Currently, there are 34 poor countries (with annual per capita income equal or below $995), the World Bank group indicated in a report published on June 4, 2019. In 2003, there were 66 poor countries. Out of those 34 countries, 26 are in Sub-Sahara Africa. They include Mali, Niger, Eritrea, Madagascar and the Democratic Republic of Congo. Between 2003 and 2019, 32 countries have joined the...

Credit Bank Limited (CBL) will summon a general assembly meeting on June 27, 2019. According to Business Daily, during the assembly, shareholders will discuss an increase in the bank’s capital by Ksh2 billion (close to $19.7 million). Local media indicates that in the framework of this capital increase, Credit Bank will issue new shares that could be acquired either by existing...

In a recent report published by the economic forecast division at Morocco’s finance ministry, Morrocan commercial banks operating in Africa are invited to explore the growth opportunities offered by Islamic finance in the region. "The expertise acquired by those banks in the Moroccan market and the partnerships they developed with leading partners affiliated with Gulf countries are decisive...

In a research report published on June 10, 2019, Moody’s lowered South Africa’s 2019 economic growth forecast by 0.3% to 1%.   "The quarterly decline, the largest in 10 years, is credit negative for the Government of South Africa‘s (Baa3 stable) revenue and policy options…The first-quarter contraction presages low growth in the year as a whole," Lucie Villa, Moody’s lead sovereign...

Every year, 91 million Africans eat poor quality foods that make them sick. This was revealed by the World Health Organisation in a release published this week in the framework of the first World Food Safety day. According to the institution, 137,000 people die from these sicknesses every year. Those sicknesses are essentially due to poor hygiene, inadequate production and stocking environment,...

The National Information Technology Authority of Uganda (NITA-U) wants to increase the number of free wireless internet access points from 284 to 500 in the six coming months. Currently, these points are located in Kampala, Wakiso and Entebbe. According to Steven Kivenga, marketing officer at NITA-U, the priority zones remain rural areas where the national backbone has not been deployed...

From June 6, 2019, Amr Talaat, Egypt’s prime minister started an official visit in Japan. During the visit, he will discuss training, research and development cooperation in the artificial intelligence sector with his Japanese peer Masatoshi Ishida. This meeting is a sequel of the one held in Cairo on June 3, 2019, by Amr Talaat and Japan’s ambassador to Egypt Masaki Noke, for stronger IT...

The initiative Climate Research for development (CR4D) in Africa announces that a first group of 21 African scientists will each receive a grant of £100,000 for their researches on climate science and its impacts on politics, development and community decisions.   The laureates are from Benin, Côte d’Ivoire, Cameroon, Ghana, Ethiopia, Madagascar, Namibia, Uganda, Senegal and...

Despite a tumultuous economic environment, the South African private equity market’s performances were stable in Q4, 2018. This is revealed by a joint report published by research firm Riscura and the Southern Africa Venture Capital and Private Equity Association (SAVCA). “The latest [report] reveals that private equity’s performance relative to listed markets remains steady,” said...

During an audience with Ecobank’s high management, Nigerian president Muhamadu Buhari invited the pan-African group to support the creation of an agriculture fund in the country. According to the president, the bank’s support to the agriculture sector and to SMEs would generate economic activities in the country. “If assets and resources available to Nigeria were properly managed, she...