The USAID announced an investment to assist the about six million children and their families who lack clean water in Ghana (World Vision International’s data). The organization has pledged $45.5 million over the next five years to improve water and sanitation access in the country. The investment will mainly focus on the Upper East, Upper West, North-East, Northern, Savannah and Oti...

Investment fund manager Zebu Investment Partners (ZIP) has announced an undisclosed investment in poultry company Elgin Free Range Chickens Holdings (EFRCH). This first deal of the year is made through ZIP's second fund -Africa Food Security LP (AFS). Although the amount of the transaction was not disclosed, it is known that Africa Food Security Fund makes equity investments of between $2...

China will waive $10 billion of its special drawing rights (SDRs) to support African countries. The announcement was made on Monday by Chinese President Xi Jinping (pictured). This was during the opening ceremony of the 8th Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC). The decision represents a new step forward in the implementation of the international solidarity...

The African Development Bank’s African Natural Resources Centre and the Sustainable Energy Fund for Africa have hosted the first in a series of webinars discussing the potential of Africa’s blue economy. The webinar, held on November 23, centered around a study on the potential of offshore renewable energy in Africa commissioned by the African Natural Resources Centre as part of a series to...

After a controversial tax reform in the telecom sector, the Zimbabwean government announced the introduction of a new levy on imported mobile phones. The government will apply a $50 levy on imported mobile phones, according to the 2022 national budget presented last November 25 by the finance minister Mthuli Ncube (pictured). Speaking to MPs, the minister explained that although...

This competition honors the top 50 startups promoting financial inclusion in the world. FLASH is a financial and value-added services provider serving unbanked population in emerging markets and has been selected as the winner of the Inclusive FinTech 50 competition. The Center for Financial Inclusion (CFI) recently announced the 2021 cohort of the Inclusive FinTech 50 (IF50) competition,...

After its expansion in Canada last March, the Algerian ride-hailing company Yassir is now getting ready to enter sub-Saharan Africa. The company that connects drivers and passengers has obtained $30 million in Series A financing from a group of investors. Several media relayed the news last November 28.  "The funds were raised in a round led by WndrCo, DN Capital, Kismet Capital,...

Akinwumi Adesina, President of the African Development Bank (AfDB), announced the postponement of the Africa Investment Forum, initially scheduled for December 1-3. The decision stemmed from the international travel restrictions imposed due to the new Covid-19 variant known as Omicron. "The emergence of the Omicron variant has changed everything. Travel has been cancelled, travel restrictions...

Following consultations with the Government of Côte d’Ivoire and the Board of Directors of the African Development Bank Group, the 2021Africa Investment Forum scheduled for December 1-3, 2021, in Abidjan, is postponed until further notice. The President of the African Development Bank Group, Dr. Akinwumi Adesina said: “The Africa Investment Forum is the premier investment marketplace for...

In a report issued yesterday November 28, the UN World Tourism Organization revealed that tourist arrivals in Africa fell by 74% in the third quarter of 2021, compared to 2019. The continent is one of the regions where the decline is alarming. Asia and the Pacific suffered a 95% decline while the Middle East recorded -81%. In the Americas, tourist arrivals dropped by 60% and 53% in...