Lagos launches OMI-EKO project to boost water transport Funded by AFD, EU, EIB; 75 electric ferries planned Aims to ease congestion, cut delays in 20M+ city The Lagos State government launched, on Oct. 17, the OMI-EKO project, an initiative to develop the state’s waterways for urban transport and encourage cleaner mobility.  The plan aims to shift passenger traffic away from the...

Afreximbank’s FEDA has led a $75 million equity investment into Spiro, Africa’s largest e-motorcycle deal, expanding the fleet from 60,000 to 100,000 battery-swap bikes by end 2025. Riders save an average of $3 per day on fuel and maintenance, while Spiro earns $0.50 per battery swap, creating a reliable, subsidy-free cash flow. Headquartered in Dubai, Spiro will deploy...

Ethiopia to open banking sector to foreign investors, allowing up to 49% ownership while maintaining domestic control. New NBE directive sets strict limits: 7% for individuals, 10% for firms, and up to 40% for strategic investors. Investments must be in hard currency, with strict reporting and KYC rules to ensure transparency and financial stability. The National Bank of Ethiopia (NBE) has...

(FEDA) - The Fund for Export Development in Africa (FEDA), the development impact investment arm of African Export-Import Bank (Afreximbank), has announced a $75 million investment in Spiro, the leading electric two-wheel assembler in Africa with the fastest growing battery swapping infrastructure. This investment is fully aligned with Afreximbank’s broader automotive strategy to develop...

World Bank commits $2B to Uganda for development projects Funding resumes after 2023 suspension over anti-LGBT law Uganda also negotiating new IMF credit deal post-elections Uganda will receive $2 billion in new funding from the World Bank over the next three fiscal years, Finance Minister Ramathan Ggoobi said on Monday, Oct. 20, 2025. STATEMENT BY PSST ON IMF/ WB 2025...

Ghana plans 500,000 jobs via oil palm expansion policy Government seeks IFC, World Bank funding for plantations Agriculture reforms aim to cut food imports, boost jobs Le gouvernement ghanéen prévoit de réduire le chômage en mettant en place une initiative qui permettra de créer Ghana's government plans to create 500,000 jobs by expanding cash crops, primarily oil palm, under a new...

Uganda launches Clean Cooking Unit to boost energy transition Aims for universal clean cooking access by 2040 Only 15% currently have access; major health, climate impact The Ugandan government launched a “Clean Cooking Unit” on Monday, Oct. 20, a new body created to coordinate policy and financing for Uganda’s shift to cleaner cooking solutions.  The announcement came during...

Hop Lun acquires three lingerie factories in Morocco Expansion boosts access to EU via trade agreement Marks firm's first manufacturing entry into Africa Hop Lun, a Hong Kong-based Chinese lingerie maker, said on Friday, Oct. 17, 2025, it signed two deals to buy three factories in Morocco. The deals were concluded with established local manufacturers in the North African country. The...

Liquid Intelligent’s new SME Portal will provide small businesses with access to affordable digital tools, including internet, cloud storage, and collaboration services. The platform targets Zambia’s 97% MSME base, which contributes 70% of the country's GDP and 88% of jobs, helping them digitize their operations and boost productivity. The move reflects a broader industry shift as...

GSMA and African operators push $30–$40 4G phones to bridge access gap and connect 50M new users. Coalition urges tax cuts on low-cost devices to expand internet use and digital economy growth.  Affordable smartphones could boost jobs, e-commerce, and inclusion across Africa’s young population. The GSMA’s new partnership with six major African telecom operators,...