The government of Zambia approved a new financing mechanism for cooperatives in the Eastern Province to carry out climate actions. They received a total of $1.7 million in loans for projects aiming at safeguarding the environment, mitigating and adapting to climate change. The strategy aligns with the “Zambia Integrated Forest Landscape Project” which received $32.8 million from...

The continent’s largest development finance institutions have emphasized that a sustained and collaborative approach among development partners to scale up project development activities, will boost the number of bankable projects attracting investor interest and contribute to closing the infrastructure finance gap in Africa. They spoke during a panel event to discuss their organizations’...

FirstRand, one of Africa’s largest financial institutions, secured a new credit line of $20 million to strengthen its private sector financing activity. The Johannesburg Stock Exchange-listed bank plans to deploy innovative lending solutions for its 700,000 clients. The financial institution headed by Alan Pullinger (pictured) will pump 30% of the resources into women-led initiatives....

The government of Zimbabwe, through its ICT department, is designing a new roadmap for the ICT sector for the next ten years. Called “SMART Zimbabwe 2030,” the new plan covers several strategic actions set to give the sector a new breath and make it a growth driver. The government wants to make Zimbabwe a middle-income country by 2030. Speaking on October 16, 2020, at the launch of the...

Roke Telkom announced it has reached a deal with Facebook to launch a new Internet service program called Roke Express Wi-Fi. It aims to provide millions of Ugandans with high-speed Internet access at a lower cost. Roger Sekaziga, Roke Telkom's CEO, said that " The Roke Express Wi-Fi is a more scalable service network that will enable us to increase the number of access points to the internet,...

South African company Omnia Holdings decided to divest its subsidiary Oro Agri as part of its business restructuring program. The unit, which Omnia acquired in 2018, specializes in the production and marketing of fertilizers and crop protection products. Oro Agri operates research and development facilities in South Africa, Brazil, the United States, and Europe. It will be sold to Rovensa, a...

Tunisia’s Arab International Bank (BIAT) is seeking TND100 million ($36.7 million) on the local money market. The operation is not a public offering but a private placement of the bonds. It could be increased to 200 million dinars if investors' appetite is strong. Interested investors have until December 16, 2020, to express their willingness to subscribe to the securities issued. The sum...

The European Union approved the disbursement of €4.2 million (about CFA2.7 billion) to assist the victims of the recent floods that hit Niger "With these emergency funds, the EU is stepping up humanitarian support to the people who have suffered severe flooding. Our humanitarian partners will thus be able to distribute first aid kits and provide shelter to the populations hardest hit by...

U.S. President Donald Trump announced on Twitter he is ready to lift Sudan from the State Sponsors of Terrorism List but the country would first have to pay $335 million to families of U.S. terror victims. The decision is the fruit of negotiations between officials from the two countries, and the Sudanese side agreed to meet the U.S. requirements. The dark side of this resolution is that...

MTN Group is pleased to announce that it has been named the most valuable African brand in the Brand Finance Africa 150 2020 ranking, which ascribes a brand value of US$3,3 billion to MTN. Brand value is the net economic benefit that a brand owner would achieve by licensing the brand in the open market. In its survey, Brand Finance said: “Over the last year, Africa’s largest...