The International Telecommunication Union (ITU) and the UN Children’s Fund (UNICEF) have Selected Rwanda as a test land in Africa for the Giga initiative, which aims to provide internet connectivity to schools across the world. The information was given on June 5 by Doreen Bogdan-Martin, Director of ITU’s telecoms development bureau. According to her, Rwanda was selected regarding its ICT...

Liberia will benefit from SDR36.17 million ($50 million) approved by the International Monetary Fund on June 5 under the Rapid Credit facility signed with the country. The resources will be used to meet the urgent balance of payment needs ($150 million, 51% of the GDP) and the urgent budget needs stemming from the coronavirus pandemic. In addition to the health crisis caused by the pandemic, the...

Conakry Terminal, a subsidiary of Bolloré Ports and operator of the container terminal at the Port of Conakry, officially commissioned the Kagbelen inland container depot located in the municipality of Dubréka, 35 km from the Guinean capital. Covering a surface area of 30 hectares, the Kagbelen inland container depot has a specially laid out 5-hectare area with a storage capacity of 2,000...

Pursuant to a settlement agreement, the African Development Bank Group on 8 June 2020, announces the debarment of Burmeister & Wain Scandinavian Contractor, for a period of 21 months, for engaging in sanctionable practices in a power generation project financed by the Bank in Mauritius. In 2014 and 2015, Burmeister & Wain participated in tenders for the redevelopment of the Saint Louis power...

Following the adoption of new measures, the European Union added Mauritius to its blacklist on money laundering and terrorist financing. In a press release issued on Tuesday 2 June, the office of the Prime Minister of Mauritius, Pravind Jugnauth, expressed its indignation at seeing the archipelago appear on the European Union's (EU) blacklist, which identifies third countries whose anti-money...

Over the first three months of 2020, the value of shares issued on the financial markets of sub-Saharan Africa fell by 32%. However, for the banks that arranged these transactions, their commissions soared by 216%. According to data collected by Reuters, the overall value of equity issues made in the first quarter of 2020 in the financial markets of sub-Saharan Africa reached $727.8...

Kenya Revenue Authority (KRA) announced the introduction of digital content taxes, meaning the downloading of software, podcasts, videos, etc., will soon be paid for in the country. KRA says the measure is to offset some of the losses due to Covid-19. If it is adopted, Internet access will in some ways become more expensive. In the interests of transparency, the Kenya Revenue Authority has...

The government of Benin announced the creation of a financial services quality observatory. The mission of this observatory will be to enhance the attractiveness of the sector to increase the use of formal financial services by SMEs and individuals. The strategy aligns with the government's plan to improve financial inclusion and the business environment in the country. In concrete terms, the...

The International Monetary Fund approved the disbursement of $143 million to help Sierra Leone better and swiftly respond to the economic, health, and social challenges stemming from the coronavirus pandemic. The financing will be used to meet the urgent balance of payments and public finance needs arising from the pandemic while financing increased health spending and social protection for...

Bolloré Transport & Logistics is announcing the opening of an agency in Kalemie in the Democratic Republic of the Congo (DRC). The new site, located in the province of Tanganyika, strengthens the network of the leading logistics operator in Africa. The opening of the new agency provides a logistics solution to the humanitarian organisations based in the region. It will also contribute via...