The Government of Rwanda has signed a €229.20 million funding agreement with the African Development Bank to support the country’s program to improve electricity supply and expand access to electricity under the Scaling Up Electricity Access Program Phase II (SEAP II). This operation builds on the successful implementation of the Scaling Up Electricity Access Program (SEAP) approved by...

During H1, 2018, the value of Foreign Direct Investment (FDI)  in Africa ($18 billion) decreased by 3% on a year on year basis, according to the United Nations Conference on Trade and Development (UNCTAD). The poorest performance was registered in West Africa where the volume of FDI dropped by 17% from $5.2 billion to $4.3 billion. The obvious volatility of the world's economy and...

The African Legal Support Facility (ALSF) has launched a flagship initiative, the “ALSF Academy Project." Under this initiative, the ALSF has developed a three-level capacity building and certification program. This program will be conducted through an interactive online portal, starting with an inception phase consisting of a series of in-person workshops. It is an innovative tool that will...

Brokerslink, the world's largest insurance broker, announced, on October 12, that it was adding 9 new African countries to its network thus extending its services to 21 African countries. This extension to the nine new countries was operated via alliances with eight independent brokers in those countries. The independent brokers are namely CCAR (Mauritania), Compendium (South Africa), Consass...

Next October 24-26, Egypt will stage a joint military exercise "Defenders of Friendship 3" with Russia. These exercises are organized in the framework of the cooperation between the two countries’ armed forces. During the exercises, the paratroopers of the two countries will exchange their training experience on some battle activities. According to a statement from Egypt armed forces, "the...

Atlantic Leaf Property, a real estate company listed on Mauritius Stock Exchange, announced that during the first semester of the 2018/2019 fiscal year ending in late August, it realized a net profit of £7.9 million (about $9.18 million). This performance is the result of a slight growth in rental revenues which boosted the turnover to £13.4 million. The company explains however that its...

In the past ten years, East African countries borrowed $29.4 billion from China to develop their transport, communication, manufacturing and energy sectors. Indeed, according to data from the China Africa Research Initiative (CARI) of Johns Hopkins University, Ethiopia which received the largest loan during that period, owes $13.73 billion, $9.8 billion for Kenya, $2.96...

Tunisia could lose about $138 per year due to the natural disasters the country is confronted with, Riadh Mouakher, Tunisia’s minister of local and environmental affairs indicated last week. According to the official, this loss would be due to the damages sustained by infrastructures during floods and fires as well as the drop in productivity in the agriculture sector induced by...

The African Development Bank in a multidisciplinary team roadshows has presented financial products and investment opportunities to Nordic investors to leverage more access to financing. The roadshows brought together more than 50 private sector companies, investors and government and public institutions in Norway, Sweden, Finland, and Denmark. The aim of the event was to bring the Bank closer...

The subsidiary of Kuwait group Zain in Sudan signed LTE roaming agreement with Telenor, the Norwegian telecommunications group. Thanks to this partnership, Zain Sudan can automatically offer clients of the 13 markets of Telenor LTE services when they travel to that country. In addition, Zain Sudan’s clients can use their sim cards to access Telenor networks when they travel to one of the 13...