Following his trips to Kenya and Nigeria, the U.S. Secretary of State Antony Blinken ended his African mini-tour in Senegal. With Senegalese authorities, the U.S. envoy discussed security challenges in West Africa and explored ways to strengthen cooperation in various areas. The United States has signed new memoranda of understanding worth $ 1 billion with Senegal. The announcement was made...

Africa has recently become a melting pot where many international companies meet. The continent is undoubtedly going through a shift on its economic, cultural, and social levels. To tap into this opportunity, French group Le Monde has prepared and kicked off since 2015 a plan to enter the market and become a hub pan-African media group. This plan has reached another milestone with the recent...

From January to September this year, Dangote Cement has hit a total of $2.48 billion (N1,022 billion) in revenue. This is a record for the Lagos based Stock Exchange company. Sales in Nigeria, the company’s main market, were up 36.25%. The improvement is driven by an 18% increase in volumes purchased by local customers, which reached 14.1 million tons over the period. Revenues from...

The Ivorian government sets plans to increase its defense investment next year. To address the growing terrorist activity in the country, Côte d'Ivoire will invest $651 million (CFA378 milliards) in 2022. This is $43 million more than the amount invested this year (+7%). The 2022 defense expenditure represents about 3% of the total state budget of $17 billion proposed by the...

Rwanda has placed digital transformation at the heart of its development strategy. Over the past few years, the country has signed various partnerships with international tech companies to achieve its ambition. On Thursday, the Ministry of ICT and Innovation announced a collaboration with U.S. tech giant Google to accelerate the process. The deal is built on key areas such as the development of...

Following the previous dip of remmitances to sub-saharan Africa by 0.4% in 2019 and 12% in 2020 due to the pandemic, things have improved this year. According to data from the World Bank, money sent home this year, by sub-saharan Africans in disapora has amounted to $45 billion. This is 6.2% higher than last year. The rebound in remittances, which represent a real social safety net for many...

Bolloré Transport & Logistics in Kenya has been included in the 2021 Business Integrity Index by the British Chamber of Commerce in Kenya. The Business Integrity Index recognises businesses that are committed to ethical business practices in their operations, and is based on an assessment of a company’s regulatory compliance, track record and internal policies against corruption. The 2021...

The AXIAN Group announces its subscription to Actis Energy 5, a new energy fund being managed by Actis, an investment company known for its investments in the energy sector of developing economies throughout Africa, Asia and South America. AXIAN JOINS ACTIS ENERGY 5 AXIAN continues to pursue its investment strategy through its commitment to the Actis Energy 5 fund. This commitment is an...

IHS Towers has reached a deal with MTN Group to acquire new towers in South Africa. MTN will sell its energy towers and infrastructure to IHS Towers for R6.4 billion (about $412 million). Although the two entities are legally independent, MTN is the largest shareholder in IHS Towers, with a 25.9% stake. The buyer expects the acquisition to generate an additional $220 million in revenue...

Zimbabwe will not receive financial support from the International Monetary Fund (IMF). In a November 16 statement, the institution said the decision is due to “an unsustainable debt and official external arrears”. Although the Fund welcomes the efforts made so far by the authorities to contain inflationary pressures, it points out that Harare's debt problems are a major obstacle to its...