Morocco’s King Mohammed VI opened the 2023 Africa Investment Forum Market Days on Wednesday with a call for Africans to work together to attract the levels of private investment needed to drive the continent’s inclusive development. From left to right, 1st row: Boitumelo Mosako, CEO, Development Bank of Southern Africa; Olusegun Obasanjo, former President of Nigeria; Jean-Jacques...

While a high proportion of their populations remain unbanked or underbanked, emerging and developing countries in Africa, the Middle East, and Latin America will be the main drivers of fintech sector growth in the coming years. The combined revenue of startups specializing in financial technology (fintechs) operating in Africa is projected to reach $15 to $20 billion in 2028, up...

The increase in country quotas is intended to enable the Fund to mobilize more financing for countries facing a debt crisis, and to better finance the fight against global warming. In a press release issued on Tuesday November 7, the International Monetary Fund (IMF) announced that its Executive Board had approved a proposal to increase country quotas by 50% at its next review, scheduled for...

Khalil Al Americani, CEO of Vodacom DRC, announced the company is currently conducting 5G tests in the country. In a recent interview with ITWeb Africa, the manager said the trial is being carried out under the supervision of the DRC telecom regulatory authority, ARPTC. These tests aim to ensure the telecom operator's readiness for deploying ultra-high-speed internet in the DRC. Khalil Al...

Energy startups raised the most funds last month in Africa, pushing fintechs into second place. The continent, it is worth noting, remains the region most affected by energy poverty worldwide.  Throughout the past month, Startups active in Africa raised $144.3 million, up by 23.6% against the previous month. The figures were revealed by TechCabal Insights, a consultancy firm...

According to the institution, Tunisia's GDP growth should stand at 1.2% in 2023, due in particular to persistent drought, external financing challenges, and the growing debt of several public enterprises. Tunisia's economy is set to grow by an average of 3% a year between 2024 and 2026, according to a World Bank report published on November 6, 2023. The Bank’s forecast is, however, "subject...

Renewable energies have created 320,000 jobs in Africa, which accounts for 2.34% of the total employment in the sector on a global scale, according to a report published on September 28 by the International Renewable Energy Agency (Irena) in collaboration with the International Labor Organization (ILO). The report emphasizes that the continent can rely on its abundant mineral reserves essential...

PIEX Group, a leading distributor of healthcare and wellness products in Africa, announces that it has signed the acquisition of Apexfarma group, a company that specializes in the development and promotion of pharmaceutical products across both Africa and Northern Asia. This acquisition will enable PIEX Group to continue in its dynamic path of expansion on the African continent, offering its...

Border frequency management is still a problem in Africa. In early 2022, the issue was at the heart of a tripartite meeting between Mauritania, Senegal, and Mali. Over the next three years, Senegal and Mauritania will, together, coordinate and share telecoms frequencies, and manage interference and involuntary roaming at their borders. The telecom regulators of both countries signed a...

The Democratic Republic of Congo is Africa's second-largest cassava producer, after Nigeria. The tuber is the country’s most-consumed staple and an essential agricultural product for value creation in rural areas. The minister of agriculture of DRC, Désire Nzinga Birihanze, kicked off the "Cassava Value Chain Development Project" in Kinshasa on November 2. With a total cost of $6.5...