In H1, 2018, the Zimbabwean banking sector realized $176.1 million of net profit, according to data gathered by Ecofin Agency. This represents a record level for the period since 2014. In addition, there was a significant decrease in the burden of bad debts in the loan portfolio. From the highest level of 20.45% reached in September 2014, it continually dropped to reach 6.22% which is the...

On Friday, November 16, 2018, Allianz SE commented on the information according to which it reached an agreement with Sunu Participations for the sale of some of its African assets. "This information has been published without our approval and Allianz group cannot confirm it", a manager at the group’s operations in Africa answered in a mail sent by Ecofin Agency. Indeed, according to some...

Dame Graça Machel, one of Africa’s foremost advocates for the rights of women and children, has called on African women and policy makers to challenge gender inequality and inadequate female representation in the continent’s business and economic, political and policy space. “Africa’s socio-economic transformation will only be realized once we aggressively address gender-specific...

The Board of Directors of the African Development Bank has approved its third equity investment of US$40 million in Africa Infrastructure Investment Fund (AIIF3), a closed-ended pan-African infrastructure fund managed by South Africa-based Africa Infrastructure Investment Managers (AIIM). AIIM is one of Africa’s most experienced infrastructure fund managers. The Fund will focus on acquiring...

World Bank suspended a $300 billion support to Tanzania, Reuters revealed on November 16, 2018, citing official sources. According to information reported by the American media, this decision is consecutive to the country’s relaunch of a measure aimed at preventing schooling girls from attending school once they get pregnant. Standing against this measure, World Bank decided to suspend...

Today, November 16, 2018, the reduction of taxes on mobile money withdrawals is coming into effect in Uganda. Mistakenly set to 1% by the president Yoweri Museveni, the tax which came into effect on July 1, 2018, was reduced to 0.5% in mid-July 2018. However, until today, it was the 1% which was still applied. The president "has approved the law within the statutory time periods and it will be...

On November 14, 2018, the South African public Internet access provider Broadband Infraco signed a partnership agreement with Angola Cables, the Angolan supplier of optical fiber connection. The agreement plans for the interconnection of more than 14,960 km long South African terrestrial network of optical fiber to Angolan international submarine cables. During the signature at the AfricaCom...

In an interview with Economiste Maghrébin, Bilel Sahnoun, managing director of Tunis stock exchange, indicated that the listing of some public firms would improve the stock’s exposure to international investors. Even if most of those state companies are plagued by structural deficit, the director thinks that their listings could be a better way to improve their management. He also estimates...

Côte d’Ivoire aims to boost public administrations’ internal audit capabilities. In that regard, the general inspectorate of finance organised an awareness-raising campaign on transparency and the management of public affairs thanks to a control and audit system. The seminar which started on November 12, 2018, is to end today November 16, 2018. The theme for this seminar co-animated by...

The African Development Bank (AfDB) has launched a flagship economic report on Zimbabwe, titled: “Building a new Zimbabwe: Targeted policies for growth and job creation” which aims to support renewal and transformation of the country. Prepared by the Bank Group’s Economic Governance and Knowledge Management Vice-Presidency, the report was presented in a plenary meeting by the Bank’s Lead...