This initiative strengthens the longstanding partnership between the Senegalese bank and Proparco. French private sector financing institution in developing countries, Proparco, announced on Friday, November 17, the provision of a portfolio guarantee to the Senegalese subsidiary of the French banking group Société Générale. According to information made available, the guarantee will cover...

Ecofin Pro's Journal of Transactions has been collecting and storing information on private financing in Africa (excluding bank credit and financial markets) since 2017. It now enables a comprehensive overview of this sector, encompassing various aspects such as resources provided by development finance institutions, private equity firms, and venture capital. This databank is more about the...

After facing limitations in bilateral development cooperation with Germany due to its socio-political situation between 2002 and 2011, Côte d’Ivoire now enjoys a partnership aimed at promoting reforms as part of the G20's "Compact with Africa" initiative, launched in 2017. The Ivorian presidency issued a statement on November 19 saying Côte d’Ivoire will sign a new financing partnership...

Benin’s government aims to accelerate the country's digital transformation, positioning it as a key driver of socio-economic development. A budget of CFA31 billion FCFA was allocated to the Ministry of Digitalization for FY2023. Benin’s government is pursuing its digital transformation ambition. For FY2024, the government is planning to allocate up to CFA24.3 billion ($40.5 million) to the...

The health sector remains a major development challenge for Senegal. According to the government, the Universal Health Coverage (UHC) program launched in 2015 has increased health insurance coverage from 20% to 75% between 2015 and 2023. Senegal’s parliament approved a health budget of CFA271.62 billion (over $452 million) for FY2024. Official information relayed by the Senegalese Press...

A study by the German organization MISEREOR found that Africa stands out as the continent most targeted by large-scale land acquisitions. As land issues play a crucial role in the continent's development, they take center stage at the CLPA 2023. The fifth edition of the Conference on Land Policies in Africa (CLPA) commenced on Tuesday, November 21, 2023, at the headquarters of the African Union...

The Board of Directors of the African Development Bank Group has approved a $10 million equity investment in Dhamana Guarantee Company Limited to support the use of capital markets as an alternative source of long-term funding for infrastructure and the real sector in East Africa. Dhamana will be domiciled in Kenya as a limited liability company with a regional mandate to provide credit...

The ECOWAS Bank for Investment and Development (EBID) has signed an agreement with WEMA Bank Plc, Nigeria providing a USD50 Million line of credit to support Small and Medium Enterprises (SMEs) in the agro-business sector in the Federal Republic of Nigeria. The signing ceremony took place on November 20th , 2023, at the Bank’s Headquarters in Lomé, Togolese Republic. In his address, Dr George...

Cameroon has postponed its $333.2 million international bond issuance until 2024, as revealed by Fitch Ratings in its latest creditworthiness analysis. This decision aligns with a proactive debt management strategy, responding to negative assessments by rating agencies and the commitments made by the International Monetary Fund (IMF). Fitch Ratings' recent analysis on Cameroon's solvency...

As of September 30, Burkina Faso grapples with an estimated budget deficit nearing $900 million, as revealed in an official statement following the Council of Ministers' meeting published on Wednesday, November 15. During the specified period, the country mobilized $3.5 billion in budgetary revenue, falling short of the $4.5 billion projected in the revised budget. Meanwhile, both...