Economic growth in Mozambique is forecasted to enter the double-digit lane as from 2023, the International Monetary Fund -IMF- reported June 21. According to the international body, this will be motivated by the start of natural gas production in the Rovuma basin by the consortium led by Italian multinational oil company ENI. “In the mid-run, Mozambique’s economy should drastically improve...

The government of Gabon has chosen Attijari Securities Central Africa (ASCA), subsidiary of Moroccan Attijariwafa Bank, to arrange its public offering on the capital market in H2 2019, sources revealed. The country seeks XAF100 billion with an interest rate of 6.25% for a 5-year period of maturity to interested investors. ASCA's involvement comes within the framework of a mandate to...

The government of Egypt forecasts budget deficit to be 7.2% of GDP, and economic growth to be 6% during the financial year 2019-20. This is featured in the State budget adopted June 24 by the parliament.For the FY2018-19, that ends June 30, the government planned an 8.4% deficit and a 5.6% economic growth. This year, the State budget provided for a debt-to-GDP ratio of 89% at end-June 2020,...

Tunisia will benefit from €150 million granted by the European Union to implement its economy reviving program. The information was reported June 24 by the European Commission.This new support is in line with the second macro-financial assistance program (MFA II) granted to Tunisia following the terrorist attack wave in 2015; attacks that contributed to plunging the economy of the North...

Mozambique has entered into an agreement with the US to boost trade relations with the country and “remove investment barriers,” Macauhub reports. The document was signed on the sidelines of the U.S-Africa Business Summit held in Maputo, Mozambique, last week. It covers several key sectors of the Mozambican economy, namely agriculture, fisheries, tourism, energy and...

Around the world, there are repeated calls for a new approach to international corporate taxation. In March 2019, the IMF joined the callers. To justify this support for such reform, Christine Lagarde, the IMF’s managing director, pointed out the unfairness of the international taxation system. According to the managing director, this unfairness is excruciated by “the surge of very profitable...

Mobile operator Vodacom announced on June 21 it has reached an agreement with the government to revoke suspension of its 2G license. The information was confirmed by John Aluku, the Director of the office of the Telecom Minister. “A deal is concluded with Vodacom Congo which commits to comply with the government requirements,” the official said. However, deal clauses are not revealed but...

Announced earlier this year, the $500 million loan agreement committed by the African Import-Export Bank (Afreximbank) to boost Tunisia’s trade and investment with the rest of Africa has finally been signed. The document was inked June 22 by Benedict Orama, Head of Afreximbank, and Marouan Abbassi, the governor of the Central Bank of Tunisia. The loan will be made available to Tunisian...

The West African Development Bank (BOAD) announced in a statement last week it is providing monies for 11 development projects within the WAEMU area.   New financing includes seven mid- and long-term loans, totaling $199.7 million, directed to infrastructure projects. Beneficiary countries include Burkina Faso where the bank intends to grant $34.7 million for the Project to...

Airtel Africa announced it has recently signed various loan agreements totaling about $2.7 billion. The company is in the process of listing on the London Stock Exchange and is also considering listing on the Nigerian Stock Exchange. The largest financial facility was arranged in May 2019 with Standard Chartered Bank group for a total of $2 billion. During the period, some of the...