The Board of Directors of the African Development Bank Group approved a loan of EUR 74.25 million to Cameroon in Abidjan on 14 December 2023 to implement the first phase of the Electricity Sector Recovery Support Programme (PARSEC). The programme will support the Cameroonian government to implement the reforms necessary in the energy sector in 2024 and 2025 so that, in the long term, the country...

Scatec Solar will use this IFC assistance to expand its operations in Chad, where 11% of the population has access to electricity, and in Cameroon, where electricity supply is irregular. The renewable energy producer also plans to extend its solar solutions to several other sub-Saharan countries. The International Finance Corporation (IFC) announced on December 13, 2023, the signing of...

The two institutions have agreed to reinforce their collaboration in raising funds for green projects. The West African Economic and Monetary Union (WAEMU) alone aims to raise over $100 billion by 2030 to achieve its climate objectives. The WAEMU Commission reached a partnership agreement with the West African Development Bank (WADB) to promote green projects and fight climate change on...

Meeting in Abidjan on 13 December 2023, the Board of Directors of the African Development Bank Group approved a loan of $105.19 million to Angola to implement the Agriculture Sector Reform Programme. The programme is intended to strengthen agriculture policy and the business environment to improve food production and contribute to economic diversification. "The Agriculture Sector Reform...

The funds will finance growth-oriented reforms, promote competition in key sectors, encourage sustainable use of natural resources and expand access to health and education services. The World Bank has approved the disbursement of $300 million to support economic growth in Cote d’Ivoire. In a December 8 statement, the lender said the aid is aimed at helping the country achieve...

After initial sanctions and threats of military intervention, ECOWAS appears to be shifting its strategy. The organization is now willing to lift sanctions against Niger, following an agreement on a transition and the release of President Bazoum. ECOWAS is reportedly open to discussing a transition with the Niger coup leaders, as indicated in the final statement released after the 64th summit of...

The Board of Directors of the African Development Bank Group approved loans of almost USD 250 million to Rwanda in Abidjan on 1 December 2023, to improve the population’s access to water and sanitation services. The Sustainable Water Supply and Sanitation Program for Transformation, currently in Phase I, will receive a loan of USD 199.5 million from the Bank, and another of USD 50 million from...

To develop faster, Madagascar will fully liberalize its telecommunications sector. The country’s telecom watchdog, the ARTEC, launched a tender in this framework last week.  Madagascar’s ICT regulator, the ARTEC, will award interested firms with licenses to launch and run public satellite communication networks. Applicants must submit their bids between 28 December 2023 and 28 March...

Vista Group is among the African companies that are taking advantage of Société Générale’s decision to exit more African countries.  Société Générale, the French banking group, sold its subsidiaries in Burkina Faso and Mozambique to the Vista Group, a pan-African banking group owned by Burkinabe Simon Tiemtoré.  The French group announced the full sale in a statement dated...

The ECOWAS Bank for Investment and Development (EBID) extended a line of credit totaling EUR 30 million to MANSA Bank in a ceremony held in Abidjan, Côte d'Ivoire on December 6, 2023. This facility which is exclusively dedicated to SMEs/SMIs operating in the agricultural value chain, will support agribusiness in various ways including transport, storage and processing of agricultural...