Though robust, Ethiopia's economy faces many challenges that have constrained growth in recent years. With the support of international partners, authorities are pursuing several policies to improve its resilience.  Ethiopia and the World Bank signed, Tuesday, two grant agreements amounting to US$745 million to strengthen the health sector and control floods. In the country, the COVID-19...

Thanks to the government's response to Covid-19 and international financial support, Mauritania's economy is now recovering. But, some factors are still threatening that recovery. With IMF support, the country wants to strengthen its economic stability to avert those risks.  The IMF announced, Wednesday (January 25), an about US$86.9 million Extended Credit Facility and Extended Fund...

According to recent research by the international rating agency Fitch Ratings, the Nigerian Islamic finance industry is expected to continue to grow over 2023-2024, supported by the issuance of sukuk, the growth of Islamic financing, and flexible regulations. Nigeria, home to Africa's largest Muslim population, is also the largest sukuk (Islamic financial securities equivalent to bonds in...

The operation, provided by the 2020 Electronic and Postal Communications (SIM Card Registration) Regulations, was supposed to end on January 31, 2023. However, the government is allowing an additional 14 days for Tanzanians who are yet to comply to do so. The Tanzanian government has extended the SIM card verification by another 14 days. The new deadline is February 13, instead of January 31,...

The African Development Bank Group, will commit $10 billion over the next five years to boost Africa’s efforts to end hunger and become a primary food provider for itself and the rest of the world. Bank Group President, Dr Akinwumi Adesina, announced Wednesday at the Dakar 2 Africa Food Summit in Diamniadio, east of the Senegalese capital of Dakar. Adesina called on more than 34...

Earlier this month, the country unveiled its new roadmap to achieve food security by 2029. The plan requires an US$8 billion investment. Senegal will seek XOF1, 600 billion (US2.6 billion) from financial institutions during the Dakar 2 Summit, Agriculture Minister Ngouille Ndiaye announced last Tuesday. According to the government official, the financial resources will fund up to 30% of the...

Mafab Communications was supposed to launch its 5G services in August 2022 at the same time as MTN, with which it was awarded the 5G license in December 2021. The process was slowed since it was yet to acquire its telecom operating license.  Last Tuesday, Mafab Communications officially launched its fifth-generation (5G) mobile network services in Nigeria, joining MTN in the ultra-broadband...

The Société d’Investissement et de la Promotion de l’Indusrie (SIPI-BENIN S.A.), in charge of Glo-Djigbé Industrial Zone development, is proud to announce that it has been awarded on January 13, 2023, three (03) ISO certifications including ISO 9001:2015 (quality management), ISO 14001:2015 (environmental management), and ISO 45001: 2018 (Occupational health and safety management system)....

The fund follows two investments already made by Criterion in Form Ghana. Last Monday, private equity firm Criterion Africa Partners, announced it committed US$17.1 million to the Ghanaian company Form Ghana, which manages forest plantations and is involved in the reforestation of degraded forest reserves. The investment will enable Form Ghana to enter a new phase of commercializing carbon...

Swiss ambassadors meeting in the Ivorian commercial capital Abidjan invited a senior management team from the African Development Bank Group to exchange views on development and cooperation. The envoys held a working luncheon, hosted by the Swiss assistant state secretary for Sub-Saharan Africa, Siri Walt, on Friday 20 January. Ambassador Walt is the head of the Africa Division at the Federal...