The President of Guinea-Bissau and his cabinet have been the target of a coup attempt last February 1. Three days after the event, ECOWAS announced it will send stabilization support to the country to prevent any further such attempts. The regional bloc announced so following the extraordinary summit of the institution's Conference of Heads of State and Government on the political situation in...

Difficulty in locating e-commerce operations, difficulty in obtaining documents that can serve as evidence. These are some of the issues raised by the taxation of the sector in African countries. Faced with these challenges and the development of e-commerce, the beninese legislator has chosen to tax electronic consumption. Thus, in Republic of Benin, sales of goods, services and other...

Mali has defaulted on the payments of CFA2.7 billion in interest to its WAEMU creditors. The finance ministry accuses the bloc’s sanctions. In a note signed on February 1, 2022, Mali's Ministry of Economy and Finance announced that the country has been unable to pay a total of CFA2.7 billion ($4.65 million), representing interest due on January 28, 2022, to its WAEMU creditors. The statement...

NBK Capital Partners has made its first investment in sub-Saharan Africa. In a Feb. 1 announcement, the UAE-based investment firm said it has closed a $10 million financing facility with Moove Africa. The beneficiary is a fintech that finances vehicle purchases for individuals in Africa. The deal was executed by NBK Capital Partners' second mezzanine fund. “This investment brings our...

The Cabinet of President Cyril Ramaphosa (pictured) approved last January 28 the rollout of the second phase of SA Connect, the national broadband policy. The government said the second phase of the SA Connect project will be implemented by public entities, including the State Information Technology Agency (SITA), Broadband Infraco, Sentech, in collaboration with private companies. It aims to...

On Tuesday 25 January 2022, Bolloré Transport & Logistics Chad launched the first truck-driven operation to transport 25 tonnes of locally processed beef, with this initial phase destined for Congo Brazzaville (10 tonnes) and the Democratic Republic of the Congo (15 tonnes). This special cargo, carried by refrigerated container via the Chad-Cameroon-DRC-Congo corridor, is the first in a series...

Globacom, which holds the second-largest share of the Nigerian telecom market as of November 2019, is ramping up investments to take the top spot. To achieve this goal, the company will have to overtake its rival MTN, which has further strengthened its position as the market leader. Mobile operator Globacom Limited (Glo) announced it has signed a network expansion agreement with Ceragon Networks...

The president of Guinea-Bissau and his government were targeted by a coup attempt yesterday February 1. In the evening of the same day, President Umaro Sissoco Embalo (pictured) appeared safe and sound during a press conference to indicate that the situation is now under control. "The situation is under control," he said, confirming that it was indeed an attempted coup. According to him, the...

Backed by GreenTec Capital, Amitruck aims to enter new markets as part of its expansion strategy. The Kenyan logistics company, which declared a 1,000% growth in revenue by 2021, has raised the necessary funds for the project. The Kenyan logistics platform Amitruck announced yesterday it is preparing its expansion into Uganda and Tanzania. The project will be partly financed with the $4...

Ethio Telecom announced it missed its financial targets for the first half of 2021 by 13.6%. CEO Frehiwot Tamiru (pictured) revealed this yesterday January 31 during the presentation of the company's financial results for the period from July to December 2021. Revenue over the period amounts to 28 billion birrs ($565 million), up 6.7% compared to the same period in 2020. Ethio Telecom says it...