The Board of Directors of the African Development Bank Group on Wednesday approved a €101.10 million loan to Kenya to implement the third phase of the Last Mile Connectivity Project. The project will improve electricity access for households, social infrastructure and micro, small and medium enterprises. The project will also benefit from a $13.17 million...

The African Development Bank will mobilize financing for climate action at this year’s UN Climate Change Conference, COP28, and amplify Africa’s calls for robust commitments by wealthy countries to meet the continent’s urgent needs in addressing climate change. The Bank Group, led by its President, Dr Akinwumi Adesina, will launch and cement several climate action initiatives during the...

Terrorist threats have intensified in the tri-border areas between Mali, Niger, and Burkina Faso in recent weeks. Over the past week, armed groups carried out attacks in Burkina Faso's Center-East and Center-North regions. In response to a terrorist attack on the city of Djibo, Burkina Faso, the army reportedly killed more than 400 terrorists, as announced by the Burkinabe presidency in a...

The market for Buy Now, Pay Later (BNPL) in Africa & the Middle East is set to nearly triple by 2028, reaching $28.6 billion, up from $9.9 billion in 2022, according to a report by market research firm ResearchAndMarkets. The latter forecasts an average annual increase of 17.8% in the adoption of this payment method over 2023-2028, driven by the rising penetration of e-commerce in the...

The Senegal government forecasts its budget revenue for 2024 to be 20% higher than that in 2023. According to a statement from the Ministry of Finance, revenue forecasts for next year stand at CFA4,915.2 billion ($8.2 billion), compared to CFA4,096.4 billion in 2023. Total expenditures, on the other hand, are projected at CFA5,755.4 billion in 2024, representing "an increase of CFA613.5 billion...

While some accuse it of economically exploiting its former colonies, France has been forging diplomatic and economic ties with Anglophone African countries in recent years. France’s trade relations in SSA has shifted. Its primary trade partners in the regions are now Nigeria, Angola, and South Africa, according to an official French Treasury document. Nigeria now stands as Paris's leading...

The Burkinabe government is stepping up efforts to fortify the security of the national cyberspace, responding to the swiftly advancing digital transformation and the rapid adoption of electronic communication services, all within the backdrop of an escalating frequency of cyberattacks. In a strategic move, the government, during the Cabinet meeting on November 22, greenlit a pivotal report...

CanalBox initiated its services in the Democratic Republic of Congo in December 2021, currently serving Kinshasa and Goma. Fiber optic internet service provider CanalBox signed a partnership on November 23 with Fast Congo, the entity responsible for operating the Kinshasa-Muanda fiber optic line in DR Congo. The deal will enable CanalBox to enhance its service quality in the country by...

On September 16, Mali, Burkina Faso, and Niger joined forces to establish the Alliance of Sahel States (AES), a response to shared ideals in the face of international economic sanctions following a breach of constitutional order. The Alliance convened its inaugural ministerial summit on November 25 in Bamako, the capital of Mali, bringing together ministers responsible for Economy and Finance...

The International Finance Corporation will support the Kera platform in digitizing healthcare services using AI across the continent. The initiative aims to address the shortage of healthcare professionals and facilities. Kera Health Platforms, a Senegalese e-health platform leveraging AI to aggregate, digitize, and analyze health data, has partnered with the International Finance Corporation...