Just a few days after his appointment as the head of the general management of Moroccan group Crédit Immobilier et Hôtelier (CIH) Bank, Lotfi Sekkat (photo) told local media that his administrative board could consider activities in Africa. Without going into much details, the new managing director revealed that he would continue with the implementation of projects initiated by his predecessor...

Egypt telecommunications regulator has slammed a €528 thousand fine on Vodafone Egypt for interrupting its services in the evening of June 3, 2019, for many hours. According to the regulator, this interruption constitutes a violation of service quality text stipulated in the license agreements. It indicates that it would not hesitate to take adequate measures to guarantee the quality of...

Indian telecom group Bharti Airtel has agreed to pay $26 million (Tsh60 billion) to settle its dispute with Airtel Tanzania.   According to Palamagamba Kabudi, Tanzania's minister for foreign affairs and east Africa cooperation, the payment will be made over five years. Its local subsidiary’s debt estimated at $407 million will also be cancelled.   Since December 20, 2017,...

Amethis Fund II, an investment vehicle set by financial group Edmond de Rothschild’s private equity platform, has closed at €375 million, Private Equity International indicates. Earlier in February 2019, the partial closing at €305 million of this fund was way above the initial target (€300 million). It is also a record of funds raised by the group for investments in Africa...

Uganda plans to invest $205 million to upgrade an old railway line linking its capital Kampala to Malaba, a town at the border with Kenya. This was revealed by The East African citing one of the national railway company’s executives. According to Uganda Railways Corporation’s chief financial officer Stanley Sendegeya, the upgraded meter gauge railway line is expected to boost...

Central Africa stands to benefit the most from the African Continental Free Trade Area (AfCFTA), data from the African Development Bank shows. Hanan Morsy, Director of Research at the Bank, revealed the findings at the launch of one of the Bank’s flagship reports in Malabo, where the African Development Bank is hosting its Annual Meetings. Morsy said Central Africa’s real income could...

Equipping and empowering young people with requisite skills will be a game changer for Africa’s economic progress, social development and well-being. This aspiration is espoused in the African Union’s Agenda 2063 vision for “an integrated, prosperous and peaceful Africa, driven by its citizens and representing a dynamic force in the international arena.” The continental strategy for...

Out of the five operators that were in the competition to acquire financially-strapped operator Orange Niger, only Telecel Centrafrique and Rimbo Holdings remain in the race. Maroc Telecom, MTN and Vodafone are now out. According to Confidentiel Afrique, Telecel RCA was the favourite with its offer deemed the best while Rimbo Holdings gained the stand with its interesting social plan that...

By June 30, 2019, Egypt should have seven additional online platforms for government services. This was announced by the IT ministry which indicated that these platforms will provide access to various services like insurance, taxes, social housing, special needs, real estate registration, education, grants and marriage or divorce certificates. According to local media al-monitor, the government...

Currently, there are 34 poor countries (with annual per capita income equal or below $995), the World Bank group indicated in a report published on June 4, 2019. In 2003, there were 66 poor countries. Out of those 34 countries, 26 are in Sub-Sahara Africa. They include Mali, Niger, Eritrea, Madagascar and the Democratic Republic of Congo. Between 2003 and 2019, 32 countries have joined the...