The Carbon tax bill could cost $813 mln a year for South Africa’s Eskom from 2023. This already highly-indebted company is thus going to face further though times. As a reminder, this environment friendly tax came into effect in South Africa on June 1st this year, but Eskom benefited from a tax-free period which extends until Phase II of the tax implementation that begins in 2023. The...

Over the first six months of 2019, the largest volume of Mergers and Acquisition deals in sub-Saharan Africa was conducted by Citigroup, Ecofin Agency found in data provided by Refinitiv, a subsidiary of British Thomson Reuters.Data showed that Citigroup accounted for 30.4% of the value of transactions on this segment, with a total of $6.35 billion for 8 transactions. Overall announced M&A...

Satellite operator Eutelsat Communications signed a multi-year service contract with Global Technologies, a company specializing in telecommunications infrastructure. The objective was to provide it with the high-speed Internet connectivity it needs to monitor the main energy distribution sites of the West African Pool Project (WAPP). “To support WAPP in its vision to promote and develop power...

Tunisia collected $684.2 million from tourism during the first half of this year, compared to $480.5 million the same period last year, official data showed. This makes a 42.5% increase between the two periods.Data indicates the country received 3.8 million people in H1 2019, 16.7% more than the number in H1 2018. In May this year, the Tourism Minister said he is expecting 9...

Rwanda’s commercial bank, Bank of Kigali, has chosen Temenos, a Geneva-based company specialized in banking software, to consolidate its digital transformation strategy. The bank intends to develop innovative digital services for its young and female clients. “We are excited to expand our relationship with Temenos, which will form the foundation to drive our three-year digital transformation...

The Zimbabwean government says it is ready to raise public servants’ salaries, the finance minister Mthuli Ncube (photo) reports. The new measure is to cushion the consequences of inflation on people’s purchasing power. This is the second pay increase in three months after the +29% in March.  In a monetary context where the government seeks to reintroduce the Zimbabwean dollar by the...

The World Bank approved $100 million in favor of SMEs operating in Angola, Macauhub reported this week. The support is split into two credit lines worth $50 million each, granted via the International Finance Corporation IFC to Banco Millennium Atlântico, the result of a merger of Banco Millennium Angola (BMA) and Banco Privado Atlântico (BPA). The first line will be dedicated to...

French company Catana Group, which specializes in the design, construction and marketing of pleasure craft, announced it has acquired an additional 20% stake in Haco, a Tunisian firm operating in the same segment. Catana, which already held 30% of Haco’s capital just increased its interest to 50% with the new acquisition. The amount of the operation was not unveiled but Boris Compagnon, Catana...

Ethiopia will run on a $13.4 billion budget for the FY2019/20 that began July 8. New budget was approved by parliament during an urgent meeting held on Monday. The government plans to use about $3.79 billion to fund operating budget, $4.53 billion for capital expenditure and $4.876 billion in subsidy to regional states. Another $207.95 million will be used to implement...

Between January 1 and June 30, 2019, Tunisia’s current account deficit reached TND9.8 billion (about $3.3 billion), the national institute for statistics indicated on July 9, 2019. Year on year, this represents a 20% rise.During the period under review, the country’s exports rose by 12.5% to TND22.9 billion. Almost all sectors contributed to this increase but the agriculture sector....