Trade between Algeria and Turkey now exceeds $5 billion, according to the Algerian government. Both countries hope to increase the figure in the future, leveraging new agreements in new sectors.  Algeria wanted to double its trade with Turkey, bringing it to $10 billion in the medium term. The goal was disclosed by the Algérie Presse Service (APS), quoting Algeria’s Ministry of...

Ethio Telecom launched pre-commercial 5G last year, in May. The State company, in this framework, was supported by Huawei technically, and the Ethiopian Communication Authority (ECA). Ethio Telecom launched commercial 5G last Saturday, September 9. The technology is currently available in 145 sites throughout Addis Ababa, the capital city. It will extend to other parts of the country in the...

The African Development Bank (AfDB) believes that getting SDRs from developed countries would allow it to raise more money on financial markets at costs well below those of sovereign issuers. The African Development Bank (AfDB) wants some of the Special Drawing Rights (SDRs) of wealthy countries. According to Bloomberg, which cited a senior executive of the AfDB, the pan-African lender will use...

This pilot project aims to reduce the financing deficit of importing and exporting companies, in emerging countries, including African nations. It has a dedicated budget of $300 million. The International Finance Corporation (IFC) and Citibank have launched, together, a project to finance the supply chain in emerging markets. Announced yesterday, September 11, the project will allow both...

Graduating executive MBA students of Oxford University’s Saïd Business School received wise counsel from African Development Bank President Dr Akinwumi Adesina on Friday. Delivering the business school’s 2023 commencement address, Adesina called on the graduates to use the skills and knowledge they had acquired to address some of today’s most pressing global challenges, including...

The African Development Bank's Sustainable Energy Fund for Africa (SEFA)  welcomes approximately $50 million in new funding contributions from Germany and the United States. The contributions will serve to boost its position as one of the continent’s leading climate finance facilities. The funding was announced on Tuesday 5 September at a high-level event organised by SEFA during the...

Since 2021, Egyptian-Turkish relations have witnessed a series of positive developments, marking a resurgence in diplomatic ties between the two nations. The recent G20 summit provided an opportune moment for the heads of state from both countries to explore avenues for further bolstering their bilateral relations. On September 10, during the G20 summit in New Delhi, India, Egyptian President...

Investment firm Tana is selling its investment in the Moroccan school network IEG (International Education Group) for an undisclosed amount.  Eight years after its initial commitment, jointly undertaken with the Moroccan group Saham, the investment firm announced last September 6 that it is leaving its place to Globeducate, a network comprising around sixty schools and programs in 12...

In a landmark achievement, the President and Chairman of the Board of Directors of ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor, has been nominated for yet another international honour- the Development Champion Award by the Rebranding Africa Forum. The award will be presented during a special ceremony in Brussels, Belgium, as part of the 9th Edition of the forum in...

President Ismail Omar Guelleh officially inaugurated Djibouti’s first-ever wind farm. This innovative project is a response to the country's serious energy shortage, thanks to a 50% boost to overall capacity while pushing forward his agenda to make the nation of 1.1 million the first in Africa to rely entirely on renewable sources for electricity. The country has enough wind, solar and...