Meeting in Abidjan on 13 December 2023, the Board of Directors of the African Development Bank Group approved a loan of $105.19 million to Angola to implement the Agriculture Sector Reform Programme. The programme is intended to strengthen agriculture policy and the business environment to improve food production and contribute to economic diversification. "The Agriculture Sector Reform...

The funds will finance growth-oriented reforms, promote competition in key sectors, encourage sustainable use of natural resources and expand access to health and education services. The World Bank has approved the disbursement of $300 million to support economic growth in Cote d’Ivoire. In a December 8 statement, the lender said the aid is aimed at helping the country achieve...

After initial sanctions and threats of military intervention, ECOWAS appears to be shifting its strategy. The organization is now willing to lift sanctions against Niger, following an agreement on a transition and the release of President Bazoum. ECOWAS is reportedly open to discussing a transition with the Niger coup leaders, as indicated in the final statement released after the 64th summit of...

The Board of Directors of the African Development Bank Group approved loans of almost USD 250 million to Rwanda in Abidjan on 1 December 2023, to improve the population’s access to water and sanitation services. The Sustainable Water Supply and Sanitation Program for Transformation, currently in Phase I, will receive a loan of USD 199.5 million from the Bank, and another of USD 50 million from...

To develop faster, Madagascar will fully liberalize its telecommunications sector. The country’s telecom watchdog, the ARTEC, launched a tender in this framework last week.  Madagascar’s ICT regulator, the ARTEC, will award interested firms with licenses to launch and run public satellite communication networks. Applicants must submit their bids between 28 December 2023 and 28 March...

Vista Group is among the African companies that are taking advantage of Société Générale’s decision to exit more African countries.  Société Générale, the French banking group, sold its subsidiaries in Burkina Faso and Mozambique to the Vista Group, a pan-African banking group owned by Burkinabe Simon Tiemtoré.  The French group announced the full sale in a statement dated...

The ECOWAS Bank for Investment and Development (EBID) extended a line of credit totaling EUR 30 million to MANSA Bank in a ceremony held in Abidjan, Côte d'Ivoire on December 6, 2023. This facility which is exclusively dedicated to SMEs/SMIs operating in the agricultural value chain, will support agribusiness in various ways including transport, storage and processing of agricultural...

The women-focused investment fund Wic Capital has secured a line of credit from UK investor FSD Africa to continue financing women entrepreneurs in Senegal and Côte d'Ivoire. Wic Capital has secured a $1 million loan from FSDAi Nyala Facility, an investment vehicle focused on sub-Saharan Africa. Wic Capital, which is a fund that invests in women-owned businesses in Senegal and Côte...

Despite lifting tariffs on 98% of products from 21 African nations in the past two years, China maintains a trade surplus, with its exports to Africa dominated by finished goods. The State Council's Customs Tariff Commission announced on December 6, 2023, that China will impose zero tariffs on 98% of imports from Angola, Gambia, Democratic Republic of the Congo, Madagascar, Mali, and...

Burkina Faso terminated its military agreements with France after a months-long standoff. Since then, the military leaders in the country have sought other partners to counter the jihadist threat. A few months after breaking off military cooperation with France, Burkina Faso reveals its new anti-terrorism allies. In a speech on the state of the nation delivered last Friday before the...