The newly formed company aims to serve nearly 12 million low-income Egyptians, offering insurance products tailored to their needs. Axa Egypt, a leading insurance provider, has partnered with Egypt Post, the country’s government postal service, to launch a new micro-insurance company. The announcement was made on October 3. The company aims to provide affordable insurance services to 12...

As Africa accelerates its digital transformation, leveraging AI, cloud technology, and advanced content services has become essential for consumers and businesses. These tools enable users to experience efficient and responsive digital services that support a shift toward a more interconnected and tech-driven landscape across the continent. Vodafone and Google have announced a ten-year agreement...

Last May, participants in Mali's national dialogue suggested extending the transition by three more years and allowing Colonel Assimi Goïta, the current transitional president, to run in the presidential election. Mali plans to allocate CFA80.75 billion (around $134.8 million) for election expenses as part of its 2025 budget, according to an official report by the government. Although...

Even though the growth is small, it’s mostly thanks to the strong performance of non-life insurance. Morocco's insurance market (both life and non-life) reached 32.6 billion dirhams (about $3.33 billion) in the first half of 2024. The data was released by the Moroccan Insurance Federation (FMA) on October 8. The figure represents an increase from 31 billion dirhams during the same period...

Mr. Banga's visit to Côte d'Ivoire reflects the World Bank's commitment to supporting the country in its goal of becoming a key player in West African development. The president of the World Bank Group Ajay Banga (pictured) is visiting Côte d'Ivoire as part of the Economic Development Assembly organized by Global Citizen, Bridgewater Associates, and the Ivorian government. This high-level...

In December, the African Development Bank (AfDB) urged for Africa to be exempted from the European Carbon Border Adjustment Mechanism (CBAM) due to the risks it poses to the monetization of valuable exports, such as hydrocarbons. The African Petroleum Producers Organization (APPO) has voiced strong opposition to the European Union’s proposed Carbon Border Adjustment Mechanism (CBAM) and is...

Yesterday, Ghana introduced free roaming with Togo and Benin as part of the Economic Community of West African States (ECOWAS) initiative. According to Charles Acheampong, Ghana’s Deputy Minister of Communications and Digitalization, this move will allow citizens to stay connected without high roaming fees or the need for multiple SIM cards when traveling between these countries. GHANA...

Historically sidelined by bank financing, SMEs in WAEMU are now seeing credit flows shift more in their favor. Will this change mark a lasting trend? In Q2 2024, small and medium-sized enterprises (SMEs) across the West African Economic and Monetary Union (WAEMU) received more loans than large companies. According to the Central Bank of West African States (BCEAO), SMEs took 51% of the...

The continued lack of activity since 2009 shows that investors have little interest in bonds listed on the Algiers Stock Exchange, preferring instead to invest in off-market securities. The Algiers Stock Exchange saw zero bond activity in 2023, according to an October 6 report from Algeria’s Financial Market Authority. The document notes that the last bond listing on the Exchange occurred in...

As Nigerians adjust to the new fuel prices, the long-anticipated move to deregulate downstream supply and end NNPC’s monopoly will likely drive up gasoline costs. Nigeria’s state-owned oil company, NNPC, has officially raised the fuel pump price to 998 naira ($0.60) per liter, up from the previous rate of $0.50. This price adjustment follows the NNPC's decision to give up its exclusive...