A consortium of international banks has agreed to collaborate with Papersoft Africa and iVIDIX on an open platform to offer access to innovative funding mechanisms to a million project carriers in Africa. The platform should first be launched in DR Congo and Somalia. Via the Blockchain (a secure data storage and transmission technology) and cryptocurrency technologies, project carriers that had...

On October 23, 2018, Moulay Hafid Elalamy (photo), the Moroccan minister of industry, trade, investment, and digital economy announced that the investments commission has approved 68 projects and amendments to investments agreements for a total amount of MAD57.65 billion ($6.07 billion). According to the official, those 68 projects that could create 9,266 direct jobs were approved following two...

$200 million will be invested in Egypt by Americans, by the end of 2018, Gold Burger, Chief of Mission at the US embassy in Egypt announces. This was announced today during the visit of a delegation of 44 American companies in Egypt in the framework of a conference of the American Chamber of Commerce (AmCham), ongoing from October 23-25, . Gold Burger also indicates that $30 million will...

The Government of the Republic of South Sudan today welcomed a contribution of US$ 43.57 million from the African Development Bank for the implementation of the country’s Short-Term Regional Emergency Response Project (STRERP). The project is designed to enable the Government meet the country’s growing food and nutrition needs, while building community resilience, as hunger reaches...

The risk of a new debt crisis is looming over African countries, Ecofin Agency deduced from corroborative data. In a recent note published by Moody's on the public debt of frontier markets' governments, it is revealed that starting from 2019, an important part of public budgets and foreign reserves will be used to pay international bonds. For instance, Zambia will have to refund about $3...

On October 20, 2018, Egypt’s ministry of ICT signed an agreement with Intertek, specialized in inspection, physical tests, and certification. This agreement was for the construction of an international laboratory for testing and certification of electronic products in Sadat technology park. The 3-year agreement was signed by Hossam Othman, advisor to the country’s minister of ICT and...

Morocco launched, on October 22, 2018, the experimentation phase of its telemedicine project.  Steered by Société marocaine de télémédecine (SMT), the project was deployed in the health centers of Anfgou and Imilchil in the Midelt province Zaouïat Ahensal in Azilal province. In November 2018, three new rural sites will be added to this experimentation phase. They are namely Ait Tamlil...

Between late June 2018 and late September 2018, Dodge & Cox, a large American institutional investor sold about 18.6 million of the about 114.4 million shares it owns in the South African telecommunications group MTN, Ecofin Agency noted from corroborative sources. The company makes no specific comments on this sale but, it explains that the problems MTN Nigeria is being confronted with...

In an interview with the Financial Times, José de Lima Massano (photo), governor of national bank of Angola, indicated that commercial banks that would not meet the capital requirements would be severely sanctioned.   During an Africa-focused event organized in London, the official indicated that some banks would be able to meet the requirement but those financial institutions that would...

Kenya lost about $2.7 billion in the past three years due to its tax exemption policy, John Njiraini (photo) Commissioner General of the Kenya Revenue Authority (KRA), said in an interview with Bloomberg. According to the official’s statements relayed by the American media, the country loses between Ksh85 billion and Ksh90 billion ($840.9-$890.4 million) every year. This situation is...