Fitch Ratings has downgraded France's credit rating to the lower tier of high-quality debt (AA-), drawing criticism from French Finance Minister Bruno Le Maire, who views the agency's decision as a pessimistic assessment of the nation's growth prospects and debt trajectory. Le Maire claims the downgrade overlooks the structural reforms implemented by the French government, including unemployment...

SITAB, Côte d'Ivoire's leading tobacco firm, delivered a standout performance in 2022, posting record revenue of 151.1 billion CFA francs and net profit of 11.2 billion CFA francs, despite grappling with increased taxes and fierce competition in the sector. Investors appear to be taking notice, with SITAB's price-to-earnings ratio improving to 9.15x from 21.5x in 2019, signaling that the...

In line with its 2021-2025 National Development Plan, Côte d’Ivoire has signed several cooperation agreements with Canada to implement development projects, improve the well-being of its population and stimulate sustainable and inclusive growth.  Côte d’Ivoire and Canada recently signed a CFAF25 billion memorandum of understanding for development projects. The agreement was announced...

Nigeria has to choose between satisfying its vulnerable population and reassuring international debt markets. The decision will be up to the newly elected president but, in any case, it will not be an easy one.  In international debt markets, Nigerian debt securities are being sanctioned by investors and have lost value, signaling a decline in investors’ interest. Technically, this does...

The Ghanaian government launched the telecom subscriber identification campaign in October 2021. More than a year later, millions of people are yet to register their SIM cards despite the deadline being extended several times.   Ghana's National Communications Authority (NCA) plans to deactivate some 11.1 million active SIM cards on May 31, if they are not registered before then. The...

On the occasion of its Annual Meetings, to be held from 22 to 26 May 2023 in Sharm el Sheikh, Egypt, the African Development Bank Group plans to highlight the role that multilateral development banks could play in building a new development architecture beyond the financial.  The importance of this subject stems from the fact that multilateralism is currently facing significant challenges,...

The African Development Bank has signed a $525,000 grant agreement with Africa Fintech Network (AFN) for the setup of the Africa Fintech Hub, an online portal that will serve as a one-stop shop for all fintech activities in Africa. The agreement was signed on 4 April 2023. The Africa Digital Financial Inclusion Facility (ADFI) will provide funding and technical assistance to the Africa...

The U.S. investor, which marked the first close of its Global South Fund II, is focusing on two new priority areas, namely AI and climate technology.  Capria Ventures, a U.S. venture capital firm that invests in startups in Africa, Asia, and Latin America, announced the first closing of its Global South Fund II on Tuesday, April 25. The vehicle will fund 20 to 25 technology companies that...

More than three-quarters of the investors who invested in African startups in 2022 were venture capitalists. This inflow allowed the continent to withstand the market cooling caused by economic uncertainties and geopolitical risks better than the other continents.   U.S. and U.K. investors accounted for 49.2 percent of the venture capital industry players who injected funds into...

ARISE Integrated Industrial Platforms (ARISE IIP), a developer and operator of world-class industrial ecosystems across Africa, in partnership with the Republic of Sierra Leone, is proud to announce the launch of construction of the  SIZ - Koya industrial zone. This asset, in line with ARISE IIP’s ambition to unlock Africa’s industrial potential, will support the Republic of...