The Spanish government approved on July 19 a €30 million financial support to Morocco to help fight illegal immigration.According to El País, the aid will enable the Moroccan authorities cover the costs incurred in their collaboration with Spain and the whole of the European Union in border control and the fight against illegal immigration on the Spanish coast. Specifically, the money...

A veteran exporter of Kenyan fresh fruits and vegetables and a young South African farmer specialising in the design, provision and management of indoor and outdoor hydroponic systems, were the winners of this year’s youth  AgriPitch competition, organized by the African Development Bank in partnership with the Western Cape Government in South Africa.Kenyan Alex Muli, CEO and Co-Founder of...

The International Monetary Fund -IMF- approved on July 19 an additional $25 million to help Burkina Faso further its economic reforms. This is to mark a satisfactory 2nd review of the 3-year Extended Credit Facility (ECF) signed with the country in March 2018. IMF says Burkina Faso’s performance under the program has been broadly satisfactory and the economic activity remains resilient...

Luxembourg-based InsuResilience Investment Fund, managed by BlueOchard Finance, is acquiring 39.25% shares in the capital of Nigerian insurer Royal Exchange General Insurance Company Limited (REGIC). Money generated through this operation will enable the non-life insurance company to reinforce its services and products targeting agriculture players in Nigeria. “The company is uniquely...

Users of telecom services in South Africa can now access the “V by Vodacom” range of Internet of Things products launched by mobile operator Vodacom. According to Saloshni Muthal, Head of Consumer IOT at Vodacom, the new range reflects Vodacom’s capacity to empower customers to keep track of the things they love. “In this way, Vodacom remains committed to transforming the lives of all...

The investment banking industry in sub-Saharan Africa generated $227.3 million between January and June this year. This figure is down 19% compared to the same period in 2018, and is the lowest level in the region since 2016. The dropping figure is the result of weak listing turnover. Listing revenues was $20.9 million over the period, narrowing by 70% compared to H1 2018. Money...

On Wednesday 17 July in Abidjan, the Board of Directors of the African Development Bank approved a loan of €87 million to the government of Senegal, to implement its Project to Improve the Water Supply for the Development of Value Chains (PROVALE-CV). For this project, valued at an estimated €122 million, the Bank will provide €60.8 million, while the "Africa...

Economic growth in the Central African Republic is forecasted to reach 4.7% this year, the Bank of Central African States (Beac) reports. This figure is higher compared to the 3.8% last year but down compared to the 5% forecasted by the IMF for the year. Such a growth is going to be achieved, Beac says, through good performances in the infrastructure sector, construction especially, and the...

According to the recent World Bank studies, coastal erosion and the pauperization of halieutic resources in lagoons have become a national emergency in many countries on the West African areas. MSC IVORY COAST as one of the sponsors of the 4th edition of the ELE FESTIVAL (socio-cultural festival) organized a "planting" of trees on June 9, 2019 to show the importance of mangrove...

EXIM Bank of India is giving Nigeria $100 million to broaden Internet coverage in rural areas. The fund agreement was signed during the Indian Economic and Technical Cooperation Day, held in Abuja on 17 January 2019. At least 1,000 solar-powered telecom sites will be installed under this 12-month program. It will be first launched in the State of Oyo, according to the Nigerian Minister of...