The investments made by the International Finance Corporation (IFC) into small and medium-sized enterprises (SMEs) in Africa and the Middle East reached $10.4 billion in FY 2021. This is double the $5.6 billion in FY 2020. Most of the amount went to digital infrastructure, health, financial services and energy. The institution granted $1.6 billion to help health facilities and...

The Algerian government announced it has broken off its diplomatic ties with Morocco. "Algeria has decided to break its diplomatic relations with Morocco from today," Foreign Minister Ramtane Lamamra (pictured) said yesterday August 24. The information comes after tensions between the two countries escalated in recent months. Last Wednesday, Algiers denounced "incessant hostile acts" carried out...

After several threats of sanctions and visa restrictions, the United States has finally taken action. Biden’s country announced yesterday August 23 effective sanctions against the leader of the Eritrean army. General Filipos Woldeyohannes (pictured), “is designated pursuant to Executive Order 13818, which builds upon and implements the Global Magnitsky Human Rights Accountability Act and...

The United Nations wants to put ICTs at the service of peacekeeping strategy.  The new plan was revealed in a recent address by the institution’s Secretary-General Antonio Guterres (pictured). During the Security Council debate on technology and peacekeeping held last week, Mr. Guterres explained this four-step plan. “First, we must drive technology innovation at Headquarters and in the...

Earlier this month, the International Monetary Fund just approved the disbursement of $650 billion in Special Drawing Rights (SDRs) to finance the world’s post-Covid-19 recovery. As the allocation came into effect Monday, observers wonder whether rich countries will show solidarity with the third world. Given that SDRs are granted based on the size of their economies, it is obvious that...

Over the next five years, the government of Tanzania seeks to collect TSh5 trillion ($2.1 billion) in mobile money tax. Speaking during the conference for teachers with disabilities held last August 19 in Dodoma, National Assembly Speaker Job Ndugai (pictured) said the resources will fund social services. “The newly-introduced levy that was endorsed during the previous parliamentary budget...

The Egyptian government recently announced it is investing $2.5 billion in a seawater desalination project. By 2025, 17 solar-powered desalination facilities with an overall daily capacity of 2.8 million cubic meters will be constructed. They will be built, owned, and operated by the Egyptian sovereign wealth fund in partnership with local and international private investors. The project...

The escalation of terrorism in the Sahel goes with an increase in the number of victims. Between 2012 and 2018, the death toll jumped fourfold and millions of people found themselves in dire insecurity, particularly in Burkina Faso. On Wednesday, August 18, the country suffered another deadly attack in Soum, between Arbinda and Gorgadji. It happened when a mixed patrol of Defense and Security...

Agribusiness giant SIFCA, owned by the wealthy Billon family in Côte d'Ivoire, is riding on good vibes on the Abidjan-based regional stock market BRVM. The whole agricultural segment is doing quite well on the market. SIFCA is a direct shareholder of Sucrivoire (51.5%) and Palm CI (41.6%). It also owns 55.6% of Euronext Paris-listed SIPH (International Rubber Plantations Company), which in turn...

Investors on the Abidjan-based regional market BRVM are already enjoying a positive post-Covid-19 recovery. In addition to higher dividends, they saw an increase in the value of their shares. This impetus should continue in the short term. As of August 9, 26 BRVM-listed companies had already distributed CFA308.4 billion ($551 million) in dividends to their investors, according to data gathered...