The Tunisian government says it will pump a total of TND324 million (about $120 million) in the agriculture sector next year. This is 18% of the TND1.78 billion that will be allocated to the department of Agriculture, Water Resources and Fisheries for the year. According to Akissa Bahri (pictured) who heads this department, the 2021 agricultural subsidy is 17% higher than that of 2020. With...

Citizens from 15 African countries will now have to pay a visa bond ranging between $5,000 to $15,000 in addition to visa fees to travel to the US, the Trump administration announced on November 23. To justify this highly criticized decision, the US Department of State says it is only imposed on countries whose outstay rate exceeds 10% of travelers. As a reminder, the US administration...

AXIAN Group announces the appointment of Benjamin Memmi as Managing Director of the group’s energy cluster: Let’s Renew Energy, paving the way for Axian’s energy subsidiaries to pursue their growth. The AXIAN Group announce the official appointment of Benjamin Memmi as Managing Director of the energy cluster of the Group; Let’s Renew Energy, this Wednesday 25th November 2020. Having...

The International Finance Corporation (IFC) is considering a financing proposal of up to $150 million for Absa Bank, South Africa's third-largest bank by assets. The money will serve for green investments and will be used to finance projects and companies that have a positive impact on the environment and the climate. Particular focus will be on renewable energy and biomass projects. The...

Moroccan real estate company Aradei Capital has obtained regulator AMMC’s approval for an initial public offering through a capital increase. The company will issue 1.2 million shares at MAD400 each. It will also proceed to the transfer of 250,000 shares at MAD400 per share. Aradei Capital, owned 49.6% by Label'Vie group, hopes to mobilize MAD 600 million ($65.8 million) at the end of the...

The Zimbabwe Post and Telecommunications Regulatory Authority (Potraz) announces the signing last week of a contract with Global Voice Group (GVG) - a global provider of digital solutions - to implement a telecommunications traffic monitoring and revenue assurance system (TTMS). The electronic solution will allow independent monitoring and accounting of national and international telecom...

Yemi Osinbajo (pictured), Vice President of Nigeria, announced yesterday the government will now only buy locally assembled cars to support the automotive industry. The official says the government will adopt a policy in that regard to further support its decision to reduce the number of used vehicles in its fleet. However, because of the high cost of transport, due in particular to the removal...

The Ivorian transport minister Amadou Koné (pictured) announced the major projects underway in the Transport sector in Côte d'Ivoire will continue, and be intensified in 2021. He said this while presenting his department’s 2021 budget before the parliament last Nov 20. The official estimates the 2021 budget of his department at a total of CFA57.605 billion (€88 million) to be invested in...

International tax avoidance makes countries lose over $427 billion in tax revenues every year, a report by Tax Justice Network in collaboration with partners including Global Alliance for Tax Justice and Public Services International revealed. The state of tax justice 2020 found that, of the amount lost in tax evasion, $245 billion represents profits transferred to tax havens by...

Many large commercial banks in Kenya have announced they have cut the amount of credit granted through mobile phones. Kenya Commercial Bank, one of the largest banking institutions in the East African country, says it has reduced the volume of credit it provides through this channel from KSh10 billion to KSh5 billion. Equity Group for its part has decided to lend only to those who own a bank...