The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved various financing structures valued at $696.41 million for Burundi and Tanzania to start Phase II of the Joint Tanzania-Burundi-DR Congo Standard Gauge Railway (SGR) Project. The Bank Group's financing is intended to construct 651 kilometers on the Tanzania-Burundi railway line. The work will consist of the development of a single electrified standard gauge track. This will be […]

By Margaret Soi, Head of Offshore Banking - Mass Affluent Offshore The purchasing power of Africa’s middle class is expected to grow significantly in the coming years: the continent’s middle class is expected to spend US$2.1 trillion by 2025 and US$2.5 trillion by 2030, thus creating a further upward momentum in the demand for goods and services. In sub-Saharan Africa alone (excluding South Africa), a 2018 estimate reported over 100 […]

Moving from 2.8 to 2.9, the market exhibits innovation advancements while harboring opportunities for further development in anti-fraud technology; ​​The entry of the Saudi market into the rating boosts the region's average score; Data shows promising DCB potential for Morocco, South Africa, and Egypt, the top countries in this year's ranking; Ivory Coast registers the highest growth in the Index, from 2.4 to 3.1. Evina (www.Evina.com), a cybersecurity for Carrier Billing company and Telecoming (www.Telecoming.com), […]

The United Kingdom’s Foreign, Commonwealth and Development Office has announced nearly $10 million in additional funding to the African Development Bank’s (www.AfDB.org) programme assisting African countries to strengthen resilience and enhance their response to climate shocks. The financial commitment of £7.4 million ($9.63 million) for the Multi-Donor Trust Fund of the Africa Disaster Risk Financing (ADRiFi) programme will bolster sovereign drought insurance protection, with a particular focus on Somalia, over […]

The Board of Directors of the African Development Bank Group (www.AfDB.org) approved a loan of €81.9 million to Tunisia to implement the Treated Wastewater Quality Improvement Project For Climate Resilience Building (PAQEE-RCC) at a meeting in Abidjan on 6 December. To be implemented over the period 2024-2028, the project will improve the treatment of wastewater to make it compliant with the standards for its reuse. It will improve treatment and […]

The African Development Bank Group (www.AfDB.org) and the West African Development Bank (BOAD) signed an agreement on granting a EUR 70 million line of credit to strengthen BOAD’s support to the private sector in the West African Economic and Monetary Union (WAEMU), which comprises eight countries in the West African franc zone. The agreement was signed in Lomé on 8 December 2023, after it was approved by the Bank Group’s […]

Kontinental Energy Services (KES) has partnered with US-based upstream oil and gas corporation Gulfstream Services Inc. (GSI) for the provision of tools and services. The partnership carries the dual aim of strengthening KES’ capacity to support the development of oil and gas across Africa, while facilitating GSI’s global expansion. With activities spanning over 22 countries, GSI offers solutions for the entire well life cycle, supporting drilling, completions, production, well intervention […]

By NJ Ayuk, Executive Chairman, African Energy Chamber (https://EnergyChamber.org/) About a year ago, before COP27 began in Egypt, Fiona Harvey and Matthew Taylor wrote in an opinion piece for The Guardian that it was time for gas exploration in Africa to stop. “Africa must embrace renewable energy, and forgo exploration of its potentially lucrative gas deposits to stave off climate disaster and bring access to clean energy to the hundreds […]

Canon Central and North Africa (www.Canon-CNA.com) proudly announces a successful milestone in its collaboration with Kenyan film and TV production company Zebra Productions Kenya Ltd, with the graduation of the first cohort of students who have completed a rigorous three-month training programme in photography and, videography. This momentous occasion highlights Canon’s unwavering commitment to fostering local creativity and empowering the next generation of photographers, videographers, and filmmakers on the African […]