According to the World Bank, in Côte d'Ivoire poverty declined from 46.3% in 2015 to 39.4% in 2020. However, the number of poor people has increased by 2.4% in rural areas over the same period. The government now wants to reverse this trend with sustained investments. Côte d'Ivoire plans to reduce its poverty rate from 39.4% to 31.5% in the next three years. The plan was announced by the...

African countries are heavily dependent on food products exported from Russia and Ukraine, although in various proportions. If the ongoing conflict lingers, several countries on the continent may be affected by hunger.  Russian President Vladimir Putin recently drew unconventional weapons to increase his influence on the international diplomatic scene. Those weapons are grain and...

FBN Holdings started the year 2022 with strong quarterly performance. However, its investors seem to be inclined to taking profits after 12 months of uptrend share performance.  FBN Holdings, Nigeria's third-largest banking group by market capitalization, recently posted a net profit of US$77 million for Q1-2022. This result -up by more than 106% year-on-year- is the best it recorded since...

Since 2020, demand for internet connection is booming in Africa, due notably to the coronavirus pandemic and new digital uses. To meet the demand, which is likely to continue in the next few years, new investors are positioning themselves. Nigeria authorized Elon Musk’s satellite internet constellation Starlink to offer satellite internet services in the country. The news was disclosed by Elon...

The Management Board and Governing Council of the African Legal Support Facility (ALSF) have expressed satisfaction with the strong 2021 performance of the ALSF. They also commended the team’s timely and sustained response to the impacts of the Covid-19 pandemic across the Facility’s areas of intervention. The Board and Council also passed resolutions regarding ALSF operations. This was the...

The African Development Bank Group has concluded five days of annual meetings in Accra, Ghana on Friday with a rallying cry from its President Dr. Akinwumi Adesina, to be proud of Africa’s progress. He told delegates at a spectacular closing ceremony at the end of the Bank Group’s Annual Meetings that they were all what he called “partners in hope who shared a passion for the...

SAPH CI posted sound financial results for the first quarter of 2022. However, the result is not yet showing in its share value. An analysis posted by Socfin gives clues to what may be wrong.  From January 2022 to date, BRVM-listed Société africaine de plantation d'hévéas (SAPH CI)’s share value has risen by 5.87% according to data gathered by Ecofin Agency.  This is...

The assistance is aimed at supporting the reform programs being implemented by Tunisia to address its economic crisis.  The European Union (EU) announced, Wednesday (May 25), the disbursement of a US$ 321.8 million macro-financial assistance to Tunisia. The disbursement was announced in a release published on the EU delegation to Tunisia’s website.   The note states that this...

IPv6 is the latest internet layer protocol introduced by the Internet Engineering Task Force (IETF). Like many operators, Orange is preparing for its transition to that new protocol amid accelerated digital transformation in Africa.  Telecom operator Orange Tunisia will transition from IPv4 (Internet Protocol version 4) to IPv6, the latest protocol, by the end of this year. The plan was...

According to the AfDB, Africa needs an additional US$432 billion to finance its recovery at a time when budgetary margins have been severely squeezed and growth prospects jeopardized by the war in Ukraine and ever-pressing climate challenges. For President Akinwumi Adesina, the continent needs to act now.  Africa “risks sliding into stagflation —a combination of slow growth and high...