The Tanzanian government wants 85% of its population to have access to broadband by 2025. Currently, the country has 34.04 million internet users and a population of 67.9 million people. Horus Power and Telecom Solutions, a telecoms company present in 14 African countries, and Bradda, a Tanzanian ISP, have signed a cooperation agreement to accelerate broadband adoption in Tanzania. The two...

Lawmakers in Burkina Faso adopted a bill empowering microfinance companies operating in the country to offer Islamic finance solutions to their customers. This new measure was taken on September 26 in amendment of law no. 023-2009/AN of May 14, 2009, which regulates decentralized financial systems. It outlines the modalities for microfinance institutions to engage in Islamic finance activities...

Digital payments have been growing significantly in Africa in recent years, but the segment remains fragmented and faces numerous challenges. Revio, a fintech that makes digital payments simpler and cheaper on the continent, just closed its second round of financing, after the first one in June 2022. Revio, an Africa-focused payment orchestration platform, recently raised $5.2 million in...

The U.S. announced it is suspending part of its assistance to Gabon, in response to the coup that took place in the country on August 30. An official statement signed by Secretary of State Antony Blinken indicates that the decision will last for the time it takes to “evaluate the unconstitutional intervention by members of the country’s military.” “We are (however) continuing U.S....

The number of smartphones shipped to Africa increased 7.6% from 18.1 million in Q2 2022 to 19.6 million in Q2 2023, according to the Worldwide Quarterly Mobile Phone Tracker recently issued by the International Data Corporation (IDC). South Africa, Nigeria, and Egypt were the top African destinations over the period with Chinese Transsion's brands (Tecno, Itel, and Infinix) remaining...

During the 63rd ECOWAS ordinary session in July, the Heads of State instructed relevant institutions to accelerate works on the Abidjan-Lagos corridor. The first roundtable of Financial Institutions for the construction of the Abidjan-Lagos Highway opened yesterday in Abidjan. The event, co-organized by the African Development Bank (AfDB) and the Economic Community of West African States...

Africa Finance Corporation (AFC) announced yesterday it has reached a $300 million financing deal with the Chinese Export-Import Bank (CEXIM). This 3-year agreement was signed on the sideline of the annual meetings of the Asian Infrastructure Investment Bank (AIIB) in Egypt, we learned. The facility will be used to boost trade finance and investments in Africa and promote economic growth...

The Movement for the Salvation of Azawad vigorously opposed the armed conflict in northern Mali and instead called for stronger anti-terrorism measures. In the two weeks leading up to the outbreak of the conflict, the Movement criticized the breach of the peace agreement and the military operations announced by CSP-PSD. Shortly before the hostilities began, it distanced itself from these...

The presidential election in Mali, initially scheduled for February 4 and 18, 2024, has been postponed. The transitional government explained this delay in a statement, citing technical reasons, including the "hostage-taking" of a database by the French company IDEMIA, to which the government refuses to pay CFA5 billion. Mali's presidential election will be postponed, according to an official...

The African Development Bank Group, on 25 September 2023, announces the 15-month debarment of Joycot General Contractors Ltd. effective 8 September 2023. Joycot General Contractors Ltd. is a construction company registered under the laws of Kenya. An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption found that Joycot General Contractors Ltd. engaged in fraudulent...