The Board of Directors of the African Development Bank Group has endorsed the Bank’s 2023-2028 Country Strategy Paper for Mozambique on 13 June 2023. The new strategy aims to promote the country's structural transformation by improving fiscal stability, creating decent jobs and generating inclusive growth. The strategy has two priority areas: fostering improved economic governance and the...

ICEX Spain Trade and Investment and the African Development Bank have signed a cooperation agreement to consolidate engagement of Spain’s private sector for urban development in Africa. The agreement will more specifically foster cooperation between the Spanish business entity  and the  Urban and Municipal Development Fund (UMDF), a multi-donor trust fund hosted by the African...

To face the unprecedented new global challenges brought about by the COVID-19 pandemic, the spotlight has turned to the importance of the private sector in building resilience in transition states and in particular, the crucial role of supporting micro, small and medium-sized enterprises (MSMEs). Indeed, the latter have seen their already pre-existing fragility aggravated by the consequences of...

In the DRC, only 50.9% of the population has access to mobile services, according to official figures. Telecom operators need additional infrastructure capacity to bridge the digital divide. The International Finance Corporation (IFC) announced, Monday (June 26), it granted a $60 million loan to telecom tower operator Eastcastle Infrastructure to finance the network extension in the...

The Ugandan government aims to connect the entire population to the Internet as part of its digital transformation ambitions. According to the latest statistics from the telecoms regulator, Uganda has 25 million Internet users, representing a 60% penetration rate. The Ugandan government plans to provide high-speed Internet connectivity to refugee camps across the country. The plan was disclosed...

As market conditions are improving, WAEMU countries are getting more confident in their abilities to raise funds on the regional public securities market.  Between June 19 and June 23, WAEMU countries organized five bond issues to raise CFAF188 billion. In the end, they raised CFAF202.27 billion ($335.8 million).  In detail, Guinea-Bissau carried out a specific repurchase and new...

Four ministers are leaving their posts, including those in charge of security and Justice.  Captain Ibrahim Traoré (photo), President of the Transition in Burkina Faso, has reshuffled his government. The information was officially disclosed in a release issued by the Presidency on Sunday, June 25.  The reshuffle sees the arrival of four new ministers. Magistrate Emile Zerbo as...

The West African Development Bank (WADB), steady in its mission to stimulate West African economies, approved CFAF182 billion in financing for 11 projects. This new commitment reinforces its crucial role in boosting infrastructure and improving living conditions in the region.  At its 136th ordinary session recently, the WADB Board of Directors, chaired by Serge Ekué (photo), approved a...

Companies wishing to operate in the Kenyan ICT sector are obliged to sell 30% of their capital to local investors. In the Kenyan telecoms market, Airtel is the only operator yet to comply with this rule.  Telecom group Airtel Africa is set to list its Kenyan subsidiary on the Nairobi Stock Exchange (NSE) to comply with current regulations. This was revealed by Segun Ogunsanya, Group CEO,...

With 684,000 ounces delivered in 2022, Loulo-Gounkoto is Mali's largest gold mine. In 2021, the mine exploited by Canada's Barrick contributed $732 million to the economy, including $300 million in mining taxes and royalties.  In 2022, Barrick Gold, which is exploiting the Loulo-Gounkoto gold complex, paid $263 million in mining taxes and royalties to the state. According to...