A report from the United Kingdom’s Department for International Trade (DIT) highlights the potential of mobile and digital services to grow African economies and deliver an improved quality of life across the continent. In the ‘The rise of Africa’s digital economy tackling the ‘usage gap’ to create a thriving market for mobile services’ report, which has been launched at MWC Africa...

Germany has committed €40 million to the African Development Bank Group's Climate Action Window, German State Secretary for Economic Cooperation and Development Jochen Flasbarth has announced.  The contribution is to support climate adaptation in fragile African states. Flasbarth made the announcement during a ministerial panel for climate-vulnerable countries and champions of...

The Board of Directors of the African Development Bank Group today approved an equity investment of $20 million in Evolution Fund III, a pan-African clean and sustainable energy private equity fund that is mobilising about $400 million into renewable energy and resource-efficiency assets across sub-Saharan Africa over a 10-year period. Inspired Evolution Investment Management is a...

The 7.5% forecast is lower than the initial (9.2%).  Ethiopia expects its economy to grow to 7.5% in 2022-2023, Prime Minister Abiy Ahmed announced before the parliament yesterday. The projection is down from the 9.2 percent initially forecasted for the fiscal year ending in 2023. It comes against the backdrop of macroeconomic challenges that have plagued the East African country's economy,...

With two months to go before the end of 2022, the volume of financing raised by African fintech startups is down by more than 15% compared to 2021. The dynamic may point to a shift in investors’ perception.   As we move towards the end of 2022, data and analysis published by Africa the Big Deal suggest that fintech startups accounted for 32% of the venture capital financing secured...

The decision is announced in a context where Côte d’Ivoire and Mali are, since July 2022, unable to reach an agreement for the release of 46 Ivorian soldiers arrested by Mali, which accuses them of being mercenaries. Côte d'Ivoire will gradually withdraw its contingents from the United Nations Multidimensional Integrated Stabilization Mission in Mali (Minusma). The information was confirmed...

The Malawian telecom regulator awarded Malcel its third telecom license last August. Since then, the company has been busy rolling out its network and launching its operations. Before Malcel, previous attempts to introduce a third operator into the market had failed. Malcel Plc, which holds Malawi's third mobile operator license, plans to roll out 5G in cities and 4G LTE in peri-urban areas,...

Over the past few years, South African bank FNB has seized and auctioned some of the Cameroonian business mogul Baba Danpullo’s properties in South Africa.  According to FNB, the properties are auctioned to settle the debts the business mogul is unable to pay since 2019. Meanwhile, Baba Danpullo rejects the claims qualifying the decisions as spoliation and a racially motivated crusade...

NEoT Offgrid Africa, GDS International, and ARESS have agreed to join forces to enter the very promising rural electrification sector in Benin by creating a joint company, Les Soleils du Bénin. The partnership begins with a first flagship project aiming to electrify 12 localities in Benin within a year. This project is operated within the framework of the call for project proposals launched by...

The billionaire, who heads the Mansour Group,reduced his stake in the Meta and sold all his Twitter shares to invest in green projects. The Egyptian billionaire Mohamed Mansour announced ,Saturday,  he reduced his stakes in Twitter and Meta to engage in the production of electric vehicles in Egypt. Mansour, whose fortune is valued at US$6.8 billion, told Bloomberg on the sidelines of the...