Author: Editor

United Nations Under-Secretary-General and Executive Secretary of the Economic Commission for Africa (ECA), Vera Songwe, has stepped down, effective 1 September 2022, after five years of dedicated service to ECA and its Member States. Announcing her decision to step down during a town hall meeting on 22 August, Ms. Songwe thanked ECA staff for their team spirit and support during her tenure. “It has been a privilege to work with you and serve the whole UN system. I cannot express enough my appreciation for the support, encouragement, guidance, patience, and friendship I received throughout these years from you,” said Ms. Songwe. …

President Macky Sall’s bold leadership is vital for accelerating global action on climate adaptation ahead of the Africa Adaptation Summit on 5 September 2022, Dr. Patrick Verkooijen, CEO of the Global Center on Adaptation said in closing remarks at the Presidential Palace in Dakar, after a high-level meeting on Wednesday hosted by President Macky Sall of Senegal, Chair of the African Union. The Africa Adaptation Summit will convene global leaders at the headquarters of the Global Center on Adaptation (GCA) in Rotterdam, Netherlands, marking a milestone leading into the landmark ‘African COP’ at Sharm El-Sheikh in November. At the Summit,…

At the conclusion of the 8th Tokyo International Conference on African Development (TICAD 8) hosted in Tunisia, the United Nations Development Programme (UNDP) welcomes a comprehensive package of support from Japan to drive economic growth, digital innovation, green transition and create jobs as the continent grapples with a series of challenges that threaten to undo many of the development gains achieved in recent years. “The impacts of the global food, energy and finance crises are rippling through communities across the globe. These cost-of-living spikes are having a particularly pronounced effect on the Continent of Africa where millions of people now face…

Between 8 March and 25 July 2022, the Bolloré Transport & Logistics subsidiaries in Morocco, Mauritania and Mali pooled their expertise to organise a convoy of 30 trucks from Casablanca in Morocco to Bamako in Mali. This intra-African road transport operation, organised on behalf of an industrial group in the beverage industry, was completed in under two weeks over a distance of nearly 3,800 kilometres. The trucks arrived by ship at the Port of Casablanca before being transported to the customer’s site in Sénou in the suburbs of Bamako, having transited through Mauritania. The Bolloré Transport & Logistics teams were…

Over 1,500 delegates from 93 countries already registered for ACTIF2022 Bridgetown/Cairo, 30 August 2022 – The first-ever AfriCaribbean Trade and Investment Forum (ACTIF2022), being held at the Lloyd Erskine Sandiford Centre in Bridgetown, Barbados, from 1 to 3 September, will hear addresses from Barbados’ Prime Minister Hon. Mia Amor Mottley; President Chandrikapersad Santokhi of Suriname, Chairman of CARICOM; and Hon. Amadou Hott, Minister of Economy, Planning and International Cooperation, Republic of Senegal. They will be joined by a stellar cast of high-level speakers, including H.E. Professor Benedict Oramah, President and Chairman, Board of Directors of African Export-Import Bank (Afreximbank); H.E.…

The Islamic Solidarity Fund for Development (ISFD) has developed its new 2030 transformation strategy and identifiedHuman Capital Developmentas a core pillar for poverty reduction. On 8th of August 2022, Islamic Development Bank (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser, approved a US$ 41.7 million new project in Burkina Faso of which ISFD will contribute US$ 10 million in concessional loans. The project’s development objective is to support increased access of out-of-school boys and girls to gender-responsive, quality, and inclusive education. The program, focusing on those aged 9-12, covers Speed Schools which provide an accelerated education program as…

On 19 August 2022, SITARAIL took delivery at the Port of Abidjan of a new tamping-levelling-lining  machine worth 2 billion CFA francs (more than €3 million), for maintenance on the railway between Côte  d’Ivoire and Burkina Faso.  Presented at the recent International Exhibition for Track Technology (IAF) in Münster, Germany, this innovation is essential for positioning rails correctly and detecting infrastructure failures in order to restore the best possible track parameters. Designed by Austrian company Plasser & Theurer, the world leader in railway technology, this next generation equipment enables sleepers to be processed at a higher rate, and allows for…

