At the height of the Covid-19 pandemic, large hotel chains curtailed their operations in Africa. The end of the pandemic brought new life to the tourism sector, renewing their interest in the continent.  Marriott International, Accor, and Hilton are the three hotel brands with the highest number of planned hotels and rooms in Africa in 2023, according to the recently published “2023 Hotel...

Since emerging from the recession in 2020, Nigeria's economy has maintained a positive growth trajectory for nine consecutive quarters, according to the Central Bank. To support this consistency, the monetary policy committee decided to raise its policy interest rate. The Central Bank of Nigeria (CBN) has raised its policy rate by 50 basis points to 18 percent from 17.5 percent in January 2023...

After investing $100 million in the Commercial International Bank's first green bond issue in August 2021, the International Finance Corporation is partnering with the Egyptian private bank again to help it integrate climate risk into its systems and strategies. Egyptian private bank Commercial International Bank (CIB) has engaged the International Finance Corporation (IFC) to assist it in...

In 2022, Zimbabwe posted a 284% inflation, which greatly impacted residents’ cost of living and reduced purchasing power. To improve the general welfare of the population, civil servants especially, the government decided to double salaries. The Zimbabwean government has announced a 100% salary increase for public sector workers amid rising inflation. The information was reported by several...

Since 2013, Guinean authorities have been stepping up efforts to revive the state-owned telecom company, which went bankrupt a year earlier. Ten years later, the company is still not ready to return to the market. The Guinean government wants to capitalize on the expertise of telecom operator MTN Guinea to relaunch the commercial activities of state-owned operator Guinea Telecom. The issue was...

Water is an essential resource with direct impact on Africa’s economic potential: inadequate access to safe water, sanitation and hygiene services reduces economic opportunities. One in three Africans are affected by water scarcity. According to the 2022 WHO/UNICEF JMP report(1), 411 million people in Africa still lack basic drinking water service, 779 million lack access to basic sanitation...

In 2020, Liquid Intelligent Technologies accelerated its strategy to capture the African digital and connectivity market. In 2022, it launched commercial operations in Nigeria.  Liquid Intelligent Technologies has acquired Cysiv MEA, a technology company based in Cairo, Egypt. The acquisition, whose amount was not disclosed, marks the official entry of the Cassava Technologies subsidiary in...

The share sales come four years after Apis Partners joined the diversified financial services group Efficient Group. Once the deal is approved, its shares will be sold to a Bermuda-based financial services provider. London-based Asset manager Apis Partners plans to sell its entire stake in South African financial services group Efficient Group Limited. Apis, which will execute the deal through...

Guinea, which is currently undergoing a political transition, is now the happiest country in West Africa, according to the 2023 edition of the World Happiness Index. Ranked 5th in Africa and 91st in the world, it is ahead of Côte d'Ivoire, whose score has dropped from last year. Guinea is now the happiest country in West Africa. This is at least what the 2023 edition of the World Happiness...

On World Water Day the African Development Bank will join leading global stakeholders in calling for universal water security for Africans during the UN 2023 Water Conference which opens today in New York. The three-day conference will assess progress and evaluate additional steps to achieve UN Sustainable Development Goal 6 -- to ensure universal access to safe drinking water, sanitation and...