Africa Specialty Risks (“ASR”), the pan-African focused reinsurance group, is pleased to announce that it has launched a new Captive Solutions offering. In conjunction, the team will be attending the Organisation of Eastern and Southern African Insurers (OESAI) Annual Conference and AGM from 27 – 31 August in Mauritius. To date, ASR has written business in Mauritius amounting to...

The report points out that persistent global macroeconomic uncertainties have prompted most private equity funds active on the continent to exercise caution, opting for smaller ticket sizes.    Local and international private equity firms injected $2.2 billion into African companies in the first half of 2023, according to a report published on August 7 by the African Private...

Mauritania is served by a single international subsea cable since 2011. Frequent malfunctions on this infrastructure are disrupting phone and internet services in the country.  The government of the Islamic Republic of Mauritania is looking for an international partner to connect the country to a second fiber optic submarine cable. To this end, the Ministry of Digital Transformation,...

The loan and equity financing will fund the construction of a pyrethrum processing plant in Kenya. Through this initiative, the American and Finnish investors are strengthening their commitment to Kenya's agricultural sector. Finnish impact investor Finnfund and US development finance agency DFC have jointly committed $15 million to US-Kenyan company Kentegra Biotechnology, which...

Mauritania has 6.5 million active telecom users, according to the latest official data. The country wants to identify these users, in a bid to bolster national security amid a rapidly accelerating digital transformation. In Mauritania, mobile service users have until October 6, 2023, to get their SIM registered. The deadline was recently announced by the Autorité de Régulation Multisectorielle...

Present in 14 markets, Airtel is one of Africa's leading telecoms companies. The company has already rolled out commercial broadband in Nigeria, Kenya, and Zambia. Airtel Tanzania deployed 5G last week. For now, the technology is only available in some locations and can be accessed with compatible smartphones or a dedicated router. About 10 months before its Tanzanian subsidiary deployed...

The communiqué of the PSC-AU comes at a time when the junta that seized power in Niger announces a three-year transition. This transition has been rejected by ECOWAS.    On August 22, the Peace and Security Council of the African Union (PSC-AU) published a communique informing of the conclusions of its closed-door meetings to discuss the situation in Niger. The pan-African...

The Guinean government recently disclosed its projected budget for the next three years, which focuses on investment spending. The forecast, according to authorities, translates their commitment to financing infrastructure and bolstering the country's economy. Over the next three years, the Guinean government plans to allocate 58,986.39 billion Guinean francs ($6.8 billion) to investment...

Last month, Wagner’s leader, Evgueni Prigojine, had called on his men to regroup for the army. This was after a short rebellion against Vladimir Putin. Now, the mercenary says he is in Africa where he and his men are working to make Russia “greater”. In a 41-second clip shared on Telegram, Evgueni Prigojine, the leader of the Russian paramilitary group Wagner, revealed his current...

Three months after announcing plans to sell its entire stake in the United Bank, the Central Bank of Egypt is being approached by potential buyers expressing interest in this participative bank. The due diligence process is announced for the end of September 2023. International financial institutions have expressed interest in acquiring the Egyptian Islamic bank United Bank, the central bank of...