Airtel is stepping up its investments to gain a foothold in the Nigerian telecoms market, which is contested by MTN, Globacom, and 9mobile. The company claims to have invested around $10 billion in its Nigerian operations over the past ten years. Telecom company Airtel Nigeria, a subsidiary of Airtel Africa, plans to invest $700 million annually over the next three to four years to...

The survey reveals that business leaders operating in Sub-Saharan Africa see tech adoption as a priority but do not consider cybersecurity risks to be a major threat compared to other risks like macroeconomic volatility and inflation. In the finance sector, 87% of executives operating in sub-Saharan Africa believe that technology is strongly disrupting their companies' business models, according...

The West African Economic and Monetary Union's (UEMOA) public securities market experienced a particularly intense activity last week. Four bond issues were organized to raise CFAF156.92 billion.  Last week, WAEMU countries raised CFAF163.53 billion on the public securities market, far higher than the CFAF156.92 billion they were seeking. Niger stood out, raising CFAF37.62 billion via a...

The Board of Directors of the African Development Bank has approved a $23.04 million loan to Prime Meridian Docks AssetCo Ltd (PMD), a special purpose entity to co-finance the construction of a modern floating dock ship repair facility in Ghana’s western Takoradi port. The loan will support the company to design, build, operate and maintain a world-class ship repair and maintenance...

In Côte d'Ivoire, the private sector contributes 80% of government revenue. In that context, the government has launched a number of initiatives to boost investment in the sector to 25% of  GDP and create over 90% of projected jobs by 2030. Côte d’Ivoire announced, Monday (June 19), the launch of a CFAF38 billion ($63 million) long-term investment facility (FILT) program to promote the...

Over the past five years, the privatization of state telecom operators was considered several times. MTC began its listing process in 2019.   The Communications Regulatory Authority of Namibia (CRAN) recommends the sale of state-owned companies operating in the information and communications technology sector to private investors to increase competition in the national market. The...

Despite geopolitical tensions and a deteriorating macroeconomic situation worldwide, Egypt remained one of the most attractive destinations for investors in Africa over the past year. The country accounted for 57% of the value of transactions carried out in North Africa. Private equity funds injected a record $877 million into Egyptian companies in 2022, despite an extremely difficult...

The agreement is renewed for four years, offering comprehensive insurance services in the Egyptian market that offers strong growth potential for foreign investors.   Insurer Allianz Egypt recently renewed its bancassurance agreement with the local subsidiary of Crédit Agricole, a French banking group, for a further four years. With this extension, the two partners aim to offer a...

The Egyptian economy has been hard hit by global inflationary pressures. To bring in liquidity and stimulate growth, the government decided to sell some of its public companies’ shares. It has chosen the IFC as its strategic advisor in that bid.  The International Finance Corporation (IFC) has been appointed as a strategic advisor to Egypt as part of the government's asset monetization...

The African Development Bank’s Urban and Municipal Development Fund is partnering with the Eswatini Water and Agriculture Development Enterprise on a new urban planning project, closely linked with the development of a transformative agro-industrial hub which will boost  economic activities and to attract tens of thousands of workers. The Fund approved a grant of $400,000 to the...