The Bank of Tunisia is close to obtaining additional funding of $30 million from the European Bank for Reconstruction and Development (EBRD). This resource will be used to finance the activity of Tunisian import-export companies. With this new contribution, the EBRD claims to have exceeded the trade financing limit for the Bank of Tunisia. The financing was provided under the EBRD's Trade...

Meridian Port Services Ltd (MPS) has relaunched its sea turtle conservation initiative, this is in fulfilment of the company’s Environmental Action Plans for Sea Turtle Conservation and as per the International Finance Corporation (IFC) Performance Standard (PS6) for Biodiversity Conservation and Sustainable Management of Living Natural Resources and the No-Net-Loss commitment. “The...

As part of the fight against covid-19, the African Export-Import Bank (Afreximbank) plans to mobilize $5 billion for African countries. The information was relayed by Reuters, which cited John Nkengasong (pictured), director of the African Centers for Disease Control and Prevention (Africa CDC). According to the official, the funds will be used to finance the purchase of future vaccines...

As countries around the world face challenges in mobilizing resources to deal with Covid-19, the ICRICT (Independent Commission for the Reform of International Taxation) took the opportunity to call again for an acceleration of reforms in the taxation of multinationals. Leonce Ndikumana is one of the pioneers in the fight against Illicit Financial Flows and tax abuses in Africa. Emeritus...

The African Development Bank’s African Natural Resources Centre (ANRC) and the African Legal Support Facility (ALSF) hosted a dialogue on responses by governments and the industry to the COVID-19 pandemic in the extractive sector, focusing on South Africa, Ghana, Nigeria, and Kenya. The session, held 21 October and moderated by ALSF Director Stephen Karingizi (photo), brought...

Last year, the turnover of insurance companies grew by 6.2% reaching TND2.3 billion (about $841,438). According to Tera Finances, which reported the information in a recent study, the increase was driven by the growth of insurance premiums in multi-line insurance companies (+98.2 million dinars) and single-line companies (+40.7 million dinars). Non-life insurance premiums increased by...

Zimbabwe will welcome a new stock exchange called the Victoria Falls Stock Exchange by the end of October 2020. The securities exchangeable on this exchange will be made only in foreign currencies, local media said. This new marketplace will be a subsidiary of the Zimbabwe Stock Exchange. The announced Zimbabwean Stock Exchange is expected to attract foreign capital and investors to the country....

Morocco’s Banque Centrale Populaire said it is mulling over selling a stake to an East Asian banking institution to strengthen its capital. The information was relayed by Bloomberg, which cited a source close to the matter. The partnership project, which is subject to shareholders’ approval, is part of the Moroccan bank’s strategic development plan for the next five years. BCP said once...

Benin’s Internet Service Provider Isocel has received a loan of €6 million from French public investment bank Bpifrance to expand its network. With this investment, the telecom company will extend its fiber-optic network over 500 km in the greater Cotonou area. Currently, the company has only a 90 km network in the city. The ISP has opted for the construction of an aerial infrastructure...

Vodacom announces a 320 million rand ($19.5 million) package to fund the development of high-speed Internet connectivity in urban and rural areas in KwaZulu-Natal. Investment in fiber optics is also planned. More than 50 new telecom base stations will be deployed throughout the province and in southeastern South Africa by the operator; 27 are already active and 19 are expected to be installed in...