Rwanda will house the administrative secretariat of the African internet exchange points association. The latter, in partnership with the Internet Society, signed an agreement in that regard with the Rwanda Internet Community and Technology Alliance (RICTA).According to local media The New Times, the agreement follows the successful completion of a call for proposals aimed at helping the African...

Mubawab, a Morocco-based real estate advertiser 51%-owned by the Emirati group Emerging Markets Property Group (EMPG), announces it has taken over African e-commerce giant Jumia’s subsidiay Jumia House Maghreb (present in Morocco, Tunisia and Algeria). Amount of purchase is not disclosed.According to Jumia’s managers, this operation will enable the company to focus on its core activity;...

The government of Morocco is planning to sell 8% stake in Maroc Telecom. An operation that will earn the Treasury MAD8.87 billion ($920 million), according to a note issued June 15 by the country’s capital market regulator AMMC.First, a 6% stake of 52.74 million shares, at MAD127 ($13.2) each, will be sold en bloc to local institutional investors such as pension funds, insurance companies and...

Norwegian Investment Fund -Norfund- and the Netherlands Development Finance Company -FMO- have entered an agreement that could win them interest in the capital of Ecobank Transnational Incorporated (ETI). Operation will be made through Arise BV, an investment firm owned by FMO, Norfund, and Rabobank. The 14.1% stake is held by the International Finance Corporation (IFC). Let’s recall the...

In a statement issued June 14, the World Bank reported it has granted Tunisia two loans both worth $175 million to finance two projects in digital transformation and economy.   First project investment ($75 million) intends to improve access to financing for innovative start-ups and SMEs. It aligns with the government’s “Start-up Tunisia” program that aims to foster the...

Côte d'Ivoire will benefit from $133.9 million under its economic program with the International Monetary Fund (IMF), the institution reports. IMF says the disbursement aims to sustain strong growth, ensure macroeconomic stability, reduce poverty and promote inclusiveness. The performance under this program is commendable, and all performance criteria, except one, were met.   The...

In Morocco, the mobile operator Inwi announced it is launching its Mobile Money service Wana Money by next September. Information was disclosed by Nicolas Levi who managed Wana Money, Inwi's subsidiary dedicated to the service, during the MPay Forum held last week in Casablanca, Morocco. Inwi says it looks forward to providing its customers, but also all mobile phone users, with a wide range of...

The government of the Democratic Republic of Congo has finally decided to revoke mobile operator Vodacom’s 2G license. According to the telecoms Minister, Emery Okundji, “the ARPTC (Telecoms Regulator, ed) is being asked to proceed within three months with the formalities for the withdrawal of frequencies from Vodacom and to put them on auction.” As a reminder, the Congolese government...

Moroccan Capital Market Authority -AMMC- announced June 14 it has approved the issue of a perpetual subordinated bond by Attijariwafa Bank group with a loss absorption and coupon payment cancellation mechanism. Through this bond issue, the bank is seeking MAD1 billion ($103 million); subscription period is June 24 to 26, 2019. The operation is split into two tranches, the first being subject to...

The government of Rwanda is planning to invest about $220 million to improve infrastructure and transport facilities in the country, The New Times reports. New projects cover, according to finance minister Uzziel Ndagijimana (photo), construction, rehabilitation and extension work on various roads in many regions. Particularly, projects target the construction of the Pindura-Bweyeye highway...