Solar public-private partnerships (PPPs) have been popping up all over Africa. Until recently, most of the solar PPP activity took place in South Africa in the form of utility-scale solar photovoltaic (PV) projects. However, now that more countries have implemented PPP policies, this type of agreement has gained much traction in the continent’s renewable energy landscape. But what exactly is a...

The consolidated tax revenues of the member states of the West African Economic and Monetary Union (WAEMU) reached XOF6,379.5 billion ($10.6 billion) in the first six months of 2019, according to the Central Bank’s monetary policy report published in September. This performance represents an improvement by 14.5%, compared to the same period last year, and reflects the good results in the...

Ghana’s public debt reached 59.4% of GDP at the end of July this year, against 53.1% in July 2018, the Bank of Ghana’s Monetary Policy Committee (MPC) revealed. The GHC205.6 billion ($38 billion) debt in July 2019 is 26.6% higher than the GHC159.7 billion ($30 billion) of July 2018. According to the Central Bank of Ghana, this debt is composed of external borrowing (31% of GDP) and domestic...

The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, has approved a $500,000 grant to support the development and launch of the Nigeria Energy Access Fund (NEAF), a new private equity fund developed by All On, a Nigerian impact investment firm financed by Shell. NEAF will make strategic investments in sustainable energy in Nigeria, particularly in the...

The Kenyan government announced September 19 it will reduce its 2019-20 budget spending by KSh46.2 billion, or about $445 million, due to revenue collection shortfalls. This announcement comes a few days after Acting Finance Minister Ukur Yatani announced strict cuts in spending on foreign travel by public servants and advertising by ministries. These new budget cuts represent 2.1% of...

South Africa’s Rand Merchant Bank (RMB) has just published the 9th edition of its “Where to invest in Africa” report which ranks the most attractive destinations for investment on the continent in 2020.While the most attractive economies remain broadly the same as in previous editions, there have been significant changes in positions. Egypt remains the most attractive African country for...

Zambian aquaculture company Yalelo received $6 million from Finnfund, a Finnish financial institution that provides fund for private companies in developing countries, to expand its activity. The financing is Finnfund’s first direct investment in Zambia. The sum will enable the company specializing in the production and marketing of fish (Tilapia) to increase its annual production...

Norway approves a financial aid of $3.4 million to supply school canteens in Mali during the ongoing school year. According to the African Press Organization which reveals the news, the money will support about 55,000 students through the school feeding program, managed by the World Food Program in the central city of Mopti. “Norway is supporting school meal programs in several...

Guinea’s mining company Société Guinéenne du Patrimoine Minier (SOGUIPAMI) is developing a program to reinforce the operation of its gold licenses at Siguiri, including soil geochemistry and trenching on identified mineralization.According to initial ground sampling results, the 22 270 permit of Siguiri reveals varying grades between 0.5 and 11,614 parts per billion of gold; with 58%...

Angolan commercial bank Banco de Fomento Angola (BFA) concluded a credit deal of $50 million with African Export-Import Bank (Afreximbank) under the Trade Facilitation Program (AFTRAF).With this agreement, BFA becomes the first Angolan bank to benefit from this facility. The line could also be increased based on demand from the Angolan market to boost BFA’s international...