Junior is a young student at a technical college in Bangui, capital of the Central African Republic, getting set to resume studies at the University of Bangui. From childhood, he has restlessly pursued interesting and ambitious ideas. A recent one: building a humanoid robot called “Mama Africa", to raise awareness about African culture and the fight against global warming. He worked on it...

The President of Cote d’Ivoire Alassane Ouattara led celebrations on Tuesday to mark the African Development Bank’s 60th anniversary. “This is an historic milestone and a cause for celebration, but it is also an opportunity to see that the African Development Bank has financed some pivotal infrastructure and helped improve the living conditions of millions of Africans. The Bank is a source...

Last year, law enforcement in 11 West African countries seized a total of 83,734.84 kg of drugs and over 31,000 drug tablets/capsules, according to a September 2024 report by the West African Epidemiology Network on Drug Use (WENDU). The document, titled "West Africa’s Creeping Drug Epidemic: Soaring Addiction, Lagging Response," provides detailed insights into drug use trends across the...

Last month, Ecofin Agency announced the launch of Bankable, a new economic news platform based in Kinshasa, aimed at highlighting business opportunities and the evolving economic governance in the Democratic Republic of Congo (DRC). As of today, Bankable is also available in English. The English-language version of Bankable opens up reliable, well-researched information on the DRC’s economy to...

The ongoing WTO Public Forum 2024 focuses on how global trade can foster inclusivity. For Africa, where many nations face marginalization, the organization offers solutions to enhance business participation in both intra-continental and international trade. Unlike other continents, Africa's intra-regional trade is significantly more expensive than trading with external partners, according to the...

Per capita income has grown threefold over the past three decades in low- and middle-income economies, according to the World Trade Organization. As the organization celebrates its 30th anniversary, it urges greater investment to promote more inclusive trade amidst geopolitical challenges and the threat of economic fragmentation. International trade, facilitated by the World Trade Organization...

The black market for stolen phones affects both security and economic growth. It fuels crime, including phone theft and trafficking, making it harder for law enforcement to control. Additionally, the sale of stolen devices hampers the growth of the legitimate electronics market and discourages formal investments.  The Nigerian Communications Commission (NCC) has introduced the Device...

Telecom services are rapidly evolving in Africa, with new infrastructure being deployed. However, the proximity of these towers to residential areas sometimes raises concerns. Egypt has improved the quality of its technical inspections for telecom towers. On September 2, the National Telecommunications Regulatory Authority (NTRA) and the National Telecommunications Institute (NTI) renewed an...

In June 2024, Nigeria’s inflation reached a 28-year high, hitting 34.19%, up from 33.95% in May 2024. As the country faces tough economic times, the government is working to restore stability. Nigeria’s value-added tax (VAT) revenue increased by 99.82% year-over-year in the second quarter of 2024, according to data released by the National Bureau of Statistics (NBS). During this period,...

Since taking office, Nigerian President Bola Tinubu has launched several reforms to revive the economy. One key initiative focuses on financing small and medium-sized enterprises (SMEs), which make up 80% of jobs in the country, to reduce poverty. According to the African Development Bank (AfDB), Nigeria’s multidimensional poverty rate stood at 63% in 2022. The Nigerian federal government will...