The Société Nationale des Pétroles du Congo (SNPC) will assume the presidency of the African Petroleum Producers Organisation (APPO)’s next meeting. This was agreed upon by the organization’s members when they convened in Algier this week for the 4th meeting of the National Oil Companies’ CEOs, members of the organization.   Chaired by Mr. Toufik Hakkar, CEO of Sonatrach, the...

In line with the strengthening of the CFAO Motors network on the African continent, Toyota Malawi Limited announces its change of name to CFAO Motors Limited. The two entities historically present in Malawi CFAO Malawi Limited and Toyota Malawi Limited have now been merged into a single company, CFAO Motors Limited. The CFAO Group subsidiary, which has been present in Malawi since 2002, is the...

The Board of Directors of the African Development Bank has approved a grant of $28.49 million for Ghana to construct renewable energy infrastructure that will increase its renewable energy use by 10% through 2030.  The financing, which will come from the Climate Investment Funds (CIF) Scaling Up Renewable Energy Program in Low Income Countries (SREP), will support construction of...

According to the GSM Association (GSMA), more than half of the Sub-Saharan African population has no access to mobile services. In that context,  telecom operators are exploring solutions to connect millions of digitally excluded people. Pan-African telecom group Vodacom wants to leverage low earth orbit (LEO) satellite capabilities to fill the coverage gaps in its telecom network in...

Rwanda and Uganda are now warming their bilateral ties after years of hostile relations. The memoranda of understanding signed by the two countries aim at facilitating cooperation in various areas.  Rwanda and Uganda recently signed memoranda of understanding to renew cooperation, the Rwandan Ministry of Foreign Affairs announced last Friday.  The cooperation agreements, signed during...

From the 21st to the 27th of November 2023, Côte d’Ivoire will host the 3rd edition of the Intra-African Trade Fair (IATF). The major event is the continent’s premier business forum for private sector actors in Africa. This year is a great opportunity for businesses working in Africa’s cocoa sector as the host country, Côte d’Ivoire, is the largest producer of the commodity in the...

On the sidelines of the Kinshasa French Week, Ecofin Agency interviewed Louis Odilon-Alaguillaume, Deputy Managing Director of Sofibanque. Agence Ecofin: What is Sofibanque's position in the DRC banking sector and what new growth opportunities are you targeting? Louis Odilon-Alaguillaume: With a balance sheet of over $1.1 billion, Sofibanque has become the 4th largest bank in the country....

Bolloré Africa Logistics in Rwanda, a major logistics operator in the region, is proud to announce its participation in the import of the first containers which will make up the first mobile vaccine production laboratory in Africa. On March 13, Rwanda received six mobile vaccine production units, marking the first shipment of its kind in Africa. Supplied by a major player in the global...

Through its innovative approach known as PesaPoa, which means “cool money” in Swahili, SBI is committed to making sustainable investments with high impact to micro, small and medium enterprises (MSMEs).  At least 40% of SMEs in Africa are women owned.  The total MSME finance gap globally for women according to the World Bank is US$1.7 trillion (over 6 percent of global GDP)....

M-Pesa is the leading mobile money service in Africa by transaction values. The platform, which boasts more than 15 years of experience in the industry, processed $366.7 billion in transactions in 2022. M-Pesa Africa, a financial services subsidiary of pan-African telecom groups Vodacom and Safaricom, inaugurated a shared services operations center (SSOC) in Nairobi, Kenya, on Wednesday,...