Bolloré Logistics announces that it joined the Shippers’ Coalition for Low Carbon Maritime Transport last July. This association represents shippers whose goal is to encourage the industrial use of alternative propulsion solutions, such as wind-assisted propulsion1. Through this membership, Bolloré Logistics is providing its support to solutions that use wind-assisted propulsion, which drastically reduces CO2 emissions. The company is also signalling its determination to expand its range of services after the launch of SEAalternative2in 2021 to promote a sustainable supply chain. “Bolloré Logistics is a leader in global maritime transport. That is why it is essential that we play an …

23 August, 2022 – Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has today announced the launch of a crypto education hub in Yaoundé, Cameroon, in collaboration with Inoni Tech, a non-profit tech hub providing resources and trainings for young people across Francophone Africa. This is a first-of-its-kind crypto hub and will be a training center for in-person blockchain education sessions. Through this hub, Binance will equip crypto enthusiasts with more resources to thrive within the ecosystem as well as foster offline connections.  Located in the neighborhood of Bastos, 300 meters away from the Restaurant The Famous, the…

African Export-Import Bank (Afreximbank) has announced that Japan Credit Rating Agency (JCR) has affirmed its long-term issuer rating of A- and maintained the “Stable” outlook. The affirmation of Afreximbank’s issuer rating is testament of the Bank’s ever strengthening credit profile and positions to continue to expand and escalate its interventions in Africa, in whose long-term economic development it plays a pivotal role. JCR Rating Agency noted, in its assessment, the strategic role that Afreximbank’s current Sixth Strategic Plan (2022-2026) plays towards the Bank’s fulfilment and deliverance of its mandate, as well as its crucial work in support of initiatives aligned…

Recognition of the Fund’s 20-year track record mobilising long-term blended finance to deliver transformative infrastructure in sub-Saharan Africa.Rating affirms EAIF’s strong capital position, moderate leverage, diversified portfolio, and strong shareholder base.  Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF or The Fund), today announced that Moody’s has assigned EAIF a foreign currency long-term issuer rating of A2 with a stable outlook. EAIF mobilises public and private debt capital to deliver transformative infrastructure in sub-Saharan Africa. Since its establishment in 2001, up to December 2021, EAIF has closed 90 projects for a total investment of $2.1 billion, and mobilised…

Conspiracy inflation decreases conspiracy net worth… The president of the Malian transition has made one-upmanship with the international community his favorite hobbyhorse. It is a negotiation technique that consists of brandishing the absurd to get your interlocutor to renounce demands based on the rule of law. Thus, vis-à-vis the United Nations mission in Mali, MINUSMA, which intervenes in Mali on the basis of a UN resolution negotiated by his country, the strong man of Kati obtained, at least on paper, that henceforth each take-off of an aircraft is signaled beforehand. To neutralize ECOWAS, bent on a timetable for the return…

· Mr. Thierno-Habib Hann brings to the Company over 20-years experience in housing finance, capital markets and structured finance. Nairobi-based pan African housing development financier Shelter Afrique has appointed Thierno-Habib Hann as the new Chief Executive Officer to succeed   Mr. Andrew Chimphondah who left the company early this year. Mr. Hann currently serves as the Asia/Pacific Lead for housing finance at the International Finance Corporation (IFC), based in Bangkok, where he leads the strategy development and implementation of the housing finance program with a portfolio of over USD 2 billion. He previously held a similar position, in charge of Africa and the…

President Macky Sall is going to Mali this Monday, August 15, 2022, 72 hours after the 49 Ivorian soldiers detained for more than a month were charged and imprisoned for “undermining state security”. Bamako thus sets the bar high for negotiating with Côte d’Ivoire openly accused in a case, which is incredible: an attempt at destabilization according to the military garrison of Kati, headquarters of the junta. A story sewn with white thread, according to experts who follow the file closely. Abidjan believes that these soldiers treated as “mercenaries” by Bamako are regularly registered in the workforce of the Ivorian…

