The United Arab Emirates vows $500 million to support digital economy transformation in Africa. The good news was announced last week by Reem al Hashemy (pictured), the Emirati Minister of State for International Cooperation. The agreement aligns with the "UAE's consortium for Africa," an initiative that aims to improve human capital across the continent through the private sector....

The port of Maputo, the largest in Mozambique, continues to improve its operational performance. In 2019, the platform handled 21 million tons of cargo, setting a new record after the 19.5 million tons in 2018. According to the port's management, this 8% growth was mainly driven by the processing of higher volume of chromium, and the increase in the number of containers and volume of magnetite....

US satellite operator Viasat is exploring expansion opportunities in Nigeria. A delegation of the company was received in audience on 10 February 2020 by the Nigerian Communications Commission (NCC) in Abuja. This is the second meeting, after the one held on 4 March 2019, that the company is holding in Nigeria as part of its plans to open up to the world market. Augustine Nwalunne, Head of...

Pan-African lender Ecobank has signed a partnership agreement with Alibaba’s payment  platform, Alipay.  The partnership will ease instant transfers between the users of the two groups’ payment platforms, Rapidtransfer and Alipay. In addition, the move should diversify Ecobank’s offers, reduce transaction costs, and boost the quality of the group’s...

In a first fundraising on the WAMU securities market this year, Niger successfully raised a total of CFA31.4 billion. Compared to the initial target of CAF15 billion, this makes a subscription rate of 209.4%. Of this amount, the country only cashed CFA16.5 billion (about $27 million). The operation recorded 51 bids for 21 participants from the WAEMU region, including Togo which offered CFA7...

The African Development Bank -AfDB- approved $1 million in aid to Uganda to support the National Ebola Viral Disease (EVD) Preparedness and Response Plan. The loan agreement was signed on Wednesday, Feb 12, between the AfDB Uganda Country Director, Kennedy Mbekeani, the Ugandan Economic Development Minister, Matia Kasaija, and Dr. Rebecca Matshidiso Moeti, WHO Regional Director for...

In several news reports, World Bank President David Malpass was recently quoted as saying some Multilateral Development Banks, including the African Development Bank, have a tendency to lend too quickly and in the process, add to the continent’s debt problems. This statement is inaccurate and not fact based. It impugns the integrity of the African Development Bank, undermines our governance...

The West African Development Bank (BOAD) has approved $3 million for the construction of a bridge and a road in Tibiri Gobir, over the Goulbi de Maradi River in Niger. This project covers the asphalting of 2km of road and the construction of a 300-meter bridge. This will enable the people of this locality to reach the town of Madarounfa by road. Until now, people travel between these two...

The Mobile World Congress set to take place from Feb 24-27 in Barcelona, Spain, is officially canceled due to the current outbreak of coronavirus. In a statement, GMSA, which organizes the event said: “the global concern regarding the coronavirus outbreak, travel concern, and other circumstances makes it impossible for the GSMA to hold the event.” The decision was announced after exhibitors...

Egypt-headquartered healthcare platform Vezeeta raised $40 million in a transaction led by the UAE-based asset management firm Gulf Capital and involving Saudi Technology Ventures, a Saudi Arabian venture capital firm that is already a shareholder in Vezeeta. Vezeeta, which enables patients to search, book and consult doctors and medical services online, plans to expand its health services...