The Moroccan banking group BMCE Bank of Africa is the first institution to benefit from the Resilience Framework initiative set up in March 2020 by the European Bank for Reconstruction and Development (EBRD) to support partner institutions facing credit difficulties as a result of the current health crisis. EBRD will grant a credit line of €100 million to the bank headed by businessman...

The British government announced a $43.6 million rescue plan to help Zimbabwe face the covid-19 pandemic. The information was reported on April 22 by the British Ambassador to Zimbabwe, Melanie Robinson (pictured). The resources will serve health care needs and improve efforts to control and limit the propagation of the virus. Part of the money will be used to assist children in need of...

On April 27, the Ivorian government will issue the first covid-19 social bonds on the WAEMU securities market, seeking a total of CFA180 billion (about $297 million). The operation will consist of 3-month Treasury bills (BATs) at multiple rates less than or equal to 3.75%. The securities issued are repayable on the first working day following the maturity date, which is set at 27 July 2020....

Brussels satellite service provider SatADSL signed a partnership agreement with broadband satellite services provider YahClick, owned by UAE-based Yahsat, to improve connectivity across sub-Saharan Africa. SatADSL will combine the capacity acquired from YahClick and its cloud-based service delivery platform (C-SDP) to deliver a full range of flexible satellite services across the region. “Our...

US company Apple, which specializes in the design and marketing of consumer electronics products such as personal computers and software, announced on April 21 plans to expand in new emerging markets. App Store, Apple Arcade, Apple Music, Apple Podcasts, and iCloud are now available in 20 new countries, including eight African countries: Cameroon, Côte d'Ivoire, Democratic Republic of Congo,...

Dutch investment fund Massif Fund, managed by FMO on behalf of the Dutch Ministry of Foreign Affairs, has invested $2.7 million in Nasira, a program that supports young, female, and migrant entrepreneurs in Sub-Saharan Africa and countries neighboring Europe. The money will be used to help the companies continue their activity during this global pandemic context. “Whilst the COVID-19...

Over the first quarter of 2020, Tunisian company Sotemail posted a turnover down 36.7% compared to the same period in 2019. Income dropped by 30.9% to TND9.1 million. Outside the local market, sales fell by a record 95.8%. However, the company that manufactures and markets ceramic tiles for wall and floor coverings achieved a good performance in 2019 with export sales up 370% in the first...

The government of South Africa has set up a $26 billion response plan to curb the covid-19 and revive the economy. The information was reported on April 21 by the president, Cyril Ramaphosa (pictured). According to the Head of State, this amount, which represents 10% of the country’s GDP, will help stabilize the economy and combat the decline in supply and demand, protect jobs and finance...

Tunisia will benefit from a concessional loan of €600 million granted by the European Union to fight the coronavirus pandemic. According to an April 22 statement of the EU Commission, the facility is part of a €3 billion aid program for 10 third countries in and around Europe, available for 12 months. The financing will be used to strengthen the resilience of the Tunisian economy...

Egypt’s President, Abdel Fattah al-Sisi (pictured) announced on April 21 that his government will grant medical assistance to the US to fight the covid-19 pandemic. The aid, which will be transported by military aircraft, will consist mainly of medical equipment, anesthetic drugs, antibiotics, body bags, masks and screening kits.According to Abdel Fattah al-Sissi, this action “falls within...