Paratus continues to expand its digital infrastructure in Africa. The company recently launched two new fiber optic routes to improve connectivity in Mozambique. It has also announced the construction of a 3rd data center in Angola. Emerging Africa Infrastructure Fund (EAIF) has teamed up with Ninety One, its fund manager, to provide a $31 million loan to Paratus Group Holdings Limited....

AfricaNenda, an independent organization working to develop instant payment systems on the continent, issued a report last November 8 on “the State of the Inclusive Instant Payment Systems in Africa -SIIPS 2023”. The document defines an instant payment system as a payment facility that enables funds transfer and payment confirmation within seconds, 24 hours a day, 7 days a week. They...

In January of this year, Benin adopted a national strategy for artificial intelligence and big data. To implement this strategy, the country is preparing a comprehensive plan. The Benin Council of Ministers has approved the conduct of a feasibility study for " integrating specific basic and continuing training in programming, basic artificial intelligence languages and big data management into...

African Development Bank President Akinwumi Adesina on Thursday pledged greater commitment to the development of cities and stressed the need for increased investment and autonomy for municipalities, the continent’s engine for economic growth. The Bank chief spoke at a high-level forum for mayors titled: “Leveraging Cities and Municipalities for National Development,” held on the sidelines...

The 6th Salon de l'épargne et de l'investissement et du patrimoine kicked off on November 9, in Abidjan. Announced months ago, the forum gathers several stakeholders–VIPs, youths, and experts–to discuss savings, investment, and business creation. The sixth edition of the Salon de l'épargne, de l'investissement et du patrimoine (SEIP) opened in Abidjan, Côte d’Ivoire, on November 9. The...

Between July and August 2023, the number of boats that left the coast of Senegal increased by 114%, according to the International Organization for Migration. Senegal will launch a "great offensive" program to tackle the clandestine emigration of its citizens. The Senegalese Press Agency (APS) recently reported the news, citing Senegalese Minister of Youth, Pape Malick Ndour. According to the...

Morocco’s King Mohammed VI opened the 2023 Africa Investment Forum Market Days on Wednesday with a call for Africans to work together to attract the levels of private investment needed to drive the continent’s inclusive development. From left to right, 1st row: Boitumelo Mosako, CEO, Development Bank of Southern Africa; Olusegun Obasanjo, former President of Nigeria; Jean-Jacques...

While a high proportion of their populations remain unbanked or underbanked, emerging and developing countries in Africa, the Middle East, and Latin America will be the main drivers of fintech sector growth in the coming years. The combined revenue of startups specializing in financial technology (fintechs) operating in Africa is projected to reach $15 to $20 billion in 2028, up...

The increase in country quotas is intended to enable the Fund to mobilize more financing for countries facing a debt crisis, and to better finance the fight against global warming. In a press release issued on Tuesday November 7, the International Monetary Fund (IMF) announced that its Executive Board had approved a proposal to increase country quotas by 50% at its next review, scheduled for...

Khalil Al Americani, CEO of Vodacom DRC, announced the company is currently conducting 5G tests in the country. In a recent interview with ITWeb Africa, the manager said the trial is being carried out under the supervision of the DRC telecom regulatory authority, ARPTC. These tests aim to ensure the telecom operator's readiness for deploying ultra-high-speed internet in the DRC. Khalil Al...