A few years ago, Ghana launched the development of some key infrastructures in the framework of its industrialization program. With the support of its international partners, it just created its national development bank, which will help restructure key sectors.  Ghana recently launched its national development bank. According to an official release, the development bank was inaugurated...

Economic ties between Africa and the Caribbean took a strong upward turn this week as the regions’ premier financial institutions—the African Development Bank and the Caribbean Development Bank—came together to advance their collaboration with one another. On Tuesday, African Development Bank Group President Dr. Akinwumi Adesina delivered the prestigious 22nd William G. Demas Memorial...

The multi-currency green loan program will support 10 to 15 green micro, small and medium enterprises in Africa, South, and Southeast Asia. The British International Investment (BII), formerly known as CDC Group, announces subscription to a US$75 million Green basket bond arranged by Symbiotics, a platform dedicated to financing SMEs and low-income households in emerging and frontier markets....

In Africa, South Africa has the highest number of cumulated positive Covid-19 cases and deaths (estimate is about 4 million positive cases). Despite its seemingly high vaccination rate, the country is faced with a fifth wave, which forces it to call for foreign assistance.   The World Bank will provide US$480 million to help boost South Africa’s health system and bolster...

Backbase, the leading Engagement Banking platform provider, was awarded “Most Innovative Mobile Solutions” at the Africa Pay&ID Expo 2022. This award recognizes Backbase’s great work done on the continent these last years. In Africa, Backbase has seen barriers to digital banking fall but with traditional lenders still being left behind by extremely nimble and agile fintech competitors....

Since 2020, demand for broadband internet has been growing due to the accelerated digital transformation and shift in usage. The growing market is therefore attracting international investors. UK operator London Internet Exchange (LINX) announced, Monday (June 13), a strategic partnership with Nairobi-based data center company IXAfrica. Thanks to the partnership, LINX will establish an...

Ethiopia wants to modernize its agriculture and industrialize its rural areas. To this end, authorities have launched a project (with backing from several international partners) to develop agro-industrial parks in four regions.  Ethiopia recently secured a €22 million loan from Italy for the development of agro-industrial parks in the country. The loan agreement was announced by the...

East Africa accounts for 23% of the funds raised by African startups since 2019. Kenyan startups attracted most of those funds or some US$1.9 billion in two years and a half.  East African startups raised US$2.3 billion between 2019 and May 2022. The amount represents 23% of the overall funds raised by African startups during the period.   Most of the US$2.3 billion (84%) was...

The IPO, which is the first of its kind in Egypt and the Middle East & North Africa (MENA) region, is expected to increase the capital of Ghazl El Mahallah Football Company from EGP98 to 200 million.   Ghazl El Mahallah Sporting Club made its Initial Public Offering (IPO) on the Cairo Stock Exchange on Sunday, June 12, becoming the first soccer club to get listed on the Egyptian stock...

Demand for broadband connectivity is rising in Africa since 2020. The demand is driven by the accelerated digital transformation prompted by the Covid-19 pandemic. As the trend is expected to continue, Cabo Verde is investing to build its internet capacity.  EllaLink, the subsea cable connecting Europe to Latin America, became operational in Cabo Verde last June 6. The new infrastructure is...