The funds pledged exceed the regional institution's initial target of €8.8 billion to finance infrastructure projects aimed at enhancing regional integration and economic diversification. CEMAC announced securing investment promises of €9.2 billion (about $10.04 billion) for thirteen regional integration projects during a roundtable held on November 28 and 29 in...

Morocco still has much room for improvement regarding healthcare, despite recent progress in this area. The country is stepping up its efforts to improve access and quality of care for the population. Morocco will allocate around $3 billion to its health and social protection sector next year. The Moroccan Press Agency (MAP) disclosed the news on November 27. Moroccan Prime Minister, Aziz...

The International Finance Corporation (IFC) announced a second commitment to the latest Apis fund. The move aims to support companies in Africa and Asia that develop disruptive financial solutions. The International Finance Corporation (IFC) announced a $75 million investment in the Apis Growth Markets III fund. The Corporation announced the news on November 27. This is $15 million...

In a year since it was launched at COP 27, the African Green Bank Initiative has kickstarted four green banks and helped the capitalisation of Rwanda’s green investment facility as part of its mission to help Africa overcome its climate finance barriers.  The African Development Bank (AfDB), through the African Green Bank Initiative, has kickstarted the creation of four green banks...

NJS Group announces that it has today finalized the acquisition of YARA CAMEROUN shares from Yara International ASA. The transaction has been approved by the relevant authorities. Groupe NJS thus becomes the sole shareholder of Yara Cameroun and unveils its new identity, HYDROCHEM Cameroun, the name under which the company will henceforth operate. The acquisition by NJS reflects the group's...

The African Development Bank has revised its short to medium-term macroeconomic forecast for Africa, for 2023 and 2024 downwards to 3.4% and 3.8%, from 4.0% and 4.3%. The slightly lower figures reflect the persistent long-term effects of COVID-19, geopolitical tensions and conflicts, climate shocks, a global economic slowdown, and limited fiscal space for African governments to adequately...

The Board of Directors of the African Development Bank Group on Wednesday approved a €101.10 million loan to Kenya to implement the third phase of the Last Mile Connectivity Project. The project will improve electricity access for households, social infrastructure and micro, small and medium enterprises. The project will also benefit from a $13.17 million...

The African Development Bank will mobilize financing for climate action at this year’s UN Climate Change Conference, COP28, and amplify Africa’s calls for robust commitments by wealthy countries to meet the continent’s urgent needs in addressing climate change. The Bank Group, led by its President, Dr Akinwumi Adesina, will launch and cement several climate action initiatives during the...

Terrorist threats have intensified in the tri-border areas between Mali, Niger, and Burkina Faso in recent weeks. Over the past week, armed groups carried out attacks in Burkina Faso's Center-East and Center-North regions. In response to a terrorist attack on the city of Djibo, Burkina Faso, the army reportedly killed more than 400 terrorists, as announced by the Burkinabe presidency in a...

The market for Buy Now, Pay Later (BNPL) in Africa & the Middle East is set to nearly triple by 2028, reaching $28.6 billion, up from $9.9 billion in 2022, according to a report by market research firm ResearchAndMarkets. The latter forecasts an average annual increase of 17.8% in the adoption of this payment method over 2023-2028, driven by the rising penetration of e-commerce in the...