AMN aims to expand its portfolio of towers in Africa to 10,000 by 2025, up from approximately 2,000 currently. The company has recently started offering services in Latin America and plans to expand into Asia in 2024. Africa Mobile Networks (AMN) is partnering with Starlink, the satellite constellation of American company SpaceX, to bolster its telecom tower network in Africa, particularly in...

In September 2020, Indiana Resources initiated an arbitration process against the Tanzanian government for the "illegal" expropriation of the Ntaka Hill nickel project. Nearly three years later, the International Centre for Settlement of Investment Disputes (ICSID), a World Bank arbitration tribunal, has made its ruling. The ICSID has condemned the Tanzanian government to pay $76.7 million...

With the Abidjan Exhibition Park, the Ivorian government has found a new avenue to showcase itself to the international world. Valued at more than $128 million, it would be the largest exhibition center in French-speaking sub-Saharan Africa, according to local authorities. Côte d’Ivoire inaugurated the Abidjan Exhibition Park on Monday, July 17, in a ceremony presided over by Vice...

Sahel Capital, an investment firm focusing on food and agriculture in sub-Saharan Africa, announced its first operation of the current year and the fourth since its establishment in 2021. The Sefaa fund, managed by Sahel Capital, provided a loan facility to Tanzanian agri-food company, Rogathe Dairy Farm Products. On July 15, Sahel Capital revealed that it granted Rogathe Dairy Farm Products a...

The African Development Bank Group has appointed Ousmane Fall, a Senegalese national, as Director of Non-Sovereign Operations and Private Sector, effective from the 1st of August 2023. Fall takes on this new role with 17 years of experience. He spent the last four years at the International Finance Corporation (IFC), where he provided strategic leadership on country planning and ministerial...

The GIMpay digital platform aims to support a unique digital ecosystem to foster financial innovation in the UEMOA zone. GIM-UEMOA, the international organization in charge of the interbank electronic payment system for the West African Economic and Monetary Union (UEMOA) zone, has joined forces with Backbase, the pioneer of engagement banking, to develop the Super App, GIMpay. The GIMpay...

After months of review, the European Investment Bank (EIB) has approved the financing project for Acre Impact Capital’s first fund. The European financial institution is committed to supporting vital infrastructure projects on the continent through this initiative. On July 17, Acre Impact Capital, a climate-focused infrastructure project financier in emerging markets, announced it...

The rapid digital transformation in Africa has prompted companies to seek greater computing capabilities to support their operations. Consequently, there has been a significant increase in data center investments by major players such as Huawei, Google, Microsoft, Teraco, OADC, and Raxio. Last week, wholesale infrastructure provider West Indian Ocean Cable Company (WIOCC) signed a shareholder...

Togo Cellulaire and Moov Africa currently dominate the Togolese mobile telephony market. These two operators have faced repeated admonitions from the telecom regulator for failing to meet regulatory thresholds for service quality and coverage. In a positive development, Togo is set to implement mobile number portability by the end of 2023. Kadiri Ouro-Agoro, Legal and Consumer Protection...

Norfund announced its inaugural direct investments in the African plastic recycling sector. The Norwegian development finance institution is supporting Nigerian company Wecyclers with a convertible loan and Ghanaian company Miniplast with an equity investment. On July 13, Norfund unveiled two financing operations aimed at bolstering the plastic recycling industry in West Africa. Wecyclers...