In 2019, Seacom conducted a study on the market potential for fiber optic services in Tanzania, Uganda, Kenya, and Rwanda, with funding from the United States Trade and Development Agency (USTDA). The digital infrastructure and IT services company, Seacom, is set to begin expanding its operations in West and East Africa, Alpheus Mangale, the company's CEO, revealed in a recent interview with...

In 2022, Sub-Saharan Africa had 980 million mobile subscriptions, with only 22% using 4G technology. By 2030, this figure is expected to leap to 66% of mobile subscribers connected to either 4G or 5G networks. 4G technology is forecasted to account for 49% of all mobile connections in SSA by 2030, up from 22% in 2022. This is a finding of the Global System for Mobile Communications Association...

Côte d'Ivoire is facing the repercussions of climate change, and now the El Niño phenomenon poses an additional threat, particularly to the agricultural sector, which contributed 16.7% to national GDP in 2022, as reported by the World Bank. The country is currently experiencing exceptional heat waves, according to report by the Société de gestion des aéroports et de météorologie de Côte...

The International Finance Corporation (IFC), the World Bank’s private sector arm, plans to invest $1 billion in Egypt in 2024. This ambitious initiative, reported by Al Borsa News on February 19, will be carried out in partnership with Egypt's National Agency for the Development of Micro, Small, and Medium Enterprises (MSMEDA). Cheick-Oumar Sylla, the IFC's Regional Director for North...

In the heart of Nigeria’s Ekiti State, a groundbreaking initiative is taking shape – the Ekiti Knowledge Zone (EKZ), a bold step to transform the region into a hub for digital innovation and knowledge economy. The African Development Bank has committed $80 million in loan financing for this state-led pioneering special economic zone project, designed to foster linkages between...

The African Development Bank and the OCP Group signed three loan agreements in Rabat totalling $188 million to help fund the OCP Group’s Green Investment Program supplying clean drinking water to the towns around three new desalinisation plants. The construction of the new modular seawater desalination plants will be funded by the first loan of $150 million from the African...

The government of Benin is stepping up initiatives to increase internet coverage and adoption across the country. As part of this ambition, the state is betting on the Benin Digital Infrastructure Company, which was officially launched in October 2022 and is managed by Sonatel. The Benin Digital Infrastructure Company (SBIN) will enjoy an exemption from import duties and taxes on equipment for...

PE firm Adenia Partners has successfully expanded its investor base across America, Europe, and Africa, sticking to its strategy of acquiring controlling stakes and creating value. In a recent interview with Agence Ecofin, Christophe Scalbert, one of the firm's leaders, revealed that Adenia has already exceeded the initial $400 million goal for its fifth African-focused investment fund...

Ecofin Agency: Could you provide a summary of your current fundraising efforts? We've observed significant involvement from development finance institutions (DFIs) on this initiative. How close are you to achieving your fundraise target for this fund? Christophe Scalbert: We are currently advancing the fundraising for Adenia Capital V, our fifth investment vehicle focusing on Africa. As of now,...

Maroc Telecom's subsidiaries in Sub-Saharan Africa are becoming key drivers of its growth, especially as it faces tough competition in its saturated home market. In 2023, the Moroccan telecom group Maroc Telecom reported a consolidated revenue of MAD36.78 billion ($3.6 billion), according to its annual financial results released on Friday, February 16. This is a 3% increase from the MAD35.7...