The G7 group, an inter-governmental political forum including Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, is committing $382 million to tackle the increasing food crisis and famine in the Northeast region of Nigeria. This was disclosed on Thursday, July 8, 2021, in Abuja during a meeting held by Catriona Laing- the British High Commissioner to Nigeria-...

South Africa's Imperial Logistics has been particularly buoyant on the Johannesburg Stock Exchange where it is listed, increasing by 34.5% on July 8. The reason is the announcement of an $890 million offer by DP World, the Dubai-based port management company, to buy the entire company, which specializes in logistics and air freight. The Emirati offer is 40% higher than Imperial's market...

For the 2021 edition of its fiscal transparency report, the U.S. State Department features 141 countries worldwide. Sixteen African states, including seven from ECOWAS, meet the minimum requirements of fiscal transparency as defined by Washington. Côte d'Ivoire, Togo and Burkina Faso fit the box. These three countries are the only ones in the WAEMU to be included in the first category,...

The Board of Directors of the African Development Bank Group has approved two grants worth $83.6 million to boost cross-border trade in electricity between Ethiopia and Djibouti and to deepen integration in the Horn of Africa sub-region. The funds comprise a $69.65 million grant to Ethiopia and a second grant of $13.93 million to Djibouti, both sourced from the African Development...

MAGIC Fund, an early-stage venture capital fund created by founders for founders, is announcing a $30 million investment for its second fund to continue backing early-stage startups. “The vision for MAGIC is going back to how early-stage venture capital began, which is, founders investing in other founders and supporting them through the journey. We’re going to keep scaling this up as...

US rating agency S&P Global Ratings estimates economic growth in Côte d'Ivoire at 6% for 2021. In an official document consulted by Ecofin Agency, S&P Global Ratings said it expects that further structural reforms, as part of the Ivorian National Development Plan 2021-2025, will allow for a strong economic growth trajectory, after the contraction in 2020 due to Covid-19. The Agency says Côte...

G20 ministers will approve the OECD's proposal for corporate tax reform and its inclusive framework. However, voices including that of Tax Justice Network have been raised to denounce the reform’s mismatch with the needs of the poorest countries. Tax Justice Network estimated on Tuesday, July 6 in a statement that the agreement on international taxation for which the Organization for Economic...

The pan-African Postal Union signed on July 5 an agreement with Lleida.net to digitalize postal services in Africa.  The deal was inked by Lleida.net SaaS Middle East and Africa DMCC, a subsidiary of Lleida.net, to coordinate 55 public postal enterprises on the continent, stimulate postal innovation, and help these enterprises offer digital postal services to the people. "As a leader in...

The rebound in global demand in the automotive sector has well benefited Morocco over the second quarter this year. The sector weighed heavy in the country's export revenues during the period. “Exports of goods were boosted by improved foreign sales of automobiles in the construction and wiring (passenger cars) segments," a document issued by the High Commission for Planning said. Sales of...

FLASH's financial products and services are now available in SCPT agencies. Since the advent of law n°08/007 of July 08, 2008, transforming the OCPT into a commercial company "SCPT", the door has been wide open for this public company to forge partnerships with other private companies for the fulfillment of its mission. One of the recent strategic partnerships concluded by the Congolese Post...