The Central Bank of Kenya (CBK) will introduce new banknotes, Patrick Njoroge (photo), the governor, announced last weekend. According to the official, this is to tackle illicit financial flows that affect the country’s economy.  By October 1, 2019, old Ksh1000 notes should also be removed. “We have assessed the grave concern about our large banknotes particularly the older Sh1000...

The European Union (EU) will raise €99.5 million to support the most vulnerable communities in the Horn of Africa. This was announced by the European Commission in a release published on May 29, 2019. “The nearly €100 million we have approved will support vulnerable communities, contributing therefore directly to that peace and stability," said Neven Mimica (photo), Commissioner...

“When you put your forces together, you can achieve the critical mass to be solid player on the global scene,” African Development Bank's Chief Economist and Vice President of Economic Governance & Knowledge Management Celestin Monga told journalists at a press conference ahead of the Bank's Annual Meetings. Equatorial Guinea will host the Bank's 54th Annual Meeting, from 11-14 June 2019,...

Last week, PT Ventures, subsidiary of Brazilian group Oi, agreed to sell the 40% stake it had in Cabo Verde Telecom. These stakes were jointly acquired by Institut national de sécurité sociale (INPS) and Agence de sécurité aérienne et aéroportuaire (ASA). Following PT Ventures’ withdrawal, Cabo Verde Telecom’s shareholding is now as follows; Institut national de sécurité sociale...

Turkish real estate group Onsan Group has been awarded a $520 million contract to build 10,000 social housing in Angola. This was reported on May 30, 2019, by Turkish media Anadolu Agency, which cited the group’s CEO Fikri Coşkun. The executive indicated that his group was planning to invite president Recep Tayyip Erdoğan for the social housing project’s foundation stone laying...

The ECOWAS Bank for Investment and Development (EBID) has just launched a bond issuance operation. The aim of this operation, approved by the regional council for public savings and capital markets, is to raise XOF25 billion in order to fund seven (7) projects in the energy, industry, hospitality and financial sector. These projects will be implemented in Benin, Côte d’Ivoire, Burkina Faso,...

Ghana will integrate climate action into its development agenda, president Nana Akufo-Addo (photo) informs.   The official indicates that the Paris agreement and Goal 13 of the Sustainable Development Goals (SDG) provide the required framework to integrate mitigation and adaptation measures in national policies, strategies and plans. During the R20 climate summit in Australia, Akufo-Addo...

Germany recently suspended financing of $106 million in favour of Uganda, the German ambassador in the country Albrecht Conze revealed last week. The funding should have been granted in the framework of a refugee support plan but, it was suspended due to a fraud case involving numerous Ugandan officials. In 2018, an investigation launched by the United Nations revealed that some Ugandan...

Telnet Holding, a Tunisian tech group, announced on May 28, 2019, that it would open a subsidiary in Saudi Arabia in collaboration with a local partner. It indicated that a partnership agreement has been signed in that regard with Middle East Fiber Cable Manufacturing (MEFC) to launch a new entity.   Baptized Telnet Arabia, the new subsidiary will operate in space and earth...

Telecommunications infrastructure operator Guinéenne de large bande (Guilab), signed a partnership agreement with Facebook for the installation of a CDN network.    According to Guilab, this is a strategic partnership because it will help improve the user experience since it will reduce cost and improve loading time.    Mohamed Diallo, managing director of Guilab,...