Nigerian Communications Commission (NCC) delivered Broadband Infrastructure deployment Licences to six companies, Umar Garba Danbatta, executive vice president of NCC, revealed last week during the Broadband Engagement Forum in Kano. The companies were authorized to deploy optical fiber in Lagos as well as in the Southwest, Southeast, Northwest and Northeast. As far as the North-central...

On October 22, the Central Bank of Nigeria (CBN) raised the minimum capital requirement for microfinance institutions to enhance the solidity of the sector. In a circular addressed to the operators, it is indicated that the minimum capital requirement for microfinance institutions operating in the country has been increased from NGN2 billion to NGN5 billion ($13.8 million) while for institutions...

On October 19, 2018, in Abidjan, Oragroup officially announced the IPO process for its listing on Bourse Régionale des Valeurs Mobilières (BRVM), WAEMU’s stock exchange. Today October 25, the pan-African banking group step further in that perspective. Indeed, it will present the public offering of 13,883,006  shares in Lomé. According to Binta Touré Ndoye, managing director of the...

Tunisia raised €500 million ($570 million) through a Eurobond issuance at 6.75% interest rate, Reuters reported quoting official sources.   The Eurobond which was reduced from the planned $1 billion to $570 million aroused the interest of about 120 investors and the orders reached $1.42 billion. The interest rate of this issuance which is aimed at financing the...

South African economic outlook seems to be gradually worsening. Indeed, in his first presentation of the budget, the new finance minister Tito Mboweni (photo), indicated that the country’s growth could be less than forecasted.   The official announced that 2018 economic growth would be 0.7%, representing less than half of the figures announced previously. The recent recession into which...

On October 23, 2018, Nana Akufo-Addo (photo), Ghanaian president, inaugurated the common platform for telecommunications supervision. The infrastructures built by Kelni GVG will allow the national Communications Authority to monitor international telecommunications traffic in real time. This tool will help the government levy the exact tax on international calls. The infrastructures which can...

Angola Cables, the Angolan public company specialized in the supply of internet connection via optical fiber, signed a commercial agreement with Silica Networks, subsidiary of Datco infrastructures supplier and optical fiber transport and maintenance service provider. This agreement is to boost the internet capabilities of Silica Networks in Argentina and Chile. In the framework of that...

Ethiopian Airlines, the renowned African company, aims to become the main airlines company at the service of intra-African trade and investments, its CEO Tewolde Gebremariam (photo) said during the World Investment Forum being held in Geneva, Switzerland. "Developing trade and investments in Africa requires important transport medium and we, at Ethiopian Airlines, are working to answer this need...

A consortium of international banks has agreed to collaborate with Papersoft Africa and iVIDIX on an open platform to offer access to innovative funding mechanisms to a million project carriers in Africa. The platform should first be launched in DR Congo and Somalia. Via the Blockchain (a secure data storage and transmission technology) and cryptocurrency technologies, project carriers that had...

On October 23, 2018, Moulay Hafid Elalamy (photo), the Moroccan minister of industry, trade, investment, and digital economy announced that the investments commission has approved 68 projects and amendments to investments agreements for a total amount of MAD57.65 billion ($6.07 billion). According to the official, those 68 projects that could create 9,266 direct jobs were approved following two...