In August 2021, Anwar Soussa became Safaricom Ethiopia's first CEO. As such, he coordinated the launch of the company's commercial activities and the gradual roll-out of its telecoms network. The company registered 4 million subscribers in just a few months. On Tuesday, June 27, Safaricom Telecommunications Ethiopia PLC (STEP), the mobile phone company, announced a major change in its...

China is one of Africa's major technology partners. The Asian behemoth is also a pioneer of the latest-generation mobile technologies such as 5G and 6G. On Tuesday, June 27, Tunisia and China signed a memorandum of understanding to enhance their cooperation in the field of information and communication technologies (ICT). The agreement was reached during an official visit by Nizar Ben Neji,...

Aruwa Capital, the Lagos-based impact investment company, has joined the shareholding of snack producers, Fastizers. This is less than two weeks after the equity company acquired a stake in a Nigerian retail company. Aruwa now wants to help Fastizers expand in the country. Aruwa Capital Management announced on June 29 that it has invested $2 million in Fastizers Food, a Nigerian snack and...

The United States Agency for International Development (USAID), through the Power Africa Presidential Initiative, and the African Development Bank, have signed an extension and expansion of their existing Regional Development Objectives Agreement (RDOAG) on the margins of the Africa Energy Forum in Nairobi. The move deepens the strategic partnership and expands the basis for cooperation in...

The Board of Directors of the African Development Bank Group has endorsed the Bank’s 2023-2028 Country Strategy Paper for Mozambique on 13 June 2023. The new strategy aims to promote the country's structural transformation by improving fiscal stability, creating decent jobs and generating inclusive growth. The strategy has two priority areas: fostering improved economic governance and the...

ICEX Spain Trade and Investment and the African Development Bank have signed a cooperation agreement to consolidate engagement of Spain’s private sector for urban development in Africa. The agreement will more specifically foster cooperation between the Spanish business entity  and the  Urban and Municipal Development Fund (UMDF), a multi-donor trust fund hosted by the African...

To face the unprecedented new global challenges brought about by the COVID-19 pandemic, the spotlight has turned to the importance of the private sector in building resilience in transition states and in particular, the crucial role of supporting micro, small and medium-sized enterprises (MSMEs). Indeed, the latter have seen their already pre-existing fragility aggravated by the consequences of...

In the DRC, only 50.9% of the population has access to mobile services, according to official figures. Telecom operators need additional infrastructure capacity to bridge the digital divide. The International Finance Corporation (IFC) announced, Monday (June 26), it granted a $60 million loan to telecom tower operator Eastcastle Infrastructure to finance the network extension in the...

The Ugandan government aims to connect the entire population to the Internet as part of its digital transformation ambitions. According to the latest statistics from the telecoms regulator, Uganda has 25 million Internet users, representing a 60% penetration rate. The Ugandan government plans to provide high-speed Internet connectivity to refugee camps across the country. The plan was disclosed...

As market conditions are improving, WAEMU countries are getting more confident in their abilities to raise funds on the regional public securities market.  Between June 19 and June 23, WAEMU countries organized five bond issues to raise CFAF188 billion. In the end, they raised CFAF202.27 billion ($335.8 million).  In detail, Guinea-Bissau carried out a specific repurchase and new...