The African Development Bank has been recognised for procurement excellence by the Chartered Institute of Procurement & Supply (CIPS), the world’s largest professional body for procurement and supply management professionals, with offices all over the world including Africa. The Bank was awarded a silver award at advanced standard level following the CIPS Procurement Excellence Programme, for...

Mobile operator Tigo launched a new service dedicated to state agents. The service is an unlimited call bundle that allows subscribers to call each other for free. “This new offer is a revolution for it gives state employees the opportunity to call without worrying about call credits…They are also offered a data volume to browse on the Internet and a free access to the Tigo Cash service. Any...

South Africa’s defense company plans to mobilize R160 million ($10.8 million) in Q3 FY2019-20 through the sale of shares it holds in many businesses. The State-owned equipment manufacturer has already started the procedure to dispose 30% stake in Hensoldt Optronics, a producer of high-tech optics. Process completion is now subject to approval by the South African government. Denel is also...

Sudan’s new government is actively working to get the country on the right path of economic growth. Yesterday September 8, the finance minister, Ibrahim al-Badawi (pictured), unveiled a strategic recovery plan to revive growth within 200 days. The official says the plan focuses on 5 points which include macroeconomic stabilization, youth-centered job creation, and the transition of...

In 2020, the CFA Franc is turning 75 years old. The currency, used in two African regions1, is backed by the French treasury and pegged to the Euro. Though the 2014 commodity price slump revealed vulnerabilities, the situation is not comparable with 1994, when the CFA Franc was devalued by -50% in Western (WAEMU) and Central (CEMAC) CFA Franc areas. Yet, divergence among members calls for...

US asset manager, Carlyle Group, has acquired a majority stake in IsoMetrix, an integrated software provider. The transaction, whose financial terms are not disclosed, was carried out via Carlyle Sub-Saharan Africa Fund (CSSAF), Carlyle Group's investment fund for sub-Saharan Africa. IsoMetrix, which is present in the South African market, will become the second company in Carlyle Group's...

The Congolese government is reviewing its national identification database and President Félix Tshisekedi announced the launch of biometric identification system by 2020. This was during the 3-day workshop to validate the 2025 national digital plan, which begins September 3. During the meeting, which brought together Congolese experts in the digital sector, the Head of State made it clear that...

South African telecom group MTN announced the temporary closure of its service centers and stores across Nigeria. The preventive measure comes after the attack on four of its stores on 3 September 2019, as a reprisal for the xenophobic fever that South Africa is once again experiencing. In a press release, MTN Group explains that beyond its commitment to provide uninterrupted services, the...

The Tripartite Free Trade Area (TFTA) between Southern and Eastern African countries is expected to be operational by 2020. This was announced this week by Francis Mangeni (pictured), Trade and Customs Head at the Common Market for Eastern and Southern Africa (COMESA). Speaking on the sidelines of the sixth annual COMESA Research Forum, the manager indicated that negotiations for the effective...

Economic growth in the Democratic Republic of Congo is expected to slow to 4.3% and 3.9% in 2019 and 2020, respectively. This was announced by the International Monetary Fund (IMF) in a statement issued this week. The economic decline will be driven by the fall in copper and cobalt prices, two items that boosted the country's economic growth to 5.8% in 2018. This situation will drop mining...