The European Investment Bank wants to support the development of Angola. The bank says it is considering investing €30 million ($33.7 million) in high growth potential Small- and mid-sized companies. Funds will be managed by commercial banks operating in the country. Marc Leistner, representative of Angolan Bank, indicates funds are expected to be available by 2020 but before that, EIB...

Diaverum, a company specializes in the diagnosis and treatment of renal diseases, enters the African market, first implanting in Morocco. Statistics show more than 25,000 people suffer from such maladies in the country. As part of its expansion, the renal healthcare specialist has partnered with the Marrakech Hemodialysis Center (CHM) to strengthen its nephrology care offer to patients in this...

The government of Zimbabwe says, as part of its ambition to boost the telecoms sector, it is planning to sell the majority stake it holds in TelOne and NetOne. This was reported last week by the finance minister, Mthuli Ncube (photo), during a press conference. According to him, the two still State-owned companies will be privatized through a single offer; that way, transactions will be eased...

Uganda is launching a new car assembly plant worth $263 million, Isaac Paul Musasizi, the Managing Director of State-controlled Kiira Motors Corp, told Bloomberg during an interview.The plant, which is expected to enter into production by 2021, will produce 5,000 cars a year in Phase I and this capacity will be extended to 150,000 cars (buses, trucks, pick-ups and sports utility vehicles)...

The African Development Bank Group on 16 July 2019, announces the debarment of Lutoyilex Construct Limited, a construction company registered in Nigeria and its Managing Director, Mr. Bamidele Obiniyi (also known as Mr. Bamidele Abayomi) for a period of 36 months. An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Lutoyilex Construct Limited...

The amount of money transferred via mobile phone during the first quarter this year in Zambia reached $652.1 million, ZMW8.15 billion, the Central Bank revealed. This volume is the highest ever reached for a first quarter since 2012, and is more than twice the amount in Q1 2018 (ZMW3.68 billion). The Q1 2019 amount is also much more than the total value of the transactions made...

Inflation in Zimbabwe soared at 175.66% at the end of June this year, the highest rate in 10 years, local media revealed. The previous month, the rate was 97.9% and was already regarded as a threat. Observers fear a situation like the hyperinflation period that put the country in a crisis whose effects continue to be felt on the economy. This further increase in inflation comes less than three...

Some Nigerian investors, shareholders in insurance companies, have submitted a request asking the national insurance regulator to give them additional 3 or 5 years on the initial deadline to comply with the minimum capital requirement. This was reported by local media. Initial deadline was June 30, 2020. The investors say the additional time will enable them mobilize funds needed for the...

The President of Zambia removed yesterday July 14 the Finance Minister, Margaret Mwanakatwe (photo), who took office last year, an official statement informed. She is replaced by Bwalya Ng'andu, Deputy Governor of the Zambian Central Bank who is taking office today July 15, 2019.The statement gave no details about the President’s decision but this dismissal occurred in a context where Zambia is...

The Egyptian ICT Minister, Amr Talaat (photo), inaugurated last week the country’s new National ICT Monitoring Center.The center is affiliated with the National Telecommunications Regulatory Authority (NTRA) and based in the Smart Village. With this new development, the Egyptian government is confirming its ambition to improve the quality of telecommunications and Internet services provided to...