Facility to potentially host the Bank’s Special Agro-Industrial Processing Zones initiative Eritrea has a long coastline on the Red Sea but limited fresh water. Its erratic rainfall has left most of the country arid. This is a challenge for Eritreans who depend on agriculture and livestock for their livelihoods. But things are changing. In the space of three years, Eritrea harnessed local...

Through the Emerging Markets Infrastructure Fund II, the financial institution plans to finance transport and renewable energy projects in targeted countries where such infrastructure is limited, in Africa as well as in Southeast Asia.  The International Finance Corporation (IFC) plans to invest $50 million in an investment fund targeting transport and energy infrastructure projects in...

Agriculture contributes 20% of Burkina Faso’s GDP and employs about 73% of the active population. Over the past three months, the country’s government, concerned about food security, has been launching several initiatives in the agricultural sector. The Ministry of Agriculture of Burkina Faso plans to launch a new strategy for boosting the country’s agricultural output. This was announced...

At a meeting with employers, General Brice Clotaire Oligui Nguema, head of Gabon's military transition, pledged to resolve 4 of the 13 challenges reported by entrepreneurs. The process by which these commitments will be implemented has yet to be specified, but in the meantime, the commitment made by the head of the transition is welcomed by the employers' association present at the...

The African Development Bank Group, on 29 August 2023, announced the 15-month debarment of Beza Consulting Engineers PLC and Mr. Gidey Gebrezgabher Gebremariam, with effect from 21 August 2023. Beza Consulting Engineers PLC is a consulting firm registered under the laws of Ethiopia. Mr. Gidey Gebrezgabher Gebremariam is the Chairperson of the Board and General Manager of Beza Consulting Engineers...

The report reveals that most African fintechs operate in the payments & remittances, lending & financing, and business administration segments. African fintechs raised $2.7 billion between July 2021 and June 2023, according to a report published on August 21 by Disrupt Africa, an information platform specializing in Africa's tech ecosystems. Over a third of the amount was raised by...

Malawi has taken, in recent months, many steps to rapidly develop its ICT industry. Among others, the country has ratified the Constitution and the African Telecommunications Union Convention The goverment has also allowed Starlink to provide satellite Internet access in the country. Last week, the Malawi Communications Regulatory Authority (MACRA) launched a project entitled "Better Quality of...

Electric motorbike manufacturer Spiro wants to expand its activities in French-speaking West Africa where it has been present for over a year. The company recently secured a loan from Société Générale to finance its expansion project. Spiro has signed a $63 million loan agreement with the Société Générale banking group, acting through its subsidiaries in Togo and Benin. The electric...

In addition to creating jobs and boosting economic activity, the agreement will unleash the full potential of small and medium-sized enterprises in extra- and intra-African trade. China Development Bank (CDB) will loan $400 million to small and medium-sized enterprises (SMEs) in Africa. The news was disclosed on August 28, 2023, by the African Export-Import Bank (Afreximbank). The...

The South African government is stepping up initiatives to accelerate broadband coverage as part of its digital transformation ambitions. The executive is currently negotiating with operator Telkom to provide broadband connectivity services to the population. Last week, the South African Department of Communications and Digital Technologies (DCDT) and Huawei South Africa launched a joint...