The World Bank agreed to grant Nigeria a $1.5 billion package to support the country’s post-Covid 19 recovery. In a Dec 15 statement, the institution said $750 million will go for the Nigeria Covid-19 Action Recovery and Economic Stimulus -Nigeria CARES- to increase access to social transfers and basic services for poor people while providing subsidies to poor and vulnerable...

Hikma Pharmaceuticals obtained $200 million from the International Finance Corporation IFC to improve its drug distribution service in the MENA region. This credit line includes a loan of up to $150 million from the IFC's account and a trust loan of up to $50 million from foreign investors interested in increasing their exposure to emerging markets. It will be used to meet...

The European Union said it has approved €9.9 million to help protect wetlands in West Africa. The resources will be injected in a project jointly deployed by the Forestry Development Authority (FDA) and Wetlands International Africa (WIA). The initiative is designed to raise people’s awareness of the crucial role mangroves play in keeping the environment healthy; they absorb 50% of...

South Africa’s ministry of communications and digital technologies announced it has initiated the merger of many of its entities, as part of the rationalization plan started last year to cut state expenditures and focus on socio-economic development. According to the department, entities on the agenda include Sentech (the leading public provider of electronic communications network services to...

Vodafone, in partnership with AST SpaceMobile, the only company to have built the world's first broadband cellular network in space, announces the launch of the first phase of its space-based mobile communications service in Africa in 2023. The British telecoms group unveiled on Wednesday 16 December that this technology will allow people to access communications directly, regardless of where...

The shareholders of insurance group Jubilee Holdings approved on Dec 15 the sale of a majority stake between 51% and 66% in the group’s five African subsidiaries. The transaction covers Jubilee's short-term general insurance businesses in Kenya, Tanzania, and Uganda and also the short-term general and medical insurance segments in Burundi and Mauritius. These shares were acquired by the...

Nigeria’s President Muhammadu Buhari ordered yesterday Dec 16 the immediate reopening of land borders with Benin, Niger, and Cameroon. “President Buhari has directed the immediate opening of four land borders: Seme, Illela, Maigatari, and Mfun,” an official tweet by the Presidency indicated. This announcement comes as an end to more than a year of trade tensions between Buhari’s country...

Bolloré Logistics is gearing up with the various stakeholders for the upcoming distribution of Covid-19 vaccines in low- and middle-income countries. The company is particularly committed to providing the appropriate distribution solutions from vaccine production and distribution centres around the world to the destination medical centres, through a global network of assets and partners able to...

An economist and development expert, Aissa Touré, the Country Manager designated for Rwanda, a Senegalese national, brings to the Bank over 25 years of experience, working in three continents and 12 countries for 5 international organizations. Aissa’s work experience covers rural development, particularly agriculture, rural economics and climate adaptation and mitigation, among others. She...

The African Development Bank is pleased to announce the appointment of Mr. Simon MIZRAHI as Acting Director, Communication and External Relations Department (PCER), effective 16 December 2020. Simon is a British national who joined the Bank on the 10th of May 2009, as Head of Results Management Division. Before joining the African Development Bank, he worked for the Organisation for...