The health sector remains a major development challenge for Senegal. According to the government, the Universal Health Coverage (UHC) program launched in 2015 has increased health insurance coverage from 20% to 75% between 2015 and 2023. Senegal’s parliament approved a health budget of CFA271.62 billion (over $452 million) for FY2024. Official information relayed by the Senegalese Press...

A study by the German organization MISEREOR found that Africa stands out as the continent most targeted by large-scale land acquisitions. As land issues play a crucial role in the continent's development, they take center stage at the CLPA 2023. The fifth edition of the Conference on Land Policies in Africa (CLPA) commenced on Tuesday, November 21, 2023, at the headquarters of the African Union...

The Board of Directors of the African Development Bank Group has approved a $10 million equity investment in Dhamana Guarantee Company Limited to support the use of capital markets as an alternative source of long-term funding for infrastructure and the real sector in East Africa. Dhamana will be domiciled in Kenya as a limited liability company with a regional mandate to provide credit...

The ECOWAS Bank for Investment and Development (EBID) has signed an agreement with WEMA Bank Plc, Nigeria providing a USD50 Million line of credit to support Small and Medium Enterprises (SMEs) in the agro-business sector in the Federal Republic of Nigeria. The signing ceremony took place on November 20th , 2023, at the Bank’s Headquarters in Lomé, Togolese Republic. In his address, Dr George...

Cameroon has postponed its $333.2 million international bond issuance until 2024, as revealed by Fitch Ratings in its latest creditworthiness analysis. This decision aligns with a proactive debt management strategy, responding to negative assessments by rating agencies and the commitments made by the International Monetary Fund (IMF). Fitch Ratings' recent analysis on Cameroon's solvency...

As of September 30, Burkina Faso grapples with an estimated budget deficit nearing $900 million, as revealed in an official statement following the Council of Ministers' meeting published on Wednesday, November 15. During the specified period, the country mobilized $3.5 billion in budgetary revenue, falling short of the $4.5 billion projected in the revised budget. Meanwhile, both...

The World Bank suggests that Kenya could partly cushion the climate-induced shock through a higher annual growth rate and structural transformation of the economy. Kenya could experience a substantial economic setback, potentially losing up to 7.25% of its GDP by 2050 if decisive measures are not taken to adapt to and mitigate the adverse effects of climate change. The findings were detailed in...

In the midst of a global venture capital market slowdown, plummeting valuations, persistent inflation, and escalating operational costs, African startups are entering survival mode, implementing drastic workforce reductions. African startups laid off 738 employees in the third quarter of 2023 as they strive to extend their lifespans in a climate marked by drying up funding sources and soaring...

The third General Assembly of the African Public Procurement Network (APPN), which wrapped up in Abidjan on Thursday, adopted around ten recommendations for an effective contribution to sustainable development in Africa. This followed an earlier decision by participants from around 40 African countries to host the 2024 APPN General Assembly in Rwanda. Among the resolutions adopted were the...

Mobile operator Africell Angola has announced ambitious plans to double its communication towers and extend its services to four additional provinces in the country by 2024. This plan was made public by Jorge Vasquez, the newly appointed CEO of the company, during a media briefing on Wednesday, November 15. The expansion initiative aligns with Africell's gradual network extension strategy in...