In Côte d'Ivoire, the private sector contributes 80% of government revenue. In that context, the government has launched a number of initiatives to boost investment in the sector to 25% of  GDP and create over 90% of projected jobs by 2030. Côte d’Ivoire announced, Monday (June 19), the launch of a CFAF38 billion ($63 million) long-term investment facility (FILT) program to promote the...

Over the past five years, the privatization of state telecom operators was considered several times. MTC began its listing process in 2019.   The Communications Regulatory Authority of Namibia (CRAN) recommends the sale of state-owned companies operating in the information and communications technology sector to private investors to increase competition in the national market. The...

Despite geopolitical tensions and a deteriorating macroeconomic situation worldwide, Egypt remained one of the most attractive destinations for investors in Africa over the past year. The country accounted for 57% of the value of transactions carried out in North Africa. Private equity funds injected a record $877 million into Egyptian companies in 2022, despite an extremely difficult...

The agreement is renewed for four years, offering comprehensive insurance services in the Egyptian market that offers strong growth potential for foreign investors.   Insurer Allianz Egypt recently renewed its bancassurance agreement with the local subsidiary of Crédit Agricole, a French banking group, for a further four years. With this extension, the two partners aim to offer a...

The Egyptian economy has been hard hit by global inflationary pressures. To bring in liquidity and stimulate growth, the government decided to sell some of its public companies’ shares. It has chosen the IFC as its strategic advisor in that bid.  The International Finance Corporation (IFC) has been appointed as a strategic advisor to Egypt as part of the government's asset monetization...

The African Development Bank’s Urban and Municipal Development Fund is partnering with the Eswatini Water and Agriculture Development Enterprise on a new urban planning project, closely linked with the development of a transformative agro-industrial hub which will boost  economic activities and to attract tens of thousands of workers. The Fund approved a grant of $400,000 to the...

The Plan for Algerian banks to set up operations in sub-Saharan African countries is on.  After approval to operate in Senegal, Algeria's main public banks have been given the go-ahead to launch a subsidiary in Mauritania. Banque Nationale d'Algérie (BNA), Crédit Populaire d'Algérie (CPA), Banque Extérieure d'Algérie (BEA) and Banque de l'Agriculture et du Développement Rural (BADR)...

ICTs are at the heart of the Kenyan government's socio-economic development strategy. For the 2022/2023 fiscal year, the executive budgeted $112 million for the ICT sector.  The Kenyan government will dedicate Ksh15.1 billion ($108.4 million) to fund projects in the information and communication technology (ICT) sector in the 2023/2024 fiscal year. This was revealed by Finance Minister...

According to Forbes, Aliko Dangote has lost his position as the richest individual in Africa. However, data from Bloomberg presents a different view and even indicates that the Nigerian is the most solvent, with his fortune potentially increasing by several billion dollars thanks to his refinery. In its updated ranking of African billionaires, Forbes claims that South Africa's Johann Rupert...

The financial backing aims to enable the microfinance institution to support more SMEs in a context marked by economic challenges in Egypt.  Reefy Microfinance Enterprise Services, the microfinance subsidiary of CI Capital, recently signed an EGP200 million ($6.5 million) loan agreement with the European Bank for Development and Reconstruction (EBRD), according to local media outlets. The...