The African Continental Free Trade Area (AfCFTA) could lower the vulnerability of Africa to external shocks through a dynamic intra-African trade. To get to that point, it is suggested that Africa improves its stability and boosts infrastructures as well as the digitalization of economies, especially customs services. How can the AfCFTA become both the growth and industrialization catalyzer for...

African Development Bank Vice President for Regional Development, Integration and Service Delivery Marie-Laure Akin-Olugbadé, has saluted the "courage, dedication and work" of Moroccan emergency teams deployed in the Al Haouz region following the devastating earthquake on 8 September. Akin-Olugbadé, who was in Morocco as a participant in the 2023 IMF/World Bank Annual Meetings, took time off...

The African Development Bank Group, on 13 October 2023 announces the conclusion of a negotiated settlement agreement with Unik Construction Engineering (Pty) Limited, thus putting an end to sanctions proceedings for a corrupt practice against Unik Construction Engineering (Pty) Limited. Pursuant to the negotiated settlement agreement, Unik Construction Engineering (Pty) Limited, registered in...

The financing supports EBID’s 2021-2025 strategy to assist small and medium enterprises in ECOWAS. EOWAS Bank for Investment and Development, EBID, and Vista Group Holding signed a €50 million loan agreement on October 12, in Marrakech. The deal was sealed on the sidelines of the ongoing annual assembly of the World Bank and IMF. The loan is to help SMEs in the ECOWAS develop their...

Last June, Burkina Faso's telecom regulator unveiled new terms for mobile telecom operators' offers, which were developed closely with consumer associations but rejected by the telecom companies. The Regulatory Authority for Electronic Communications and Postal Services of Burkina Faso (ARCEP) announced earlier this week the suspension of the new terms applicable to mobile telecom operators'...

Senegalese opposition figure Ousmane Sonko was sentenced to two years in prison for "corruption of youth” in July this year. He has since been trying to get the sentence lifted. He believes the sentence is a political maneuver to sideline him from the 2024 presidential race. Senegalese opposition leader Ousmane Sonko (pictured) has just won an important round in his legal battle with the...

After having provided technical assistance grants to the cold chain development company Ifria in 2021, the U.S. financial institution DFC has decided to finance the construction of Ifria refrigeration facilities in two African countries. Yesterday, the U.S. Development Finance Corporation (DFC) announced the signing of commitment letters worth a total of $20 million with Ifria Cold Chain...

The money will serve to rebuild infrastructures in the Al-Haouz province which was hit by a deadly earthquake on September 8. The European Investment Bank (EIB) will lend Morocco a billion euros ($1.06 billion) over the next three years. This is to help the country rebuild in areas that were hit last month by a deadly earthquake.  The announcement was made on October 11, by the EIB’s...

After its first-ever investment in Africa’s creative industry last month, the International Finance Corporation is exploring further investments in this sector, in conjunction with Sony Group Corporation. The International Finance Corporation (IFC) and Sony Group Corporation have signed a partnership agreement to explore investment opportunities in creative businesses in Africa. The two...

The pan-African group AXIAN announces the appointment of Erwan Gelebart as the CEO of its Open Innovation & Fintech division. In his new role, his mission will be to transform and develop AXIAN's fintechs to ensure a pioneering and innovative leadership position for the Group in the sector. With the support of his teams, Erwan will also lead the overall innovation strategy across the Group and...