Bank of America has announced plans to mobilize a total of $1 trillion by 2030 to accelerate the transition to a sustainable, low-carbon economy. This new challenge is part of the Bank's broader goal of committing $1.5 trillion to environmental transition, inclusive social development, and sustainable economies worldwide. The plan aligns with the United Nations Sustainable Development...

The South African telecom group is considering opening up its mobile money arm to investors. Ralph Mupita (pictured), MTN Group's CEO, announced the move on April 12 in an interview with Bloomberg. He explained that at valuations similar to Airtel's, MTN's mobile money arm would be worth R75 billion, or about $5 billion. He stressed, however, that no decision has been made yet, but an IPO...

1,300 villages in Egypt will soon be connected to optical fiber. According to the ICT minister, Amr Talaat (pictured), the program is the first phase of the "Decent Life" project. This phase is valued at EGP 5.6 billion ($356.4 million). The official says the government wants to connect a total of 4,584 villages via this project, representing 58% of the total population. The overall investment...

On April 8, Kenya inaugurated its very first firearms manufacturing plant. The launching ceremony took place in the presence of the Head of State himself, Uhuru Kenyatta. The facility is located in the city of Ruiru and has an annual capacity of 12,000 weapons. It will run 60% with local raw materials. The output of this more than $37 million investment will mainly be used to equip the...

South Africa will probably lose its position as Africa’s second-largest economy by GDP. This is per the calculations made by Ecofin Agency based on the estimates issued this month by the International Monetary Fund (IMF). Estimated in US dollar with the current exchange rate, the South African economy is forecasted to generate an added value flow of $329.5 billion this year; making the...

This weekend, bitcoin exceeded $60,000 again and moved closer to its record highs. The cryptocurrency traded at $61,222.22 on Saturday April 10 on the Bitstamp platform, its highest level in nearly a month and a bit less than the $61,781.83 on March 13. The rise comes after more than 15 days of relative stability during which BTC traded at just over $50,000. Analysts believe...

South African banking group Absa Bank announced it will shut down its investment vehicle Absa Money Market Fund (AMMF) in July this year. The company says many of its investors and clients have a wrong idea about the fund’s management and structuring.  “We have therefore decided to close the [fund] as of 6 July 2021 (the closure date), in the best interest of our clients, and given our...

The Independent Communications Authority of South Africa (ICASA) and the Federal Communications Commission (FCC) of the United States signed a virtual memorandum of understanding on Thursday, April 8. The non-binding agreement covers the exchange of ideas in the area of telecommunications regulation and policy. According to Keabetswe Modimoeng (pictured), ICASA's president, “this is a...

As part of the campaign to fight against malaria in Côte d’Ivoire, Bolloré Transport & Logistics is importing, storing and distributing 13 million mosquito nets for UNICEF. Following the success of the campaigns in 2018 and 2019, Bolloré Transport & Logistics Côte d’Ivoire has renewed the process, delivering 418 containers of mosquito nets in Côte d’Ivoire. Since the end of 2020,...

Burkina Faso is pursuing its road modernization plan. This year, the country plans to invest more than CFA105 billion (€160 million) in big road projects. This decision was reported following a meeting of the members of the budget review committee. It involves "Development of the classified road network, urban roads, railway, airport, maritime and cartographic infrastructures." The committee...