The two plants should make 100,000 cars per year, each. Egypt, which already has a well-established automotive ecosystem, is a favorite candidate to host one of them.   Japanese carmaker Toyota Tsusho is planning to set up two new plants in Africa, the group's senior executive adviser Jun Karube announced on May 2. "Toyota will establish two plants on the continent, each with a production...

Madagascar is one of the African countries most affected by food insecurity. In this context, the executive wants to increase its investments in the agricultural sector, which is the pillar of the national economy. In Madagascar, the government of President Andry Rajoelina plans to increase the share of the budget devoted to agriculture, livestock, and fisheries to 10% over the next five years,...

Most commodity prices are expected to decline sharply this year amid sluggish global economic growth. But gas, oil, coal, and food prices will remain above their average 2015-2019 levels.   With few exceptions, the prices of energy products, fertilizers, metals, and agricultural commodities are expected to decline in 2023 and remain largely stable in 2024, the World Bank (WB)...

The African space sector is growing. In the last twelve months, Kenya, Zimbabwe, Uganda, Angola, and Egypt have launched satellites into space. The Ivory Coast government is working with Universal Konstructors Associated (UKA) and a polytechnic institute to launch its first satellite, the Yam-Sat CI 01. The small observation satellite should be in space by August 2024, Adama Diawara, Ivoirian...

Sub-Saharan Africa could be the most hurt region in the world if the US and China were to stop trading with each other. To curb this impact, SSA countries should trade more with one another and develop sectors that are likely to benefit from changes in trade and foreign direct investment… In a recent analysis note published on May 1, the International Monetary Fund (IMF) warned that...

Amid speculation about an IPO, the potential value of ChatGPT, the collaborative AI language tool developed by OpenAI, is estimated at $29 billion. According to several unofficial reports, the advanced language model could attract investors and achieve high valuations. Investors have already acquired some of ChatGPT's shares for $300 million, which has led to valuations ranging...

The Japanese leader stressed that peace and stability are prerequisites for economic development and pledged support to Ghana in areas such as infrastructure and human resources development as well as food security.   Last Monday, Japanese Prime Minister Fumio Kishida (photo) pledged $500 million to promote peace and stability in Africa. The pledge was made in Accra, the second...

The recent operations on the WAEMU capital market show renewed investors’ interest in government securities. This bodes well for member countries despite the still uncertain economic context.  In the trading week of April 24 to 28, five government security issuance operations were carried out on the WAEMU public securities auction market. Overall,  CFAF 227 billion ($381.8 million)...

Over the past few years, thanks to its cyber safety actions, Benin has become an example in Africa. The intensification of its fight against online scams in recent months made national and international headlines, showing the country’s resolution to fight cybercrime. During the Cyber Africa Forum (CAF) held in Abidjan, Côte d’Ivoire, last April 24-25,  Ouanilo Medegan Fagla, the...

The Fund for Export Development in Africa (FEDA), the development impact-focused subsidiary of African Export-Import Bank (Afreximbank), has announced the accession of the Gabonese Republic and the Republic of Sierra Leone to the Fund through their recent respective signing of the FEDA Establishment Agreement. FEDA described the accession by the two countries as a significant milestone, which...