The extraordinary general meeting of Tunisie Leasing & Factoring (T&F) decided to increase the company’s social capital by TND6.7 million (from TND45 million to [$15.4 million] to TND51.7 million [$17.6 million]). This will be done by the issuance of 1.3 million new shares at TND15 each. These shares are prioritarily reserved for the company’s shareholders and will help the company boost its...

More than half of the taxes paid in Côte d’Ivoire were done online by end June 2018, Adama Koné (photo) the minister of finance revealed during the launch of the 9th yearly conference on Ease of Doing Business Initiative (EDBI). This equals XOF553 billion (about $950 million) if we consider the XOF1,106.1 billion (about $1.9 billion) collected by the country during H1,...

In a recent report published by the audit firm PwC, it appears that in 2050, China and India will respectively be the first and second world's leading economies in terms of GDP per capita, ahead of the United States of America relegated to the third place. Another major information is that Germany (9th) and the UK (10th) will be the only European countries in the top 10 of that ranking....

The African Development Bank has approved a €17.96 million loan to the Republic of Cameroon to finance the construction of a Ring-Road Project in the North-West Province of the country. The Ring Road project, which falls under phase three of the country’s Transport Sector Support Programme, aims to improve the movement of goods and people. It will also strengthen the foundations for...

If you have visited Rwanda, no doubt you would have heard of Umuganda, a vast clean-up operation that takes place every last Saturday of the month. The transformative civic operation has gained the country global recognition. Umuganda means “coming together for a common purpose to achieve an outcome.” That is exactly what the 13th African Economic Conference (AEC), to be hosted in Kigali...

Vneshtorgbank, Russian Foreign Trade Bank, mistakenly assigned a $12 billion loan as granted to the Central African Republic, Reuters reported. The loan was mentioned in a quarterly report published by the Russian bank. In that report, there was a chart listing VTB’s outstanding loans to a dozen countries at the period ended October 1, 2018. In the chart, next to the Central African...

Even though they performed better than reference index funds (MSCI Emerging & Frontier Market ex SA, S&P Pan-African ex SA), funds investing in African stock exchanges excluding the Johannesburg Stock Exchange are having a difficult year. At the period which ended October 2018, the most performing of those funds Allan Gray Africa ex South Africa Fund had a negative performance of -2.1%. In other...

Request a passport, birth or death certificates and access official documents online or receive goods bought online are the services Zimbabwe post (Zimpost) aims to offer residents in the coming years.   This shift from its traditional services of sending and receiving mails is aimed at preserving Zimpost from the bankruptcy which was looming over it with the development of ICT.  The...

Etisalat Misr, the third operator in the Egyptian telecom market in terms of subscribers, launches its activities in the fixed telephony segment. The new service is launched in accordance with the give-and-take agreement met in 2017 with the regulator. That agreement specified that the introduction of Telecom Egypt, the incumbent carrier, in the mobile telephony segment would also allow mobile...

On November 26, 2018, Algerian public oil company Sonatrach and Chinese conglomerate Citic signed an agreement for the construction of a phosphate extraction and processing complex in Tébessa (630 km East of Alger), requiring a $6 billion investment, the official news agency APS revealed. This complex which should enter into production in 2022 will help Algeria increase its yearly...