The U.S. asked the Egyptian government to ban China’s involvement in the deployment of a 5G network in the country. The information was relayed by middleeastmonitor.com, according to which the US government has also urged Cairo’s authorities to join its Clean Network program to obtain this technology from "reliable partners.” The Clean Network initiative is the Trump Administration's...

The Egyptian President Abdel Fattah al-Sissi urged Prime Minister Mostafa Madbouly and ICT Minister Amr Talaat to immediately begin the “Digital Egypt" initiative. The latter aims to boost government efficiency. The three officials met on October 25 to discuss the level of implementation of "national projects related to the communications and information technology sector," according to the...

In a recent statement, the International Monetary Fund estimated Rwanda’s budget deficit for FY2020-21 at 8.5% of GDP. According to the document, the decline is forecasted despite a sharp increase in revenues driven by a second IMF emergency financing under the Rapid Credit Facility (RCF). IMF says the increase in revenue is being swallowed up by increased expenditures, including those...

AXIAN commits to the African Development Partners III (ADP III) investment fund managed by Development Partners International (DPI). DPI is one of the leading private equity firms devoted to and investing across Africa.   AXIAN JOINS ADP III DPI has invested in 23 companies across 29 African countries, building on its investment expertise and network that has yielded a strong performance...

The African Legal Support Facility (the ALSF), is pleased to announce the appointment of Christine Anyango Agimba and Ambassador Arve Ofstad to its management board. The two new members bring a wealth of experience in international policy, international trade, judicial reform and economic development. Agimba, a Kenyan national and current Deputy Solicitor General State Law Office and Department...

The Commonwealth Development Corporation (CDC), the UK government’s sovereign wealth fund for developing countries, announced an additional $40 million investment in Liquid Telecom, a Johannesburg-based telecom company founded by Zimbabwean billionaire Strive Masiwiya. This investment is part of a larger transaction that has already enabled the company to raise $307 million through a...

The Zimbabwe Stock Exchange had the best performance of African stock market indices over the first nine months of 2020, according to a consolidated report by the African Markets platform. Zimbabwe All-Share Index, the main index of this financial market, grew by 612% over the period under review when the values are taken in local currency. When securities are taken in dollar and euro, the ZSE...

This week, Moussa Faki Mahamat (pictured) the President of the AU Commission reaffirmed his position regarding sanctions imposed on Zimbabwe. In a statement issued on October 25, he called for the immediate and unconditional removal of the sanctions against the country. “The Chairperson of the AU Commission reaffirms the African Union’s continued demand for the immediate and unconditional...

The Board of Directors of Telecel Group is pleased to announce that Ramzi Shalak has been appointed as Chief Executive Officer effective October 2020. As a leading B2B/B2G provider, Telecel Global Services provides Voice, Data, SMS, SMS Firewall and integrated Cyber Security solutions serving Network Operators, OTT’s and Wholesale Carriers with a global footprint. “I am excited to be...

The African Guarantee and Economic Cooperation Fund (FAGACE) is launching a call for tenders for the selection of two auditing firms for the financial years 2021, 2022 and 2023. This call for tenders is launched as of October 23rd, 2020 for the selection of two firms specializing in statutory auditing. Firms of international renown specialized in auditing, established or having a representation...