According to the WHO, the humanitarian crisis in Chad has reached alarming levels due to the armed conflicts in neighboring Sudan, which have increased the number of refugees. With over 570,000 refugees already present, the recent influx is putting unbearable pressure on essential resources. In Chad, the humanitarian crisis has reached "alarming" levels. In its latest report on health crises in...

Since April 2023, deadly fighting forced around 1.5 million people to flee Sudan. In this context, its neighbors organized a summit, which aims to explore ways of putting an end to the current conflict and its negative repercussions. Last July 13, Sudan’s seven neighbors held a summit, in Cairo, to find solutions to the ongoing conflict. During the summit, they called for an end to foreign...

Nigerian financial group Access Holdings has completed the acquisition of a 51% stake in Finibanco, an Angolan commercial bank. The transaction, initiated on October 5, 2022, has now met all necessary conditions and received regulatory approval. On July 13, Access Holdings officially announced the finalization of the majority stake acquisition in Finibanco Angola. As the new major shareholder,...

Al Baraka Bank Tunisia, the Tunisian subsidiary of Bahrain-headquartered banking group Al Baraka, recently submitted a bid to acquire an additional 51.08% stake in El Amana Takaful, an Islamic insurance company. On July 12, Al Baraka Bank Tunisia and its subsidiary, Al Baraka Sicar, announced a tender offer to acquire 51.08% of the shares, totaling 720,301 shares, in El Amana Takaful that they...

The West African Mining Activities Week has been organized since 2016, notably to attract mining investments to Burkina Faso. The 2023 edition comes at a time of declining gold production, with government efforts to reverse the trend. Burkina Faso will host the 5th edition of the West African Mining Activities Week (WAMAW) in Ouagadougou from September 28th to 30th, 2023. The date was announced...

Street Child United (SCU) is delighted to announce a three-year partnership with Rawbank to run the "1 million d’espoirs" development programme dedicated to sport and improving the skills and independence of children in the Democratic Republic of Congo (DRC). The partnership will be implemented in two phases; the first two years of the programme will provide a ‘train-the-trainer’ format...

A delegation from the African Development Bank Group recently met senior government officials in Monrovia to discuss the Government of Liberia’s request for financing of a major highway along the country’s coastline.   The proposed 444-kilometre coastal highway, from Bassa County to Grand Kru County, is expected to deliver significant economic benefits for Liberia and promote regional...

The Board of Directors of the African Development Bank Group has approved a €63.09 million loan to Cameroon to promote entrepreneurship and improve skills to match industry needs. Multinational partners, the private sector and the Cameroonian government will contribute approximately €2 million to the project cost, estimated at €64.93 million. Covering five of Cameroon’s...

The Board of Directors of the African Development Fund has approved a $101 million loan to finance the Rwanda Sustainable and Resilient Water and Sanitation Program a policy based operation to support Rwanda’s water and sanitation sector. The program aims to improve water and sanitation governance and access to basic water supply and sanitation services. It will also strengthen legal,...

Africa offers vast investment opportunities for Asian countries with the appropriate incentives for their private sectors, Prof. Kevin Urama, Chief Economist and vice president of the African Development Bank Group, has affirmed. Urama made the call during a webinar to discuss the 2023 edition of the African Economic Outlook report. The African Development Bank organized the session jointly with...