The Bolloré Group announces that it has received an offer from the MSC Group, a major player in container transport and logistics, to acquire 100% of Bolloré Africa Logistics, comprising all of the Bolloré Group’s transport and logistics activities in Africa, on the basis of an enterprise value, net of minority interests, of €5.7 billion. The Bolloré Group has granted the MSC...

Rwanda's nominal GDP level increased from RWF2,453 billion in September 2020 to RWF2,746 billion in September 2021. This makes an increase by 10.1% year-on-year according to a recent report by the national stats agency. In general, the Rwandan economy is mainly driven by services, with almost half of the GDP shares (48%). Agriculture accounts for 23% of GDP and industry 21% while taxes and...

The average value of transactions on the BRVM is now close to CFA2 billion ($3.3 million) as of December 17, 2021. Although this figure represents a real progression in this market, it remains low compared to other markets of the same size. Twenty-five years after its creation, liquidity remains a challenge on the WAEMU Regional Securities Exchange (BRVM). A group of experts discussed the issue...

The African Development Bank Group is pleased to announce the appointment of Ms. Yacine FAL, currently Director General, Cabinet Office of the President, as the Acting Vice President, Regional Development, Integration and Business Delivery of the African Development Bank Group. Her appointment is effective from 17 December, 2021. In her current position as Director General, Ms. Fal oversees the...

The Board of Directors of the African Development Bank Group has approved a $1.5 million grant to assess policy gaps in the digital trade and e-commerce ecosystems in 10 countries in Africa. The funds, sourced from the African Development Fund, the Bank’s concessional window, will go to the Smart Africa Alliance, an alliance of 32 African countries, international organisations and global...

Women-focused PE fund manager Alitheia IDF announced it has raised $100 mln as part of the final closing of its fund. It thus becomes “the largest gender-lens private equity fund by value in Africa,” according to its management team. “Globally, women have tremendous purchasing power as consumers and controllers of household economics. In the same vein, women entrepreneurs have a...

PE firm Amethis announced today it has sold the 33.77% stake it holds in Velogic, a Mauritius-based logistics company active in the Indian Ocean. After 8 years, Amethis exits Velogic for 790 million Mauritian rupees, or about $18 million, according to the available information. The operation is achieved through the listing of Velogic on the developing companies segment of the Stock Exchange...

The Telecom regulator in Guinea announced new measures to reorganize the e-payment sector. The decision follows the adoption last December 9 of a new law on e-transaction in the country. Arpt established several specifications to prevent abuse and defined a guideline for the sector’s players. They include providers of mobile money solutions, mobile banking, electronic payments, electronic...

Bolloré Logistics announces the launch of SEAalternative, a new offer to reduce CO2 emissions from maritime transport through the use of alternative fuels such as LNG (Liquefied Natural Gas), biogas and Biofuel. This new solution is for one-off and regular shipments across all geographical areas. Bolloré Logistics works closely with shipping companies to support customers wishing to...

Creating a digital currency could save African countries the money they use to pay foreign banknote printers. But there are many challenges to this strategy that needs to be understood, according to Raymond Gilpin, Chief Economist and Head of Strategy, Analysis and Research at UNDP Africa. He said this on the sidelines of the 16th edition of the African Economic Conference held in early December...