From March 2023 to January 2024, AGL Côte d'Ivoire carried out the end-to-end logistics of the medical equipment, ordered by the Ivorian Ministry of Health and intended for the hospitals of the cities hosting the CAF TotalEnergies Africa Cup of Nations, Côte d'Ivoire 2023 matches. AGL Côte d'Ivoire's operational teams carried out the air transit, storage, delivery and installation of 6...

The Central Bank of West African States (BCEAO) issued an instruction on January 31, 2024, outlining the procedures for providing payment services within the 8 West African countries that constitute the West African Monetary Union (WAMU). This regulatory text officially grants banks, credit financial institutions, microfinance structures, and electronic money institutions the green light to...

Tourist arrivals in South Africa reached 8.48 million visitors in 2023, marking a significant surge of 48.9% compared to 2022, data recently released by the South African Statistics Agency (Stats SA) showed. Visitors from other African countries, numbering 6.4 million, constitute a substantial 75.6% of the total arrivals. Stats SA noted a sharp increase in the number of visitors from Zimbabwe...

The International Finance Corporation (IFC) announced on February 1 the establishment of a $100 million financing facility for the Moroccan commercial bank, Crédit du Maroc. This marks the second loan agreement between IFC and the Moroccan bank listed on the Casablanca Stock Exchange, coming a year after the initial $50 million deal. The five-year facility will help the recipient...

Africa Credit Opportunities Fund (ACOF), a pioneering private credit fund, and Telecel Group, a prominent player in the African telecommunications sector, are delighted to announce their collaboration on a US$20M investment in Telecel Global Services, which will be targeted for the Telecel Global Services’ expansion in West Africa. This strategic partnership underscores their joint commitment...

Nigerian billionaire Aliko Dangote announced an investment of over $1 billion to develop a phosphate project in Senegal. The announcement came on Friday, February 2, following fruitful discussions with Senegalese President Macky Sall at the Presidential Palace in Dakar. The investor stressed that the project will commence “as soon as we receive our license”. Senegal boasts phosphate...

Airtel Africa, a dual-listed company on the London and Lagos Stock Exchanges, has reported a sharp growth in its Francophone markets over the nine months ending December 2023. The company revealed that countries such as Chad, the Democratic Republic of the Congo, Gabon, Madagascar, Niger, Congo, and Seychelles collectively generated an operating profit of $203 million. This represents an...

Morocco witnessed a 0.2% surge in total exports during 2023, partly driven by the energy and automotive sectors, as reported by the Office of Foreign Exchange. Concurrently, the country's trade deficit narrowed by 7.3% over the period. The trade balance, standing at MAD 286.3 billion ($28.3 billion), marked a decrease from MAD 308.8 billion in 2022. This shift is primarily attributed to a 2.9%...

The manufacturing sector outpaced energy, services, and agriculture as the top recipient of foreign direct investments (FDI) in Tunisia in 2023. Foreign investment flows into Tunisia reached 2.52 billion dinars (about $806 million) in 2023, marking a 13.5% increase compared to 2022, according to data by the Foreign Investment Promotion Agency (FIPA). These flows were distributed between...

Landlocked countries Mali, Niger, and Burkina Faso face potential surges in the costs of international transactions following their withdrawal from the West African regional bloc. Yesterday, the International Monetary Fund (IMF) expressed concerns about the negative impact on these three militarily-led countries, emphasizing the potential escalation in transaction costs. Abebe Aemro Selassie,...