Cabo Verde plans to open 10% of the capital of state-owned airline company Cabo Verde Airlines (TACV) on the local stock exchange. This was announced by the state minister of parliamentary affairs Fernando Elísio Freire (photo) announced on April 29, 2019. According to the official’s statement relayed by local media Inforpress, 100,000 shares are to be listed at CVE1,457 ($14.78) each. He...

Safaricom and Equity Bank announced, on April 29, 2019, their partnership to boost financial inclusion in Kenya.   The two firms plan to create financial products that are more inclusive, examine regional synergies, simplify the fund transfers between their agents and share technical expertise to set a common approach for the fight against various risks including cybersecurity. For Bob...

In a release published on April 29, 2019, the Wifak International Bank announced that it has received the approval of a TND10 million ($3.3 million) sukuk issuance. This amount could be increased to TND20 million. In the framework of that operation, 100,000 bonds of a nominal value of TND100 each will be issued. The subscription period is May 10 to June 30, 2019. The operation is aimed at...

The construction of “Mohammed VI Tangier Tech” will not be abandoned despite the rescission of Chinese group Haite. Indeed, a memorandum of understanding for the development of this industrial city was signed on April 26, 2019, in Pekin during the second Belt and Road Forum. It was signed by société d’aménagement Tangier Tech (SATT), China Communications Construction Company...

Japan is preparing the launch of a trade insurance solution covering the entirety of exports and loans for the infrastructure sector in Africa. According to the Nikkei Asian Review revealing the information on April 29,2019, by launching this credit insurance, Japan wants to catch up with China in the continent. This solution will be launched in the framework of a partnership between the Nippon...

Somalia will soon launch the construction of its first National Innovation Center (SO NICE), Abdi Ashur Hassan (photo), the minister of posts, Telecommunications and technology, indicates. The infrastructure will help create an innovative digital ecosystem in the country and boost the advent of the digital economy. The centre will be installed in the headquarters of former incumbent operators....

Mauritius Telecom (MT) will soon launch the mobile money service, Sherry Singh (photo), the incumbent operator’s CEO, announced on April 24, 2019. The announcement was made during the opening ceremony of the 39th edition of the conference of the Southern Africa Telecommunications Association (SATA), which he will preside for the 2019-2020 period.   According to the executive, the service...

The Agent Banking Company, that gathers banks and financial institutions on the same platform, and the International Finance Corporation (IFC) signed a $1.9 million agreement to develop a network of banking agents in rural zones within 30 months and boost access to financial services. In Uganda, 41% of the adult population living in rural zones has no access to financial services, the IFC...

The European Investment Bank (EIB) is considering an investment of $20 million in the first investment fund launched by Okavango Capital, private equity based in Kenya, to make impact investments in SMEs in East and Southern Africa. The investment strategy of this private equity consists of supporting firms in the food safety, climate technology and nature tourism sectors. The target...

Kenyan exports to the USA in the framework of the African Growth and Opportunity Act (Agoa) rose by 25.8% in 2018, the Kenya National Bureau of Statistics (KNBS) announced in a recent report. In the report, the KNBS indicates that these exports, mainly made of textile products, grew from Ksh33.1 billion in 2017 to Ksh41.6 billion in 2018. The exports under the AGOA agreement represented 88% of...