Established by African States with the technical and financial support from the World Bank Group and, with a further support by the African Development Bank, the African Trade Insurance Agency (ATIDI) is a multilateral development institution dedicated to providing insurance, coinsurance, reinsurance and other financial services for the purposes of promoting trade, investment and other productive...

The Board of Directors of the African Development Bank Group has approved a loan of $196.43 million for Namibia to implement the second phase of its Transport Infrastructure Improvement Project (TIIP). The loan, approved on 31 October 2023, represents 51.8 percent of the project’s total cost. The Namibian government will provide the remaining 48.2 percent. The project aligns with...

The Tunisian commercial bank BIAT plans to issue guarantees in favor of cross-border correspondent banks, to support Tunisian operators. Banque Internationale Arabe de Tunisie (BIAT) has signed a guarantee agreement for 156 million dinars ($50 million) with the European Bank for Reconstruction and Development (EBRD). Sealed on October 25, the deal was disclosed by BIAT yesterday, October...

The U.S. rating agency S&P issued a note on October 21 saying it upgraded Benin’s rating outlook to positive from stable, with the B+ rating maintained. This upward revision, made in an international and regional climate marked by various instabilities, "places Benin as the only African country with a positive outlook with S&P", the country’s authorities said. The rater says the decision was...

Despite the ongoing conflict in its eastern region, the Democratic Republic of Congo pursues its tax mobilization plan to support the State budget. Between January and September 2023, the government achieved more than 74% of its initial fiscal targets. The Democratic Republic of Congo (DRC) has mobilized 8,039 billion Congolese francs ($3.2 billion) in tax revenues over the first nine months of...

In September 2023, the annual headline inflation in Côte d'Ivoire was primarily driven by the prices of food products and non-alcoholic drinks, as well as that of transport, housing, water, gas, electricity, and other fuels, as per the INS. Overall annual inflation in Côte d'Ivoire slightly fell to 4.9% in September this year, in comparison to 5% the previous month, according to data provided...

FMO plans to invest $12.5M in the ARF IV fund managed by XSML Capital, to support SMEs in Central Africa. ARF IV will target SMEs via mixed investments. The FMO is reported to have already committed $107 million in similar commitments so far this year. The Dutch entrepreneurial development bank, FMO, is considering investing $12.5 million in the African Rivers Fund IV (ARF IV),...

The country should have launched its first satellite in 2021 but it was postponed due to the Covid-19 pandemic. Senegal will launch its first satellite, GaindeSat, into orbit in the first quarter of 2024. The news was disclosed last week by the Senegalese Ministry for Higher Education, Research and Innovation (MESRI). The nanosatellite was built over three years by Senegalese engineers and...

The Ivorian government is taking steps to position its tourism sector at the forefront as the African Cup of Nations approaches. As part of these efforts, the government, through the IT and Startup Development Department (DIDS), has initiated the test phase of its new online tourism information system (SITD). The ceremony took place a few days ago in Abidjan under the leadership of the Minister...

The stage is now set for the 2023 African Economic Conference, jointly organized by the African Development Bank, the Economic Commission for Africa (ECA) and the United Nations Development Programme (UNDP). The conference will be held from 16-18 November in a hybrid format, with the physical location being the UN Conference Centre in Addis Ababa, Ethiopia. This year, the largest research and...