The South African subsidiary of audit firm KPMG is actually wooing its public after scandal-marred months, an op-ed published by many South African media on December 10, 2018, reveals. The publication signed by Wiseman Nkuhlu, managing director of the institution, indicates that nowadays, KPMG is really different from what it was eighteen months ago. "I would like to make an appeal to South...

The International Monetary Fund (IMF) approved a $3.7 billion extended credit facility for Angola, a release published by the institution informed last week. The new agreement, which spans over three years, is aimed at helping the government lay the foundations of a diversified economy with a growth mainly spurred by investments in the private sector. The reduction of the country’s debt,...

Benin will be provided $22 million by the International Monetary Fund (IMF), a release published by the institution last week indicated. This tranche which is part of the $154.2 million extended credit facility granted to the country in 2017 should help support the economic and financial reforms initiated by the government to preserve the macroeconomic stability and raise the...

During the workshop baptized "Start-up Friday", organised on December 5, 2018, Isa Ali Ibrahim Pantami, general director of National Information Technology Development Agency (NITDA) of Nigeria, revealed that IT startups generated $101 million for the country’s economy from January to September 2018.   According to this official, these innovative firms generated $9 million for...

Morocco’s telecommunications regulator (ANRT) is currently elaborating actions that will develop its national telecommunication sector in the coming four years in its 2019-2022 general guidance paper. The new guidance paper should take into account technology evolution, the coming 5G network, the evolving big data, blockchain, virtual reality, Internet of Things, that are shaking the bases and...

On December 7, 2018, the share of Kenyan bank NIC Bank rose by 32.45% on Nairobi stock exchange, to reach Ksh30 ($0.2930) a day after the announcement of discussions about a merger with Commercial Bank of Africa (CBA). NIC Bank and Commercial Bank of Africa announced, in a joint statement published on December 6, 2018, that they would initiate discussions on an eventual merger.   NIC Bank...

In a statement published December 6, 2018, Bank Windhoek announced that it issued NAD66.60 million ($4.74 million) of green bonds, thus becoming the first credit institution in Namibia and in southern Africa to issue such bond aimed at funding eco-friendly projects. The bonds, which will be listed on the Namibia Stock Exchange, have a coupon equivalent to the three-month Johannesburg Interbank...

The AfDB and the Federal Government of Nigeria have launched the Inclusive Basic Service Delivery Livelihood Empowerment Integrated Programme ­ ̶ a US$258 million comprehensive multisectoral intervention aimed at bolstering rehabilitation efforts in north-eastern Nigeria. Nigeria’s Vice President Yemi Osinbajo launched the program at the African Development Bank premises in Abuja on...

A truly successful implementation of the African Continental Free Trade Area agreement cannot be achieved without the “people dimension,” which ensures that the integration process will be inclusive and not lead to inequalities. In an interactive plenary session with experts and policy makers on the final day of the African Economic Conference, delegates discussed the risks of integration,...

The African Development Bank has approved a US$ 35 million loan for the Shire Valley Transformation Program - Phase 1 (SVTP-1), aimed at reducing poverty through the development of agricultural value chain and climate adaptation mechanisms. The Shire Valley Transformation Project will provide access to gravity fed irrigation and drainage services to the Chikwawa and Nsanje Districts south of...