Ghana will integrate climate action into its development agenda, president Nana Akufo-Addo (photo) informs.   The official indicates that the Paris agreement and Goal 13 of the Sustainable Development Goals (SDG) provide the required framework to integrate mitigation and adaptation measures in national policies, strategies and plans. During the R20 climate summit in Australia, Akufo-Addo...

Germany recently suspended financing of $106 million in favour of Uganda, the German ambassador in the country Albrecht Conze revealed last week. The funding should have been granted in the framework of a refugee support plan but, it was suspended due to a fraud case involving numerous Ugandan officials. In 2018, an investigation launched by the United Nations revealed that some Ugandan...

Telnet Holding, a Tunisian tech group, announced on May 28, 2019, that it would open a subsidiary in Saudi Arabia in collaboration with a local partner. It indicated that a partnership agreement has been signed in that regard with Middle East Fiber Cable Manufacturing (MEFC) to launch a new entity.   Baptized Telnet Arabia, the new subsidiary will operate in space and earth...

Telecommunications infrastructure operator Guinéenne de large bande (Guilab), signed a partnership agreement with Facebook for the installation of a CDN network.    According to Guilab, this is a strategic partnership because it will help improve the user experience since it will reduce cost and improve loading time.    Mohamed Diallo, managing director of Guilab,...

Private equity firm Helios Investment Partners plans to launch a $1.25 billion fund dedicated to Africa,  Bloomberg reported on May 28, 2019, citing sources close to the case. The firm initiated negotiations with asset managers and development financing institutions for the launch of this vehicle, which will be the largest investment fund exclusively dedicated to Africa, the same...

Mali will introduce a 0.2% tax on eligible imports to fund the African Union (AU)’s budget. On May 24, 2019, during a ministerial council, a draft bill was passed in that regard.   During an African Union summit in Kigali, Rwanda, in July 2016, African Heads of State put forward an idea to allow member countries to levy taxes on imports from non-members. The main purpose of this tax was...

Kenya plans to invest $59 million to increase its data capabilities. This fund will be used to deploy an extension of the Djibouti Africa Regional Express (DARE). The submarine sensor required to determine the path of this cable has already been completed and the construction contract has been awarded. Currently, Djibouti has to set a scheme for the sharing of revenues generated by this...

The Tanzania Telecommunications Corporation Limited (TTCL) informs that it needs TSh1.77 trillion ($760,633,438) to improve its financial performance over the next five years. For the 2019/2020 financial year, TTCL will need TSh600 billion (257 841 843 USD). To boost its financial performances, TTCL plans to upgrade its network and improve coverage. Its target is to increase its...

At the end of April 2019, the market capitalisation of financial companies listed on the Ghana Stock Exchange was GHS13.7 billion ($2.6 billion), according to figures published by the Bank of Ghana. This represents a 6.2% drop compared with the market capitalisation of these companies at end January 2019 (GHS14.3 billion). The central bank provided no direct explanation for that decrease. In...

Egypt Central Bank is planning to increase commercial banks’ minimum capital base from EGP500 million to EGP5 billion. This was disclosed in a draft bill on banking and financial institutions’ activities. The capital base of foreign banks’ subsidiaries in the country should increase from $50 million to $150 million, according to the same draft bill. The concerned banks will have...