Over the past five years, competition has intensified in the Egyptian telecom market with operators taking action to reinforce their positions amid growing demand for broadband connection and new services. Last Wednesday, telecom operator Etisalat Egypt signed an EGP4 billion (US$132.4 million) funding agreement with Commercial International Bank (CIB). The funding is expected to help the...

MTN Group President and CEO Ralph Mupita has called for the modernisation and harmonisation of regulatory frameworks across Africa as well as the collective effort of all stakeholders to ensure that the continent can deliver universal broadband coverage by 2030. “The regulatory frameworks for Africa’s telecommunications industry do not reflect our current advancement. They are still...

An African Development Bank-funded project in Sierra Leone is fast building technical and business skills for young people in the country. Approved by the bank’s board four years ago, the Freetown Water, Sanitation, Hygiene and Aquatic Environment Revamping Project has strongly supported training and helped form micro and small enterprises groups for water meter installation. High youth...

Africa’s push for food sovereignty and resilience depends on investments and partnerships, African Development Bank Group president Akinwumi Adesina said on Thursday at the Dakar 2 Food Summit a food summit in Senegal. Speaking during a panel discussion on Building Multilateral partnership and financing support, Dr Adesina outlined how the bank was using technology to spur agricultural...

In 2021, the Zimbabwean telecom market was hit by steady price rises. Subscribers who can still afford mobile services are now facing network availability issues. In Zimbabwe, there is a serious deterioration in the quality of telecom services, according to the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ). According to Vengesai Magadzire (photo), Head of Industry and...

Tractafric Motors Côte d'Ivoire sold fewer vehicles in the first nine months of 2022, compared to 2021, but it generated more money and a slightly higher profit. This was seemingly not enough to end the decline in its stock performance.   Since January 2023, the stock value of Tractafric Motors Côte d'Ivoire has dropped 7.67% after a 24% decline in 2022 when the share recorded the...

The mining sector is a strategic market and is vital for the Democratic Republic of Congo (DRC). The country has mineral resources which are unmatched in the world: it is Africa’s largest producer of copper and the world’s biggest producer of cobalt. The economic impact of mining accounts for more than 25% of GDP. Over the years, numerous multinational companies have established themselves in...

Thousands of youths in Malawi have gained employment and some have even created jobs for their peers, thanks to a project supported by the African Development Bank.  The Jobs for Youth in Malawi project implemented between 2017 and 2022 has helped develop an entrepreneurial culture among young people, from primary school to university according to the project completion report released by...

The African Development Bank Group and the Government of Canada have established a new special fund to support Africa’s small and medium-sized enterprises (SMEs) in the agriculture sector. The Agri-food SME Catalytic Financing Mechanism aims to catalyze and de-risk investment for agriculture SMEs, as well as strengthen agricultural value chains and improve food security across the continent....

For years now, Senegal has been implementing the Plan for an Emerging Senegal (PES) to accelerate industrialization, improve human capital, and good governance and establish the rule of law. This bid is supported by technical and financial partners. The International Islamic Trade Finance Corporation (ITFC) and Senegal recently signed an over US$435 million financing agreement, the ITFC...