Swedish financial institution Swedfund announced an investment of SEK2.2 million in three healthcare facilities in Africa and Southern Asia. The loan conditions have not been disclosed. In Africa, the company is investing in Nigeria-based Express Pharma, which distributes safe medicines across the country’s strategic points. The Malagasy Opham, which provides pharmaceutical products to...

The United States offered Niger 10 military Mercedes Atego trucks and a logistical warehouse to support the fight against terrorism in the region. The equipment is valued at CFA895 million ; CFA626 million (about $1 million) for the trucks and CFA269.1 million (about $430,000) for the 300m2 warehouse. The donation was received on May 27 by the Defense Minister Issoufou Katambé....

The Ivorian government adopted on May 27 a decree ratifying a loan agreement of CFA10 billion (about $17 million) from the West African Development Bank (BOAD) for a water project in Abidjan. The agreement was signed since July 2, 2018. This funding will make it possible to build two water towers with a capacity of 5,000 m3 each in the communes of Marcory and Port-Bouët, to deploy 210 km...

In South Africa, authorities have decided to grant 30 GB of free internet to students in high schools for 3 months. The government will also support students by providing laptops to help them follow online courses, in this pandemic context. “We acknowledge that the cost of connectivity remains a huge barrier for students who want to use the digital learning mode as part of our multi-modal and...

The Board of Directors of the African Development Bank on 25 May, 2020 approved a $500,000 emergency assistance grant to Egypt to provide food relief, and to contribute to restoring the livelihoods of vulnerable populations severely affected by COVID 19. The intervention will seek to complement ongoing activities by Egypt’s government to mitigate the effects of the virus pandemic on...

SA’s Standard Bank, the largest banking group in Africa by revenues ($7 billion in 2019), has finalized the preparation of a medium-term borrowing program of around $4 billion, we learn. The transaction will be carried out in several tranches and according to market conditions at the time of issue. In this context, the group plans to issue subordinated debt, commercial paper and...

Main One, West Africa’s premier connectivity and data center solution provider, has been entrusted by the State of Burkina Faso, backed by the World Bank, to provide bulk connectivity services to a consortium of operators through the PAV-Burkina Cooperative, for the next three (3) years. Following an international bid to select a preferred operator, MainOne was chosen by the Burkinabe...

The Board of Directors of Kenyan Equity Group Holdings says it has canceled the distribution of KSh9.5 billion (about $88.9 million) in dividends to shareholders for the financial year 2019. The reason for this decision, the Board says, is the need to preserve liquidity in this pandemic context. Following this announcement, the Equity Group’s shares dropped by 3.04% on May 26 on the...

Liberia will receive $640 million from the United States Agency for International Development to finance its development project for over five years (2019-24). The agreement deal was signed on May 22 with the United States. The project aims to promote development through private sector-led economic growth by focusing on a series of reforms and the training of a healthy, productive, and...

Ethiopia’s communication authority (ECA) announced it is launching two new telecom operator licenses in efforts to broaden coverage across the country. As a reminder, the government announced in June 2019 plans to privatize the telecom sector to make it more competitive and attract foreign investments in the sector. In addition to the new licenses, the state plans to open the capital of the...