The loan and equity financing will fund the construction of a pyrethrum processing plant in Kenya. Through this initiative, the American and Finnish investors are strengthening their commitment to Kenya's agricultural sector. Finnish impact investor Finnfund and US development finance agency DFC have jointly committed $15 million to US-Kenyan company Kentegra Biotechnology, which...

Mauritania has 6.5 million active telecom users, according to the latest official data. The country wants to identify these users, in a bid to bolster national security amid a rapidly accelerating digital transformation. In Mauritania, mobile service users have until October 6, 2023, to get their SIM registered. The deadline was recently announced by the Autorité de Régulation Multisectorielle...

Present in 14 markets, Airtel is one of Africa's leading telecoms companies. The company has already rolled out commercial broadband in Nigeria, Kenya, and Zambia. Airtel Tanzania deployed 5G last week. For now, the technology is only available in some locations and can be accessed with compatible smartphones or a dedicated router. About 10 months before its Tanzanian subsidiary deployed...

The communiqué of the PSC-AU comes at a time when the junta that seized power in Niger announces a three-year transition. This transition has been rejected by ECOWAS.    On August 22, the Peace and Security Council of the African Union (PSC-AU) published a communique informing of the conclusions of its closed-door meetings to discuss the situation in Niger. The pan-African...

The Guinean government recently disclosed its projected budget for the next three years, which focuses on investment spending. The forecast, according to authorities, translates their commitment to financing infrastructure and bolstering the country's economy. Over the next three years, the Guinean government plans to allocate 58,986.39 billion Guinean francs ($6.8 billion) to investment...

Last month, Wagner’s leader, Evgueni Prigojine, had called on his men to regroup for the army. This was after a short rebellion against Vladimir Putin. Now, the mercenary says he is in Africa where he and his men are working to make Russia “greater”. In a 41-second clip shared on Telegram, Evgueni Prigojine, the leader of the Russian paramilitary group Wagner, revealed his current...

Three months after announcing plans to sell its entire stake in the United Bank, the Central Bank of Egypt is being approached by potential buyers expressing interest in this participative bank. The due diligence process is announced for the end of September 2023. International financial institutions have expressed interest in acquiring the Egyptian Islamic bank United Bank, the central bank of...

The 17 agreements signed during Sheikh Mohamed bin Zayed Al Nahyan’s visit to Addis Ababa further reinforce the United Arab Emirates' ties with Africa. The agreements with Ethiopia, a promising market of over 100 million inhabitants, reflect the country’s increased ambition on the continent.  On August  18, Ethiopia and the United Arab Emirates signed 17 cooperation agreements...

The International Development Finance Corporation (DFC) announced on August 15 that it has provided a $500 million guarantee (over 313 billion FCFA at the current dollar value) against risks related to the issuance of a marine conservation bond in Gabon, known as the Gabon Blue Bond. Quoting the DFC CEO, Scott Nathan, Le Nouveau Gabon wrote in a statement that "The political risk insurance...

This growth in intra-regional trade can be primarily attributed to the continued elimination of non-tariff barriers, the harmonization of product standards, and the admission of the Democratic Republic of Congo (DRC) into the regional bloc. Trade among the member states of the East African Community (EAC) reached a record $10.9 billion in 2022, up 12.1% from the previous year. Peter...