The Global Center on Adaptation (GCA) and the African Development Bank have launched a call for applications for the first edition of the African Youth Adaptation Solutions (YouthAdapt) Challenge. The call encourages young entrepreneurs, innovators from micro, small and medium-sized enterprises (MSMEs) and other youth-led and youth-owned enterprises in Africa, to implement solutions for building...

Many African countries have successfully mobilized money on the international debt market this year. However, the amounts they are allowed to raise are still low compared to those of the so-called mature markets, whose debt structure is even more deteriorated. New foreign currency debt issues from low-income countries are expected to reach $20 billion, according to a report on global debt...

Benin Terminal, which operates the Port of Cotonou's container terminal, commissioned two empty container handlers built by Konecranes, a specialist in lifting equipment, on 1 September 2021. Following their delivery in mid-August, they were installed and the operators trained.   With a total cost of 300 million CFA Francs (€467,000) financed by Benin Terminal, these two cutting-edge...

The Ivorian government announced yesterday it has launched an anti-graft operation to clean up and make all public services transparent. In an official statement, the Minister for the Promotion of Good Governance, Zoro Epiphane Ballo, said the "coup de poing" operation mainly targets the police and gendarmerie. These two sectors are the most corrupt according to 58% of the population, a 2019...

The management of health crises in Africa is a major concern, especially since the Covid-19 outbreak. Countries and development partners are pulling efforts to find an effective approach to handle such crisis on the continent. On Monday, September 13, the Institut Pasteur in Dakar (IP Dakar) and the Pan African Mutual Risk Management Organization (ARC) signed a partnership agreement to...

Two billion dollars. That’s how much AFC Capital Partners wants to raise over the next three years to fund infrastructure projects that will make Africa more resilient to global warming. The asset manager unveiled its plan via a statement it released on Sept. 14.   AFC Capital said it would raise the first part of the funds, $500 million, over the coming year. According to the...

Yesterday September 14, 2021, Benin and China signed close to US$40 million concessional loan agreement for the implementation of the broadband internet project PDRHD. The deal was signed by Minister of Foreign Affairs Aurélien Agbénonci, representing Benin (the beneficiary), and Peng Jingtao, Chinese ambassador to Benin. According to minister Aurélien Agbénonci, the funds thus provided will...

The Wagner Group is reportedly close to reaching an agreement with the Malian junta. Diplomatic sources who requested anonymity told Reuters that the group will train troops and ensure the protection of senior officials. For the moment, the authorities have not officially confirmed this information. Reuters reported that as part of the negotiations, the Wagner mercenaries could be paid more...

The Board of Directors of the African Development Bank Group has approved a $50 million Trade Finance Unfunded Risk Participation Agreement (RPA) facility between the African Development Bank and Standard Chartered Bank. The agreement is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of the trade finance gap in Africa, in line with...

In Sub-Saharan Africa, over 86 million people could become internally displaced persons, by 2050, because of climate change. This would represent 4.2% of the total population by that period. The figures were estimated by the World Bank in its recent updated Groundswell report on Internal Climate Migration which studies the impacts of climate change on water availability, crop productivity,...