$200 million will be invested in Egypt by Americans, by the end of 2018, Gold Burger, Chief of Mission at the US embassy in Egypt announces. This was announced today during the visit of a delegation of 44 American companies in Egypt in the framework of a conference of the American Chamber of Commerce (AmCham), ongoing from October 23-25, . Gold Burger also indicates that $30 million will...

The Government of the Republic of South Sudan today welcomed a contribution of US$ 43.57 million from the African Development Bank for the implementation of the country’s Short-Term Regional Emergency Response Project (STRERP). The project is designed to enable the Government meet the country’s growing food and nutrition needs, while building community resilience, as hunger reaches...

The risk of a new debt crisis is looming over African countries, Ecofin Agency deduced from corroborative data. In a recent note published by Moody's on the public debt of frontier markets' governments, it is revealed that starting from 2019, an important part of public budgets and foreign reserves will be used to pay international bonds. For instance, Zambia will have to refund about $3...

On October 20, 2018, Egypt’s ministry of ICT signed an agreement with Intertek, specialized in inspection, physical tests, and certification. This agreement was for the construction of an international laboratory for testing and certification of electronic products in Sadat technology park. The 3-year agreement was signed by Hossam Othman, advisor to the country’s minister of ICT and...

Morocco launched, on October 22, 2018, the experimentation phase of its telemedicine project.  Steered by Société marocaine de télémédecine (SMT), the project was deployed in the health centers of Anfgou and Imilchil in the Midelt province Zaouïat Ahensal in Azilal province. In November 2018, three new rural sites will be added to this experimentation phase. They are namely Ait Tamlil...

Between late June 2018 and late September 2018, Dodge & Cox, a large American institutional investor sold about 18.6 million of the about 114.4 million shares it owns in the South African telecommunications group MTN, Ecofin Agency noted from corroborative sources. The company makes no specific comments on this sale but, it explains that the problems MTN Nigeria is being confronted with...

In an interview with the Financial Times, José de Lima Massano (photo), governor of national bank of Angola, indicated that commercial banks that would not meet the capital requirements would be severely sanctioned.   During an Africa-focused event organized in London, the official indicated that some banks would be able to meet the requirement but those financial institutions that would...

Kenya lost about $2.7 billion in the past three years due to its tax exemption policy, John Njiraini (photo) Commissioner General of the Kenya Revenue Authority (KRA), said in an interview with Bloomberg. According to the official’s statements relayed by the American media, the country loses between Ksh85 billion and Ksh90 billion ($840.9-$890.4 million) every year. This situation is...

Ahead of its maiden African Investment Forum next month, the African Development Bank continues to see another year of sustained indicators, underlined by a stellar Triple A rating by all three major agencies and sharply increased earnings. The inaugural Forum takes place 7-9 November 2018 in Johannesburg, South Africa, offering a platform for sourcing funding for bankable African projects,...

The Board of the Green Climate Fund (GCF) has approved funding for three proposals from the African Development Bank totaling over US$110 million. The approvals were granted at the GCF’s 21st Board Meeting held October 17 – 20 2018 in Manama, Bahrain. Overall, the GCF Board, which was co-chaired by Paul Oquist from Nicaragua, and Ambassador Lennart Båge from Sweden, considered 20...