The government of Niger launched yesterday Feb 25 its 2020 Humanitarian Response Plan that aims to assist 1.8 million people in humanitarian need in the country. The scheme is valued at $400 million. Beneficiaries include internally displaced persons, returnees and refugees, vulnerable people living in host communities and other vulnerable populations. They will benefit from about 156...

In its latest note on short-term economic and monetary outlook, the Central Bank of Tunisia found that the country's foreign exchange reserves stood at $6.955 billion at the end of 2019, equivalent to 111 days of imports. This is the highest level in value over the past five years. In 2018, the amount was $4.667 billion (84 days of imports). This increase in forex reserves is linked to...

Nigeria-based digital currency company BitFxt Technology has raised $15 million from the British Payitup Clearinghouse Ltd to expand its activity. The agreement allows BitFxt to get a $125 million Revolving Margin Facility for all its traders to leverage their position for higher gains. Payitup Clearinghouse Ltd will act as a clearinghouse, a financial institution responsible for...

In a move to leverage the new law allowing private investors to get majority stake in public companies, Egyptian businessman Naguibi Sawiris (pictured) engaged in talks with the government to acquire 51% in the capital of gold mining company Shalateen Mineral Resources Company (SMRC). Last year, Naguib Sawiris expressed his desire to invest in the mining sector in Egypt and said he would wait...

The Executive Council of the African Union has supported Dr. Akinwumi Adesina’s candidacy for a second term as President of the African Development Bank. The decision was taken during the thirty-sixth Ordinary Session of the AU Executive Council, held during the AU Summit in Addis Ababa, Ethiopia, 6-7 February 2020. Adesina was elected to his first term as President by the Bank’s Board of...

Rwanda's finance minister, Uzziel Ndagijimana (pictured), presented to parliament a draft bill aiming at increasing public spending by 4.8% for the financial year ending in June 2020. If the bill is passed, government spending for the year will rise to over 3 trillion francs (over $3.17 billion). The official said the extra money will be raised through tax and non-tax revenues and will be...

The government of Burkina Faso is benefiting from CFA10 billion ($16 million) from the African Development Bank to speed up the Rural Clean Water and Sanitation Program (PEPA-MR). The agreement was signed February 21 between the Burkinabe Minister of Economy, Lassané Kaboré, and the AfDB Country Manager in Burkina Faso, Pascal Yembiliné (pictured). Under this initiative, the government...

While the Gni congratulates the chocolate makers and the chocolate industry for their will to support Ivorian farmers, the Group of Ivorian traders (Gni), Ivorian grinders and shippers call for help and launche a distress call to all chocolate makers, such as Lindt, Mars, Mondelez, Meiji co, Ferrero, Nestle, Blommer, Hershey, Ezaki Glico, Arcor, Pladis, Kellogg’s, Storck, Orion, United...

Econet Global Limited, a telco owned by Zimbabwean businessman Strive Masiyiwa, has ambitions to get a telecom license in Ethiopia. “Econet, through a number of its subsidiaries, is actively developing interests in Ethiopia,” a company spokesman told Bloomberg. “Given that there is a competitive process on new licenses, it would not be appropriate at this stage to discuss our own...

Venture capital firm Paper Plane Ventures sold the shares it held in bitcoin cash wallet startup Centbee to Dutch Two Hop Ventures for an undisclosed amount. Centbee enables customers to make purchases in supermarkets and pay the bill via mobile phone using a cryptographic system (Bitcoin SV). Co-founded in 2017 by Lorien Gamaroff and Angus Brown, the company also carries out international money...