The Economic Commission for Africa (ECA) hosted an expert group meeting to discuss the development of African carbon credit markets, in particular building on work that ECA has led to support the creation of  a regional carbon registry and a harmonized protocol for issuance of carbon credits for countries of the Congo Basin Climate Commission. The session formed part of the “African Roundtable on Initiatives to Accelerate Climate Action and Advance the SDGs” from 2-4 August 2022. The Expert Group Meeting brought together experts from the Congo Basin Climate Commission to move forward with the project to establish as high integrity registry…

437 billion FCFA transferred to investors (667 million euros) Good news for investors holding debt securities of Mali on the financial market of the West African Economic and Monetary Union (WAEMU). The Ministry of Economy and Finance of Mali informed investors and technical and financial partners by a note dated August 12, 2022 that “all unpaid external debt, market debt by syndication and by auction , of the State of Mali has been settled”. These settlements restore confidence between Bamako and its creditors. It is 6 months of arrears that have just been paid off. In detail, the Public Treasury…

Terminal Roulier d’Abidjan (TERRA), which provides of handling and activities related to  ro-ro ships at the Port of Abidjan, received the “Green Terminal” label issued by Bureau Veritas. This  attests to the significant reduction in the environmental impact of its activities.  TERRA has been committed to this certification process since October 2021, focusing its efforts around a number of aspects: in particular, employee awareness of and involvement in environmental issues, implementing actions to reduce paper and plastic waste, optimising water and energy use, and sound management of the allocation of handling equipment. “TERRA is proud to receive the Green Terminal…

Visa Inc. (NYSE: V), the leading global payments technology company, has outlined its commitment to expanding digital payments in the Democratic Republic of Congo by establishing local business operations and working closely with the government and financial ecosystem to bring the benefits of digital payments to consumers, merchants and partners. Visamarkedthe official opening of its Kinshasa office and a series of partnerships in the Democratic Republic of Congo during a visit by Al Kelly, Visa’s Chairman and Chief Executive Officer. With only a quarter of the DRC population estimated to be included in the financial ecosystem, Visa brought together stakeholders …

The research, carried out by crypto price tracker CoinGecko, examined Google Trends data of search terms frequently used by people interested in cryptocurrency. These terms were then combined to give each English-speaking country a ‘total search score’ to discover which countries have been the most interested in cryptocurrency since the market crash in April 2022. The study revealed that Nigeria ranks highest as the country most curious about cryptocurrency since April this year. With a total search score of 371, Nigeria topped the list for its population having the highest search levels for the phrases ‘cryptocurrency’, ‘invest in crypto’ and…

Africa Development Solutions (ADS) Group, a high-impact pan-African multinational active in more than 20 countries and 7 sectors, officially launched its subsidiary West Africa Commodities (WAC) dedicated to the trading and processing of agricultural products. Committed to the local transformation of African resources, the Group’s ambition is to become a major player in the trading, production, and sale of raw materials in West Africa. Based in Côte d’Ivoire, one of the continent’s agricultural powerhouses, West Africa Commodities (WAC) is a joint venture between ADS Group and Prime Prestige Import-Export, a company founded by Ivorian agribusiness entrepreneur Mohamed-Adnane ACHIROU. It aims…

The Eastern and Southern African Trade Fund (ESATF) is an open-ended collective investment fund domiciled in Mauritius and regulated by the Financial Services Commission (FSC). The fund was launched in 2019 to advance trade-led economic and social development via the financing of short to medium-term trade transactions in TDB Group member states and other select African economies, including those of SMEs. ESATF is managed by Eastern and Southern African Trade Advisers Limited (ESATAL), a fund manager also regulated by FSC, which until recently, was jointly owned by the Eastern and Southern African Trade and Development Bank (TDB) and GML Capital LLP (GML…

On Thursday 30 June 2022, the Union of the Comoros and Moroni Terminal signed the amendment to  the concession agreement for the Port of Moroni container terminal.   The amendment was signed by Bianrifi Tarmidi, Minister of Maritime and Air Transport, Mzé Abdou  Mohamed Chanfiou, Minister of Finance, Budget and Banking, and Ahmed Ali Bazi, Minister of  Economy, Industry, Investments, and Economic Integration, of the one part, and by Olivier De Noray,  Managing Director of Bolloré Ports and Terminals, of the other part.  The amendment to the agreement provides for the implementation of a 5 billion Comorian franc (CF) investment plan…

