Electric motorbike manufacturer Spiro wants to expand its activities in French-speaking West Africa where it has been present for over a year. The company recently secured a loan from Société Générale to finance its expansion project. Spiro has signed a $63 million loan agreement with the Société Générale banking group, acting through its subsidiaries in Togo and Benin. The electric...

In addition to creating jobs and boosting economic activity, the agreement will unleash the full potential of small and medium-sized enterprises in extra- and intra-African trade. China Development Bank (CDB) will loan $400 million to small and medium-sized enterprises (SMEs) in Africa. The news was disclosed on August 28, 2023, by the African Export-Import Bank (Afreximbank). The...

The South African government is stepping up initiatives to accelerate broadband coverage as part of its digital transformation ambitions. The executive is currently negotiating with operator Telkom to provide broadband connectivity services to the population. Last week, the South African Department of Communications and Digital Technologies (DCDT) and Huawei South Africa launched a joint...

The group of military and police officers who announced on television that they had seized power in Gabon said on Wednesday morning that President Ali Bongo Ondimba had been placed under house arrest. "Ali Bongo Ondimba is under house arrest. He is surrounded by his family and his doctors," according to a statement read out mid-day on the state-owned channels Gabon 24 and Gabon 1ère by the...

Launched in 2020, the Project to Support and Enhance the Entrepreneurial Initiatives of Women and Young People (PAVIE) implemented in Senegal, is producing significant socioeconomic transformations that are benefiting young people and women. The project has been extended by a year to complete its implementation under optimal conditions, according to the African Development Bank’s implementation...

In Cameroon, the telecom regulator and consumers are pressuring operators to improve service quality and coverage. Orange has committed to investing CFAF150 billion ($247.5 million) in its operations over five years.   South African telecommunications giant MTN Group plans to invest around $225 million in its Cameroon operations over the next three years. This was revealed by...

Since late 2021, the upsurge in armed violence in the province of North Kivu has led to human rights violations, according to the United States. With these sanctions, Washington underlines its commitment to promoting a peaceful resolution to the escalating conflict. The United States of America has announced a series of sanctions against several actors in the conflict shaking the eastern region...

In Egypt, inflation reached 36.5% in July 2023. The EGX 30, the index of the “most highly capitalized and liquid stocks traded on the Egyptian Exchange,” gained 8.64% in 30 days. Faced with eroding economies, investors are looking for havens of stability. This trend, which is not limited to Egypt, can also be observed in Ghana and Nigeria. In Egypt, the price index, also known as inflation,...

Until now, China has focused its investments in Africa on major infrastructure projects.  Beijing now intends to change course as its industrial production overcapacity is getting wider.   Chinese President Xi Jinping (photo) announced, Thursday (August 24), his country plans to support industrialization and agriculture in Africa, after focusing for almost a decade on...

The Cameroonian government's ambition is to transform Cameroon into an emerging country by 2035. The executive intends to develop information and communication technologies to accelerate the achievement of its objectives. Cameroon inaugurated Wednesday (August 23), its Digital Transformation Acceleration Project (PATNuC), under the leadership of the Minister of Posts and Telecommunications,...