This is the best performance recorded by the bank since 2020.  Société Ivoirienne de Banque recently posted XOF26.6 billion (US$43 million) as its interim net profit for the nine months ending September 30, 2022.  Year-on-year, the performance is up by 17%. It is also the best performance since 2020 when the global economy was affected by the coronavirus pandemic. During the same...

With the restructuring process ongoing at Angola Telecom, the government wants to leverage the private sector’s expertise to strengthen the capabilities of its incumbent operator in a context marked by accelerated digital transformation.    Angola has contracted a consortium led by asset manager Gemcorp to renovate and expand incumbent operator  Angola Telecom's...

The USA wants to warm up its diplomatic and economic relations with Africa to become one of the main partners on the continent. For that purpose, for the first time in the last eight years, it invited African leaders for a US-Africa summit that enabled it to mark its return in the influence of ongoing warfare on the continent.  From December 13 to 15, the United States brought together...

African leaders and the United States government have underlined the the need for increased investment and prioritization of nutrition across the African continent. The African Development  Bank through the African Leaders for Nutrition, the Nutrition CEO Council and the African Union Commission convened a high-level discussion on 12 December, on the sidelines of the U.S.-African Leaders...

The Board of Directors of the African Development Bank Group has approved a $10 million Trade Finance Transaction Guarantee (TG) to Banco Fomento de Angola S.A. (BFA). Leveraging BFA’s strategic footprint in Angola, this guarantee will provide support to Small and Medium sized Enterprises, including women-led businesses. The move will facilitate the import and export trade finance...

The Board of Directors of the African Development Bank Group has approved a loan of €39.30 million to the government of Senegal on Friday, 16 December 2022, to implement the first phase of the National Livestock Integrated Development Support Project. The project will support national policy on sanitary and veterinary prophylaxis. It will support the national rollout of five vaccination...

The Board of Directors of the African Development Bank Group on 15 December 2022 in Abidjan approved the Mauritius Country Strategy Paper for 2022-2027 and the implementation of the identified priority development areas. In addition to building economic resilience by improving the business environment and high value-added production, the Bank plans to focus its development efforts on sustainable...

In April 2021, the Cabo Verdean government renewed incumbent operator Cabo Verde Telecom’s concession, giving it more operating power. The operator then embarked on a reorganization process to move into new segments as the traditional business segment was declining.  Cabo Verdean incumbent operator Cabo Verde Telecom (CVTelecom) will merge with its subsidiaries CVMóvel and CVMultimedia...

The dream FTX Group sold to its investors turned to disillusionment with the firm filing for bankruptcy. Up to a few weeks ago, the firm was still attractive to many corporations and individuals, even in Africa, which hosts some of the victims of this new scandal.  Only a few African media outlets have covered the bankruptcy proceedings involving FTX Group, which was one of the most...

The project was validated in 2018. Overall, US$534 million will be contributed for the rehabilitation of the corridor and the improvement of procedures.  Last Wednesday, the USA officialized a US$504 million grant awarded under the Millennium Challenge Compact program to improve efficiency and rehabilitate the Cotonou (Benin)-Niamey (Niger) corridor. The project was approved in September...