Mobile operator MTN said on 23 July 2019 it is considering renovation of its telecoms sites across South Africa to operate the NarrowBand – Internet of Things, a Low Power Wide Area Network (LPWAN) radio technology for connecting devices. This announcement which comes a few days after Vodacom officially launched its IoT products range, reflects MTN’s ambition to enter this high-potential...

The African Development Bank, the Association for the Development of Education in Africa and the African Union are recommending the establishment of the African Education Fund as the unique African mechanism to address the challenges of education and skills development in Africa. A  joint declaration in support of the African Education Fund was produced after a workshop organised in Abidjan...

Mining company BHP announced this week, it is investing $400 million over the coming five years to combat climate change. The funds will be used to develop technologies to reduce gas emissions. According to CEO Andrew Mackenzie (photo), the commercial success of these investments will stimulate willingness and create more innovative partnerships to collectively address climate challenge. He...

General Oumarou Namata Gazama, Deputy Chief of Niger’s Army, became on July 23 the new Commander-in-Chief of the G5 Sahel Joint Force which fights terrorism in member countries (Niger, Mali, Chad, Burkina Faso, and Mauritania).The 56-year-old officer, promoted to General position in January 2017, replaces Mauritanian General Hanena Ould Sidi, who has been the Force’s Head since July 2018.The...

The Ivorian government reached a deal with Russia for reinforced cooperation between the two nations. The document was signed during a visit of the Ivorian foreign affairs minister, Marcel Amon-Tanoh, to his Russian counterpart, Sergueï Lavrov (photo), last 17-19 July.The new deal focuses on trade, security, economic stability, energy, industry, fight against terrorism, and education. The...

The London Stock Exchange - listed Petra Diamonds, which mines diamonds in South Africa, faced a 29.15% drop on its share value, during the period of 30 days ending on July 23rd 2019 Diamond sales were $463 million for the financial year ending June 2019, down 6% from the same period last year. The company attributes the decline to the unfavorable environment due to the volatility of some...

The International Finance Corporation IFC is giving Zambia $9 million for a hotel construction project. Total project cost is $30 million. The money will be managed by Protea Hotels Zambia, a major hotel group in the country and the project’s developer. With this financial and advisory support, IFC wants to contribute to “help build new business infrastructure and conference...

The Government of Mali moves to clear part of its domestic debt that has been unpaid since last year. The government plans to pay XOF103 billion, to the great satisfaction of local suppliers. The debt clearance procedure started last week and government says once it is over, “all arrears and money orders of 2018 will be paid.” According to local media, clearing of this year’s debt is also...

State-controlled Banque du Caire (Bank of Cairo) is earmarking $180.5 million (EGP3 billion) to support 800 small and mid-sized businesses across the country. The information was revealed by Nader Saad, the head of SME banking services division. Under this project, Banque du Caire aims to increase its portfolio of loans for SMEs to EGP 6 billion by December 2019. Nader Saad says financing...

The 5 banks and 3 participating branches operating in Morocco recorded a negative net income of MAD377 million ($39.1 million) at the end of 2018. A year earlier, net loss was MAD175 million ($18.1 million). According to the 2018 annual banking monitoring report published by the Central Bank of Morocco on 22 July 2019, the situation is due to “the burden of investments induced by the start of...