Ethio Telecom aims to be a key player in Ethiopia's digital transformation. The incumbent operator signed a smart city agreement with the administration of Addis Ababa in June 2023. Ethio Telecom is set to launch a smart city project in Bahir Dar following the deployment of commercial 5G services. Yesterday, the state-owned company announced that it signed a memorandum of understanding with the...

Intelsat has been facing multiple issues with its satellites in recent years. These recurring failures affect millions of customers. Luxembourg-based satellite telecom provider Intelsat announced yesterday that its IS-33e satellite has ceased functioning following a power failure. This high-throughput satellite (HTS), designed by Boeing and positioned in geostationary orbit (GEO), experienced a...

British investment firm Helios continues to expand its commitment to the food sector in North Africa. It is seeking a substantial minority stake in Egypt's second-largest exporter of frozen products. Helios Investment Partners, an Africa-focused private equity firm managing over $3 billion in assets, has offered to acquire a 49% stake in Raya Foods, Egypt’s second-largest exporter of...

Morocco plans to focus more on public investment in 2025, emphasizing boosting social projects to drive development and improve living conditions for its people. The Moroccan government plans to invest MAD340 billion ($34.4 billion) in public projects in 2025. The announcement was made by Nadia Fettah Alaoui, the Minister of Economy and Finance, during the presentation of the 2025 draft finance...

Since July 2022, Benin has been receiving support from the IMF through a combined agreement under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF), along with funding from the Resilience and Sustainability Facility. An IMF team visited Cotonou from October 8 to 17, 2024, to check on the progress of these reforms. Benin is set to receive around $95 million from the...

Creative and cultural industries have the potential to be a key driver of economic growth in Africa. According to UNCTAD, this sector generated $4 billion on the continent in 2022, showcasing its significant impact. The opportunities for further development in this area are immense. The African Export-Import Bank (Afreximbank) announced on October 18 that it will double funding for its...

Senegal serves as a key transit hub for migrants heading to Europe. In 2023, nearly 12,833 migrants reached Spain, with 9,319 identifying as Senegalese nationals, according to Senegal's Ministry of Foreign Affairs. European Commissioner for International Partnerships, Jutta Urpilainen, announced the disbursement of €30 million (about $32.5 million) to help Senegal combat irregular...

Mali plans to repay about $1.015 billion in domestic debt under its 2024 budget plan. The Malian government is set to raise nearly CFA200 billion ($331.3 million) by the end of 2024 to reduce domestic debt. This was announced by Alousséni Sanou, Mali’s Minister of Economy and Finance, during a meeting with business leaders on October 18. The session was broadcast on the public TV channel...

This initiative is one of the outcomes of the national economic reform program launched by Prime Minister Abiy Ahmed in 2018, with support from the International Monetary Fund (IMF). Ethio Telecom, Ethiopia’s incumbent telecom operator, is opening 10% of its shares on the local stock exchange. The move involves 100 million ordinary shares priced at 300 birr each (about $2.51), with the...

Gide’s Casablanca, London and Brussels offices assisted the International Finance Corporation (IFC, part of the World Bank Group), FIPAR Holding (an investment firm owned by the Caisse de Dépôt et de Gestion of Morocco) and CDG Invest Growth (through its fund Capmezzanine III) on their investment in Retail Holding, a leading food and consumer goods retailer with operations in Morocco,...