The Democratic Republic of Congo (DRC) aims to invest 4202.4 billion Congolese francs ($1.5 billion) from its own funds in 2024. This move is part of a broader effort to reduce reliance on foreign investments, particularly in key sectors such as education and healthcare. The government plans to contribute more than 50% to its investment needs by 2030. In 2022, the International Monetary Fund...

South Africa's tourism industry is on the rise following a significant downturn due to the COVID-19 pandemic. The World Travel and Tourism Council (WTTC) projects that the sector will continue to grow at an average rate of 7.6% annually through 2032. Tourism Minister Patricia de Lille announced on July 16, 2024, that foreign tourist arrivals in South Africa reached 3.8 million during the first...

The government of Côte d'Ivoire is set to finalize the recapitalization of the Banque de l'Habitat de Côte d'Ivoire (BHCI) by the end of 2024, according to a recent report by the International Monetary Fund. This process, initiated by the Council of Ministers on December 15, 2021, will see an injection of 46.4 billion FCFA into the bank. As of the end of 2022, the Ivorian state held 86.76% of...

Burkina Faso's external debt increased by 4.4% to reach CFA3,097.52 billion ($5.1 billion) at the end of March 2024, up from December 2023, according to the latest public debt statistics bulletin released by the Ministry of Economy and Finance. The bulletin attributes this rise primarily to net disbursements on external loans and exchange rate fluctuations. Notably, 32.6% of this external debt...

Côte d'Ivoire plans to spend $11.7 billion on servicing domestic debt between 2024 and 2026, according to official data consulted by Ecofin Agency. This amount, covering principal, interest, and other fees, surpasses the cost of repaying external debt and accounts for around 60.6% of the country's total debt service of $19.7 billion over the same period. Most of this domestic debt is...

The latest report from the International Telecommunication Union (ITU) reveals significant progress in ICT development among the 47 African countries studied, though substantial disparities remain. Libya, Morocco, and the Seychelles top the list for the highest ICT development levels in Africa, according to the "Measuring Digital Development – ICT Development Index 2024" report released at the...

Guaranty Trust Holding, a Nigerian banking group, announced yesterday that it plans to raise $246.2 million through a share sale to meet new minimum capital requirements set by the Central Bank of Nigeria. The announcement was made via a notice on the Lagos Stock Exchange website. The capital increase will be conducted through the sale of 9 billion new shares at 44.50 naira each, with the...

GEL Utility Limited, an operating asset developed and managed by Genesis Energy Group proudly commemorates a decade of innovation as it celebrates its uninterrupted Clean Power Production in partnership with the Nigerian National Petroleum Corporation (NNPC) in generating and distribution 84 Megawatts “MW” of power to the Port Harcourt Refinery Complex (PHRC). This major milestone of...

South Africa has witnessed an increase in the frequency of extreme weather events in recent years, exacerbated by the cyclical meteorological phenomenon El Niño. The country plans to launch a climate change response fund during the current fiscal year ending on March 31, 2025. Announcement was made Monday by Environment Minister Dion George. Initially proposed by President Cyril Ramaphosa in...

Botswana's economic growth is projected to slow to 1% in 2024, down from 2.7% in 2023, the International Monetary Fund (IMF) reports following a two-week mission to Gaborone. In a statement released on July 12, the IMF attributed the decline to a reduction in diamond production, which will be partly offset by construction projects funded through fiscal expansion. Botswana relies heavily on...