In Sub Saharan Africa, investment banking activities generated $93.5 million in Q1, 2019, Ecofin Agency gathered from a report published by Reuters. On a year to year basis, this represents a 24% drop. It is also the poorest performance recorded by the region on this banking segment in the past five years due to the activity slowdown on stock exchanges. For investment banks operating in...

Nigeria bets on special economic zones to double its manufacturing output by 2025, the Ministry of Industry, Trade and Investment announced this week. According to the communiqué published by the ministry, those zones should help increase the manufacturing sector’s contribution to GDP from 10% currently to 20%. In that regard, the government has created the Nigeria SEZ Investment Company...

The Arab Bank for Economic Development in Africa has granted a $30 million loan to Banque Malienne de Solidarité, Mali’s economy and finance ministry indicated. The agreement was signed during the 44th yearly assembly of the Islamic Development Bank held in Marrakech on April 4-6, 2019. Thanks to this financing, Banque Malienne de Solidarité will fund commercial transitions between...

Further details on the partnership between French and South African banking groups Société Générale and Absa Group should be available by end Q2, 2019, Reuters indicated relaying the statements of Charles Russon, head of investment banking at Absa group. The two partners announced their agreement but, investors are still wondering how this should be done. M. Russon indicated that work units...

Nissan will invest $213 million to increase its production capacity in South Africa. This was announced this week by Mike Whitfield (photo), managing director of the South African subsidiary of this car maker. Thanks to this investment, Nissan will develop its new models Navara to supply the South African market and neighbouring countries. It should also increase the group's production...

PCCW Global, subsidiary of Chinese telecom group HKT, announces an important upgrading of its internet infrastructure in Mozambique. This announcement is made weeks after the tropical cyclone Idai, which caused numerous material damages and hundreds of deaths in the country. PCCW’s internet infrastructure combines optical fibre, satellite, microwave signals and wireless connectivity. PCCW...

Amid its tensions with China, the USA is changing the strategy of its Overseas Private Investment Corporation (OPIC). In that framework, more funds will be provided to the corporation and a new strategy created.   However, it will be difficult to compete with China’s financings in Africa. Indeed, according to data compiled from the corporation's website, it appears that the total value of...

Till April 24, 2019, the Uganda Communications Commission (UCC) will receive citizens’ opinions on the various changes they need for the current telecom license system. The public consultation process launched on April 4, 2019, in that regard is aimed at facilitating the introduction of new players in the market and improving competitiveness as well as consumers’ purchase power. It is also...

Société de Limonaderies et des Brasseries d'Afrique (solibra), subsidiary of Castel group in Côte d’Ivoire, ended 2018 with XOF1.3 billion of net profit. On a year-to-year basis, this performance is three times lower than the XOF4.2 billion recorded in 2017. The management provided no reason for this counter-performance. Nonetheless, it is to be noted that the firm’s turnover reached a...

In 2019, drought could negatively affect Kenya’s economy by hitting the agricultural sector, the World Bank announced in a new report published this week. According to the institution, the country’s growth could fall from the initial forecast (published in October 2018 at 5.8%) to 5.7% due to the impact that drought could have on the country’s agricultural sector that represents about...