The headquarters of the African Civil Aviation Commission (CAFAC) in Dakar, Senegal has been hosting, since Thursday 30 January, the 3rd Stakeholders' Meeting on the implementation of the Joint Priority Action Plan for the operationalization of the Single African Air Transport Market (SAATM). For 2 days, the 30 participants will work on the establishment of a common platform for all partners and...

Niger’s tax administration reports it collected more than CFAF 500 billion in tax revenues in 2019, CFA30 billion higher than the amount cashed the previous year. “In 2019, we reached 94.88% achievement rate compared to forecasts, an unprecedented increase in revenue. A cash of more than CFA30 billion compared to the year 2018,” said the Director-General of Taxes, Assane N'Diaye. Let’s...

Aman Holding, a subsidiary of the Egyptian investment holding company Raya Holding, has received offers from 24 local and foreign financial institutions to acquire a minority stake in its capital.According to Medhat Khalil (pictured), chairman of Raya Holding group, this solicitation of investors reflects their interest in the financial services set up by the group and their future returns. Aman...

Ethiopia’s export revenues reached $1.3 billion during the first half of FY2019/20, up 10% compared to the same period in the previous year. According to the Trade Ministry, the improvement was spurred by good performances in the sales of coffee, cereals, textiles, oilseeds, spices, flowers, leather, and other products exported to 137 countries. On the other hand, sales of gold,...

In 2019, the daily turnover on all African Stock Exchanges dropped compared to the previous year, except on the Stock Exchange of Mauritius (SEMDEX) where turnover grew by 57% to $15 million. According to the 2019 Bright Africa report published by the analysis firm Riscura, SEMDEX recorded the highest increase in daily turnover. “The improvement in the MUSE daily turnover is partially...

In 2019, the Antananarivo airport welcomed over 1 million passengers while the Nosy Be airport, Madagascar's second-largest airport, handled 216,000. According to Ravinala Airports, which manages Madagascar's main airports, “these figures are historic in the Malagasy aeronautical field, first time in 20 years.” By increasing the frequentation of the country's two main airports, Ravinala has...

In 2019, Senegalese startups captured the lion’s share of equity investment in Francophone Africa’s tech companies. According to a report by venture capital fund Partech Africa, they attracted a total of $16 million. However, this figure is down 27.2% ($6 million) compared to the $22 million Senegal raised in 2018. Overall on the continent, Nigerian startups were atop the list,...

US technology company Google opens its very first Digital Space, a hub for African developers, entrepreneurs, and startups, in Lagos, Nigeria. This is a move to further express the company’s readiness to support the ICT environment on the continent. “We have partnered with Impact Hub to bring the Space to life, and worked with a local company called Spacefinish, which designed it...

The South African banking group Nedbank invested R3.5 billion (about $248 million) to foster the digitalization of its services in the first half of 2019. According to the rating agency Moody’s, this represents around 22.4% of operating expenses over the period, roughly the same amount as that of rivals Absa Group, FirstRand Bank and Standard Bank. Moody’s says traditional banks like...

On January 28, 2020, Côte d'Ivoire mobilized a total of CFA60.85 billion (about $102 million) on the WAEMU securities market, through the issue of treasury bills (BATs) and fungible treasury bonds (OATs). The initial amount requested was CFA60 billion (about $100 million). Issued with a 3-month maturity, the treasury bills was oversubscribed with a total amount of CFA83.7 billion...