After leading a $100 million fundraising in early April for British payment infrastructure company TerraPay, IFC plans to provide a loan to the company's Mauritian subsidiary to support its business. The International Finance Corporation (IFC) plans to provide a $30 million loan to the Mauritian subsidiary of payments company TerraPay. The financing project was announced on Monday,...

The South African presidency indicates that Japan, which will host the next G7 Summit in May, has decided to invite the African Union rather than individual African countries. The Japanese government has invited the African Union (AU) to the upcoming Summit of the International Group of Seven (G7). This is revealed in a statement published by the South African Presidency on Monday, April...

In 2013, Orange invested in a cable connecting Tunisia and Europe by signing an investment-sharing agreement with Ooredoo.   Last week, French telecom operator Orange announced it would build a subsea cable linking the cities of Bizerte in Tunisia and Marseille in France. The new 1,050 km long infrastructure will provide an additional route of several fiber pairs with a capacity of 20...

According to the Ministry of Finance, eased inflationary pressures will contribute to the achievement of the 5.3 percent growth target for the 2022/2023 fiscal year.   Uganda's economy grew by 6.8% in the first half of the 2022/23 (July 1-June 30) fiscal year, according to a release published by the Ministry of Finance today. The performance is up from the 3.7% achieved during the...

South Africa hosted its first investment conference from October 25 to 27, 2018. At the time, Vodacom committed to investing ZAR50 billion over five years to upgrade and expand its network infrastructure in the country. Pan-African telecoms company Vodacom Group announced on Friday (April 14) its commitment to investing ZAR60 billion ($3.3 billion) in its South African operations over the next...

In recent years, there has been a multiplication of special economic zones (SEZs) in Africa.  These zones are the backbone of national industrialization policies with more liberalized trade rules. However, despite some noticeable successes, the performance of most of them has been below expectations.  In Africa, the number of special economic zones (SEZs) is steadily rising but they...

Pan-African conglomerate AXIAN, a group that specialises in services and infrastructure, and the prestigious school 42 are pleased to announce a partnership to open a new 42 campus in Antananarivo by the end of the year. This will make Madagascar the second African country to join the orld’s largest network of digital academies, offering free trainings and courses that are innovative and open...

The government of Tanzania, the African Development Bank, and the French Development Agency (AFD) have signed agreements for two development project loans worth $300 million. The funds will finance the construction of the 87.8-megawatt Kakono Hydropower Plant located in Kagera region in the northern part of Tanzania. The project also received a grant of EURO 36 million from the European...

The Board of Directors of the African Development Bank Group has approved a trade finance transaction guarantee facility to Banque Commerciale Du Burundi (Bancobu). Leveraging Bancobu’s strategic footprint in the East African nation, this instrument will provide support to Small and Medium Sized Enterprises (SMEs) and local corporates, to facilitate their import and export trade finance...

Amazon Web Services believes that its investments in South Africa over 2018-2029 will contribute $4.4 billion to the country's GDP and create 5,700 full-time jobs. Amazon Web Services (AWS), the dedicated cloud computing arm of U.S. web giant Amazon, announced on Thursday, April 13, that it will invest an additional $1.7 billion in South Africa by 2029. The package is part of a larger...