Although the possibility of dollarization of the Kenyan economy and the perception of a high level of risk are the factors highlighted to counter the project, the CBK has sufficient foreign exchange reserves to cover several months of imports. Kamau Thugge (photo), the proposed candidate to replace Patrick Njoroge as Governor of the Central Bank of Kenya, intends to test foreign currency bonds...

The Togolese Agency for Identification, ANID-TOGO, has partnered with Atos and IDEMIA to build a national biometric eID system based on the Modular Open Source Identity Platform (MOSIP). Atos and IDEMIA will design, build, test, and run a biometric national eID solution for Togo based on iris, face, and fingerprint recognition technology. This project is part of the West African UID Regional...

The African Development Bank Group is committed to partnering with Africa's regional and continental institutions to address the continent's biggest development challenges. This was the key message when Bank President, Dr. Akinwumi Adesina, met with the heads of intergovernmental organisations and African development finance institutions on 25 May in Sharm el-Sheikh, Egypt.  The meeting,...

The mercenaries of the private military company Wagner are present in the Central African Republic since 2018. Bangui is now keen to host a Russian military base capable of housing between 5,000 and 10,000 troops. Central African Republic is ready to host a Russian military base capable of housing up to 10,000 soldiers. This was revealed by the CAR’s ambassador to Russia,  Léon...

MStudio officially launched its activities in Abidjan, Côte d’Ivoire, on March 7, 2023. The company aims to spur the growth of start-ups in Francophone Africa and possibly the birth of the region's next unicorn. Leslie Ossété, co-founder and COO, MStudio, explains in this interview the company’s operational choices. What exactly is a startup studio, and what makes it unique? A startup...

Since January, Guinea-Bissau has been benefiting from an IMF-supported economic program under the ECF. Following the satisfactory performance recorded during this program, the Fund and the country reached a staff-level agreement. Guinea-Bissau and the International Monetary Fund (IMF) have reached a staff-level agreement in line with which the latter should provide the former $3.16 million...

The Nigerian financial market is reacting favorably to Tinubu's promises to remove fuel subsidies to finance infrastructure and unify exchange rates. However, the future remains uncertain regarding the economic challenges ahead and the repayment of subsidies. In Nigeria, financial market actors continue to welcome the promises made by President Ahmed Bola Tinubu (photo) during his inaugural...

The Kenyan Internet market is dominated by mobile network operators such as Safaricom. Internet service providers (ISPs) are stepping up investments to gain a larger market share and take advantage of the growing demand for connectivity.  Kenyan ISP. Mawingu Networks Ltd is looking to improve its network coverage to better meet the growing demand for high-speed Internet connectivity in the...

In its first quarter of activity (October-December 2022), Celtiis, a subsidiary of the Beninese Digital Infrastructure Company (SBIN), had 599,727 subscribers. According to the country’s telecom watchdog, ARCEP, that is a 4.12% market share in the quarter concerned. Before Celtiis’ arrival on October 21, 2022, Benin’s mobile telephony market was divided, since 2018, between MTN and Moov...

The international financial institution has participated in the final closing of the $70 million African Conservation and Community Tourism Fund. The funds raised will support tourism operators, hotels, and safari camps in sub-Saharan Africa. On Monday, May 29, the International Finance Corporation (IFC) announced a $13 million investment in the African Community Conservation and...