Benin achieved a remarkable performance for the latest global tax expenditure transparency index. The country has entered the top 10 most tax-transparent countries globally, securing the 8th position with a score of 66.3/100 and standing as the sole African representative in this category. The country even outperformed powerful countries like the United States and Italy. This ranking, published...

Over the past four decades, Shelter Afrique has financed several housing projects in Africa. Now, it has taken a new, major step, morphing into a development bank. Pan-African finance institution Shelter Afrique is now a development bank. The Nairobi-based lender, rebranded Banque de développement Shelter Afrique (BDShaf), announced the change on October 12,  a week after the approval of...

To accelerate the implementation of its digital transformation program, Tunisia bets on cooperation. Already this year, the country has signed many cooperation memoranda with the US, China, Italy, and more. Tunisia and Japan signed a memorandum of understanding (MoU) to reinforce their cooperation on the digital transformation front last Tuesday, October 10. The MoU was inked by Nizar Ben Neji...

Gambian companies mostly resort to banks to secure loans, which can sometimes carry interest rates of up to 20%. To alleviate this situation and provide them with a broader range of options, the government is preparing to launch a stock market. "The Capital Market of The Gambia," will start operations at the central bank to help keep costs low, mentioned Paul Mendy, the second deputy governor of...

The report highlights Nigeria as the biggest spender on surveillance technologies in Africa. Over the past decade, the country has expended over $2.7 billion to acquire surveillance equipment. The British think tank Institute of Development Studies (IDS) conducted a study on the acquisition and deployment of surveillance technologies in Africa, with a particular focus on certain...

The Board of Directors of the African Development Bank Group has approved a project to provide 60,000 metric tons of fertilizer to 400,000 smallholder farmers in Uganda. Under the Fertilizer Financing for Sustainable Agriculture Management project, the Africa Fertilizer Financing Mechanism will provide $2 million in partial trade credit guarantees and a grant of $877,842 grant to ...

The Board of Directors of the African Development Bank Group granted funding of USD 13.15 million to Burundi on 5 October 2023, to help the country implement Phase 1 of the Water Sector and Climate Resilience Building Support Programme. The funding comes from the Transition Support Facility, one of the Bank’s funding mechanisms aimed at building stability in countries in transition. The...

The United States will only continue to provide humanitarian assistance. Over $500 million in cooperation projects have been suspended. Washington supports the return to democracy and calls for the release of overthrown president Mohamed Bazoum. The United States is suspending a large part of its assistance to Niger, after officially calling the change in power a coup. Yesterday October 10,...

The institution notes that the regional growth decline this year reflects worsening weather shocks, coupled with a slowing global economy, and domestic supply issues, particularly in the electricity sector. The average economic growth of Sub-Saharan African countries is expected to fall to 3.3% in 2023, down from 4% in 2022 before reaching 4% in 2024, according to the International Monetary Fund...

Officials from Burkina Faso and Iran met last October 2 to 5 in Ouagadougou to strengthen their cooperation and explore new areas of partnership. The next session is scheduled for 2025 in Tehran. Burkina Faso’s Foreign Minister, Olivia Rouamba, signed 8 new partnership agreements with Sayed Solat Mortazavi, the Minister of Cooperatives, Labor, and Social Welfare of Iran. This was during the...