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Countries in Africa have been facing significant internet disruptions over the past five days. The problem, we learned, is due to technical incidents affecting three of the main undersea cables connecting the countries.
Moov Africa's divisions in Benin and Côte d'Ivoire are leveraging the current internet outage crisis across Africa to expand their customer base. These operators remain fully...
The record for raising financial resources through ESG (Environmental, Social, and Governance) bonds has already been broken this year in Africa. The African Development Bank (AfDB) continues to be a significant player in the sector. However, this development hides a significant margin for progress, given the continent's needs.
The value of international loan securities issued by African...
In February 2024, the IMF staff reached an agreement with the Ivorian state for a financing of $1.3 billion under the Rapid Financing Instrument (RFI). The loan was approved by the institution's board of directors and is expected to have a repayment term of 20 years plus a grace period of 10 and a half years.
The International Monetary Fund (IMF) approved the financing of $1.3 billion...
The African Development Bank and NMB Bank Limited Zimbabwe (NMB) have signed a $15 million Trade Finance Transaction Guarantee Facility to unlock trade finance opportunities for Zimbabwean small and medium-sized enterprises and those in agri-business and trade distribution value chains.
The signing took place on 7 March at NMB Bank Headquarters in Harare. Moono Mupotola, African Development...
After reaching a $5.4 billion bilateral debt restructuring agreement with its official creditors last January, Accra is now hoping to quickly secure a deal with its Eurobond holders.
Ghana signed non-disclosure agreements (NDAs) with the holders of its Eurobonds, marking the start of formal negotiations on restructuring around $13 billion in debt, Reuters reported yesterday, citing...
The Ivorian government is taking significant steps to enhance the economic landscape, particularly focusing on SMEs, which are considered the backbone of the economy.
In a recent announcement made by Yaya Ouattara, the Director-General of the Single Window for SME Development (GUDE-PME), the Ivorian government disclosed its ambitious plan to support 8,000 SMEs in 2024. The plan was revealed...
Mobile service subscriptions in Sub-Saharan Africa stood at 980 million in 2022, as per recent report by the GSMA. However, the actual number of unique mobile subscribers in the region is lower since some individuals own multiple SIM cards.
According to a November 2023 report by Swedish technology company Ericsson, mobile subscriptions in Sub-Saharan Africa are projected to hit 1.1 billion by...
French industrial gas giant Air Liquide announced yesterday it has sold its operations in twelve Sub-Saharan African countries to the investment firm Adenia Partners. The announcement was made in a press release that did not disclose the financial details of the transaction.
The countries involved in the deal include Benin, Burkina Faso, Cameroon, Congo, Côte d'Ivoire, Gabon, Ghana, Madagascar,...
There has been no reaction from Niamey since Nigeria announced the reopening of its land borders with Niger.
Following Benin's lead, Nigeria, another strategic trading partner of Niger, declared the reopening of its land borders with the country. This move comes alongside the immediate removal of other restrictions tied to the ECOWAS economic sanctions.
The decision also lifts the flight ban to...
South Africa is about to make a significant leap in cryptocurrency regulation, marking a first not only for the country but for the entire African continent. According to Bloomberg, citing Unathi Kamlana, head of the country's Financial Sector Conduct Authority, about sixty cryptocurrency trading licenses are expected to be issued by the end of March 2024.
This development comes at a time when...