The Board of Directors of the African Development Bank have approved an €83 million loan to finance the second phase of Egypt’s Electricity and Green Growth Support Program. The funding is part of the Bank’s budget support to the Egyptian government to strengthen its electricity infrastructure, which is expected to bolster the private sector and accelerate recovery from the Covid-19...

Burkina Faso has welcomed a new operator on its optical fiber segment. After Onatel last year and then GVA in early June, the French group Orange has launched optical fiber connectivity for individuals and businesses. The telecom company officially launched the service last week in Ouagadougou in the presence of the Minister of Digital Economy, Posts, and Digital Transformation, Hadja Fatimata...

Since 2015, the UN has set the goal of eliminating hunger in all of its forms by 2030. While this ambition remains on the agenda, the end of the tunnel still seems far away.  The gap to reach a hunger-free world by 2030, as set up by the UN in the SDGs, seems to be widening. While the number of people affected by hunger has been constantly decreasing from 826 million to 629 million...

South African President Cyril Ramaphosa addressed the nation yesterday evening on the evolution of Covid-19. He said the country has moved to a third wave and will therefore return to tighter restrictions as the number of new infections continues to escalate. “About two weeks ago, we were recording around 3,700 daily infections. Over the last seven days we have recorded an average of 7,500...

Protests, terrorist attacks, abductions, etc. Nigeria has been grappling with rising insecurity over the past months; a situation that deters the activities of many businesses across various sectors, sparing not even a telecom giant such as MTN. MTN Nigeria, the country's largest mobile network operator, said it could disrupt its service due to mounting insecurity in many parts of the...

In the vision of getting closer to the Congolese population with solutions that make their daily lives easier, FLASH and FINCA have just concluded a strategic partnership contract based on the provision of financial services and value-added services of the FLASH platform on the entire FINCA network as well as the provision of FINCA deposit and withdrawal services to all FLASH agents and its...

Total Senegal closed the day on Monday, June 14 with a value up 7.43% on the Regional Stock Exchange (BRVM) in Abidjan. This is the second largest increase for a stock listed on the sub-regional financial market at the beginning of the week, after the 7.5% increase posted by Crown Siem CI. T The performance of the Senegalese subsidiary of Total follows the announcement of a dividend per share of...

The Dubai-based airline, Emirates, posted an annual loss of $5.5 billion for the 2020-2021 financial year. This is, according to the airline’s chairman and chief executive, Sheikh Ahmed bin Saeed Al Maktoum, “its first-ever loss in over three decades.”   The annual revenue of the carrier fell 66% to $8.4 billion, due to “significant flight and travel restrictions...

US company PHP Ventures (people Help people) announced it is seeking to mobilize $50 million through an Initial Public Offering on the New York tech stock market NASDAQ. The resources will go for investments in Africa where the company wants to focus on consumer-facing companies. “We intend to focus on consumer-facing companies with a significant African presence or a compelling African...

The G7 development finance institutions approved an investment of more than $80 billion into African businesses over the next five years. The initiative is aimed at supporting the economies hard hit by the Covid-19 pandemic in their recovery process. For these development banks and their partners such as the European Investment Bank and the International Finance Corporation (IFC), the...