The company wants to capitalize on the growing demand for the internet that ensued with the accelerating digital transformation at a time when it is yet to impose itself in the South African market. South African open access telecom infrastructure provider Frogfoot is considering an international expansion this year, local media report. It also plans to increase its fiber-to-the-home (FTTH)...

In 2021, the two institutions had granted a US$170 million syndicated loan to Africa Finance Corporation, which is receiving the new loan. French institution Proparco and the German development finance institution DEG recently arranged a €150 million (US$162 million) loan facility for Africa Finance Corporation (AFC). The 10-year syndicated loan will allow AFC, which finances basic...

Africa is set to outperform the rest of the world in economic growth over the next two years, with real gross domestic product (GDP) averaging around 4% in 2023 and 2024. This is higher than projected global averages of 2.7% and 3.2%, the African Development Bank Group said in Africa’s Macroeconomic Performance and Outlook report for the region, released in Abidjan on Thursday. With a...

Côte d’Ivoire, which produces only 6% of the drugs used on its territory, wants to increase its production in the coming years. For that purpose, authorities are implementing a number of initiatives, in partnership with the private sector, to boost the pharmaceutical industry.  Côte d'Ivoire plans to build a new drug production plant, the government announced in a release published last...

From 2017 to 2020, South Africa's average yearly inflation was on a downward trend before rising again. From 6.4% in 2016, it dropped to 3.3% in 2020 then rose to 4.5% in 2021 and 6.9% in 2022.  For the second consecutive month, inflation dropped in South Africa, reaching 7.2% in December 2022, according to data published by Stats SA, the country's department of statistics, today. For the...

African heads of state and government together with development partners will gather in Senegal to strategically map plans to unlock Africa’s food-producing potential and position the continent to become a breadbasket to the world. President Macky Sall of Senegal, and Chairperson of the African Union, will host the three-day Dakar II Food summit from 25 January, with the African Development...

The Policy Brief published by Megatrends Afrika estimates that the strong presence of Chinese telecom operators in Africa improves connectivity and bridges the digital divide but it also creates new challenges    Despite the economic opportunities it offers, the growing engagement of Chinese telecom companies in Africa presents risks related to digital sovereignty, cybersecurity, and...

Thanks to this support from Proparco, Investec will become the second bank in South Africa to join the Transforming financial systems for climate, a climate-related program initiated by the French Development Agency, Proparco's parent company. South African bank Investec Bank Limited recently announced it has secured US$80 million in long-term senior credit facility from Proparco. Thanks to...

With US$91 billion provided, the World Bank remained the Sub-Saharan African countries' largest creditor in 2021. China, the leading bilateral creditor, accounted for US$79.5 billion and the cost of the region's debt service to Pekin dropped during the period. Sub-Saharan countries' external debt stock rose to US$790 billion in 2021, the World Bank's updated international debt data reveal. The...

The funding came just days after Kwara acquired software development firm Irnet and two years after its US$4 million seed round. Kenyan fintech startup Kwara recently announced it raised US$3 million in a seed extension round, to boost its presence in Kenya. "We think we’ve barely scratched the surface in the Kenyan market. And so, we are just going to be really investing in products and...