Fintech platform Wave, which was launched in Senegal in 2018, is very popular in the country. The startup wanted to add the sales of Sonatel airtime to its services but, up to now, negotiations between the two parties have been unconclusive. The Senegalese Telecommunications and Posts Regulatory Authority (ARTP) announced, Sunday (November 13), an agreement ending the commercial dispute between...

The committed investment percentage is higher than the 10% the WADB dedicated to climate financing over 2015-2019.   The West African Development Bank (WADB) plans to invest XOF825 billion (US$1.3 billion), representing at least 25% of its portfolio in climate projects over 2021-2025. The commitment was announced by WADB president Serge Ekue on the sidelines of COP27 held in Sharm el-Sheikh...

The Board of Directors of the African Development Fund, the concessional lending arm of the African Development Bank Group, on 2 November 2022 in Abidjan, approved a $6.63 million grant to the Common Market for Eastern and Southern Africa (COMESA) to develop the pharmaceutical sector in the sub-region. The project, which will be implemented over three years (2023-2025), is institutional...

The African Union, the African Development Bank Group and Africa50—in partnership with several global partners—have launched the Alliance for Green Infrastructure in Africa (AGIA), an initiative to help scale and accelerate financing for green infrastructure projects in Africa. The collaborating global partners working with the African Union, African Development Bank and Africa50 are the...

Agricorp SAM joins over 650 companies and stakeholders on the African continent that are currently signatories of the United Nations Global Compact. This action further iterates the group’s commitment to minimise its environmental footprint and create a positive socio-economic impact on the communities the company serves while continuously promoting human rights, workers’ rights, and the...

The African Development Bank's Director General for Central Africa, Serge N'Guessan, led a delegation for a series of talks with stakeholders in the Cameroonian private sector, including women entrepreneurs, between 24 and 30 September 2022 in Douala.  Professional associations and the financial institutions that partner with them under the Bank's Affirmative Finance Action for Women in...

In South Sudan, more than 70% of the population does not use cell phone services. MTN wants to leverage space technology to bring telecom services to every community in the country, including rural areas.  MTN Group will leverage the capabilities of satellite operator Intelsat to better extend its network and service coverage throughout South Sudan, including remote rural areas. The two...

Most business angels operating in Africa opt for conservative investment strategies, typically investing less than US$10,000 per deal in established startups. More than 50 percent of the business angels active in Africa mostly invest in high-growth, revenue-generating startups, according to a report published by research firm Briter Bridges in collaboration with the African Business Angel...

Twenty African youth-led enterprises have won grant funding of up to $100,000 each in this year’s African Youth Adaptation Solutions Challenge (YouthADAPT) competition. In addition to the grant, each winner benefits from a 12-month accelerator program to help them grow their businesses, deepen their impact and create decent jobs. The annual competition and awards program for youth-led...

The African Development Bank and the Eastern and Southern African Trade and Development Bank (TDB) have united to launch a unique financial instrument to catalyze financing for sustainable development on the continent. At the ongoing global climate summit, COP27, the African Development Bank on Wednesday announced an investment commitment of $ 15 million in TDB’s Class C Green+...