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The Board of Governors of the ECOWAS Bank for Investment and Development (EBID) unanimously appointed Honourable Dr. Cassiel Ato Baah Forson, Minister of Finance of the Republic of Ghana, as its new Chairman during the 23rd Ordinary Session held on April 14, 2025, in Banjul, The Gambia. Honourable Dr. Cassiel Ato Baah Forson takes over from the Gambia’s Minister of Finance and Economic Affairs, Honourable Seedy Keita. It should be noted that the Board of Governors, which is the highest decision-making body of the Bank, is composed of the Ministers of Finance and/or the Ministers of Planning of the fifteen…

Banjul, April 14, 2025 – The Board of Governors of the ECOWAS Bank for Investment and Development (EBID) held its 23rd Ordinary Session on April 14, 2025, in Banjul, The Gambia. The meeting, chaired by the outgoing Chairman and Governor for The Gambia, Honourable Seedy K. M. Keita, Minister of Finance and Economic Affairs, was graced with the presence of His Excellency Muhammed B. S. Jallow, Vice President of the Republic of the Gambia who represented His Excellency Adama Barrow, President of the Republic of The Gambia. The Board of Governors, which is the highest decision making body of the…

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03 April 2025 – The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) has approved a total of USD 230 million and CFA Francs 10 billion to finance projects aimed at stimulating development and boosting economic activities in West Africa. The financing package was granted during the 91st Ordinary meeting of the Board, held on Thursday, April 03, 2025, via videoconference, under the chairmanship of Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID. The facilities will be put towards the following projects: The newly approved commitments are aligned with the…

Nairobi, 7 April 2025 — The African Trade & Investment Development Insurance (ATIDI) supported the Republic of Benin’s latest financing transaction, providing a second-loss guarantee for Deutsche Bank’s EUR 507.5 million loan to the country. This milestone transaction reinforces ATIDI’s commitment to unlocking access to innovative financial solutions that enhance economic stability and sustainable development across Africa. The senior unsecured amortizing term loan, arranged solely by Deutsche Bank, is backed by a first-loss guarantee of up to EUR200 million from the International Development Association (IDA), part of the World Bank Group. ATIDI’s second-loss guarantee complements this structure, covering the remaining…

Swazi Tshabalala is the only woman among the five candidates vying for the presidency of the African Development Bank. Of South African origin, she served until recently (October 2024) as the Bank’s Senior Vice President and Chief Financial Officer. If elected, she intends to transform the institution into a development bank that is “bolder, faster, and more inclusive.” Interview conducted in Cape Town by Fazila Dahall, journalist and member of the Financial Afrik Awards Jury. “The African Development Bank must become the best place to build Africa’s future !” What motivates you to run for the presidency of the African…

On 27 March 2025, on World Book Week, the French Institute of Congo (IFC) announced that it now has 13 reading points in Pointe-Noire, as the result of a partnership with Congo Terminal. Over the past three years, this partnership has enabled 29,757 children to have access to books during school and holiday periods. The project began with the observation that many children did not have access to books during the school year, including those on the national education programme. The situation was becoming critical, so the French Institute of Congo set up the mobile libraries. The activity was soon…

Tunisia has signed a Memorandum of Understanding (MoU) with the African Trade Insurance Agency (ATIDI), marking a significant step in the development of its energy sector. This MoU facilitates the introduction of the Regional Liquidity Support Facility (RLSF) in Tunisia, an initiative supported by the KfW Development Bank and the Norwegian Agency for Development Cooperation...

On 6 March 2025, Africa Global Logistics Congo was awarded the best carrier compliance inspection (ICT) performance prize at the 2024 HSE and performance awards ceremony organised by TotalEnergies EP Congo. This is the second award presented to AGL Congo by a major oil company in the country. In 2023, the company was awarded the prize for best logistics operations contractor by ENI Congo. This award follows the carrier compliance audit that Total Energy EP Congo had completed in July 2024. The audit focused on the quality of the rolling stock made available for operations, the behaviour of drivers at…

In 2024, Sanlam Morocco delivers a solid financial performance, marked by a notable improvement in profitability. Net income increased by 5.5%, outpacing the 2.1% growth in revenue, demonstrating effective cost management and a value-driven strategy. The company benefits from a well-balanced revenue stream, with strong contributions from both life and non-life insurance segments. Risk management...

In an unexpected overnight decision, Tunisian President Kaïs Saïed has dismissed Prime Minister Kamel Madouri, who had been appointed in August 2024 following a significant government reshuffle. The presidency announced early Friday that Madouri will be immediately succeeded by Sarra Zaafrani Zenzri, the former Minister of Equipment, while the rest of the government remains unchanged....

The Arab Bank for Economic Development in Africa (BADEA) has successfully completed its issuance of a 750 million euro bond over three years, as part of its Euro Medium-Term Note (EMTN) program. The issuance currency (Euro) targets the Francophone countries of the Franc zone. The bond, regulated under Reg S, was priced at mid-swap +75...

