Titan currently owns 94.05% of Union Bank. With the new process initiated, it wants to acquire the remaining 5.95%.  Titan Trust Bank (TTB) Limited announced Monday (May 8) its plan to acquire all of Union Bank's remaining shares from minority shareholders. The Nigerian bank, which was established in December 2018 and began operations in October 2019, hopes through this proposed acquisition...

The fuel and food subsidies that have so far benefited every segment of the Ivorian population will be replaced by cash transfers targeting the most vulnerable.  The Ivorian government has promised to replace food and fuel subsidies with cash transfers to the most vulnerable, Bloomberg reported Monday, citing an IMF official. According to the media outlet, the subsidy cut is one of the...

Starlink is pursuing its African expansion strategy after launching in Nigeria and Rwanda. The company eyes Somalia, where nearly 90 percent of the population has no access to the Internet. Elon Musk’s satellite internet provider, Starlink, plans to launch its commercial services in Somalia, state news agency SONNA reveals. According to the news agency, Starlink has already begun discussions...

Even as a child, Gninlnagnon Koné , a young man from Katiola in north central Côte d’Ivoire, liked to follow his parents, who grew tubers and maize, to their farm. Today, an engineer in agricultural business management, he says, “When I became an engineer, I realised that our agricultural producers still face the same difficulties with processing their products. People work hard but...

The country, which is hit hard by climate change, plans to raise at least $4 billion in the domestic market and the balance from foreign donors and private investors. From 2021 to 2030, Uganda needs $28.1 billion to finance its climate projects, the Ministry of Finance said in a paper published earlier today.   The funds are needed “to finance adaptation and mitigation...

The African Development Bank Group, on 9 May 2023, announces a 24-month debarment of Goldsun Investments Company Ltd. with effect from 31 January 2023. Goldsun Investments Company Ltd. is a limited liability company registered in the Republic of Kenya. An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Goldsun Investments Company Ltd. engaged in...

The IMF estimates that the significant reduction of tariff and non-tariff barriers should be accompanied by far-reaching reforms of the business environment to maximize the impacts on trade integration.  According to a report published on May 5 by the International Monetary Fund (IMF), the adoption of the African Continental Free Trade Area (AfCFTA) has the potential to not only...

Given the current environment of rapid digital transformation and increasing demand for high-speed connectivity, 5G has become a necessity. It plays a crucial role in addressing the connectivity needs that have arisen due to the emerging digital consumption patterns since 2020. Tunisia will proceed to the commercial deployment of the 5G network technology in 2024. The roadmap for the deployment...

Viviane Kakou, who has a master’s degree in geography, didn’t want to spend her career in an office. She chose agriculture out of passion. Thanks to the African Development Bank, her dream of becoming an agricultural entrepreneur is taking shape.  “When I was studying for my degree,” she explains, “I was working on the rural economy among women in Afféry, in Adzopé department in...

Since 2021, the EU and Guinea-Bissau have been implementing a 6-year development program, worth about €112 million, to support key areas such as education, the green economy, and good governance.  Guinea-Bissau and the European Union (EU) signed, Thursday (May 4), a €17 million financing agreement to support the education and vocational training sector. The funding will enable...