Inside Capital, a private equity fund manager targeting high-potential opportunities in the southeast African region will invest $3.1 million in WeCycle, a Mauritius-based company specializing in the collection and recycling of paper waste. The operation is the sixth investment made through Inside Equity Fund and the third in the waste management sector. The financial resource will support...

Following the resignation of several members of the government, due to their candidacies in the presidential or legislative elections of December 27, the President of the Republic Issoufou Mahamadou proceeded last weekend to a cabinet reshuffle on the proposal of Prime Minister Brigi Rafini (pictured) who remained in his post. The new government has 40 ministers against 42 for the previous one,...

South Sudan has reached a health cooperation agreement with China for the next five years. The information was reported by Xinhua, which cites official sources. The deal between the two countries, inked last week, allows China to deploy its medical teams in the African nation over the period from 2021 to 2026. This move paves the way for strengthened cooperation between China's Anhui Medical...

In the first nine months of 2020, Ecobank's net income was down 197% compared to the same period in 2019. This underperformance is linked to the way financial results are presented in the IFRS format, the bank said. However, over the same period, cash position grew by 41.5% YoY reaching $3.34 billion. The improvement in cash flow is attributable to an increase of just over $1 billion...

US asset manager Everstrong Capital plans to raise nearly $45 million for its investment fund Kenya Infrastructure Fund dedicated to financing a variety of projects related to water, health, transport, information and communication technologies (ICT), with a focus on the energy sector. The investment vehicle to be deployed in Kenya has already received commitments from private and...

The World Bank announced last December 3 it will grant Morocco $400 million to support its social protection reform program. According to the institution, the funds will be used to support, among others, the emergency response of social protection to the covid-19 project. This project aims to support poor and vulnerable households during the pandemic, notably through social assistance in...

U.S. Congress passed a bill that could kick Alibaba group, founded by Chinese billionaire Jack Ma, out of the New York Nasdaq where it is listed. In its recent version, the Holding Foreign Companies Accountable Act (HFCAA), or Foreign Companies Accountable Act, obliges non-U.S. companies to allow the U.S. entity in charge of the accounting supervision of listed companies to access their...

For a long time, many ICT micro-enterprises have been unable to access the calls for tenders launched by Algérie Télécom. This is due to the various discriminatory clauses contained in the old specifications. The new one, elaborated by the historic telecom operator, inaugurates a new era for young tech-entrepreneurs looking for business and able to establish their credibility in the national...

Mozambique plans to build more than 1,500 affordable housing units for its population by 2024. This was announced on Thursday, December 3, 2020, by Cecilia Chamutota, Vice Minister of Housing of Mozambique. This program is part of the "Renascer" plan launched last March to reduce the housing deficit in the country. It targets mainly the populations aged between 22 and 45, with average incomes,...

French telecom group Orange, through its subsidiary Orange Marine, has decided to invest 50 million euros in the construction of a new vessel for the maintenance of submarine cables. According to Jean-Luc Vuillemin (pictured), Orange's director of international networks and services, "the construction of a cable ship is rare. And this is the first time that a building dedicated to maintenance is...