The country, which is hit hard by climate change, plans to raise at least $4 billion in the domestic market and the balance from foreign donors and private investors. From 2021 to 2030, Uganda needs $28.1 billion to finance its climate projects, the Ministry of Finance said in a paper published earlier today.   The funds are needed “to finance adaptation and mitigation...

The African Development Bank Group, on 9 May 2023, announces a 24-month debarment of Goldsun Investments Company Ltd. with effect from 31 January 2023. Goldsun Investments Company Ltd. is a limited liability company registered in the Republic of Kenya. An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Goldsun Investments Company Ltd. engaged in...

The IMF estimates that the significant reduction of tariff and non-tariff barriers should be accompanied by far-reaching reforms of the business environment to maximize the impacts on trade integration.  According to a report published on May 5 by the International Monetary Fund (IMF), the adoption of the African Continental Free Trade Area (AfCFTA) has the potential to not only...

Given the current environment of rapid digital transformation and increasing demand for high-speed connectivity, 5G has become a necessity. It plays a crucial role in addressing the connectivity needs that have arisen due to the emerging digital consumption patterns since 2020. Tunisia will proceed to the commercial deployment of the 5G network technology in 2024. The roadmap for the deployment...

Viviane Kakou, who has a master’s degree in geography, didn’t want to spend her career in an office. She chose agriculture out of passion. Thanks to the African Development Bank, her dream of becoming an agricultural entrepreneur is taking shape.  “When I was studying for my degree,” she explains, “I was working on the rural economy among women in Afféry, in Adzopé department in...

Since 2021, the EU and Guinea-Bissau have been implementing a 6-year development program, worth about €112 million, to support key areas such as education, the green economy, and good governance.  Guinea-Bissau and the European Union (EU) signed, Thursday (May 4), a €17 million financing agreement to support the education and vocational training sector. The funding will enable...

The Senegalese government bets on digital technologies to spur socio-economic development.  For that purpose, the country is multiplying initiatives and investments to generalize the use of ICT tools nationwide.  National roaming is scheduled to become effective in Senegal next May 17. The project, which is one of the 10 priorities of the telecom regulator ARTP, was presented to media...

Since the beginning of April, the WAEMU government securities market has been gradually recovering, after the slowdown observed in the first quarter. The dynamic is strengthening with subscription rates rising and institutional investors showing renewed interest. However, those operations are becoming more expensive for governments.    WAEMU states raised CFAF134.84 billion ($226...

Last year was difficult for Unilever's Ivorian subsidiary, as it faced challenges in its export markets, particularly Mali, and the sale of its tea business. The company experienced a loss of revenue and margins. Unilever Côte d'Ivoire, the Ivorian subsidiary of the food and hygiene products giant, ended 2022 with a net loss of CFA6.3 billion, compared to a profit of CFA175,000 in...

All sectors of activity attracted more FDIs, except the energy sector. FDIs in the latter were reduced as almost no permit was issued for oil and gas exploration. Foreign direct investments (FDI) to Tunisia reached 652.9 million dinars ($215 million) in the first quarter of 2023, up 10.2% compared to the same period of 2022, according to data released on Wednesday, May 3 by the Foreign...