The International Monetary Fund (IMF) approved a $172.1 million extended credit facility for Sierra Leone, a release published by the Bretton Woods institution last Friday informed. According to the release, this credit facility is aimed at helping the country address the new economic challenges that appeared in June 2017 and, at the same time implement a favourable environment for...

The African Development Bank (through its Trade Finance operations) has signed a US$20 million facility to finance Meridian’s operations in Malawi, Mozambique and Zimbabwe. This Soft Commodity Finance Facility is designed to provide pre- and post-shipment finance along various stages of Meridian’s soft commodity value-chain operations in the three countries concerned, to help local farmers...

Qalaa Holdings, an Egyptian private equity fund that funds energy and infrastructures projects, announces that it will invest EGP30 billion ($1.7 billion) in the next three years in Egypt. Ahmed Heikal, president of the investment firm, informs that these funds will mainly be invested in companies operating in the oil and energy sectors. For Qalaa Holdings management, this decision is motivated...

For millions of ordinary travellers, inter-African travel is still too often a nightmare. Be it border hassles, lack of road or air routes linking key cities, or the frustrations of being refused entry to a country because of visas, the end result is to curtail the free movement of people, viewed by the African Development Bank as one of the pillars of regional integration. That freedom of...

The Board of Directors has approved a ZAR 720 million loan to finance the Manzini Region Water Supply and Sanitation Project in eSwatini (former Swaziland). The project aims to expand access to adequate water and sanitation services for all citizens and to contribute to economic development and poverty alleviation in Eswatini. The Manzini region is the most populous region in eSwatini, but it is...

On Tuesday 27 November 2018, the African Development Bank rated Aaa/AAA/AAA by Moody’s/S&P/Fitch (all stable) successfully priced a dual-tranche US$ 500 million 3-year and US$ 100 million 2-year SOFR-linked Green bond, becoming the first issuer to bring to the market a SOFR-linked Green Bond transaction. The fixed rate tranche, oversubscribed within three hours of formal book opening with the...

Had Uganda helped South Sudan violate the embargo imposed by the European Union on weapons? This is at least what a report published by Conflict Armament Research (CAR) this week seems to claim.    According to the report published by Reuters, Uganda played a key role in restocking the belligerents of the civil war which broke out in the country in 2013, two years after the...

Nigeria’s economic growth could be a little below 2%, a release from World Bank indicated this week. According to the document, this growth will mainly be spurred by the non-oil and services sectors while the coming elections is increasingly keeping foreign investors from the country. Noting stagnation in foreign investments in the oil sector, the Bretton Woods institution indicated that the...

Zimbabwe plans to partially privatize incumbent operator TelOne, its mobile branch NetOne, the 40% owned Telecel and Zimpost, Mthuli Ncube (photo), the minister of finance revealed during the presentation of the country’s budget for 2019. TelOne is actually facing financial problems due to many unpaid invoices owed by the government and parapublic institutions. According to Chalton...

Nowadays, with the proliferation of specialized digital channels and especially thanks to the TNT, the access to these media finally becomes affordable to the all society levels. Our hobbies, our knowledges, our culture depend more and more on our TV programs. To satisfy its customers "Flash Congo", in addition to the money transfer service (Western Union and Flash Cash) available in its network...