Thanks to backing from existing shareholders Hollard and Yellowwoods, but also new investors DEG and the International Finance Corporation, the digital insurance platform Naked wants to expand its offerings in South Africa, the largest insurance market in Africa. South African comprehensive insurance platform Naked recently secured US$17 million in Series B funding. The funding is provided by...

The American economist selected as the 13th World Bank President announced he would resign in June 2023, about one year before the end of his mandate. No specific reason has been given to explain that decision for the time being. World Bank Group President David Malpass (photo) will step down in June 2023, one year before his official term ends. The official announced the decision in an official...

As the demand for digital services continues to grow in Africa, MTN is investing in upgrading its telecom network in its various African markets to better meet this demand. Pan-African telecom group MTN announced, Wednesday, it will invest US$1 billion in its Ghana business over the next five years. Much of the investment will be spent on the deployment and expansion of fifth-generation (5G)...

Nicolas Dufourcq, CEO of Bpifrance and Gagan Gupta, Funding president of Arise IIP, a pan-African developer and operator of industrial parks, have signed a memorandum of understanding to develop joint co-industrialisation projects and facilitate business ecosystem connections between Africa and France, in cooperation with all Bpifrance offices on the continent.In the framework of...

Orange Madagascar is stepping up investments in rural infrastructure to bring mobile services to the unconnected half of the Malagasy population. The company signed an agreement in January with NuRan Wireless to build 500 new telecom sites over ten years. Telecom operator Orange Madagascar has signed an agreement with telecom tower builder Africa Mobile Networks (AMN) to further expand its...

The increase in the cumulative net banking income of the listed banks contributed to an 11.5% rise in the aggregate incomes of all of the listed financial companies in Tunisia. During the period, Banque Internationale Arabe de Tunisie (BIAT), the Islamic bank Wifack International Bank and the Arab Tunisian Bank (ATB) recorded the highest increases in bank income. The net banking income (NBI) of...

Morocco managed to revive its economy after the coronavirus pandemic. However, that growth was slowed by several shocks. According to the World Bank, this year, the country plans to implement reforms to support its economy.  This year, Morocco's growth will accelerate despite pressures from supply shocks, the World Bank indicated in a press release dated February 14, 2023. According to the...

The African Development Bank has opened a second Information and Communications Technology Centre of Excellence at the United States International University-Africa in Nairobi. This marks an important milestone for the Bank’s Coding for Employment program and its growing partnerships with higher education and technical and vocational education and training institutions.  Representatives...

In Rwanda, the government wants to improve education quality by betting on innovation amid the accelerated digital transformation. Rwanda plans to connect about 3,000 schools to the internet. According to ICT Minister Paula Ingabire, who disclosed the plan during a plenary sitting of the chamber of deputies, the project is funded by China Exim Bank. Thanks to the China Exim Bank's US$30 million...

In 2022, the agency had already issued guarantees for Standard Bank Kenya to finance a road project. This time, its guarantee is for the construction of a rural road. The Multilateral Investment Guarantee Agency (MIGA) announced, Monday (Feb 13), the issuance of a US$51.44 million guarantee to South Africa's Standard Bank Group and its Kenyan subsidiary, Stanbic Bank Kenya Limited. The...