MTN Ghana is the leader of the Ghanaian telecom market with a 65 percent market share, according to the latest data from the National Communications Authority (NCA). At the end of the 2021 financial year, the operator’s revenue was around $604.5 million.   Ghanaian telecoms operator Scancom Plc (MTN Ghana) recorded a total revenue of 9.91 billion cedis ($776.5 million) in the 2022...

To cushion the impacts of various global shocks on its economy, Egypt has implemented several reforms in areas such as industry, food self-sufficiency, and investment. However, further measures are needed to strengthen economic resilience. Egyptian President Abdel Fattah al-Sissi (photo) has taken five new measures to improve people's living conditions, the presidency announced last...

One month after the WAEMU adopted a regulation aimed at modulating Islamic securities, the local financial markets authority (AMF-UMOA) signed an instruction setting out the guidelines for Islamic mutual funds’ operations. In an instruction effective since February 20, 2023, the West African financial markets authority AMF-UMOA set the guidelines for the creation and operation of Islamic...

COVID-19, floods, and the war in Ukraine have harmed South Sudan, whose growth dropped from 12.9% to -4.9% between FY 2019/20 and FY 2020/21. The numerous economic reforms implemented by the authorities are gradually reviving the economy. South Sudan is expected to record positive growth in FY 2023/24 after the negative figures it recorded in the previous three fiscal years. According to an IMF...

While 4G will remain the main driver of growth in the Sub-Saharan African mobile market by the end of the current decade, the GSMA expects 5G to capture 16% of all subscriptions by that time.  Smartphone adoption will reach 87% in sub-Saharan Africa by 2030, up from 51% in 2022, according to the “The Mobile Economy 2023” report released on Feb. 27, 2023, by the Global System Operators...

African economies remain resilient with a stable outlook in 2023-2024, despite the tightening global financial conditions, the African Development Bank has projected in a new report. The report, Africa’s Macroeconomic Performance and Outlook (MEO) 2023, estimates Africa’s average GDP to stabilize at 4% in the next two years, up from 3.8% in 2022. Presenting the report on 17 February on the...

In its financial results for the fourth quarter of 2022, the Moroccan insurer posted a $521.3 million turnover for 2022, slightly above the 2021 turnover.   Last Tuesday, Moroccan insurance company Atlanta Sanad Assurances posted its Q4-2022 report. In the report, the company posted a MAD5.4 billion ($521.3 million) turnover for 2022, slightly above the MAD5.4 billion ($521 million)...

Econet Wireless controls 67% of the Zimbabwean telecom market. To improve its services and strengthen its leading position, it wants to accelerate the modernization of its network.   Telecom operator Econet Wireless Zimbabwe recently inked a new partnership agreement with Swedish technology company Ericsson to upgrade its network infrastructure across Zimbabwe. The agreement was signed last...

Five days after a tight presidential election that broke turnout records, Nigeria now has the name of its new president. At 70, Bola Tinubu who has long been considered a kingmaker will now lead Africa’s most populous country, which is facing a serious economic and security crisis.   Nigerian veteran politician, Bola Tinubu (photo) is the winner of the February 25 presidential election....

Representatives of the African Development Bank and the United Nations Refugee Agency have conducted a joint visit to Central African Republic to explore the potential of joint initiatives for durable solutions to sustain the returns of refugees and internally displaced people. The UNHCR team, led by Raouf Mazou, Assistant High Commissioner for Operations together with Director of the Transition...