On 31 October 2023, two staff members of the African Development Bank Group based in Addis Ababa were unlawfully arrested, physically assaulted, and detained for many hours by elements of the security forces without any official explanation. We are pleased that the Prime Minister of Ethiopia immediately acted when he learnt of the incident, ordered the immediate release of the...

On 15 November 2023, the President of the Republic of Ghana, H.E. Nana Akufo Addo, together with Philippe Labonne, AGL Chairman, officially launched phase 2 of the Tema port expansion project including the commissioning of 3 STS gantries and 12 e-RTG gantries. The phase 2 works, led by Meridian Port Services (MPS), whose reference shareholders are AGL, APM Terminals and the Ghana Ports Authority...

A year after the military takeover in Burkina Faso, violence shows no signs of abating despite the authorities' announced efforts to reclaim territory. Burkinabe authorities confirmed on the evening of Monday, November 13, the massacres in Zaongo, in the north-central region of the country. According to the Burkina Faso Public Prosecutor at the Kaya Regional Court, Simon B. Gnanou, who visited...

Only three years after joining the shareholding of Amanys Pharma, a Moroccan antibiotics manufacturer and hospital supplier, private equity firm SPE Capital and France's Proparco are exiting the company, selling their shares to Laprophan, a Moroccan pharmaceutical company. SPE Capital and Proparco are no longer shareholders in Amanys Pharma (formerly Saham Pharma).  The Africa-focused...

Djibouti turns to space technologies for climate data collection, among other things. The country plans to launch its second satellite in Q1 2024. It also intends to soon build a satellite and rocket.  Djibouti launched its first satellite last Saturday, Nov 1. The spacecraft, dubbed Djibouti 1A, was launched from the Vandenberg spaceport in California, USA. The satellite was built...

Gabon's military regime is preparing to hand over power to civilians. The transition period is due to end in August 2025 with the holding of elections. In Gabon, the current military administration is considering returning power to civilians within two years. On Monday, November 13, the Committee for Transition and Restoration of Institutions (CTRI) announced the holding of general elections in...

VC investments in Africa increased by 28% year-on-year in Q3 2023, contrasting with the global trend that recorded a 15% decline during the same period. Overall VC investments in Africa reached $895 million over the third quarter of 2023, up 28% compared with Q3 2022, a report published last November 9 by the African Private Equity and Venture Capital Association (AVCA)...

Africa is challenged with a huge infrastructure deficit estimated at $68 to $108 billion. While analysts have raised the issue as a major obstacle to the continent's economic development, efforts are multiplying to reduce this gap. The challenge of sustainable infrastructure development was extensively discussed this week during the AIF Market Days 2023 in Marrakech. Ahead of a panel...

Celtiis is trying to make its way in a national telecoms market dominated by MTN and Moov Africa. In its first three months of operation, the company recorded some 600,000 subscribers, representing a 4.12% market share. Mobile operator Celtiis, a subsidiary of the Benin Digital Infrastructure Company (SBIN), has registered 1.5 million subscribers after one year of operation in Benin. The...

Benin, Senegal, and Côte d'Ivoire have to repay $14.5 billion in Eurobonds by 2048, mostly in euros. Refinancing these bonds is difficult, given rising interest rates and the perception of high risk. Three West African countries, Benin, Senegal, and Côte d'Ivoire, are due to repay a combined $14.5 billion in Eurobonds between October 1, 2023, and March 22, 2048, according to data...