When he came to power on September 30, 2022, following a military coup, Captain Ibrahim Traoré said the deteriorating security situation needed to be addressed. Burkina Faso's transitional President, Captain Ibrahim Traoré, made a resolute declaration in an exclusive interview broadcast on national television, RTB, last September 29. "Elections are not a current priority; security is,” he...

Ahead of the 28th United Nations Conference on Climate Change (COP 28), the African Development Bank Group has launched country-by-country economic reports to guide African policymakers in their discussions at the global event. The new Country Focus Reports (CFRs) provide analysis and policy recommendations to strengthen countries' active participation at COP 28, which takes place in Dubai,...

Since French troops were ousted from Niger, questions have arisen about their potential new location. Earlier this week, a Nigerien media outlet issued a warning that a French military base was being established near Kandi, in the Alibori department to the north of neighboring Benin, with which relations had become tense since the July 26 coup. This information was subsequently reported by the...

Sixty-five startups in Africa have now reached the status of scale-ups, having exceeded a valuation of $50 million, according to a report issued on September 21 by Startup Genome. The report emphasizes that a scale-up is an intermediate level between startups and unicorns, which are companies with a valuation over $1 billion. Usually, a startup achieves this level only after...

The French African Foundation (FAF) kicks off the third edition of its Young Leaders program, from October 2 to 5 in Paris, with young visionaries from a wide range of sectors coming together for a resilient, prosperous and action-oriented Africa. The French African Foundation announces the launch of the third edition of its iconic Young Leaders program. The event will be held in Paris from...

For FY2024, the government of Benin has announced a state budget of CFA3,199.274 billion (about $5.12 billion), marking a 5.5% increase compared to the CFA3,033.337 billion (about $4.8 billion) of this year. The official statement, issued on September 26, reports that the government aims to "accelerate the structural transformation of the economy and, simultaneously, achieve a better...

Since its launch three years ago, P1 Ventures has backed nearly 30 African startups. Now, it wants to expand its financing activity, with a focus on startups that use AI.  On September 26, venture capital firm P1 Ventures announced the first close of its second investment fund at $25 million.  The company said it would invest the funds in various businesses, especially those that...

The Tanzanian government wants 85% of its population to have access to broadband by 2025. Currently, the country has 34.04 million internet users and a population of 67.9 million people. Horus Power and Telecom Solutions, a telecoms company present in 14 African countries, and Bradda, a Tanzanian ISP, have signed a cooperation agreement to accelerate broadband adoption in Tanzania. The two...

Lawmakers in Burkina Faso adopted a bill empowering microfinance companies operating in the country to offer Islamic finance solutions to their customers. This new measure was taken on September 26 in amendment of law no. 023-2009/AN of May 14, 2009, which regulates decentralized financial systems. It outlines the modalities for microfinance institutions to engage in Islamic finance activities...

Digital payments have been growing significantly in Africa in recent years, but the segment remains fragmented and faces numerous challenges. Revio, a fintech that makes digital payments simpler and cheaper on the continent, just closed its second round of financing, after the first one in June 2022. Revio, an Africa-focused payment orchestration platform, recently raised $5.2 million in...