coronavirus pandemic and bad agricultural campaign. Figures were provided by the High Commission for Planning (HCP) in February 3 note. According to the public body, jobs were lost in all sectors both in rural and urban areas. The situation is characterized by "job destruction, a drop in the hourly volume of work, and an...