The recent fighting in Sudan has already displaced 300,000 people. The UN is appealing for help as it fears it would not be able to provide the required aid to the growing number of refugees.   The United Nations High Commissioner for Refugees (UNHCR) expects some 860,000 refugees and returnees from Sudan by October 2023. According to the Interagency Regional Refugee Response Plan...

Last year, Rain attempted to merge with Telkom to improve its position in the growing South African telecom market. However, after the merger fell through, the operator decided to enhance and diversify its offerings. South African data provider Rain recently unveiled its 4G services, "becoming the fourth telco to do so after Vodacom, MTN, and Telkom, with a network that offers national coverage...

The investment is the mezzanine fund manager’s third in Morroco and 34th in Africa. The operation marks the exit of AfricInvest, which will leave Promamec after 5 years of collaboration. Vantage Capital, the Africa-focused mezzanine fund manager, announced, Thursday (May 4), a €30 million ($33 million) equity investment in medical device wholesaler Promamec.  With this investment,...

Pioneer in renewable energy in Africa, Africa REN announces a change in the shareholding of Senergy 2 solar power plant. Historical shareholders have sold to a new investment vehicle set up by Africa REN and its partners. Located in Bokhol, in the north of Senegal, Senergy 2 was commissioned in 2016, making it the first solar photovoltaic power plant in West Africa. In 2021, Africa REN raised a...

In September 2022, MTN became the first telecom operator to deploy 5G in Nigeria. In a context marked by growing demand for broadband internet, the operator wants to accelerate the adoption of the latest generation of mobile technology in the country. Telecom operator MTN Nigeria hopes to cover 10% of the Nigerian population with its fifth-generation (5G) mobile network by the end of the year....

DRC's economy grew from 5.7% in 2021 to 8.9% in 2022. The growth was driven by strong performance in the mining sector and the revival of non-extractive activities. The Democratic Republic of Congo (DRC) reached a staff-level agreement with the IMF for 152.3 million special drawing rights ($203 million) in balance-of-payments support. The support was announced in a release published by the...

The liberalization of Ethiopia’s banking sector, promised in early 2022 by Prime Minister Abiy Ahmed, is eagerly awaited by many African banks, including South Africa's Standard Bank and Kenya's KBC Group. Ethiopia will grant three to five banking licenses to foreign investors over the next five years as part of a program to open up the financial services sector to foreign competition, the...

The Africa Road Builders Selection Committee has named Madagascar’s  President Andry Rajoelina, the winner of the prestigious Babacar Ndiaye Trophy, for his commitment to infrastructure development in the island state. He succeeds Tanzanian President Samia Suluhu, who won the award in 2022. According to a press release by the Committee, members chose President Rajoelina at a meeting held...

Lillian Barnard has been the managing director of Microsoft South Africa since 2019. Kalane Rampai will replace her. Microsoft appointed South African Lillian Barnard (photo) as president of Microsoft Africa. The US tech giant announced on May 2.  Barnard has been working in the ICT industry for more than 25 years. She has held local and international leadership positions at companies such...

Sao Tome and Principe is one of the last African countries to adopt 4G. In 2021, its incumbent operator, CST, had to pressure the telecom regulator to speed things up.  Telecom service provider Unitel STP recently announced the launch of its fourth-generation (4G) mobile network in Sao Tome and Principe. The operator becomes the first in the country to deploy this "cutting-edge" technology,...