The announcement of Muhamadu Buhari’s re-election must have surely pleased his supporters but, on the country’s stock exchange and at the international level, sentiments are mixed. On Wednesday 27 February 2019, the NSE All-Share Index, the main index of this market barely took off, with +0.06% after a slowdown in the performance of the shares. As far as the NSE30, which gathers the 30 most...

In Zimbabwe, US dollar-denominated transactions will now be limited, Reuters, indicated this week citing a release published by the Central Bank of Zimbabwe. In the framework of the new measure, commercial banks will have to limit transactions in US dollars to firms and individuals that have to send money abroad. This measure is initiated after the country introduced a new currency (RTGS...

Muhammadu Buhari (photo) has just been elected for a new 4-year term in Nigeria, according to results published by the Independent National Electoral Commission (INEC) early today. The former military obtained 15 million votes (56%) against 11 million (41%) for his main challenger Atiku Abubakar. According to information relayed by Radio France Internationale (RFI), the outgoing president was...

International Facilities Services (IFS), which provides facility management services in 16 sub-Saharan African countries, received a $35 million boost. The investor is the London-based private equity Development Partners International (DPI) that announced this investment made out of its African Development Partners II. The funds provided should help fund IFS’ growth strategy in new...

Telecom Egypt signed a partnership agreement with Huawei the first day of the Mobile World Congress, which was launched on February 25, 2019, in Barcelona, for cloud computing. According to the Egyptian minister of communication and information technology Amr Talaat, the agreement allows Huawei to develop its own cloud computing system via Telecom Egypt’s data centers.   Adel Hamed,...

Saham Assurances published mixed results for 2018, Ecofin Agency learnt from a note to Casablanca stock exchange. During the period under review, its turnover rose by 7.8% year on year to reach MAD5.22 billion ($547.5 million). This performance was supported by its non-life segment whose turnover rose by 9.7%. But, this good performance was affected by the increase of the sinistrality, which...

By March 2019, the digitalization of the ministry of immigration will become effective in Malawi. The aim is to facilitate users’ access to the service and improve the services quality of the ministerial department. Various processes and related payments can thus be done online. There will be no need to go to the ministry to request passports, a working visa, a residence permit or other...

In Côte d’Ivoire, fees on mobile money transactions have increased by 7.2%. Mobile money operators are thus passing the 7.2% tax imposed on their turnover by the 2019 fiscal appendix onto their end-clients. This increase in fee occurs a month after the fiscal appendix entered into force (January 1, 2019).   Competent authorities denounced the passing of this tax onto the...

Ethiopia wants to build a new $70 million road axis, Samson Wondimu (photo), communication manager of the Ethiopian roads authority, indicated this week. According to the official’s statement cited by Xinhua, the new construction will span over 73 kilometres and is fully funded by the government. It should be constructed by Bejing Urban Construction Group, a Chinese company, within...

Although little known to African public opinion, Swedfund, the Swedish government's main development finance institution, concentrates a very important part of its efforts on the continent. At the beginning of this year, the Chief Executive Officer agreed to share with Ecofin Agency the evolution and prospects of her institution, related to the African’s private equity landscape. Ecofin...