• Chad raised CFA34.6 billion ($60 million) from two public securities issues on April 23.• The 26-week Treasury bill sale fell short of expectations, with only 78.4% of the target raised.• Three-year Treasury bonds attracted strong demand, fully meeting the CFA15 billion goal. Chad secured CFA34.6 billion (about $60 million) from two debt offerings on the Central African regional...

Digital inclusion enables broader economic participation, from mobile payments to online learning and remote work. This initiative aligns directly with national policy goals and ensures that even low-income citizens can be part of the country’s digital transformation. Ethio Telecom has launched an initiative to improve digital access by providing 2 million smartphones annually through...

• Mali’s 2024 defense spending reached $1.11 billion, with 98.49% of the budget executed• Most of the funds went to personnel, military equipment, and drone purchases• The country is building its own arms industry as part of efforts to reduce dependence on foreign suppliers Mali directed more than $1.11 billion (CFA641.02 billion) toward its defense sector in 2024, according to...

• President Museveni met with Starlink to discuss the company’s possible launch in Uganda• The move could improve internet access in underserved regions through satellite technology• Local users face poor service quality due to weak infrastructure and limited competition Uganda may soon see a new player in its internet sector. President Yoweri Museveni announced yesterday he held talks...

• Ethiopia launches five-year national project to identify and map all groundwater resources• The country aims to build a reliable database to support future water management and fight recurring droughts• Only 17% of Ethiopia’s land has been surveyed so far, despite heavy reliance on groundwater in rural areas Ethiopia has officially launched a five-year project to map all of its...

• Lagos-based Aruwa Capital has raised $35 million for its second gender-focused fund.• The firm now aims to grow the fund to $50 million, with a possible cap of $60 million.• Backers include Visa Foundation, Mastercard Foundation Africa Growth Fund, and Nigeria’s Bank of Industry. Aruwa Capital Management, a gender-lens investment firm based in Lagos, plans to increase...

• Africa’s military spending grew 3% in 2024 to reach $52.1 billion, driven mainly by North Africa• Algeria and Morocco alone accounted for 90% of North Africa’s defense budget, amid rising tensions over Western Sahara• Military-led governments in the Sahel posted double-digit increases as global defense spending reached record highs African countries spent a combined $52.1...

European Investment Bank to provide $34 million in new funding to support Tunisia’s water infrastructure Main project includes new water treatment plant and pipeline upgrades to meet growing demand Tunisia steps up climate adaptation as food inflation rises and water scarcity worsens The European Investment Bank (EIB) will lend Tunisia a total of €30 million ($34...

Nigerian startup secures $20 million Series A to grow in Nigeria, Ghana, and Côte d’Ivoire Backers include Norfund, Timon Capital, Ventures Platform, and Flour Mills of Nigeria Company reached profitability in 2024 and processed over $808.7 million in transactions OmniRetail, a Nigerian startup helping informal retailers digitize their supply chains, has raised $20...

Global uranium demand will rise 28% from 2023 to 2030, according to the World Nuclear Association. Several uranium projects were recently launched all over the world, and especially in Africa, to meet this demand. African uranium developers await better market conditions before making final investment decisions (FID). Bannerman Energy, in its April 24 quarterly report, said current nuclear fuel...