The World Bank wants Africa to catch up with the global vaccination pace. As part of this ambition, the institution announced it will work closely with the Africa Vaccine Acquisition Task Team (AVATT) and the African Union to provide vaccines for 400 million people across the continent. The initiative, for which the World Bank has granted $12 billion, aligns with AU’s target to vaccinate...

The Regional Stock Exchange of West African Monetary Union (BRVM) is now a full member of the World Federation of Stock Exchanges (WFE). Joining eight other African stock exchanges. 0n May 27th, 2021, the WFE Board of Directors, approved BRVM’s full membership application. This admission crowns the efforts of the WAEMU Stock Exchange to pass the various stages to obtain the quality of full...

Following the internal conflict that Libya has experienced, its technology and telecoms sector has been largely damaged. The government therefore seeks to revive the sector to keep the pace with global digital transformation. The Egyptian Minister of Communications and Information Technology, Amr Talaat, and Faisal Ahmed Qarqab, chairman of the Libyan Telecoms Holding Company, discussed...

The World Bank has allocated a total of $200 million to support the government of Benin in its effort to improve access to electricity in the country. The money will be disbursed via the International Development Association IDA. The project will consist of the construction of 2,000 km of medium voltage lines and 4,000 km of low voltage lines. At least 20,000 streetlights will be installed...

Late last week, the Congolese oil ministry sent a letter to Oil of DRCongo - owned by Israeli billionaire Dan Gertler (pictured)- requesting all data collected, and payments related to the production sharing agreement concluded in 2010. The letter was sent as Oil of Congo’s two exploration permits for blocks 1 and 2 expired last June 16 and Kinshasa no longer wishes to develop the project with...

The Heads of State of the Economic Community of West African States adopted a new roadmap for the implementation of the region’s single currency ECO. Gathered for a summit last June 19, the leaders have now set the project for 2027. Jean-Claude Kassi Brou, Chairman of the ECOWAS Commission, said the new guideline was decided after the Covid-19 pandemic disrupted the initial plans, which would...

Ten months after it started operations in Côte d'Ivoire, Orange Bank has already granted a total of CFA45 billion ($82.2 million) in loans. Orange Bank offers two services. The Tik Tak loan starting at CFA5,000 which is available 24/7. Tik Tak savings start at CFA1 and are remunerated at an annual rate of 3.5% excluding tax, up to a limit of CFA10 million, and the interest is paid each month...

Rating agency Moody’s expects Africa’s big banks by stock market value, which are mainly found in South Africa, Kenya, Morocco, and Nigeria, to remain profitable in 2021, despite Covid-19 which led to an increase in provisions for credit risks. In a report issued yesterday, Moody’s said it expects lower provisions in South Africa, Kenya, and Morocco to increase banks' profitability this...

The Africa Renewable Energy Fund II has achieved its first close at €130 million, following a joint investment of €17.5 million from The Sustainable Energy Fund for Africa and the Climate Technology Fund through the African Development Bank. AREF II, a successor to the original Fund, is a 10-year closed-ended renewable energy Private Equity Fund with a $300 million target...

In his indictment delivered yesterday June 16, Richard Adou, prosecutor of the Republic of Côte d'Ivoire, requested life imprisonment against Guillaume Soro (pictured). The former rebel leader was facing charges of "conspiracy", "and "attempted attack on the authority of the state", along with 19 of his supporters, as part of a trial that began on May 19 at the Abidjan criminal court. According...