Africa’s gross domestic product has recovered strongly in the last year, but the lingering effects of the Covid-19 pandemic, Russia’s invasion of Ukraine and the ensuing war could pose considerable challenges in the medium term. This is according to the 2022 African Economic Outlook, released by the African Development Bank on Wednesday. Africa’s gross domestic product grew by an estimated...

The infrastructure is in line with OneWeb’s ambition to provide broadband internet connection everywhere.   Satellite operator OneWeb announced the successful installation of 15 OneWeb antennas and related equipment at a satellite network portal (SNP) in Accra, Ghana. The new infrastructure is OneWeb’s first SNP in West Africa. It is built and installed in collaboration with...

The coronavirus reduced credit offers in emerging markets. In this risk aversion context, Partners for Growth wants to stimulate the private debt market.   US-based fund manager Partners for Growth (PFG) will soon set up an investment vehicle dedicated to innovative firms operating in emerging markets, including Africa.  The fund, whose target size has not been disclosed, will...

The agreement is a major step in the implementation of the programs announced by the UK during COP26 Glasgow in late 2021.  UK Minister for Africa Vicky Ford and AfDB President Akinwumi Adesina signed, Wednesday (May 25), a “Room to Run” agreement to fund up to US$2 billion in climate projects in Africa. The agreement was signed in Accra, Ghana, on the sidelines of the AfDB annual...

Bolloré Transport & Logistics was recently commissioned to handle a logistic operation organizing the first direct shipment of coffee by Kenyan farmers to South Korea without the use of a coffee brokerage. This was made possible thanks to sector reforms by the government of Kenya that now allow farmers to market their produce directly with a view to fetch a better price for their produce. The...

Owendo Container Terminal (OCT), operator of the container terminal of the Port of Owendo, has been granted the Green Terminal label following an audit conducted by Bureau Veritas on 4 May 2022. This label rewards the efforts made by the company to reduce the impact of its activities on the environment by implementing eco-responsible measures. The audit was conducted by Bureau Veritas experts...

The African Development Bank Group’s annual meetings officially opened on Tuesday with a ringing endorsement of the institution by the Ghanaian government and a call on member countries to back the institution as the main engine for the continent’s economic growth. Accra is host of the group’s annual gathering, which for the first time since 2019 will see in-person sessions. Speaking at...

One month after the country adopted bitcoin as a legal tender, it is planning to launch a cryptocurrency investment hub.  The Central African Republic (CAR) will soon launch Africa’s first “legal bitcoin investment hub,” baptized “Sango.” The project was announced in a release published by the Presidency on May 23.  “We can no longer rely solely on the current economic...

Mozambique is one of the global countries with the highest number of people living with HIV-AIDS. To curb the spread of the disease, it elaborated a national program called Country Operational Plan. The support approved by the U.S. will partially fund the plan.    The United States has approved a US$404 million support to help fight HIV/AIDS in Mozambique. The information was...

The digital transformation prompted by the coronavirus pandemic boosted demand for postal services, notably with growing e-commerce activities. To keep up with the demand, African countries are exploring collaboration opportunities.   Postal Corporation of Kenya (PCK) and Somaliland Postal Services signed, last week, a memorandum of understanding to exchange information and cooperate...