CFAO Motors Côte d'Ivoire is back on its feet on the regional stock market BRVM. As of May 7, 2021, the value of its share had risen by 22.2% since January 1, 2021. This would be the first positive year, after declines of 32% and 17.3% in 2019 and 2020 respectively. The company also records a sustained volume of shares traded. Already 220,645 shares have been traded, according to market data...

Ethiopia is overwhelmed by the Tigray clashes, a drought episode, and the Covid-19 pandemic, with growing humanitarian needs. In April 2021, the country received $64 million in aid from the European Union. This time, support is coming from the United Nations. On May 6, the institution announced it is helping Ethiopia with $65 million. Of this sum, $40mln will be used to address...

Kribi Conteneurs Terminal (KCT) received five new yard gantries on 10 May 2021.  With a 50-tonne lifting capacity, the new equipment will further boost the growth in traffic at the Port of Kribi. In 2020, KCT posted a 56.27% increase in handling volumes. The five Konecranes gantries provide KCT with additional handling capacities at the Kribi container terminal. They will optimise the use...

US company SpaceX, which initiated the Starlink project –the satellite constellation intended to bring high speed connectivity across the planet- is negotiating an Internet Service Provider license in Nigeria. On May 7, Ryan Goodnight, Starlink Market Access Director for Africa, met up with Umar Danbatta, Executive Vice-Chairman of the Nigerian Communications Commission, to discuss the...

Elon Musk’s Space X wants to launch to the moon in Q1 2022 a satellite called DOGE-1. The equipment is fully financed by the cryptocurrency Dogecoin. This was revealed yesterday May 10 by Geometric Energy Corporation, the Canadian company that will lead the mission. This mission, “the first-ever commercial lunar payload in history paid entirely with DOGE,” seeks to “obtain...

The International Finance Corporation IFC is mulling over pumping an additional $10 million into African startups. The institution should soon reveal whether or not it will participate in the second TLcom Capital fund dedicated for this purpose. This new fund mainly targets early-stage investments in tech startups in East and West Africa. Particular focus will be on financial technology...

Cryptocurrency Ether (ETH), which operates the Ethereum blockchain reached a new record, jumping above $4,000 this Monday morning. From $3,056 last week, the cryptocurrency is now $4,100. This upward trend that started weeks ago can be linked to the growing interest of big institutions in cryptocurrencies. A report from Coinshares last week revealed that institutional investors...

The Suez Canal Authority has reduced by one-third its compensation claims from the owners of Ever-Given, the container carrier that blocked the waterway for 6 days in March. From $900 million, claims now amount to $600 million. According to Osama Rabie, the President of the Suez Canal Authority, the money will cover losses in transit rights, damages caused during dredging and...

The Tunisian government instructed a new lockdown measure to better handle the third deadly wave of Covid-19. According to information reported last May 7 by PM Hichem Mechidi, all citizens will have to stay home and only go out in cases of strict necessity from May 9 to 16. Movements between regions are banned and there is a curfew from 7 pm to 5 am. The new measure is aimed at helping the...

Sudan has secured a $425 million bridge loan to settle its arrears with the African Development Bank (AfDB). The information was reported by the Ministry of Finance in a May 5 statement. "We no longer have any arrears with the Bank," said Sudanese Finance Minister Jibril Ibrahim, welcoming this new success. The bridge loan was provided by Britain, Sweden, and Ireland. The move is the...