With Madagascar offering one of the purest environments as well as extraordinary flora, it is not a surprise that essential oils produced on the Red Island are highly appreciated by high-end brands and consumers all over the world. The island is home to 12 000 plant species (or 3% of those on the entire planet) and many of them exist only in Madagascar. Over centuries, Malagasy people...

On February 13, Djibouti has launched the final implementation of the National Development Plan (NDP) for the period 2020-2024: "Djibouti ICI". This is a particularly ambitious plan, based on three strategic axes: Inclusion - Connectivity - Institutions. A plan that fits into the Vision 2035 framework, the future strategy defined by President Ismaïl Omar Guelleh. And a plan that builds on the...

African entrepreneurs provide a service to a growing business niche.  Mwungano, which means alliance in Swahili has been created by two communication industry veterans, Sophie Masipa, CEO of Fikira Consulting, and Kwame Senou, Founder and Managing Director of Holding Opinion & Public (HOP). Today, the pair have joined forces to expand their offering, launching the first specialist...

On the sidelines of the EU-AU summit scheduled for next February 17-18 in Brussels, several African and French leaders are expected to hold meetings in Paris ahead of the actual summit. One of the preliminary meetings concerns “investing together, for a new alliance between Africa and Europe.” It will be organized in partnership with the French Development Agency and be attended by...

The Board of Directors of the African Development Fund has approved a $4.3 million grant to support statistics development in Somalia. The Board of the African Development Fund, the concessional window of the African Development Bank Group, approved the grant on 14 February. The Statistics Development Support Project for Somalia will entail providing technical assistance and training staff...

Congo Terminal, a Bolloré Ports subsidiary, continues to upgrade the Port of Pointe-Noire and has just achieved a new milestone with the completion of the extension works of the yard surface area of dock D. The works which began a year ago and had a price tag of 3 billion CFA francs (approximately €5 million), have increased the storage area by 3.5 hectares and will support additional...

The U.S. announced an investment of $39 million to help Ethiopia deal with the ongoing drought episode. The money will be channeled through the U.S. Agency for International Development (USAID), according to a Feb. 14 statement. The investment will be directed towards vulnerable people living in the southern and southeastern parts of the country. It will be used to provide them with school...

Investors reacted well to Axian Telecom's first international bond market transaction in 2022. But compared to 2021, they appear less enthusiastic about telecom operator debt in general. The Pan-African telecom service provider Axian Telecom has just completed successful fundraising on the international bond market, mobilizing $420 million. The operation attracted major institutional...

Amethis has strengthened its portfolio of Ivorian companies by taking a minority stake in the capital of SIBM. The transaction includes an equity contribution and a subscription to convertible bonds. Amethis, a private equity firm and partner of Edmond de Rothschild Private Equity, announced it has finalized a €23 million ($26 million) investment in Société ivoirienne de béton...

Morocco wants to reduce its greenhouse gas emissions by 45.5% by 2030. The country also plans to increase the share of renewable energy to more than 52% by 2025. The European Commission President Ursula von der Leyen (pictured) has announced an investment of €1.6 billion ($1.8 billion) to support the energy and digital transition in Morocco. The project will run over the next five...