Help is on the way for the global cocoa supply chain, severely threatened by climate change. A new project by the African Development Bank and the International Agroforestry Agency (ICRAF) would bring relief to two Ivorian smallholder cocoa farmers’ communities in Soubre and Vavoua currently grappling with declining yields caused by climate change and worsened by the COVID-19...

Mediterrania Capital Partners, a private equity firm that focuses on SMEs and mid-cap companies in Africa, has sold its remaining 9% interest in the capital of Cash Plus, a Moroccan company active in money transfer activities, prepaid credit cards, and bill payment. “With Mediterrania’s financial and operational support, Cash Plus entered a new era that included a major restructuring plan...

Chad will benefit from $560 million to be provided by the International Monetary Fund to support its economy. In a Jan 27 statement, the Fund announced it has reached a staff-level agreement with the country for this new financing under the extended credit facility (ECF) and extended fund facility (EFF). The disbursement is subject to approval from the IMF executive board. The resources...

The South African government has just launched a fund of R1.2 billion ($79.4 million) to support the tourism industry. According to the authorities, the “Tourism Equity Fund” aims to speed up the sector and increase its weight in the economy (currently estimated at 2.9% of GDP directly and 8.6% indirectly). President Cyril Ramaphosa said the facility will focus on easing the participation of...

A climate resilient project in Zambia supported by the African Development Bank and Climate Investment Funds (CIF) has won the Water ChangeMaker People’s Choice Award-Africa, it was announced at the Climate Adaptation Summit 2021 on 25 January. The Strengthening Climate Resilience in the Kafue Sub-basin Pilot Program for Climate Resilience (SCRiKA), beat two other finalists identified by...

Ethiopia’s initiative to privatize public companies could be hampered by security risks. "In recent months, the conflict between Ethiopia's central government and the leaders of the Tigray region has dominated the news. Although federal government troops have regained control of Tigray, the conflict illustrates potentially serious flaws in Ethiopia's federal system," the Institute of...

Pula, a Kenyan startup that offers digital insurance and agricultural consulting services to farmers, raised a $6 million Series A financing from VC TLcom Capital and US organization Women’s World Banking. “With our latest funding, now is the time to break into new grounds. In our five years since launching, we’ve built strong traction for our products. However, the fact remains that...

On Sunday, January 23, 2021, the member countries of the Economic Community of West African States held their 58th Ordinary Session of the ECOWAS Authority of Heads of State and Government. This virtual meeting saw the establishment of new guidelines regarding the community’s single currency and market. Concerning the single currency (ECO), the ECOWAS communiqué stressed that the deadline for...

The Economic Community of West African States (ECOWAS) announced it will set up an undisclosed revolving fund to secure a total of 240 million doses of Covid-19 vaccine. The information was reported following the 58th Ordinary Session of the ECOWAS Authority of Heads of State and Government. The launch of this fund comes at a time when countries around the world are rushing to get vaccines, with...

The International Monetary Fund (IMF) announced in a Jan 25 statement it will support Guinea-Bissau’s response against the Covid-19 pandemic with $20.4 million. The financing is approved under the Rapid Credit Facility (RCF) put in place to assist countries during the health crisis. The money will help the government meet its urgent balance of payments and fiscal needs; support the...