On 2 July 2022, Bolloré Transport & Logistics Cameroon shipped 18,000 tons of cotton by conventional cargo handling from the Port of Douala on the vessel Asian Pearl. This cargo is intended to be exported to India. The Société de développement de coton (Sodecoton) and the Société cotonnière du Tchad (CotonTchad) – both specialising in cotton production – awarded this project through Olam Agri, a subsidiary of Olam International, which is one of the world’s largest groups in agri-business. Before reaching the Port of Douala, the cotton bales were transported by truck along the Moundou Douala and Garou-Douala corridors and…

Global broking business, Brokerslink, has continued the expansion of its global network in Africa with the addition of four new independent broking affiliates across the continent from Burkina Faso, Gabon, Sierra Leone and Niger, as well as Pan-African asset valuation expert, Roux Afrique. The four new broker affiliates, each representing high-quality broking expertise in their respective countries and beyond, are: La Grande Agence (LGA), headquartered in Burkina Faso, LGA uses its local expertise and over two decades of experience to guide its clients towards the best insurance products and services available in the country.La Ruche Excellence is an insurance broker that has…

Trade Access Program (TAP) is launched with US$ 25 million capital from British International Investment (BII).The program aims to strengthen trade across Africa by backing the growth of small and medium-sized enterprises (SMEs), AgriTech, FinTechs and Alternative Trade Financiers.The program qualifies under the 2X Challenge, with 10 per cent of the capital targeting Gender and 10 per cent Climate transactions. The Investment Purpose The Africa-focused Trade Access Program (“TAP”) managed by INOKS Capital was launched in April 2022 with an initial capital of US$ 25million from British International Investment (BII), the UK’s development finance institution and impact investor. The program is…

01Talent Africa, in partnership with Atos, launches its very first Zone01 in Africa. It is being set up in Dakar, Senegal, and will offer a brand-new kind of digital training to as many people as possible. This new collective intelligence center will welcome several hundred young talent from Senegal in the Atos offices in Cité Keur Gorgui in Dakar. This initiative is part of a strategic partnership that aims to accelerate the digital transformation in Africa, by enabling the massification of world-class digital skills through an innovative and inclusive training of excellence on the continent. 01 Talent Africa and Atos…

Gelsomina Vigliotti confirms EUR 600 million EIB backing for Line 3New Cairo Metro line represents the EIBs largest transport investment in AfricaVice President emphasises importance of sustainable transport for climate action European Investment Bank Vice President Gelsomina Vigliotti today joined Egyptian leaders and international financing institutions at the formal inauguration of the new Cairo Metro Line 3 at Adly Mansour Station. “The European Investment Bank congratulates all those whose hard work over the last decade to enable today’s inauguration of a new section of the Cairo Metro Line 3. The European Investment Bank is pleased to have provided EUR 600…

At their 134th Meeting held on June 13, 2022, the Board of Directors of African Export-Import Bank (Afreximbank) has renewed their approval of a US$1 billion facility to operationalise the African Continental Free Trade Agreement (AfCFTA) Adjustment Funds. It also approved a Grant Funding in an amount of US$10 million to seed the Base Fund of the AfCFTA Adjustment Funds. Afreximbank and the AfCFTA Secretariat were mandated by the AfCFTA Council of Trade Ministers and the African Union Heads of State and Government to establish and operationalise the AfCFTA Adjustment Funds, which consists of the Base Fund, the General Fund, and…

Afrikamart, the leading agritech West African start-up is announcing the closing of a USD$850,000 seed round of financing from leading venture capital groups including the BLOC Smart Africa fund managed by Bamboo Capital Partners, Orange Digital Ventures, Launch Africa and Teranga Capital.  The proceeds from the financing will allow the company to ramp-up its purchases from smallholder farmers across the country and efficiently manage the logistics and last mile delivery of 14 fresh types of vegetables directly to street vendors and small retailers, restaurants and hotels in Dakar and Mbour. By doing that, Afrikamart will create efficiencies, enhance information and trust…