InfraCo Africa, a company that raises investments for infrastructure projects in sub-Saharan Africa, commits $7.5 million for the Liberia Inland Storage Facility (LISF) project. With this financing, the UK-registered company becomes LISF’s majority shareholder. In partnership with the British Global Logistics Services (Group GLS), InfraCo Africa will fund the construction of modern...

Morocco received on April 7, 2020, an amount of $2.97 billion from the International Monetary Fund (IMF) to limit the social and economic impact of the covid-19 pandemic. The fund will also be used to maintain an adequate level of official reserves to ease the tensions on the balance of payments, according to the IMF. This financing is not within the framework of the $50 billion...

The African Development Bank Group on Wednesday announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic. The Facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution's primary channel for its efforts to address the crisis. It provides up to $10 billion to governments and the private...

The South African government has plans to help small-scale farmers face the impact of coronavirus on their activity. According to Thoko Didiza, the minister of agriculture, the money will assist the most vulnerable producers. Farmers who qualify for assistance would need to prove their South African citizenship, have been engaged in farming for a minimum of 12 months and be registered in the...

Sub-Saharan Africa remains the region of the world where Mobile Money activity is the most dynamic. Last year, the region recorded 23.8 billion transactions out of 37.1 billion worldwide, according to the World Association of Telephone Operators (GSMA). This represents 64.15% of the global transaction volume, up 19.7% YoY. This part of Africa also dominated the global Mobile Money market in...

Tech company Comviva, which specializes in providing value-added services for mobile operators, will help Free Senegal improve and enhance the technical capabilities of its mobile money service -Free Money. Both companies team up to deploy the mobiquity Money platform developed by Comviva, in response to the growing financial traffic generated by Covid-19. With the alarming spread of the...

The Central Bank of Nigeria has made a slight adjustment in the value of the naira against other international currencies, particularly the US dollar, which is the most used currency for foreign trade. Since August 22, 2016, 1 dollar was 305 naira, but on March 20, 2020, the dollar was worth 360 naira. The Central Bank has also allowed the US dollar to be officially sold on the open foreign...

Kenya’s economic growth is expected at 3% this year, half the 6.1% initially forecasted by authorities. The information was reported by the finance minister, Ukur Yatani (pictured). Last year’s growth was 5.9%, down 6.5% in 2018. While the slowdown was due to bad weather conditions last year, this year, it is the result of the novel coronavirus pandemic which has affected the whole...

The government of Uganda urges farmers to plant despite the risks that locust swarms pose to crops, Bloomberg reports. For Vincent Ssempijja, the Minister of Agriculture, this is crucial to take advantage of recent rains and avert a possible food crisis. The measure comes at a time when the fight against insect pests is being slowed down due to the spread of the coronavirus. According to the...

US company Airbnb raised 1 billion from private equity firms Silver Lake and Sixth Street Partners to cushion the impacts of the current coronavirus pandemic on the company’s activities. The details of this transaction were not disclosed but the amount is constituted of an equity contribution and loans. The investment will make it possible to compensate certain members of Airbnb’s platform...