Infratel Africa aims to connect underserved communities across Africa amid rapid digital transformation. The company operates in several countries including Nigeria, Ghana, DRC, and Cameroon. Telecom infrastructure provider Infratel Africa has entered a partnership with Nigerian Communications Satellite Ltd (NigComSat) to enhance connectivity services in rural areas of Nigeria. Under the...

Namibia is the world's third-largest producer and Africa's largest producer of uranium. Spurred by the recent surge in uranium prices, new investors are flocking to the country.  Australian mining company Gibb River Diamonds has acquired two uranium projects in Namibia, the continent's leading nuclear fuel producer. The firm announced the acquisition via a press release dated June 24,...

The International Monetary Fund (IMF) announced on June 21 that its Executive Board approved two aid programs worth a combined $658 million for Madagascar. The funding aims to strengthen the economic resilience of the island nation and support its climate change adaptation efforts. The first program, under the Extended Credit Facility (ECF), amounts to $337 million. Scheduled to last...

Investment portfolios of impact investors in sub-Saharan Africa mainly target the agriculture, finance, energy, health and technology sectors. Between 2017 and 2022, they recorded annual growth of 14.2%. Sub-Saharan Africa accounts for 12% of global impact investment flows, according to a report released on June 7, 2024, by the Foundation for Studies and Research on International Development...

The African Development Bank and the African Solidarity Fund (ASF) have signed a letter of intent to strengthen the two institutions’ working relationship and synergy. The partnership was ratified by Aida Ngom, Director of the Private Sector Development Department, on behalf of the African Development Bank Group, and Abdourahmane Diallo, the Fund's Managing Director, at the opening ceremony of...

The Board of Directors of the African Development Fund has approved an additional $10 million from the Global Agriculture and Food Security Program (GAFSP) to implement activities and scale up the impact of the Smallholder Agriculture Development for Food and Nutrition Security project in Liberia. The project aims to improve food and nutrition security and reduce poverty of targeted rural...

Cameroon’s public telecommunications company, Camtel, is leveraging the infrastructure of Camwater, the national water supplier, to enhance its service coverage across the country. On June 19, the two organizations signed a framework agreement for mutual infrastructure sharing. "This collaboration involves providing conduits or pipes during civil engineering works to facilitate the...

The International Monetary Fund (IMF) announced yesterday it has approved $935.6 million in funding for Tanzania to support economic reforms and climate change mitigation. Of this amount, $786.2 million will be disbursed over 23 months under the Resilience and Sustainability Facility (RSF). This loan mechanism, launched in 2022, helps low- and middle-income countries tackle long-term...

The International Finance Corporation (IFC) and Proparco, a subsidiary of the French Development Agency (AFD), announced a $41 million funding package for infrastructure company WIOCC. This funding will help WIOCC develop its primary and secondary data centers in the Democratic Republic of Congo, Nigeria, and South Africa. Additionally, WIOCC plans to continue expanding its terrestrial fiber...

The African Development Bank and Infrastructure Credit Guarantee Company Limited (InfraCredit) have signed an agreement for a $15 million subordinated loan facility to strengthen InfraCredit's capital base and attract institutional investors’ resources to help close Nigeria's infrastructure financing gap. Lamin Barrow, Director General of the African Development Bank's Nigeria Country...