More than 80% of people who tested positive to Covid-19 in Africa show no symptoms of the disease, according to a statement issued on September 24 by the World Health Organization (WHO). The situation contrasts sharply with other continents and is, according to WHO, attributable to several socio-environmental factors. WHO says Africa enjoys a relatively young population compared to other regions...

Nigeria’s President, Muhammadu Buhari, has just sent the oil reform bill to the Senate. The document provides for the privatization of the national oil company (NNPC), amendment of deepwater royalties, and the removal of key regulatory agencies in favor of new institutions. This way, the NNPC will become a limited liability company. The government would then pay cash for the shares of the...

The government of Egypt unveiled plans to modernize and expand the Suez Canal during the FY2020-21. According to the Planning and Economic Development Minister Hala El-Said (pictured), the project is valued at EGP16.9 billion ($1 billion). Works will include the completion of the construction of four tunnels under the canal; two in the governorate of Port Said and two in the governorate of...

The World Business Angels Investment Forum today announced the African Development Bank as its newest Board Member. In this capacity the Bank will represent Africa’s early-stage equity markets, entrepreneurship and startup ecosystems, small and medium enterprises and high-growth businesses, angel investors, and private equity funds. Abdu Mukhtar, the Bank’s Director of Industrial and Trade...

Sustainable economic growth requires an interplay between all domains of a country’s structural organisation – that is, its politics, its economics, and its society. Government and regulatory policy need to take account of all of these domains for it to be optimal. However, in several important areas, these interconnections are not accounted for – this is particularly true when looking at...

On September 29, 2020, the National Regulatory Authorities (NRAs) of the telecom sector of the member countries of the Economic Community of West African States (ECOWAS) will validate the action plan for the effective rollout of the free-roaming project by March 31, 2021. This was the resolution taken last week. At the virtual meeting organized on September 15, 2020, to review progress made in...

Billionaire Jack Ma who founded the e-commerce platform Alibaba has just been displaced as the richest man in China by a bottled water vendor who goes by the name Zhong Shanshan (pictured). His company Nongfu Spring, in which he holds a fifth share, is China's leading water seller with a 21% market share. The company also sells tea. Recently, the company opened its capital and made an IPO on...

Attijariwafa Bank, Morocco’s leading banking group by market capitalization and volume of transaction, posted a consolidated net profit of MAD1.6 billion ($171.3 million) for the first half this year. Compared to the same period in 2019, this figure is down 54.3%. Excluding the share of minority shareholders in all of its subsidiaries, the bank’s net profit over the period reviewed is MAD1.2...

Kenya announced the upcoming launch of a credit guarantee facility worth $92 million for businesses across the country. The new scheme mainly targets micro, small, and medium enterprises, which significantly contribute to the economy. It is expected to be operational from October 2020. The government wants to ease recovery after the pandemic that has shattered the economy and affected...

Africa CEO Forum and Deloitte have just released the second edition of the Africa CEOs Survey, a ranking of the most attractive countries for investments on the continent. Côte d’Ivoire comes first in this ranking, ahead of Kenya, Ghana, Senegal, and Rwanda (in that order). The second half of the Top 10 is respectively occupied by Ethiopia, Nigeria, Morocco, DR Congo, and South...