The International Finance Corporation (IFC) could provide 20% of the $100 million needed by the South African Greenpoint for its fund centered on Southern Africa. The deal would make IFC the new subscriber to the Greenpoint Capital Special Situations Credit Fund. The vehicle, which covers southern Africa, will focus more on South Africa, Greenpoint's home country. It will make equity...

South Africa will resume the rollout of the Johnson & and Johnson vaccine from April 28. The information was reported today April 26 by the Health Minister, Zweli Mkhize (pictured). The decision came out after the minister discussed with his cabinet and the South African Health Products Regulatory Authority (SAHPRA). The official says his department has on hand all the doses it needs to complete...

Southern African countries are all mulling over developing a common digital migration strategy. From April 27 to 29, they will conduct a virtual workshop on the sidelines of the 41st annual conference of the Southern African Telecommunications Association (SATA) under the theme "ICT Connectivity and Service Delivery for the Benefit of All: Transforming our Society through Broadband and ICT...

South African internet group Naspers co-invested, via its subsidiary Prosus Ventures, a total of $80 million in the capital of the European mobile brokerage company Bux. The other co-investor is Chinese Tencent, an Internet-based platform company. The beneficiary aims to become the first European mobile broker and seeks to enter new markets in the region.  “Younger generations in...

MTN Group is battling with a consortium of telecom operators led by Safaricom, the Kenyan dealer of South African Vodacom, to obtain a new telecom license in Ethiopia. Early this morning, Safaricom, the second-largest telecoms company in Africa, reported that its consortium included, besides Vodacom, the UK-based parent company Vodafone, and also institutional investors such as the Commonwealth...

Clashes broke out on April 25 in Mogadishu, the capital of Somalia, between several armed fighters as the term of President Farmaajo was extended by the Parliament. Media reports said gunfire was heard late into the night yesterday and several witnesses reported scenes of burning vehicles and tense standoffs in the downtown. The fighting is between the special forces of the Somali Federal Army,...

Ethiopia reached an agreement with the World Bank to receive $904 million. The money will support the country’s post-pandemic economic recovery. According to official reports, the disbursement will be made in three tranches. $200 million will come as stimulus financing for small businesses and SMEs that have suffered the pandemic the most. $500 million will improve access to...

Kenya’s president, Uhuru Kenyatta, during his three-day visit to the Democratic Republic of Congo (DRC) saw the signing of an agreement between both countries. The agreement covers areas in trade, transport, and security. “As we move towards deeper integration not only of our region but continent, we should be able to ease the restrictions in terms of visas and other issues, and I look...

The Boards of Directors of the African Development Bank Group on Friday approved a proposal for the clearance of about $413 million in arrears on loans owed by Sudan to the institution, marking a major milestone in the country’s re-engagement with international financial institutions and the global economy. The proposal enables the Bank to proceed with clearing Sudan’s arrears with the...

The European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development (the OPEC Fund), the African Development Bank (AfDB), the Green Climate Fund (GCF) and Arab Bank today signed a US$ 114 million financing package with ACWA Power for the construction of the largest private solar plant in Egypt. The development of the Kom Ombo solar plant will add 200 MW of...