Kafo Jiginew, a Malian microfinance institution has just received a long-term loan of €10 million (FCF6.5 billion) from the European Investment Bank (EIB). “The contract will support the financing of economically profitable investments and those that create added value and jobs in sectors that struggle to obtain bank credit in rural areas. These are essentially micro, small and...

South African banking group Nedbank Ltd. is seeking to increase stakes in Mozambican commercial bank Banco Unico to 87.5% form 50% for R140 million. The operation should first be approved by the two countries’ regulatory authorities and is expected to be finalized in the first half of 2020. In its annual report issued last year, the South African company said it plans to acquire and hold...

The Federal government of Nigeria could adjust its budget provision for this year to curb the impact of the ongoing coronavirus on oil prices. This was announced by the Finance Minister Zainab Ahmed (pictured). “The current crude oil price of $53 a barrel is below the budget benchmark. So what we are doing is studying the situation. We are committed to doing a midterm review,” she said....

For weeks, investors and the business community have been rattled by massive disruptions to global supply chains, as factories shut down in China. Everyone from BMW and Mercedes to Apple are feeling the squeeze on account of the coronavirus. But economies and businesses are not the only ones dealing with disruption. Social conventions are adjusting in unprecedented ways. Yesterday, Italy shut...

The Rwandan Ministry of ICT and Innovation, the City of Kigali, the French consulting firm Tactis and their partners are working to improve the sustainability of the city of Kigali through the implementation of an ambitious digital project: an innovative citizen's platform coupled with a network of sensors to monitor air quality. This project will be carried out thanks to a funding from the...

The government of Kenya is getting ready to issue its first-ever road bond seeking KSh150 billion ($1.5 billion), the Infrastructure Principal Secretary Paul Maringa (pictured), reports. Paul Maringa told the Parliament that the bond will be issued by June this year. Part of the resources will go to Kenya Roads Board (KRB) to settle pending bills covering the period up to June 30. The remaining...

Zambia has signed an $825 million deal with China Railway Construction Corp for the modernization of railways in the south of the country, the company said yesterday March 3. The project will last 8 years and concerns a total of 648.26 km of existing lines, including the Stone-Kafue Bridge (420.67 km), Livingstone-Mulobezi (162.95 km) and Masuku-Choma (64.34 km). No information is given...

South Africa’s economy has officially entered a new recession for the second time in two years, the national statistics office (Stats SA) announced. Data show that in the fourth quarter in 2019, the economy shrank by 1.4%, after a 0.8% decline the previous quarter. This scenario is the consequence of a slowdown in 7 out of the 10 key sectors over the year. In the fourth quarter, agriculture...

After three years of recession, the Namibian economy is expected to get back on a positive growth trend this year. The good news was reported following an IMF mission to the country last 24 to 28 February as part of the organization’s regular surveillance activities. Driven by the acceleration of mining production and drought mitigation recorded last year, Namibia's economic growth is expected...

Senegal has just recorded a second case of coronavirus less than 48 hours after the first case was confirmed. The announcement was made Tuesday, March 3, 2020, by the Ministry of Health. The patient is a French resident aged 80 years, living in Sarcelles, in the Paris suburbs, who arrived in Senegal on February 29, 2020. The man was confirmed following a medical consultation on March 2, 2020 at...