By Dominique Mabika. During a visit to Dakar, Samuel Munzele Maimbo, one of five candidates vying for the presidency of the African Development Bank (AfDB), spoke with Financial Afrik on March 19, 2025. He discussed his reasons for visiting Senegal, his relationship with fellow candidate and “brother” Amadou Hott, and his vision for the future. With the election about two months away, the SADC candidate gave an exclusive interview, sharing his motivations and detailing his program. He expressed his initial actions if elected would include ensuring the AfDB represents the continent appropriately, establishing a youth council, and a private sector…

The digitalization of legal services in Tunisia is a key driver for modernizing administration, streamlining procedures, and enhancing transparency. By automating workflows and improving access to legal services, it empowers businesses, investors, and citizens to gain efficiency and confidence. Juridoc, an innovative platform serving the legal sector Founded in 2021, Juridoc simplifies access to legal resources through a comprehensive database that includes legislation, case law, doctrine, and legal monitoring. Its intelligent search engine, powered by generative AI, enables legal professionals, businesses, and institutions to optimize their work by quickly accessing reliable and up-to-date information.” Already established in Tunisia and Senegal,…

On March 13, 2025, Sidi Ould Tah was received by Congolese President Denis Sassou Nguesso in Oyo, Republic of the Congo. Accompanied by Sid’ Ahmed Ould Bouh, Mauritanian Minister of Economy and Finance, the candidate for the presidency of the African Development Bank (AfDB) secured Brazzaville’s assurance of support for his candidacy. The announcement was made the same day during the 8 PM news broadcast on Congolese national television, which relayed the official message: “Congo supports Mauritania.” Carrying a message from Mauritanian President Mohamed Ould Ghazouani to his counterpart Denis Sassou Nguesso, the Mauritanian Minister of Economy and Finance emphasized…

From 24 to 28 February 2025, Congo Terminal organised the 1st regional Kaizen, bringing together the terminal’s teams as well as business experts and Operational Excellence teams from other Group entities: Benin, Cameroon, Ghana, Côte d’Ivoire, Guinea and Nigeria. The aim is to improve the productivity of terminal tractors and reduce waiting times for gantry cranes. This project is part of Congo Terminal’s many initiatives to improve the productivity of ships and gantry cranes serving its lines. For a week, three teams worked together to solve the three main problems: reducing terminal tractor journey times, reducing terminal tractor waiting times…

The East African Community (EAC) is grappling with a financial crisis for the third time in the 2024/25 fiscal year, as all member states—except Kenya—have yet to fully remit their budget contributions. This shortfall has caused delays in key programs and hindered development efforts. Burundi, the Democratic Republic of Congo, Rwanda, South Sudan, Somalia, Tanzania,...

Awarded by the Board of Governors of FAGACE, this nomination recognizes a fruitful collaboration and a shared commitment to strengthening the continent’s economic integration and promoting financing as a key driver of economic development. This distinction reflects FAGACE’s confidence in CGF BOURSE, particularly its ability to support ambitious projects and create strong synergies among African financial players. According to Dr. Ngueto Tiraina Yambaye, Director General of FAGACE, this nomination is a testament to the institution’s recognition of CGF Bourse for its excellent collaboration. It also reaffirms the trust placed in CGF BOURSE by the highest authorities of the African Guarantee…

Latest Update: Moody’s Enhances Outlook on African Banking Sector Moody’s Ratings has updated its evaluations of African banking systems, noting enhanced economic stability across the continent. The firm now assigns positive outlooks to Nigeria and Egypt, while affirming a stable status for Kenya and the West African Economic and Monetary Union (WAEMU) among others, showcasing...

Claver Gatete, Executive Secretary of the Economic Commission for Africa (ECA), delivered strong calls at various high-level sessions of Ministers of Foreign Affairs and of Finance, emphasizing the critical challenges and opportunities facing the African continent. His remarks underscored the necessity for Africa to assert its voice in global economic governance, particularly at a time when its influence is vital for addressing pressing issues. In his address to the Ministers of Foreign Affairs, Mr. Gatete stated, “South Africa’s leadership during the G20 presents a monumental opportunity for Africa to amplify its voice on the international stage, articulating the aspirations of…

Cape Town, February 28, 2025 – The ECOWAS Bank for Investment and Development (EBID), the European Investment Bank (EIB), with the support of the European Union (EU), today announce a €100 million financial partnership to support climate action and environmental sustainability projects in the ECOWAS region. A project with a considerable impact on populations The EUR 100 million credit line signed under a EUR 150 million envelope is the EIB’s first operation with the EBID. It supports economic development, climate action and environmental sustainability in the ECOWAS region, which fills the financing gap in these areas and contributes to sustainable…

The largest food aid organization, the World Food Programme (WFP) has said that it has been forced to suspend food distribution in the famine-stricken Zamzam camp in North Darfur in Sudan. This follows Sudan’s paramilitary Rapid Support Forces (RSF) multiple attacks on the camp on different occasions to drive the Sudan Armed Forces (SAF) and...

