In 2021, mobile money adoption was confirmed with new records set in terms of transaction volumes and numbers. The performance was facilitated by the development of new uses and the acceleration of digital transformation.  The volume of mobile money transactions in Africa grew by about 40% year on year to exceed US$701 billion in 2021, according to recent data published by the GSM...

On 23 April 2022, Côte d’Ivoire Terminal took delivery of six fleet gantries for the second container terminal currently under construction at the Port of Abidjan. Transported on a semi-submersible vessel specially designed to carry gantries, this delivery is part of an overall order of 13 fleet gantries. This 30-metre-high handling equipment will be used for the loading, unloading and...

The African telecom market is changing. Covid-19 caused a shift in consumer demands. For experts, operators that can not keep up with the shifting demands may completely disappear.  In the long run, African telecom markets will be dominated by just two to three major players, according to MTN Group CEO Ralph Mupita (photo). Speaking during the recent “Think Big” webinar organized...

In early April, Business Partners announced a partnership with an "international partner” to support green SMEs. The disclosed agreement confirms its announcement in a market where green buildings present a US$7 billion investment opportunity between 2016 and 2030, according to the IFC.  The International Finance Corporation (IFC) announced, Tuesday (April 26), a ZAR600 million (about...

Faced with a tough security situation, Nigeria increased its military spending in recent years, to improve its military power. Early this month, the country received approval for its about US$1 billion weapons and military equipment purchasing plan.  Nigeria's military spending rose 56% year-on-year in 2021, according to the 2021 global military spending published by the Stockholm...

The scope of the license granted to Safaricom in 2021 does not include mobile money services. While the operator is currently fine-tuning the launch of its operations in Ethiopia, authorities are elaborating a legal framework to let it offer mobile money services.  Telecom operator Safaricom may be allowed to offer financial services in Ethiopia via Mpesa, its mobile money platform. Indeed,...

This is the first significant fundraising the agritech is organizing in ten years of operations.  Ghanaian startup Farmerline, which facilitates access to fertilizers for smallholder farmers, secured US$12.9 million in funding from a consortium of investors.  In an announcement published on its LinkedIn page today (April 26), the agritech startup explains that the funds were raised...

Based on Côte d’Ivoire’s economic resilience, the reforms initiated by the country, the discovery of new oil and gas reserves, and tax and customs revenues, the IMF forecasts a 6% GDP growth for 2022. Côte d’Ivoire’s tax revenues were 3% more than expected in Q1-2022, according to deputy head of taxation M’bahia Bamba Maférima (photo) as reported in an official release published...

Weeks ago, Equatorial Guinea launched negotiations with telecom operators to reduce the costs of services they provide. The agreement signed on April 20 marks the successful conclusion of those negotiations. It also announces further reductions.  Next May 1, telecom operators active in Equatorial Guinea will reduce their tariffs by 50 percent. The decision is the result of a preliminary...

A few days ago, the central bank issued the first e-money issuance license to a fintech, Wave notably. With the creation of the support bureau, analysts expect incentive guidelines for fintech startups active in West Africa. The Central Bank of West African States (BCEAO) announced, Friday (April 22), the creation of its fintech bureau. Dubbed BCSF (French acronym for fintech supervision...