Niger and Burkina Faso signed on July 10 a cooperation agreement to manage their common borders, official sources revealed. The two countries seek to set a framework that promotes cross-border cooperation between local authorities. The framework covers security, civil protection, education, health, the environment, natural resource management and agriculture. It is expected to ease development...

The Central Bank of West African States (BCEAO) is testing next month large-scale e-payment across Senegal to combat shortage of small changes. This was announced July 9 by the bank’s National Director for the country, Ahmadou Al Aminou Lo during a press conference held in Dakar. Calling on local media to raise people’s awareness on e-payment, Mr. Lo says the banking system is ready to...

Cape Verde’s incumbent operator, Cabo Verde Telecom, gets a $25 million loan from the European International Bank (EIB) to further the high-speed connection in the country through the submarine optical fiber system called “EllaLink”. The EIB fund will back the $60 million investment made by Cabo Verde Telecom to speed up 4G roll out in the country, broaden fiber-to-the-home...

As at July 10, 2019, the market capitalization of companies listed on Africa's 14 major stock exchanges was $1120.78 billion, Ecofin Agency found from data collected on these financial markets. South Africa remains atop the list, with a market capitalization of 899 billion shares. This represents 4 times the combined capitalizations of other markets. Morocco ranks second with a market cap...

Tunisia issued a €700 million Eurobond on the international debt market at a rate of 6.37%, the finance ministry announced on July 10. The operation was oversubscribed at €2.2 billion.This fundraising, arranged by banking groups Natixis, Citigroup and Standard Chartered Bank, aims to finance the country's budget deficit, which is expected to reach 3.9% of gross domestic product...

Edita Food Industries, an Egypt-based agribusiness that operates in the packaged snack food market, says it is seeking $20 million from the International Finance Corporation (IFC) to set a new factory in Morocco.The company wants to partner with a Moroccan company through a joint-venture to distribute its products in the country, in the coming years. With its 5 production sites in Egypt,...

In Morocco, only 23.27% of administrative services are fully computerized, the Ministry of Civil Service and Administrative Reforms declared. About 27% are partially dematerialized while nearly 46% are only informative.According to the Minister Mohamed Benabddelkader (photo), this situation “reflects the weak electronic preparation” of the country. Overall, Morocco's e-readiness is at 48%....

G5 Sahel is receiving an additional €138 million granted by the European Union to further operations, Federica Mogherini (photo), EU High Representative for Foreign Affairs announced this week. According to the manager, the new aid will be in addition to the funding already announced a few months earlier by the European institution. It will finance the deployment of the G5 Sahel joint...

Morocco’s trade and industry bank (Banque marocaine pour le commerce et l'industrie) BMCI has requested a €60 million ($67.3 million) line of financing from the European Bank for Reconstruction and Development (EBRD) to support export-import companies in the country. Funds will be granted through the Trade Facilitation Program, set up by the EBRD 20 years ago, which eases and promotes...

Tanzanian businessman Ali Mufuruki (photo) takes moves to increase his shares in Wananchi Cable Ltd, a company specializing in providing Internet access, voice and pay TV, under the Zuku brand. Ali Mufuruki, who already owns 35% of Wananchi Cable Ltd, wants to take control of the subsidiary to strengthen his position in the local telecommunications sector. Wananchi Cable Ltd is a subsidiary of...