The increase in country quotas is intended to enable the Fund to mobilize more financing for countries facing a debt crisis, and to better finance the fight against global warming. In a press release issued on Tuesday November 7, the International Monetary Fund (IMF) announced that its Executive Board had approved a proposal to increase country quotas by 50% at its next review, scheduled for...

Khalil Al Americani, CEO of Vodacom DRC, announced the company is currently conducting 5G tests in the country. In a recent interview with ITWeb Africa, the manager said the trial is being carried out under the supervision of the DRC telecom regulatory authority, ARPTC. These tests aim to ensure the telecom operator's readiness for deploying ultra-high-speed internet in the DRC. Khalil Al...

Energy startups raised the most funds last month in Africa, pushing fintechs into second place. The continent, it is worth noting, remains the region most affected by energy poverty worldwide.  Throughout the past month, Startups active in Africa raised $144.3 million, up by 23.6% against the previous month. The figures were revealed by TechCabal Insights, a consultancy firm...

According to the institution, Tunisia's GDP growth should stand at 1.2% in 2023, due in particular to persistent drought, external financing challenges, and the growing debt of several public enterprises. Tunisia's economy is set to grow by an average of 3% a year between 2024 and 2026, according to a World Bank report published on November 6, 2023. The Bank’s forecast is, however, "subject...

Renewable energies have created 320,000 jobs in Africa, which accounts for 2.34% of the total employment in the sector on a global scale, according to a report published on September 28 by the International Renewable Energy Agency (Irena) in collaboration with the International Labor Organization (ILO). The report emphasizes that the continent can rely on its abundant mineral reserves essential...

PIEX Group, a leading distributor of healthcare and wellness products in Africa, announces that it has signed the acquisition of Apexfarma group, a company that specializes in the development and promotion of pharmaceutical products across both Africa and Northern Asia. This acquisition will enable PIEX Group to continue in its dynamic path of expansion on the African continent, offering its...

Border frequency management is still a problem in Africa. In early 2022, the issue was at the heart of a tripartite meeting between Mauritania, Senegal, and Mali. Over the next three years, Senegal and Mauritania will, together, coordinate and share telecoms frequencies, and manage interference and involuntary roaming at their borders. The telecom regulators of both countries signed a...

The Democratic Republic of Congo is Africa's second-largest cassava producer, after Nigeria. The tuber is the country’s most-consumed staple and an essential agricultural product for value creation in rural areas. The minister of agriculture of DRC, Désire Nzinga Birihanze, kicked off the "Cassava Value Chain Development Project" in Kinshasa on November 2. With a total cost of $6.5...

Emphasizing that the sector's growth pace could be accelerated, the report highlights the necessity for African governments to implement reforms, especially in areas such as enhancing air transport infrastructure, streamlining visa issuance, and robust marketing strategies. The travel and tourism industry has the capacity to contribute an estimated $168 billion to Africa's GDP while...

The Cameroonian Institute of Statistics has published the third report on employment and the informal sector (EESI3). The document indicates that a local informal sector worker earns an average of CFA83,409 per month. Incomes range from CFA59,520 in rural areas to CFA96,367 in urban areas. An hour of work in the informal sector pays an average of CFA669, and the average monthly income of...