Norway has just allocated 40 million Norwegian Kroners ($4.4 million) to Malawi for the second phase of the Agriculture Sector Wide Approach Support Project (ASWAp SPII). Funds will be channeled through the Multi-Donor Trust Fund (MDTF) managed by the World Bank. This framework program aims to increase and diversify the country’s agricultural production with the promotion of climate-resilient...

Rand Merchant Investments, through its fintech investment arm AlphaCode, got a 25.1% minority stake in health startup Guidepost. The amount of this transaction is not disclosed yet but Guidepost will use the money to expand its network of partners working to improve access to care for diabetic patients. Based in South Africa and London, Guidepost is a platform that connects people with diabetes...

In the first half of 2019, the debt of emerging countries hit a new record of $71,400 billion, making 220% of the group’s GDP. China, which is still regarded as an emerging market, accounts for a big share of this debt. The data was revealed in a recent report by the Washington-based Institute of International Finance (IIF) that tracks global macroeconomic developments. Debt generated by...

Pan-African Submarine cable operator Seacom announced it is partnering with data center provider Raxio Data Center Ltd to offer Ugandan customers a wider range of digital services. The telecom company intends to rely on the Raxio Uganda data center, currently under construction in the country and expected to be ready for use by the first quarter of 2020. According to Tonny Tugee, Seacom’s...

A pipeline explosion that occurred yesterday November 13 killed 6 and injured 16 others in Egypt’s Northern Province of Bahira. The sad news was announced by Abdelmoneim Hafez, head of the national oil pipelines authority, who stressed that the fire was caused by an oil leak which was the work of thieves siphoning off oil. According to official report, the pipeline exploded precisely near Itay...

The African Development Bank (AfDB) has just published its 2019 Africa visa openness survey that measures the level of openness of African countries' borders to travelers. The ranking is based on four criteria including the issuance of visas, the ratification of the African Continental Free Trade Area (AfCFTA), accession to the African Single Transport Market, and the implementation of the...

Power Africa reaches a deal with Africa50 to raise funds for the electricity sector in Africa. The collaboration will also focus on the development of innovative public-private partnership models in sub-Saharan Africa. “Energy generation and transmission are among the most pressing infrastructure needs in Africa, with important economic multiplier effects. To successfully develop energy sector...

Venture capital company CVentures made its first investment since it launched activities in December 2018. Along with Algebra Ventures and ASI Ventures, the company co-injected $1 million in the Egyptian heath tech startup Yadowy, a start-up company founded in 2018 by Karim Khashaba, Sherief El-Feky, and Yasser AbdelGawad. The start-up, which allows users to order medicines and...

It was deals that brought participants to the 2019 Africa Investment Forum and they were not disappointed. The second Forum ended on a high note Wednesday, with 56 boardroom deals valued at $67.6 billion tabled - a 44% increase from last year. Fifty-two deals worth $40.1 billion secured investor interest compared with $37.8 billion dollars last year. During the 2018 edition of...

The Tunisian Stock Exchange (BVMT) experienced its lowest transaction value in the third quarter of 2019, since the fourth quarter of 2017, we learned. The value of transactions carried out on the market over the three months ending at the end of September was TND258 million, down for the third consecutive time since the beginning of the year. Tunindex, the benchmark index for all companies in...