TDB Group is pleased to announce that it has obtained the Green Climate Fund (GCF) accreditation as an African regional direct access entity which will enable the Group to partner with the GCF in the implementation of climate action projects in all its Member States. TDB Group was accredited in the large size category, which qualifies it to execute projects exceeding USD 250 million, as well as those valued below this amount. Likewise, the type of accreditation received will also enable the Bank to implement GCF-funded projects across all levels of Environmental & Social Safeguards (ESS), ranging from the lowest…

Lomé, Togo – The ECOWAS Bank for Investment and Development (EBID) has achieved a significant milestone with its landmark accreditation to the Green Climate Fund (GCF) unlocking new opportunities to support climate change initiatives across West Africa. This remarkable accreditation improves EBID’s ability to finance climate-resilient development across the ECOWAS region, building on its existing sustainability portfolio and green advocacy initiatives. The move positions EBID as a direct channel for global climate funds into critical regional projects. Through this partnership, EBID will expand its capacity to finance infrastructure, renewable energy, and green economy initiatives, ultimately fortifying the resilience of local…

The Federal Democratic Republic of Ethiopia, represented by the Ministry of Finance and Ethiopian Electric Power (EEP), has signed a Memorandum of Understanding (MoU) with the African Trade Insurance Agency (ATIDI), a leading pan-African multilateral trade and investment insurer. This milestone agreement is designed to accelerate Ethiopia’s transition to clean energy by attracting foreign investment into renewable energy projects through ATIDI’s Regional Liquidity Support Facility (RLSF). The MoU establishes a framework for collaboration between Ethiopia and ATIDI, ensuring that Independent Power Producers (IPPs) or Public Private Partnerships can leverage RLSF, a liquidity support mechanism developed by ATIDI in partnership with…

Kasada Capital Management is establishing itself as a major player in hotel development in Africa. With the support of the Qatar Investment Authority and Accor, the private equity platform is working to transform the continent’s hotel landscape through strategic investments, cutting-edge expertise and a strong commitment to sustainability.  With a portfolio of 20 hotels across seven countries, Kasada is responding to the challenges of a rapidly changing sector by focusing on innovation, standardization and social impact. Its commitment to ESG standards and its partnership with major events, such as CITHA 2025, confirm its key role in the development of modern…

The United Nations Development Programme (UNDP) and leading carbon data platform Sylvera have launched a partnership at the margins of the 38th African Union Summit to provide better access to carbon market insights for African countries. The Carbon Data Access Partnership (CaDAP) will provide comprehensive data on carbon projects via Sylvera’s carbon data platform, giving participating countries’ governments access to insights on over 21,000 projects. The partnership will enable African government officials to have full sight of existing and planned carbon projects within their territories. By facilitating access to data, the initiative intends to empower countries to engage more effectively…

Djibouti’s finance minister Mahmoud Ali Youssouf has won by majority the  African Union commission chairmanship at a summit held in Addis Ababa, Ethiopia.  Mr Youssouf defeated Kenya’s Raila Odinga who withdrew in the sixth round of the votes.  Raila, a former prime minister from Kenya, won the first two rounds of voting but lost the next three to Mahamoud Ali Youssouf. Raila received 20 votes in the first round, while Mahamoud received 18 and Richard Randriamandrato of Madagascar secured 10 votes. There was one vote that abstained. In the second round, Mahamoud secured 22 votes, while Raila received 19 and…

AdiwaleFundIannounces itsinvestmentin Jus Délice, the leading West African producer of organic pineapple juice and concentrate, based in Togo. This investment will enable the financing of a new production line and the exit of Moringa, a fund established by Edmond de Rothschild, and a majority investor in the company since 2018. Through this transaction, Adiwale Fund I will support Jus Délice’s efforts to meet the growing demand from its international customers, particularly in Europe and North America, whose customers show increased interest in organic pineapple juice. The fund will help strengthen management, consolidate environmental standards and improve operations to ensure that…

In a move to bolster private sector growth and support Small and Medium-sized Enterprises (SMEs) in Côte d’Ivoire, the ECOWAS Bank for Investment and Development (EBID) has approved a XOF 10 billion (approximately USD 16.3 million) line of credit to the Banque Sahélo-Saharienne pour l’Investissement et le Commerce (BSIC-CI SA). The agreement was formalised during a signing ceremony held on Monday, January 27, 2025, in Abidjan, Côte d’Ivoire. This strategic financing facility is designed to empower SMEs operating in key sectors critical to Côte d’Ivoire’s economic development, including agriculture and agro-industry, industry, infrastructure, transport, and services. By providing access to…