Morocco will open new terminals at Tanger port to increase the infrastructure’s container capacity, Rachid Houari, the port’s Manager, told Reuters this week.He says the government plans to add six million TEU to the capacity of the biggest port in Africa, which last year was estimated at 3.5 million 20-foot equivalent units (TEU), under a €1.3 billion extension program.With program...

The International Monetary Fund IMF approved $47 mln in favor of Niger under an Extended Credit Facility signed with the country.According to the institution that reported the news this week, Niger performed well in implementing its reforms, despite tense security environment. The government improved public finances, and remains committed to meeting the budgetary convergence criteria of the...

The Chinese government writes off $22 million of Zambian state debt and approves a $30 million donation for the country. This was announced on June 24 by Wang Yi (photo), Chinese Minister of Foreign Affairs.New support aims to implement development projects to accelerate industrialization and create jobs, in line with the Seventh National Development Plan for the period 2017-2021.Zambia...

The government of Egypt, via the Information Technology Development Agency (ITIDA), has signed a cooperation agreement with Juniper Networks. The company specializing in the provision of network solutions and technologies will help the country develop a more skilled ICT human resource.Document was signed June 23 by ITIDA's Acting CEO, Hala El Gohary, and Juniper Networks' CEO, Rami Rahim (photo),...

Shelter Afrique, a pan-African housing finance company, announced June 20 it suffered an 18.5% increase in net loss to $9.23 million during the FY2018.The company attributes this fourth loss-making year in a row to its commitment in 2016 to suspend approvals of new loans as part of a moratorium period agreed with lenders.Shelter Afrique bases its business model on raising funds in local...

In 2017 and 2018, Kenya took the lion’s share of private equity investments in East Africa. This is indicated in a report co-issued June 20 by the audit cabinet KPMG and the East Africa Venture Capital Association (EAVCA).Of $1.4 billion invested over the period, Kenya captured $1.2 billion. According to the report, the largest transactions were made in Kenya for $1.2 billion....

In only four years, the total amount of funds granted to Côte d'Ivoire by the World Bank rocketed by 400%. This was observed during the 7th review of the bank’s portfolio in the country, held June 24.“Financing provided by the World Bank went up from $600 million (XOF300 billion) in 2015, to nearly $2.4 billion (XOF1,200 billion) in June 2019, increasing by about 400%,” said...

Côte d’Ivoire reached a deal with China to write-off a XOF20 billion (about $34.6 million) debt and, at the same time, received XOF18 billion (about $31.2 million) in donation from the Middle Kingdom.The paper was signed June 24 on the sidelines of a meeting that aims to evaluate progress in actions decided during the Beijing Summit under the Forum on China-Africa Cooperation...

Kenya’s Stanbic Bank announces it is making available to businesswomen a financing worth KSh20 billion ($195.8 million) to empower and support their activity. Monies are granted under the “Dare to Aspire Dare to Achieve -DADA-” program the bank recently launched, and will be available from next year. Amount to be received by each lady depends on the activity sector. According to MD...

Telecom company KaiOS Tehnologies announced June 21 it has secured the support of French group Orange in raising $50 million to improve Internet access in Africa. With this sum, KaiOs will reinforce its footprint on the growing market of smartphones; a market that should enable 827 million African people have access to digital services. “We are looking forward to developing more...