In September, the Tunisian government signed an agreement with its general labor union (UGTT) to end the social crisis prevailing in the country.  The agreement paved the way for the conclusion of an IMF reform program.  Tunisia has secured a staff-level agreement for a new US$1.9 billion economic program, the IMF announced last Saturday.  The agreement, which covers an expanded...

Rising interest rates have boosted the profitability of Tunisian banks. However, risks related to the sector's high exposure to the country's sovereign rating and modest levels of equity capital are looming.  Tunisian banks' profitability rebounded to near pre-pandemic levels in the first half of 2022 Fitch Ratings indicated in a note published last Wednesday. However, risks related to...

The partnership will enable MTN Nigeria to accelerate digital inclusion and smartphone penetration in the country. According to data from the Nigeria Communications Commission (NCC), the country had 209.9 million mobile subscribers in August 2022. Telecom operator MTN Nigeria announced, Wednesday,  an agreement with smartphone financing platform Intelligra to allow individuals to purchase...

The Board of Directors of the African Development Bank (AfDB) has approved a grant of a grant of $2.5 million to the Mozambican government to develop renewable energy resources. The grant, from the Sustainable Energy Fund for Africa (SEFA), administered by the Bank, will be used to implement the Mozambique Renewable Energy Integration Program (MREP). "With the support of the Sustainable...

The Board of Directors of the African Development Bank Group on Wednesday, 12 October approved an unfunded $75 million trade finance Risk Participation Agreement facility for FirstRand Bank Limited (FRB). The approved facility will enhance FRB’s ability to underwrite trade finance transactions originating from issuing banks in several countries, including transition states and low-income...

With its proposed plan, Stellantis aims to move quickly towards “highest internal integration.”    The automotive group Stellantis announced, today (October 13), an agreement with the Algerian government for the installation of a Fiat-branded cars production plant in the country. The agreement was signed, in Algiers, during a ceremony chaired by Ahmed Zaghdar, Algerian...

Operators fear that the telecom sector will end up in the same situation as the Nigerian aviation sector, which is currently experiencing a crisis exacerbated by the country's foreign exchange problems.  Access to foreign currencies is difficult for Nigerian telecom operators since January 2022. . This situation, which is slowing down investment in network infrastructure, was decried by...

Côte d’Ivoire wants to take actions to boost economic resilience and households’ purchasing power in 2023 amid rising inflation that is undermining some economic sectors. To this end, the authorities are counting on an increase in spending but also on tightened budget deficit.   Côte d’Ivoire announced a XOF11,494 billion (US$16.9 billion) budget for the 2023 fiscal year. The...

Since the beginning of the Russia-Ukraine war, Africa has been portrayed mainly as a collateral victim of the ongoing conflict. However, recent tours by the involved parties’ senior officials suggest the continent has an important role to play. On October 3, Ukrainian Foreign Minister, Dmytro Kuleba, landed in Senegal for an African tour that was to take him to several countries. Although the...

The partnership is announced in a context marked by low bank loans to the agriculture sector and a Bitcoin craze. It will enable the involved parties to expand their businesses while contributing to the creation of added value in Côte d’Ivoire.  Yellow Card Financial and AgriSmartChain announced, today, a partnership to facilitate agriculture financing in Côte d’Ivoire leveraging...