Egypt is joining the United Arab Emirates to pump about $20 billion in various social and economic projects, the crown prince of Abu Dhabi, Cheikh Mohammed bin Zayed al-Nahyan, announced last week during a visit to the UAE by Egyptian President Abdel Fattah al-Sisi. The new fund line will be used to implement strategic investment projects, specialized funds, and investment tools, in a...

The African Development Bank will pump $372 million in the economy of Benin next year, the institution’s country manager John Andrianarisata (pictured) announced last week. The manager said the money will be steered into eight projects in key sectors such as agriculture, transport, energy and sanitation. This aligns with AfDB’s new Country Strategy Paper (CSP) for Benin that aims to...

The African Development Bank will pump $372 million in the economy of Benin next year, the institution’s country manager John Andrianarisata (pictured) announced last week. The manager said the money will be steered into eight projects in key sectors such as agriculture, transport, energy and sanitation. This aligns with AfDB’s new Country Strategy Paper (CSP) for Benin that aims to...

Pay-Tv operator Orao Telecom is launching a pay-TV bouquet of 15 channels. The company has chosen Eutelsat CIRRUS, Eutelsat’s hybrid satellite/OTT solution which will enable it to launch both a pay-TV bouquet and a video-on-demand service. The two companies announced the signing of a collaboration agreement, in that regard, at the opening of the 2019 edition of AfricaCom. “We are delighted...

Norway has just allocated 40 million Norwegian Kroners ($4.4 million) to Malawi for the second phase of the Agriculture Sector Wide Approach Support Project (ASWAp SPII). Funds will be channeled through the Multi-Donor Trust Fund (MDTF) managed by the World Bank. This framework program aims to increase and diversify the country’s agricultural production with the promotion of climate-resilient...

Rand Merchant Investments, through its fintech investment arm AlphaCode, got a 25.1% minority stake in health startup Guidepost. The amount of this transaction is not disclosed yet but Guidepost will use the money to expand its network of partners working to improve access to care for diabetic patients. Based in South Africa and London, Guidepost is a platform that connects people with diabetes...

In the first half of 2019, the debt of emerging countries hit a new record of $71,400 billion, making 220% of the group’s GDP. China, which is still regarded as an emerging market, accounts for a big share of this debt. The data was revealed in a recent report by the Washington-based Institute of International Finance (IIF) that tracks global macroeconomic developments. Debt generated by...

Pan-African Submarine cable operator Seacom announced it is partnering with data center provider Raxio Data Center Ltd to offer Ugandan customers a wider range of digital services. The telecom company intends to rely on the Raxio Uganda data center, currently under construction in the country and expected to be ready for use by the first quarter of 2020. According to Tonny Tugee, Seacom’s...

A pipeline explosion that occurred yesterday November 13 killed 6 and injured 16 others in Egypt’s Northern Province of Bahira. The sad news was announced by Abdelmoneim Hafez, head of the national oil pipelines authority, who stressed that the fire was caused by an oil leak which was the work of thieves siphoning off oil. According to official report, the pipeline exploded precisely near Itay...

The African Development Bank (AfDB) has just published its 2019 Africa visa openness survey that measures the level of openness of African countries' borders to travelers. The ranking is based on four criteria including the issuance of visas, the ratification of the African Continental Free Trade Area (AfCFTA), accession to the African Single Transport Market, and the implementation of the...