In February 2024, Anglo American Platinum announced it would lay off up to 3,700 workers due to inflation and operational challenges in South Africa's mining industry. On April 26, Impala Platinum (Implats) revealed plans to consult with unions about dismissing around 3,900 workers in South Africa. The firm advanced the same reasons as its South African rivals who also laid off thousands of...

Tunisia has secured cumulative funding of $1.2 billion from the International Islamic Trade Finance Corporation (ITFC) to finance crude oil and refined petroleum product imports, the Ministry of Economy and Planning announced in a statement released on April 28. The funding agreement was formalized through a framework partnership agreement signed by Tunisian Minister of Economy and...

NuRAN aims to diversify its funding sources to strengthen and expand its network in Africa. In February, the company announced negotiations for a $15 million loan with a development financial institution to finance the construction of an additional 800 sites across Africa. On April 26, Canadian telecom infrastructure provider NuRAN Wireless announced securing a $5 million loan from the...

The number of mobile money accounts in Sub-Saharan Africa surged by 17% annually to 763 million in 2022, according to GSMA. The World Bank highlights the need for policymakers to assess the risks faced by users in the event of an operator's insolvency. With the growing significance of mobile money services in developing nations, the World Bank advises policymakers to reassess regulations...

In a significant step to advance food security in Kenya, the Africa Fertilizer Financing Mechanism has launched a project that will help deliver nearly 8,000 tons of fertilizers to 100,000 smallholder farmers, boosting harvests and incomes. Through its Fertilizer Financing for Sustainable Agriculture Management Project, the Mechanism will provide a $2 million partial trade credit guarantee...

The white city of Tangiers wakes gently at daybreak. Schoolchildren mill up and down the main streets of the old town, the medina, crossing paths with the crowd heading to offices and a few morning tourists. Overlooking the Strait of Gibraltar at the northern tip of Morocco, Tangiers is a cosmopolitan place and gateway to the great continent of Africa. Every year, its timeless atmosphere...

The National Communications Authority of Ghana (NCA) has approved SpaceX Starlink GH LTD, the local subsidiary of the American company, to provide high-speed satellite internet services in the country. In a statement released on April 25, the regulator announced that administrative procedures for the issuance of the operating license are underway and expected to be completed soon. “The...

MVola, 1st first FinTech in Madagascar and part of the responsible pan-African AXIAN group, is expanding its accessibility to all Malagasy with the launch of MVola Fô! This new offering allows every citizen to open an account through the Super App MVola, regardless of their phone number. To do this, simply download the Super App MVola from an Android or iOS smartphone. From there, MVola...

The President of the African Development Bank Group Dr. Akinwumi Adesina has appointed career diplomat Ambassador Jalel Trabelsi as his Special Envoy for the Middle East and North Africa (MENA) and Gulf Region. Ambassador Trabelsi brings to the role over 30 years of experience as a highly accomplished and distinguished diplomat. As Special Envoy for MENA and the Gulf Region, Ambassador Trabelsi...

Servair Abidjan, a company that provides catering and cleaning services for aircraft and the Abidjan International Airport, has proposed a net dividend per share of CFA206.20 for FY2023. This represents a net yield of 15.5% based on the stock's closing price in December 2023, making it the highest dividend payout on the Abidjan-based regional stock exchange (BRVM). Previously, Onatel, a...