Pan-African lender Ecobank has signed a partnership agreement with Alibaba’s payment  platform, Alipay.  The partnership will ease instant transfers between the users of the two groups’ payment platforms, Rapidtransfer and Alipay. In addition, the move should diversify Ecobank’s offers, reduce transaction costs, and boost the quality of the group’s...

In a first fundraising on the WAMU securities market this year, Niger successfully raised a total of CFA31.4 billion. Compared to the initial target of CAF15 billion, this makes a subscription rate of 209.4%. Of this amount, the country only cashed CFA16.5 billion (about $27 million). The operation recorded 51 bids for 21 participants from the WAEMU region, including Togo which offered CFA7...

The African Development Bank -AfDB- approved $1 million in aid to Uganda to support the National Ebola Viral Disease (EVD) Preparedness and Response Plan. The loan agreement was signed on Wednesday, Feb 12, between the AfDB Uganda Country Director, Kennedy Mbekeani, the Ugandan Economic Development Minister, Matia Kasaija, and Dr. Rebecca Matshidiso Moeti, WHO Regional Director for...

In several news reports, World Bank President David Malpass was recently quoted as saying some Multilateral Development Banks, including the African Development Bank, have a tendency to lend too quickly and in the process, add to the continent’s debt problems. This statement is inaccurate and not fact based. It impugns the integrity of the African Development Bank, undermines our governance...

The West African Development Bank (BOAD) has approved $3 million for the construction of a bridge and a road in Tibiri Gobir, over the Goulbi de Maradi River in Niger. This project covers the asphalting of 2km of road and the construction of a 300-meter bridge. This will enable the people of this locality to reach the town of Madarounfa by road. Until now, people travel between these two...

The Mobile World Congress set to take place from Feb 24-27 in Barcelona, Spain, is officially canceled due to the current outbreak of coronavirus. In a statement, GMSA, which organizes the event said: “the global concern regarding the coronavirus outbreak, travel concern, and other circumstances makes it impossible for the GSMA to hold the event.” The decision was announced after exhibitors...

Egypt-headquartered healthcare platform Vezeeta raised $40 million in a transaction led by the UAE-based asset management firm Gulf Capital and involving Saudi Technology Ventures, a Saudi Arabian venture capital firm that is already a shareholder in Vezeeta. Vezeeta, which enables patients to search, book and consult doctors and medical services online, plans to expand its health services...

Côte d’Ivoire successfully raised on February 11 a total of CFA60 billion (about $100 million) on the regional securities market through the issue of 12-month treasury bills (BATs) and 36-month fungible treasury bonds (OTAs). Initial target was CFA55 billion (about $31 million). The country mobilized CFA22 billion (about $36.5 million) with BATs while CFA37.7 billion came from...

South Africa’s event ticket booking platform Howler has secured a round of funding from US firm Techstars, the investment firm Platform Growth, and the software development company Platform45. Howler will use the resources to grow its foothold in sub-Saharan Africa and expand in Europe and Asia-Pacific. The company, founded in 2014 by Shai Evian and Steve Cuzen, says it has handled R1.5...

US tech giant Google announced the launch of a $1 million fund to support innovative ideas on online privacy, trust, and security in sub-Saharan Africa. “The fund will be administered by a third-party partner on behalf of Google.org, and we will be sharing details on application criteria and deadlines soon,” said Seember Nyager, the Head of policy and government relations at Google...