Egypt will buy $197 million worth of arms from the United States. In a statement issued on February 16th, the U.S. Defense Security Cooperation Agency (DSCA) announced that the sale agreement has already been approved by the U.S. State Department. The new contract covers the purchase of 168 RIM-116C Rolling Airframe Missiles Block 2 and the shipping and storage containers for the RAM Guided...

African countries will have to repay nearly $100 billion in Eurobonds between 2021 and 2032, according to data published yesterday by the Institute of International Finance (IIF), a Washington-based organization that brings together the world's central banks and major financial groups. IIF experts explain that this situation is the result of high issues in recent years" ($147 billion over...

The United Nations High Commissioner for Refugees (UNHCR) announced in a Feb 17th statement it wants to mobilize $222.6 million to support its humanitarian action for Burundian refugees. According to the organization, the funds will be used to finance the 2021 Burundi Regional Refugee Response Plan, as well as the Joint Refugee Return and Reintegration Plan. The First step will be to...

Burundi and Tanzania revealed plan to raise $1.9 billion to build a railway linking the two countries. Dieudonné Dukundane, Executive Secretary of the Central Corridor Transit Transport Facilitation Agency (CCTTFA), said the infrastructure is a 190 km line that will link the Burundian city of Musongati to that of Isaka in Tanzania. The objective for the Burundian authorities is to...

Pasabahce Egypt, the subsidiary of Turkish glassware and glass packaging producer, Sisecam is eligible for a $30 million financing from the International Finance Corporation (IFC), the private sector arm of the World Bank Group in emerging countries. The facility consists of a long-term loan of up to $20 million and a short-term credit of $10 million. “This project with our...

As part of its solidarity actions in favour of young people, Bolloré Transport & Logistics in Sierra Leone made financial, material and food donations on 29 January 2021 to the Don Bosco association, which works for the safety and development of vulnerable children. The company is thus supporting the 180 children of the Don Bosco camp in During Town. These are children who have been abused and...

Sub-Saharan African countries eligible for the G20 debt moratorium are paying close attention to the ongoing discussions Ethiopia, Chad and Zambia are having with this group. Zambian Finance Minister, Bwalya Ng'andu, whose country is facing fragility due to its external debt, confirmed on February 5th, 2021 that negotiations had begun to leverage the G20's common debt framework. The group has...

The Regional Education Finance Fund for Africa (REFFA), managed by the impact investment management company, BlueOrchard Finance has granted a $3 million loan to Fidelis Finance, a West African financial institution to support education structures in West Africa. Deployed in December 2020, the financing was made public on February 17th. Fidelis plans to use this financial assistance to...

African countries need to make more efforts to achieve the digitalization process of financial services according to a finding by FinAfrique, a financial sector analysis firm focused on Africa. A survey conducted by the firm on 289 banks and 225 insurance companies in 21 African countries showed that almost all these companies have websites and offer online services. However, the next stage of...

The Somali government in collaboration with the UN has launched a Humanitarian Response Plan (HRP) in Somalia. A joint appeal was launched to donors to raise $1.09 billion for this purpose. According to humanitarian coordinator, Adam Abdelmoula who made the announcement on February 15th, the UN support seeks to ensure availability and access to basic services such as food, shelter, and...