The World Health Organization (WHO) said on September 19 it will grant support to traditional medicine practitioners in the fight against the coronavirus pandemic. A committee of experts from the UN agency, the African Center for Disease Control and Prevention, and the Department of Social Affairs of the African Union have approved a "protocol for phase III clinical trials of herbal medicine for...

Within five years, 5G technology will be one of the major consumers of cobalt, with demand expected to grow from 45,000 t this year to 73,000 t in 2025. According to several analyses relayed by Reuters, 5G could become the leading consumer of cobalt over the years, exceeding the electric vehicle sector which currently holds the largest share in the market. 5G station antennas require more...

The Central Bank of West African States (BCEAO) made a new liquidity injection for its member countries last week. A total of CFA3,350 billion (about $ 6 billion) was disbursed by the institution. During the auction held on 14 September, 87 banks in the sub-region obtained a liquidity injection at a fixed rate of 2%. With more than CFA1,000 billion ($ 1.8 billion), Côte d'Ivoire secured...

Funds transferred ($472.5 million) from the United States to Zambia between 2007 and 2017 are suspected to be the proceeds of bank fraud, according to revelations made on September 20, 2020, by the International Consortium of Investigative Journalists (ICIJ). The information, which cites leaked documents from FinCEN, the U.S-based Financial Crimes Enforcement Network, indicates that the bulk of...

Vivo Energy, a group focused on the distribution of petroleum products in Africa, will issue next September 24, a $350 million bond on the international capital market. The loan will have a 7-year maturity with an interest rate of 5.125%. The current pandemic has strongly affected oil distribution across Africa. Fuel sales have declined in several markets in the region, particularly in the...

The Ivorian ministry of transport revealed in a press released on September 18 that the transport sector has lost a total of CFA111 billion ($200 million) due to the coronavirus pandemic. “Initiated since June 2020, this study has focused on operating losses including turnover, fixed costs, and incompressible fixed costs as well as mandatory salaries to be financed,” explains the...

In Algeria, the education ministry instructed mobile operators Djezzy, Mobilis, and Ooredoo to restrict Internet access across the national territory during the baccalaureate exams which took place last September 13-17. The objective was to avoid cheating among students. This measure, considered effective by the authorities, was, however, highly criticized by consumers who denounced an obstacle...

The Republic of Congo has received a total of $540 million from various banks to boost its economic recovery. An announcement was made last weekend by Henri-Claude Oyima (pictured), CEO of BGFIBank, one of the lenders. While details of the operation have not yet been released, the manager said it will be used primarily to stimulate economic activity in the country. The money will help clear...

The Board of Directors of the African Development Bank on Wednesday approved a $500,000 emergency assistance grant to support international recovery efforts after a significant oil spill earlier this year off the coast of Mauritius. The funding, to be sourced from the Special Relief Fund, will complement ongoing activities by the government of Mauritius, development partners, and other...

Naspers Foundry, the venture capital subsidiary of the South African group Naspers, has concluded its third deal with an undisclosed investment in Food Supply Network (FSN), a food systems integrator. The subsidiary was launched in October 2018 with a fund of 1.4 billion rand ($85.2 million) and has already invested in two projects for a total of 130 million rand. “We’re extremely excited...