The Board of Directors of the African Development Bank Group has approved a $23.6 million loan for the construction and equipment of a new aviation training facility in the Rwandan capital, Kigali. The proposed Centre of Excellence for Aviation Skills (CEAS), including an aircraft hangar, will partner with higher learning institutions to produce a skilled workforce to meet global aviation...

The Africa Adaptation Acceleration Program, a joint initiative of the African Development Bank and the Global Center on Adaptation, has launched a call for applications for the third edition of the YouthADAPT Challenge, which seeks to support young entrepreneurs driving solutions to tackle climate change. The annual YouthADAPT competition invites young entrepreneurs leading micro, small, and...

Africa has the potential to become the main driver of economic growth in the world in the coming decades. Aware of this, the American think tank Atlantic Council issued a report on October 5 presenting the key steps to be taken to unleash this potential to its fullest. The Atlantic Council believes that the young African population, the abundant natural resources, and the continent's strategic...

The report highlights that some 680 million people living south of the Sahara do not use mobile Internet despite living in areas where mobile broadband networks are available. This is due in particular to the high cost of connectivity, lack of literacy and digital skills, the report says. The cost of 1 GB of mobile data in sub-Saharan Africa, after decreasing from 2017 to 2021, rose from 3.3% of...

United Metals Company (UMC), an Egyptian copper rod manufacturer and subsidiary of the El Sewedy Electric industrial group, has entered into a loan agreement with the European Bank for Reconstruction and Development (EBRD). The $50 million loan will be utilized to enhance UMC's working capital requirements and facilitate the acquisition of essential production inputs. This financing supports...

NuRAN is continuing its expansion strategy in Africa and aims to have 10,000 telecom sites under contract on the continent in the coming years. The Canadian telecom infrastructure provider NuRAN Wireless announced last October 17 that it has obtained a Category 1 license in Cameroon. This permit will enable the company to build and operate a shared passive infrastructure for the country's...

The bank’s listing will be done via an increase in share capital reserved for the public, up to a maximum of $58.4 million. Moroccan bank CFG Bank initiated its IPO on the Casablanca Stock Exchange. The lender announced the move on October 16. In a note to its shareholders, the bank informed that it would hold an Extraordinary General Meeting on November 16 to discuss and adopt a...

The Sahel is witnessing an upsurge in terrorist attacks in the tri-border area (Burkina-Mali-Niger). Under the weight of several sanctions imposed by international and regional organizations, Niger is calling for national solidarity to tackle this security crisis. The National Council for the Safeguard of the Homeland (CNSP), Niger's current military regime, announced on October 12 the creation...

Africa needs to rethink how it manages its natural resources to avoid adverse socio-economic consequences that could hamper sustainable development on the continent, experts said at a recent webinar organised by the African Development Bank. The call came ahead of the 2023 United Nations Conference on Climate Change scheduled for November 30 to December 12 in Dubai, United Arab Emirates. The...

The transitional government in Guinea, in partnership with the African Development Bank Group, has received a large consignment of agricultural supplies in Guinea’s western town of Forécariah for distribution to local farmers. The consignment, delivered on 13 October 2023, forms part of implementing the Emergency Food Production Project, spearheaded by the African Development Bank. Overall,...