In Senegal, SMEs make up 98% of the economy, yet they only access 9% of available credit, largely due to the banking sector's reluctance to lend. The African Guarantee Fund West Africa (AGF WA) has signed a CFA3 billion ($5 million) financing guarantee agreement with BGFIBank Senegal to support small and medium-sized enterprises (SMEs) in the country. The deal, finalized on October 21 in Lomé,...

After focusing on North Africa since its launch in 2010, the Egyptian VC firm plans to gradually expand its operations into sub-Saharan Africa, starting with Kenya and some West African countries. Egyptian venture capital firm Sawari Ventures is launching a new $200 million fund. With Sawari Ventures II, the company will invest in sub-Saharan African startups for the first time, according...

In its latest report, the Mo Ibrahim Foundation reviewed governance trends in Africa from 2014 to 2023. A total of 33 countries improved, while 21 saw declines. The foundation emphasized the need for more reliable data to help strengthen public policy. More than 77% of Africa’s population lives in countries where security and democracy have worsened over the past decade, according to the "2024...

African countries need to reform their tax systems, which currently average around 17% of GDP, according to UNECA. Key priorities include broadening the tax base and integrating the informal sector. However, beyond national reforms, a fairer international tax system is essential to address the annual losses of $75 billion. A recent report from the United Nations Economic Commission for...

Sub-Saharan Africa continues to capture investor interest, especially in mining, energy, and tech. The region’s natural resources, growing population, and digital shift fuel M&A activity, with more than 300 deals closed last year. Sub-Saharan Africa’s merger and acquisition (M&A) market remains dynamic after a record year in 2022. Despite political turbulence and economic challenges,...

The key trends shaping Africa's commerce sector in the coming years include the rise of the mobile economy, the rapid growth of embedded finance, the widespread use of super apps, and the implementation of the AfCFTA protocol on e-commerce. The size of Africa's e-commerce market is forecasted to double over the next five years, reaching $113 billion by 2029, according to an October 10...

The article highlights that while Chinese investments are a key part of capital inflows to Africa, they are not as large or transformative as official announcements may portray. Hinrich Foundation, a Singapore-based organization that promotes sustainable global trade, released findings from its study on Chinese direct investments in Africa on October 15. The analysis clearly states that these...

In its updated global economic outlook, the IMF maintained its 2024 global growth forecast at 3.2%, while sub-Saharan Africa’s projection was revised down by 0.2 percentage points compared to April. Sub-Saharan Africa is expected to grow by 3.6% in 2024, down from April’s 3.8% forecast, according to the latest World Economic Outlook report from the International Monetary Fund (IMF) released...

While the projected tax revenues for 2024 in Côte d'Ivoire are estimated at CFA6,121.40 billion (just over $10 billion), the collection rate as of the end of September stands at 51.75% of this annual target. Côte d'Ivoire’s Directorate General of Taxes (DGI) reported collecting CFA3,168.3 billion (about $5.2 billion) in the first three quarters of 2024. This information comes from...

Some governments impose strict restrictions on internet users for various reasons. In Africa, while these actions are widespread, some countries make an effort not to oppress their citizens for engaging in online activism. Freedom House, a U.S. organization that advocates for global freedom, released a report on October 16 that ranks South Africa, Ghana, and Kenya as the top three countries for...