Following the adoption of new measures, the European Union added Mauritius to its blacklist on money laundering and terrorist financing. In a press release issued on Tuesday 2 June, the office of the Prime Minister of Mauritius, Pravind Jugnauth, expressed its indignation at seeing the archipelago appear on the European Union's (EU) blacklist, which identifies third countries whose anti-money...

Over the first three months of 2020, the value of shares issued on the financial markets of sub-Saharan Africa fell by 32%. However, for the banks that arranged these transactions, their commissions soared by 216%. According to data collected by Reuters, the overall value of equity issues made in the first quarter of 2020 in the financial markets of sub-Saharan Africa reached $727.8...

Kenya Revenue Authority (KRA) announced the introduction of digital content taxes, meaning the downloading of software, podcasts, videos, etc., will soon be paid for in the country. KRA says the measure is to offset some of the losses due to Covid-19. If it is adopted, Internet access will in some ways become more expensive. In the interests of transparency, the Kenya Revenue Authority has...

The government of Benin announced the creation of a financial services quality observatory. The mission of this observatory will be to enhance the attractiveness of the sector to increase the use of formal financial services by SMEs and individuals. The strategy aligns with the government's plan to improve financial inclusion and the business environment in the country. In concrete terms, the...

The International Monetary Fund approved the disbursement of $143 million to help Sierra Leone better and swiftly respond to the economic, health, and social challenges stemming from the coronavirus pandemic. The financing will be used to meet the urgent balance of payments and public finance needs arising from the pandemic while financing increased health spending and social protection for...

Bolloré Transport & Logistics is announcing the opening of an agency in Kalemie in the Democratic Republic of the Congo (DRC). The new site, located in the province of Tanganyika, strengthens the network of the leading logistics operator in Africa. The opening of the new agency provides a logistics solution to the humanitarian organisations based in the region. It will also contribute via...

West Africa’s leading connectivity and data center provider, MainOne, has partnered with AWALE, a neutral network operator that provides high speed data transmission capacity via its fiber optic cables installed on the national transport and electricity, to support the Crisis Cell of the Ivoirian Government in its fight against the COVID-19 pandemic. This measure of solidarity will reinforce...

The Arab Financial Consultants revealed in a study issued June 2 that the 3-month moratorium granted on the payment of personal loans in Tunisia could drop banks’ revenue by TND595.3 million (about $211 million). The maturity period postponement measure was decided by the Tunisian Central Bank in April 2020 to mitigate the economic impact of covid-19 on the population. The $211...

The Islamic Development Bank announced a “Murabaha” financing of $8.8 million in favor of the Islamic Bank of Senegal (BIS) to support 1,000 jobs in the private sector amid the coronavirus pandemic. The fund was approved by the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group. According to Hani Salem Sonbol (pictured), ITFC's...

Data presented from  the PricewaterhouseCoopers (PwC) Nigeria 2019 African Capital Market Watch, which reviewed the performance of Africa’s capital markets between 2010 and the first quarter of 2020, shows that African equity capital markets activity have seen a downward trajectory over the past three years as major economies on the continent are faced with fiscal challenges due to growing...