With such performance, China now accounts for one-fourth of Nigeria's imports.   Trade exchanges between Nigeria and China reached US$26 billion in 2022, announced Allen Zhang, head of the commercial office of the Chinese embassy in Nigeria last Thursday.  "The trade relationship between Nigeria and China is a win-win relationship. Last year, the trade volume between Nigeria and China...

One of the ambitions of the Beninese government's action program is to make digital technology one of the drivers of economic and social progress. Last Wednesday, during its ministerial council, Benin approved its 2023-2027 national artificial intelligence and mega data strategy (SNIAM). The strategy aims "to position Benin as a country able to seize current and future artificial intelligence...

Three years earlier, the bank had already secured a €25 mln loan from the same institution to support its small business lending activity. Last Friday, investment fund Sanad, which focuses on financing micro, small and medium-sized enterprises (MSMEs) in North Africa and some sub-Saharan African countries, granted a €25 million (US$27.2 million) credit line to Moroccan financial...

CFAO is expanding distribution for luxury automaker Mercedes‑Benz in four more African countries: Cameroon, Côte d’Ivoire, Ghana and Senegal. These four markets add to the existing CFAO Mobility network of Mercedes-Benz dealerships, established over the course of a 23-year partnership with the prestigious German brand, which is cementing its position as a leading manufacturer with a pivotal...

On Friday 20 January 2023, the Africa Tax Desk of audit group Grant Thornton organized a conference, in Côte d'Ivoire, detailing what to expect with the implementation of the Base Erosion and Profit Shifting multilateral instruments (MLIs). Participants at the hybrid conference had the opportunity to listen to an OECD expert, Cameroonian and Ivorian tax officials, and Grant Thornton’s...

In 2014, the Sierra Leonean government tried to get support from the World Bank for the implementation of its digital transformation project, but the process was unsuccessful because the international financial institution blamed Freetown for poor resource management.  In Sierra Leone, the Minister of ICT Mohamed Rahman Swarray recently announced that the World Bank would support the...

The performance was supported by a rise in its commission income and revenues from intermediation activities. Attijari Bank Tunisia, the local subsidiary of Moroccan banking group Attijariwafa Bank, recently reported a 9.99% increase in its net banking income (NBI), which rose to TND574.8 million (US$187 million) at the end of 2022. The rise was supported by a 10.16% growth in Attijari's...

According to the United Kingdom, more than 1.2 million children suffer from severe acute malnutrition and nearly 1 million pregnant and lactating women need support for moderate acute malnutrition in Ethiopia.  The UK announced, Friday (Jan 20), a US$20 million support for Ethiopia's drought and conflict-affected areas.  The support will be provided through two funds. ...

With the ongoing digital transformation, African businesses need more internet capacity to support their operations, and local and foreign companies are stepping up investments in building data centers to better meet the growing demand on the continent. Africa Data Centres (ADC) announced, Thursday, it launched the construction of an additional data center in Nairobi, Kenya. The new...

Through its investment branch Sanlam Investments, the insurance company acquired SkipWaste, which then becomes the fourth firm to join its SPE Mid-Market Fund. African insurance giant Sanlam has indirectly acquired a majority stake in SkipWaste, which provides waste management solutions to industrial, commercial, and individual clients. The amount paid for the acquisition and the exact shares...