The Board of Directors of the African Development Bank Group on 9 December 2022 in Abidjan approved $73.81 million to finance the Sudan Emergency Wheat Production Project under the Bank’s African Emergency Food Production Facility. Agriculture is the backbone of the Sudanese economy, accounting for 60% of total national exports and generating a third of its gross domestic product. It...

Corporate Council on Africa is pleased to announce that in June 2023, the Government of the Republic of Botswana will be the national host of Corporate Council on Africa’s 15th U.S.-Africa Business Summit (USABS). “Botswana welcomes the unique opportunity afforded by hosting Corporate Council on Africa’s 2023 U.S.-Africa Business Summit to capitalize on and sustain momentum from the...

Vodafone Group Plc is trying to exit its Egyptian subsidiary since 2020. After the failure of its negotiations with Saudi group STC, it turned to its African subsidiary Vodacom.  South African telecommunications company Vodacom Group finalized, Thursday (December 8), the acquisition of a 55% stake in Vodafone Egypt. The over-the-counter transaction (on the Egyptian Stock Exchange) saw...

UN forecasts show that by 2023, the number of food-insecure populations could rise in Central and West Africa, which face tense security and food situations if actors fail to take action. Per its estimate, nine million children are at risk.  The number of hungry people in Central and West Africa could rise to 48 million in 2023, a recent World Food Program release...

One of the promises of financial investments is to profitably roam through economic cycles.  However, on the West African stock market, BRVM, this may be an unfulfilled promise in 2022 with stocks losing value and earnings growing slower than inflation. Friday, December 9, 2022, data shows that this year, the WAEMU stock market (BRVM) has been unable to protect its investors against the...

The 17th African Economic Conference ended on Sunday with a charge to the development community and governments to take decisive actions to address climate change. The African Development Bank, United Nations Economic Community for Africa, and United Nations Development Programme, the conference hosts, called on participants to walk the talk by producing concrete solutions for climate-smart...

The 2022 Africa Visa Openness Index (AVOI) report shows African countries making progress in their freedom of travel policies, most of which had been severely curtailed by the Covid-19 crisis. The annual publication, prepared by the African Development Bank Group in collaboration with the African Union Commission, is now in its 7th edition and was launched on Sunday on the sidelines of the 2022...

EPPM will start construction of the offshore platform and the onshore power plant in 2023 EPPM in Tunis, and Kivu Power in Kinshasa, have reached the final stage of securing all the administrative authorizations required to start the construction of their gas-to-power project on Lake Kivu in 2023. Kivu Power will install on the Lake Kivu an offshore methane gas extraction and treatment...

While praising the resilience of African banks in complex domestic and international conditions, Fitch Ratings believes that persistent imbalances in China or a government debt crisis in the region are risks to watch. Government debts and developments in the Chinese economy will test African banks’ current ability to withstand the shocks of rising global inflation, Fitch Ratings warns in its...

As demand for broadband internet is growing, MTN wants to anticipate shifts in the demand to meet current and future industry challenges and remain competitive in the market.  MTN Group has contracted its long-time partner Teoco, which specializes in network analysis, assurance, and optimization solutions, to plan the extension of the fifth-generation (5G) mobile network of its South...