Heads of public development banks on Wednesday underlined the critical need to build resilience for fragile countries and to boost African countries’ capacity to tackle global emissions in a sustainable manner. Stressing the need to forge even stronger cooperation, they said the third Finance in Common Summit, held for the first time in Africa, would be proof of commitment to reducing poverty...

The move comes after the French group sold its subsidiaries in Burkina Faso, Mali, Guinea, Senegal, Tunisia, and Côte d’Ivoire.   French banking group BNP Paribas has commissioned Barclays as an advisor for the sale of its South African subsidiary specializing in consumer credit and financial services, Bloomberg reported last Tuesday citing sources “familiar with the...

Angola Cables operates a robust subsea cable infrastructure and a highly interconnected IP network through its SACS, Monet, and WACS subsea cable systems directly linking the Americas, Africa, and Europe. The company has also partnered to expand its footprint into Asia. Fiber optic infrastructure operator Angola Cables has commissioned optical network solutions provider Infinera to upgrade its...

The measure aims to preserve the population’s purchasing power in a context marked by inflation and the consequences of the war in Ukraine.  Last Saturday, DRC Prime Minister Jean Michel Sama Lukonde (photo) signed two decrees suspending VATs on some essential goods, cement, and some products used in the real estate sector for one year.  The suspension is part of the country’s...

Between 12 and 14 October 2022, Côte d'Ivoire Terminal, holder of the concession for the new container terminal at the Port of Abidjan, successfully completed its first test port call by hosting the container vessel MSC Floriana.  The 50-hour exercise allowed for evaluation of the unloading and loading operations on the ship using the STS gantries, and of the handling of the containers at...

Climate finance committed by major multilateral development banks (MDBs) rose in 2021 with over $19 billion committed to climate change adaptation finance, according to the Joint Report on Multilateral Development Banks’ Climate Finance, published on Friday. The report tracks the progress of MDBs in relation to their climate finance targets such as those announced at COP21 and the greater...

Currently, most countries are accelerating their digital transformation. To ensure the efficiency of their various actions, some are exploring cooperation with regional and international partners.  Saudi Ministry of Communications and Information Technology and the South African Ministry of Communications and Digital Technology signed a memorandum of understanding on Saturday, October 15,...

In June 2022, Chad declared a food emergency due to the continued deterioration of the nutritional situation in the country. According to the World Bank, nearly one million Chadians are food insecure. Chad will receive US$105 million in financial support from the World Bank for social programs. The support was announced by Chadian authorities in a release issued on Monday, October 17.  The...

The subsidiary is announced six weeks after the public bank indicated it was establishing a presence in Senegal. The Mauritanian subsidiary aims to support Algerian economic operators in their efforts to conquer African markets.   The National Bank of Algeria (BNA) will soon establish a subsidiary in Mauritania to support Algerian economic operators wishing to access this market. The...

As digital transformation progresses, robust and resilient cybersecurity is becoming a non-negotiable prerequisite to ensure market integrity. In Africa, however, this remains a significant challenge, with many organizations still unprepared for cyberattacks. Today, October 17, the deadline imposed by hacker group Karakut before publishing the 102 gigabytes of strategic data it stole from the...