The Plan for Algerian banks to set up operations in sub-Saharan African countries is on.  After approval to operate in Senegal, Algeria's main public banks have been given the go-ahead to launch a subsidiary in Mauritania. Banque Nationale d'Algérie (BNA), Crédit Populaire d'Algérie (CPA), Banque Extérieure d'Algérie (BEA) and Banque de l'Agriculture et du Développement Rural (BADR)...

ICTs are at the heart of the Kenyan government's socio-economic development strategy. For the 2022/2023 fiscal year, the executive budgeted $112 million for the ICT sector.  The Kenyan government will dedicate Ksh15.1 billion ($108.4 million) to fund projects in the information and communication technology (ICT) sector in the 2023/2024 fiscal year. This was revealed by Finance Minister...

According to Forbes, Aliko Dangote has lost his position as the richest individual in Africa. However, data from Bloomberg presents a different view and even indicates that the Nigerian is the most solvent, with his fortune potentially increasing by several billion dollars thanks to his refinery. In its updated ranking of African billionaires, Forbes claims that South Africa's Johann Rupert...

The financial backing aims to enable the microfinance institution to support more SMEs in a context marked by economic challenges in Egypt.  Reefy Microfinance Enterprise Services, the microfinance subsidiary of CI Capital, recently signed an EGP200 million ($6.5 million) loan agreement with the European Bank for Development and Reconstruction (EBRD), according to local media outlets. The...

The agreement comes after a deal with the UK and talks with the USA. The EU, the other signing party, is Kenya’s main export market. In 2022, trade between the two parties reached $3.6 billion.  Kenya and the European Union (EU) recently signed a free trade agreement to boost their exchanges. The ceremony took place in Nairobi, earlier today, June 19, in the presence of Kenyan...

As Africa's leading telecom market, Nigeria is concerned about protecting its citizens' data in an increasingly digitized world. The country recently asked the Netherlands for support in realizing its ambitions in this area. Bola Ahmed Tinubu (photo), President of the Federal Republic of Nigeria, has just validated the Nigeria Data Protection Act, 2023. The text guarantees a formal legal...

MTN Cameroon's bank accounts were frozen by Cameroonian courts in September 2022. The telecom operator strongly contests this measure, which it considers abusive, fraudulent, and unacceptable. MTN Cameroon, a subsidiary of the South African multinational MTN Group, believes that its activities are threatened by the seizure of its bank accounts, in the framework of the "Bestinver affair". In a...

The Senegalese B2B marketplace, operating since 2021, wants to use the funds to finance its growth projects.  Maad, a Senegalese marketplace that connects small merchants with FMCG brands, secured €200,000 ($219,000) in financing from Proparco on Friday, June 16. The resource will help the young company, founded in 2021, to anchor its activity in Senegal, its main operating market...

In the South African health system, there is an access problem and a huge disparity between the quality of care provided in the public and the private sectors. As a result, the government wants to introduce a national health insurance fund to establish equity. South Africa's National Assembly has passed the National Health Insurance (NHI) Bill, the parliament announced on Monday, June...

Life is now seemingly back to normal in the streets of Dakar, with thousands of vehicles transporting their passengers to various locations and occupations. Behind that normalized activity, there are concerns, however. Meanwhile, President Macky Sall has chosen a strategic moment to speak out.  After the historically violent protests of early June, life has returned to normal in Dakar,...