Guinean manufacturer of low-cost smartphones -Kunfabo- founded by Fadima Diawara (pictured), has decided to market its mobile devices. To this end, the company has signed a deposit-sales contract with the mobile phone operator MTN. A strategy that gives it credibility and visibility. The adventure will begin with the Kunfabo F99 phone which has been meticulously tested over the last few months...

The South African company, which acquires and operates real estate properties in South Africa and abroad, sold its Velica Gorica real estate asset in Zagreb, Croatia, for €9.1 million euros ($10.1 million). The company realized a capital gain of $300,000 on the sale, and plans to use the money to repay part of its debts. The property consists of a building and commercial spaces. It...

The African Development Bank’s Fashionomics Africa initiative on Tuesday launched its first webinar series to discuss the impact of the COVID-19 pandemic on the industry. In total, 136 fashion entrepreneurs, digital innovators and creative minds joined the discussion. The theme of the first episode of the series was: “What does the COVID-19 disruption mean for Africa’s Fashion Market?...

For the past five decades, the African Development Bank Group has been at the forefront of driving Africa’s economic transformation, leveraging its diverse resources and unique know-how as an indigenous development finance institution. The Bank has delivered on its goals of reducing poverty and fostering inclusive growth on the continent. We scaled up development support for our 54 regional...

Commodity exports to China could fall by $33.1 million in 2020, down 46% from initial forecasts. According to the UN Conference on Trade and Development (UNCTAD), this decline in Chinese commodity imports could led to a 9% decrease in the annual growth in developing countries. In those countries, revenues from commodity exports to China is expected to slide by $2.9-7.9 billion. The...

Financial services institution Finbond Group announced its plan to divest all assets in South Africa (Finbond Mutual Bank and Supreme Finance) as market conditions becomes more difficult there. Indeed due to the coronavirus pandemic, the company’s business volume dropped by about 70% in April this year. The group says the exit plan will be gradually carried out over the next five years and the...

On June 2, the Federal Government of Nigeria finally classified telecommunications equipment as Critical National Infrastructure. This long-awaited decision is a relief for telecom operators. According to a statement by the ministry of digital economy, President Muhammadu Buhari has instructed various federal institutions to take practical measures to safeguard the telecom network deployed...

The Ivorian government announced an investment of CFA1 billion into scientific research, mainly to better the response plan against the current pandemic facing the world. According to Adama Diawara (pictured), the minister of higher education and scientific research, the resources will enable researchers to manufacture drugs against the coronavirus and “to provide clear scientific answers to...

South African Insurance group Sanlam becomes the only shareholder in the Nigerian life insurance company FBN Insurance and its subsidiary FBN General Insurance. The acquisition follows a deal signed between FBN Holding (parent company of FBN Insurance and FBN General Insurance) and Sanlam which grants the South African company the ownership over the 65% stake held by FBN Holding in the two...

The government of Uganda has valued the loss in tourism revenues due to the coronavirus at $1.6 billion a year. The bad news was reported by the President Yoweri Museveni (pictured) during an address on June 1. The Head of State provides no details on the number of years covered by these estimates. In recent years, Uganda has developed an economy strongly based on tourism thanks to its...