Tunisia's trade deficit has decreased by 23.5% in the first four months of 2024, dropping to TND4.77 billion ($1.53 billion) compared to TND6.23 billion during the same period in 2023. According to the National Institute of Statistics (INS), between January 1 and April 30 of this year, exports reached 21.24 billion dinars, up 4.8% from the same period last year, while imports stood at 26.01...

Primitive cooking methods fueled by wood, animal dung, or agricultural residues cause the premature deaths of 600,000 people in Africa annually due to respiratory diseases linked to inhaling toxic particles. Akinwumi Adesina, President of the African Development Bank (AfDB), announced yesterday the disbursement of $2 billion to facilitate access to clean cooking solutions across Africa over...

In Burkina Faso, Moov Africa reported a net profit of CFA5.2 billion (around $8.5 million) for the first quarter this year, up 10.7% compared to the same period in 2023 when net progit was CFA4.7 billion. The company hailed its investment strategy deployed to enhance service quality, customer experience, and promote fiber access across the country. Despite facing challenges such as...

The ECOWAS Bank for Investment and Development (EBID) has strengthened its transformative partnership with the Republic of Ghana by committing to inject USD 200 million into the Ghanaian economy through strategic alliances with the Ghana Export-Import Bank (GEXIM) and GCB Bank PLC. This was contained in a Memorandum of Understanding (MOU) signed by Dr. George Agyekum Donkor, President and...

Société de Limonaderies et de Boissons Rafraîchissantes d'Afrique (SOLIBRA), a subsidiary of the French group Castel with a 76.8% stake held by BGI, announced a net profit of CFA15 billion (around $24.69 million) for FY2023. This represents a robust growth of 1,139% compared to 2022, when the company reported a profit of CFA1.2 billion. The strong performance was driven by an increase in...

Amid strained relations between Benin and Niger regarding border openings, the government of Niger has issued a decree banning Beninese vehicles from operating on the corridor between Lomé Port in Togo and various locations in Niger. This decision, released on May 11 adds tension to an already complex situation for regional logistics stakeholders. According to the decree, transportation of...

The institution stresses that achieving sustainable and resilient economic growth in the longer term will depend on efforts to adapt to climate change. Without further investment in this area, average annual GDP losses could reach 19% by 2050. Benin’s economy should grow by an average of 6.2% per year between 2024 and 2026, the World Bank estimated in the 2nd edition of its report on Benin's...

AXIAN, a responsible pan-African group operating in 5 business sectors including energy and telecoms, strengthens its commitment to creating a positive impact in Africa through its appointment as Vice Chair of the United Nations Global Compact (UNGC) Indian Ocean Network. AXIAN’s CEO, Hassanein Hiridjee, has also joined the Advisory Council of the Africa Business Leaders Coalition...

Thirty-one companies listed on the West African Regional Stock Exchange (BRVM) have reported positive net margins for 2023, while four have announced losses. Despite reaching a record level, the cumulative net profit and dividend announcements have grown at a slower pace than in the previous two years. Based on the financial results of 35 BRVM-listed companies, excluding Ecobank, the total net...

Bilateral trade between Senegal and Rwanda remains relatively low, according to data from WTO. However, both nations established embassies in 2012 in Dakar and in 2020 in Kigali to bolster their ties, a vision seemingly pursued by the new Senegalese authorities. Senegalese President Bassirou Diomaye Faye hosted his Rwandan counterpart, Paul Kagame, during his visit to Dakar on May 11 and 12....