IFC is partnered with healthcare developer Egyptians for Health Care Services to meet the growing demand for healthcare services in Egypt. The initiative follows a health consulting program launched in 2021. The International Finance Corporation (IFC) will support the construction and operations of a healthcare city (CapitalMed) on the outskirts of Cairo, Egypt. In the release disclosing the...

The price of wheat is rising exponentially due to the global environment marked by the coronavirus pandemic and the war in Ukraine. The situation greatly affects Egyptians since wheat is one of the main foodstuffs in the country.  The World Bank will provide a US$500 million loan to strengthen food security and nutrition in Egypt. The financial support was approved yesterday and revealed in...

The investment is a pre-series A funding aimed at reinforcing Moringa’s training programs and supporting its expansion outside Kenya, its main market.  Proparco recently announced a pre-series A investment of an undisclosed amount in Kenya's software engineering, data science, and soft skills training platform, Moringa. The funding will support the startup's expansion outside Kenya and...

In its recent report on the Zimbabwean telecom market, BuddeComm indicated that the country’s weak economy has impacted sectoral performance in 2021. That sluggish trend is not yet over.  In Zimbabwe, the current economic crisis is weighing on the telecom market. In a recent statement, state-owned operator TelOne revealed it was struggling to keep its head above water in the economic...

Over the past four years, the Horn of Africa has been confronted with severe drought, with disastrous consequences on food security. According to the United Nations, at least 16.7 million people are food insecure in the region.   The Food and Agriculture Organization of the United Nations (FAO) needs 172 million dollars to help the Horn of Africa address the fast-approaching...

In Senegal, economic recovery is still threatened by risks such as inflation, regional insecurity, Covid-19, and climate change.  To avert some of those risks, authorities, and development partners are implementing various programs.   The West African Development Bank (BOAD) will finance two projects, to the tune of US$64.5 million, in Senegal. According to a BOAD press...

In Africa, the demand for data centers is growing, along with rising demand for broadband connectivity and cloud services. To meet those demands, local and foreign companies are stepping up investments. Last week, Ghanaian vice president Mahamudu Bawumia (photo, right) inaugurated a Tier 4 data center at Amrahia, in the Greater Accra region. The 20 megawatts infrastructure costs US$48 million....

With the economic recovery on track, banks increased the volume of credit granted to economies in the WAEMU zone. The increased volume nevertheless hides the marginalization of actors, who are usually crucial supports for economic resilience in crisis times.  Over the 12-months-ending on March 31, 2022, the volume of credits granted by banks in the WAEMU region rose to XOF6,884.8 billion...

The Merck Africa Bureau aims to accelerate the business transformation of the company operations in Africa to ensure sustainable business and create long-term value.  Merck, a leading science, and technology company, announced today its further commitment to Africa, by strategically expanding its access and awareness programs and strengthening the health systems and patients in low-...

“Africa can no longer outsource its healthcare security to the benevolence of others” – Akinwumi Adesina The African Development Bank’s Board of Directors has approved the establishment of the African Pharmaceutical Technology Foundation, a new groundbreaking institution that will significantly enhance Africa’s access to the technologies that underpin the manufacture of medicines,...