The European Union announced last week an additional support of €500 million in favor of the WHO-led Covax initiative. This brings to €1 billion EU’s total commitment to the scheme. The amount consists of €300 million in EU grant and €200 million in guarantees from the European Fund for Sustainable Development plus (EFSD+) that will back a loan by the European...

The OPEC Fund for International Development (OFID) approved last week the disbursement of $50 million to support the Tanzanian government in the fight against poverty. This financing deal will back the country's fourth poverty reduction project, which aims to boost opportunities for more than 900,000 people through the improvement of access to clean water, education, and healthcare. The...

The World Bank announced new support for Ethiopia's digital transformation. The institution is currently working on a new project called Digital Ethiopia Foundations, under which it plans to invest about $200 million to support the country’s digital economy. The announcement was recently made by Ousmane Dione, the World Bank's Country Director for Eritrea, Ethiopia, Southern Sudan, and...

Terminal 3 of MPS (Meridian Port Services Limited) in Ghana is the backbone of the maritime service between Africa and South America. The container terminal at the port of Tema enables the CMA CGM and MSC ship owners to connect Africa with the South American market. MSC benefits from a berthing window on the MPS docks for its connections between Africa and South America. Meanwhile, CMA CGM...

Kenyan logistics platform Amitruck will obtain an undisclosed pre-seed investment as part of an operation led by two U.S. companies, Dynamo Ventures, and Plug and Play Ventures. “Amitruck is facing increasing demand and we need to expand our platform. We have added several very large accounts including Jumia, Kenya’s largest e-commerce player,” said CEO Mark Mwangi (pictured). The company...

Côte d’Ivoire is expecting €1 billion from the European Union to improve the sustainability of its cocoa industry. Jobst Von Kirchmann, the EU Ambassador in the country, said the loan will be provided under the “Team Europe” initiative set up by the institution to assist its member countries. The resources, which is expected to come from all 27 EU member states as well as financial...

The Libyan Interior Minister Fathi Bachagha (pictured), from the Government of National Accord, escaped an assassination attempt yesterday February 21. "GNA Interior Minister Fathi Bachagha was the target of an assassination attempt on Sunday at 3 p.m. as he was returning to his residence in Janzur," an official statement by the ministry revealed. According to the available information, the...

Algerian President Abdelmadjid Tebboune (pictured) yesterday made some changes in the government after he recently expressed dissatisfaction with the cabinet of the Prime Minister. In his reshuffle move, Tebboune kept Abdelaziz Djerad as PM but changed the Ministers of Industry (Farhat Aït Ali), Water Resources (Arezki Barraki), Tourism (Mohamed Hamidou), Environment (Nassira Bengarrats),...

Itissalat al-Maghrib, the Moroccan leader in telecommunications and the sixth-largest listed company in Africa by market value, tried to reassure its investors after a year 2020 with rather mixed performance. "Over the year 2020, Maroc Telecom group posted operating results in line with targets," the company said in a statement today. The group says thanks to continuous efforts to control costs...

UK-based end-to-end Insurance solutions delivery firm, Linkham Group, will acquire a majority stake in Kenya-based Resolution Insurance. The company agreed to purchase the 100% interest held in Resolution Insurance by LeapFrog Investments for an undisclosed amount.   “We look forward to benefiting from Linkham Group’s international experience to streamline the services of the...