The African Development Bank has approved $4 million to support economic reforms in Liberia. This financing is, according to the Liberian Minister of Finance, a boost to the government program which aims to achieve macroeconomic stability. AfDB has a portfolio of ongoing projects in Liberia worth over $400 million in various sectors, including infrastructure, agriculture, and energy....

The Emirates Khalifa Fund for Enterprise Development has provided $25 million to help Mozambique create 11,000 jobs for women and youth. The loan deal was signed on 24 February 2020, between the President of the Fund, Hussein Jassim Al-Nowais, and the Mozambican Minister of Economy and Finance, Adriano Afonso...

“Twenty-three years is not a trivial number of years to spend in an institution. You’ve been a pillar of this institution. You’ve done very well.” It is with those words that the Executive Director for Nigeria and São Tomé and Príncipe, Bright Okogu, also Dean of the Board of directors of the African Development Bank, commended the outgoing Senior Vice President, Charles...

A month ago, the UN Food and Agriculture Organization estimated the cost of fighting locust invasion in East Africa at $76 million. Today, estimates have risen to $138 million due to the fast spread of the pests. FAO says it urgently needs the amount to support control actions in the region, especially in the next four months. “The upsurge is threatening people's livelihoods and food...

The growing Coronavirus outbreak is bringing a heavy blow to Kenya Airway’s revenues. The airline could lose about $8 million due to the epidemic, according to Deputy MD Allan Kilavuka. In an interview with The EastAfrican, the official said: “We are looking at lost revenue of about $8 million, both passenger and cargo.” This is the consequence of the shutdown since January 31 of...

Algeria announced yesterday February 25 a first case of Coronavirus, the second on the continent, after that reported in Egypt. “The surveillance and alert system put in place at the national level made it possible to detect two (2) cases matching with the definition of a suspect case (fever, respiratory symptoms and the fact of having traveled to a zone of the Covid-19 coronavirus). The two...

The government of Uganda is seeking to borrow USh550 billion ($150mln) from Chinese Exim Bank to set up digital projects that will improve populations’ lives across the country. The plan was revealed by the ICT Minister, Peter Ogwang, during a ceremony to hand over computers to Agwata Secondary School in Dokolo District on February 22. He said e-learning development is now a priority and the...

In a new fundraising operation yesterday Feb 25, Côte d’Ivoire mobilized CFA60.5 billion on the WAEMU securities market through the issue of 3-month and 6-month treasury bills (BATs). Initial amount sought was CFA55 billion. At the end of this operation, the country received CFA93.6 billion (about $155 million) in bids from investors, representing a 170% coverage rate. This makes about...

Egypt will start manufacturing electric buses in its military production plants by November this year. According to the Minister of Military Production, Mohamed al-Assar, the project is a collaboration between the Egyptian International Marathon United Technologies and the Chinese Foton Motor. A total of 2,000 vehicles will be produced over 4 years, at a rate of 500 a year. The official said his...

South African National Space Agency -SANSA and the US National Aeronautics and Space Administration -NASA have signed a Deep Space Communications Study deal to conduct a number of technical and environmental researches for the potential establishment of a ground station in South Africa. The facility will support future near-Earth and deep space exploration. “Having worked with the South...