Tanzania will benefit from a $500 million financing granted by the World Bank, the institution announced in a statement. The money will be directed toward the secondary education quality improvement program (SEQUIP) which aims to build more schools in the country, improve the quality of education given to students and send more children to school. The project targets more than 6.5...

The new projections for the world economy, which is currently going through a difficult time, raise fears that the profitability of commercial banks operating in Africa could be at risk in the year 2020. In its rating of African banks published on 9 December 2019, the rating agency Moody's downgraded its outlook for the sector from “stable” to “negative.” Moody’s forecast a timid...

The Ivorian government has mobilized an additional CFA28 billion (about $46 million) to help the health ministry in the fight against the novel coronavirus pandemic. According to the Director-General of the National Institute of Public Hygiene (INHP), Joseph Benié Vroh Bi (pictured) who reported the news, the resources served for the purchase of drugs, inputs and protection equipment. In...

Equatorial Guinea's Telecom Infrastructure Manager (GITGE) announced it will strengthen Internet speed in the country to support the combat against the coronavirus. Under this strategy, GITGE will provide an Internet speed of 100 Mbps to the research laboratory of the Institute of Public Health Investigations in the Baney district of Bioko Norte province, and the Sampaka hospital. These two...

MSC Mediterranean Shipping Company’s new “Suspension of Transit” (SOT) programme is a flexible cargo service that will help to fulfil the imminent resumption of demand from Asia and ensure service continuity. It includes container yard storage in six transshipment hubs across Asia, the Middle East, Europe and the Americas, ensuring that goods can be shipped close to their destinations as...

Vice-president of the African Securities Exchanges Association (ASEA) since November 2018, Dr Edoh Kossi AMENOUNVE becomes the new President of the Association, as, Mr. Karim HAJJI, former President of ASEA, retired on 31st, March 2020 and left his position as Chief Executive Officer of the Casablanca Stock Exchange. Dr Edoh Kossi AMENOUNVE will chair the Executive Committee of the Association...

The Central Bank of Ghana (BoG) has postponed the implementation of the minimum capital requirement for electronic payment service providers to 31 December 2020. The measure, which was scheduled for 30 June at the latest, was reviewed due to the impacts of the current Covid-19 on economies and investments. For Mobile Money service providers, for example, the minimum capital requirement was...

The World Bank announced Wednesday it will disburse $133 million to improve the delivery of essential public services in Mauritania. The amount will be provided in three installments dedicated to different projects. First, Mauritania will receive $66 million from the International Development Association (IDA) to increase access to basic infrastructure and services for refugees and...

Kenyan fruits and vegetable delivery platform Twiga Foods has secured a loan of $5 million from the US International Development Finance Corporation (DFC). The announcement was made by the American institution yesterday March 31 on its website. Twiga will use the amount to buy additional transportation and cold storage equipment to improve market supply. The company sources from more than...

Ralph Mupita, Head of MTN Group, announced the company plans to sell 15% of its stake in MTN Nigeria. If the operation is completed, MTN will hold 64% in the subsidiary. In an interview with Bloomberg, Mr. Mupita said the move is part of the Asset Realization Program (ARP) - launched by MTN Group in March 2019- to simplify portfolio, reduce debt and risk, improve general returns and also realize...