The downward trend in democracy worldwide accelerated in 2021. In Africa, restrictions due to covid-19, insecurity, and political tensions were added to a series of coups in the sub-Saharan region. The Economist Intelligence Unit (EIU) has just published its 2021 report on global democracy, which ranks countries worldwide based on the democracy level. The ranking features 50 African countries...

Kenya, like virtually every country in the world, is being hit hard by climate change. To mitigate the effects of a severe drought on its agricultural sector, the country is now focusing on implementing green initiatives. Partners are supporting this strategy. The U.K. announced the disbursement of $41.3 million to help Kenya rebuild its forests and achieve a full transition to renewable...

The International Finance Corporation (IFC) announced yesterday it has completed a $10 million equity investment in South African Knife Capital Fund III, dedicated to financing high-growth and expansion-stage tech companies. Unlike the first two vehicles launched by Knife Capital in 2016 and 2010, respectively, this vehicle mainly targets Series B investments. It aims to reach $50...

AXIAN Telecom, a leading pan-African provider of telecommunications, mobile money services and digital infrastructure has successfully priced its US$420 million Senior Notes, due in 2027. The successful pricing of the bond, which launched yesterday on Wednesday 9th February 2022, was supported by anchor orders from development finance institutions CDC, DEG, EAIF and IFC. From initial price...

The African Development Bank, the World Health Organization Regional Office for Africa and their partners in the Harmonization for Health in Africa Initiative have published A Practical Guide to Value for Money in the Health Sector in Africa. Global public health is increasingly pitting ambition against limited resources. Africa finds itself faced with two extremes: great expectations for the...

Moove, an African mobility fintech, has partnered with CFAO Motors, a department of CFAO Automotive, Africa’s largest automotive distribution network with a presence in 36 countries, and purchased over 5,000 brand-new, fuel-efficient Suzuki vehicles for its mobility entrepreneurs across Ghana and Nigeria. With deliveries already commenced, the alliance marks a major breakthrough in bridging the...

The government of Cabo Verde has launched a project to propel the development of vibrant capital markets in the country. The Bank approved a $350,000 grant from its Capital Markets Development Trust Fund in October 2021 to help develop the country’s first-ever Capital Markets Masterplan. The funds will also facilitate the expansion of domestic fixed-income markets by upgrading existing...

The Kenyan subsidiary of power producer Alten Energías Renovables secured a $35 million loan from British Emerging Africa Infrastructure Fund (EAIF). The facility, which comes to maturity in 15 years, will be used to finance the construction of a solar power plant in the Rift Valley region of Kenya. The transaction represents EAIF’s first investment on the continent in 2022. A first...

After a contraction of 1.8% in 2020, the Nigerian economy started a gradual recovery, thanks in particular to the rise in oil prices and government support. Although lower compared to 2021, the IMF expects positive growth of 2.7% this year. Nigeria's economic growth in 2021 is expected to rise to 3%, the IMF said in a report issued yesterday February 7. This estimate is motivated by the...

After the pandemic-induced slowdown in 2020, Ivorian growth has been on an upward trend since 2021. The IMF expects the recovery to continue this year, thanks in particular to government investment. Côte d'Ivoire should have a robust economic growth this year, IMF reported in a recent statement. The institution says the implementation of a solid reform program under the National Development...