Mobile adoption is rising steadily in Africa, driven mainly by digital transformation. This makes the continent an important market for major phone manufacturers.  Jumia recently signed a partnership agreement with Chinese smartphone brand Realme to introduce cutting-edge devices in the Sub-Saharan African market. The move is aimed at accelerating smartphone adoption in the region....

Together with the private equity fund Ascent Rift Valley II, Proparco made a major investment in the Kenyan health sector. Its partner in the deal had already invested in the sector.  Development finance institution Porparco announced, today (July 12) the acquisition of a majority stake in Kenyan private healthcare facility Diani Beach Hospital.  The investment was jointly made with...

Despite their sizeable contribution to economic growth, in Burundi and Tanzania, SMEs lack adequate financing to thrive.  In the framework of its program “Base of the Pyramid,”  the IFC intends to improve the credit system to benefit SMEs. The International Finance Corporation (IFC) will disburse US$105 million to improve credit access for small and medium-sized enterprises (SMEs)...

Nigeria is one of the main telecom markets in Africa. The significant growth it recorded in recent years attracted significant foreign investments.    Canadian smart off-grid company Clear Blue Technologies International announced Thursday (July 7) its expansion into the Nigerian market. According to its release, the expansion is made “to better capitalize on this market and...

The amount to be disbursed to IDA-eligible African countries represents about 70% of the US$93 billion announced for the "IDA 20" program. It is the largest amount of aid the institution ever granted since its creation in 1960. World Bank’s International Development Association (IDA), dedicated to the poorest countries, will disburse US$65 billion to 39 eligible African countries over the...

The platform is launched two months after GlobalCorp was acquired by a consortium consisting of Amethis, SPE Capital, and the EBRD. It will serve as an “All-In’ platform for all the consumer financing needs” in the Egyptian market. Egypt-based non-banking financial institution GlobalCorp recently announced the launch of a platform that will finance essential consumer needs in the Egyptian...

 Africa Development Solutions (ADS) Group, a high-impact pan-African multinational with a presence in more than 20 countries, organized the reunion concert of the congolese famous group Wenge Musica 4x4. With this historic event, ADS Group was able to reaffirm its support for not only Congolese music but to use music and culture as a tool for integration.   ADS Group affirms the...

A Safaricom-led consortium won Ethiopia's second telecommunications license in May 2021. More than a year later, the company is yet to launch commercial operations, initially scheduled for April 2022.  Telecom operator Safaricom, which holds Ethiopia’s second telecom license, will launch commercial operations next August. The operator revealed the information during a press conference...

Flutterwave, one of Africa’s leading fintech startups is named in a money laundering case in Kenya, after an investigative report by a Nigerian journalist. Its management denies the accusations.   Nigerian startup Flutterwave has denied the money laundering accusations leveled against it by a Kenyan court. “Claims of financial improprieties involving the company in Kenya are...

Over the past few years, Côte d’Ivoire has implemented several projects to improve the living conditions of its residents living in poor areas. The projects are supported by international partners.    Côte d’Ivoire and the French Development Agency (AFD) recently signed two loan agreements totaling US$333.2 million to fund two connectivity and sanitation projects. The...