The Congo has been implementing an IMF-supervised economic program since early 2022. According to the international institution, the country made noticeable progress but the recovery could be slowed by some challenges. Congo's economic recovery will strengthen this year despite persisting risks, the IMF indicated in a release dated February 6, 2023. According to the Fund, this improved...

The move aims to support creative industries in a context where many African countries are looking for strategies to support that industry. Zambia has suspended import duties on film and music equipment, President Hakainde Hichilema recently announced on Twitter. The government official's Tweet also mentions the equipment concerned, notably projectors, cameras, and headphones. Parties seeking...

Despite increasing climate threats in Africa, demand for climate risk insurance is still low on the continent. This is due to the high prices of insurance premiums, insurers' inability to offer attractive products, and consumers' unawareness of the existing solutions. In mid-2022, Faber Consulting and the African Insurance Organization published the 2022 edition of the report "African Insurance...

The move aims to help MTN Ghana reduce operational pressure in a difficult economic environment. This initiative was previously announced but later postponed.  Telecom operator MTN Ghana announced, Friday (Feb 3, 2023), a 15% hike in its mobile internet access rates. According to an SMS sent to subscribers, the new rates will become effective next Tuesday. On November 10, 2022, in a...

Egypt is pursuing, since 2019, a policy aimed at strengthening its private sector. The policy translates into the privatization of state firms and increased financing to private actors. The Egyptian government and the European Bank for Reconstruction and Development (EBRD) have launched a new US$175 million private sector development program to promote the green economy. The information was...

Established African startups, looking for new avenues for profitability, are increasingly searching for competitors they can acquire to enter new markets, expand product lines or access innovative technologies. Consolidation is accelerating in the African tech scene amid a cooling venture capital market, a frantic search for profitability, and a search for new growth opportunities, according to...

The 2nd Dakar Financing summit For Africa's Infrastructure Development has opened in the Senegalese capital with sixty-nine infrastructure projects worth $160 billion on showcase. African heads of government, the African Development Bank, development finance institutions, and institutional investors will gather to draw the modalities for pushing the projects to completion by 2030. The...

The African Development Bank’s Transition States Coordination Office organized a training workshop in Yaoundé to strengthen the capacity of Regional Member Countries and Regional Economic Communities on the Strategic and Operational Application of the Fragility Lens.   The training was led by Bank staff from several departments with support from the Bank’s Central Africa Regional...

In Nigeria, the rapid adoption of the redesigned bank notes has accelerated demand for the CFA Franc in the States neighboring CEMAC and WAEMU countries even though those states are not covered by the central banks of the two CFA zones. In five Nigerian states, several communities and economic agents are now using CFA Franc to settle their commercial transactions, many local media reports. The...

The country, which was already affected by the coronavirus pandemic, had to cope without aid from some donors. According to the IMF, with international prices still on the rise, its economic outlook is deteriorating.   In the Central African Republic, the 2023 economic outlook has worsened due to the Covid-19 crisis and soaring international prices, which led to accelerating inflation, the...