IFC eyes over $2.2bn investments in North Africa this year
The International Finance Corporation (IFC) plans to inject more than $2.2bn in new financing across North Africa this year, covering 10 countries including Egypt, according to Cheick-Oumar Sylla, Director for…
Business
Zanzibar Introduces Digital Loan Platform to Enhance Financial Access for Special Groups
The Zanzibar Economic Empowerment Agency (ZEEA) has unveiled a digital loan system aimed at streamlining financial access for women, youth,…
Zambia Launches New Currency to Celebrate Heritage and Drive Economic Growth
In a historic step towards both cultural preservation and economic growth, Zambia’s Central Bank has officially launched a new series…
IMF Concludes Visit to Senegal, Cites Under-Reporting of Fiscal Data
An International Monetary Fund (IMF) mission has concluded a visit to Senegal, citing significant under-reporting of fiscal deficits and public…
Kenya Requests New IMF Loan Agreement Following Suspension of Existing Program
The Kenyan government has officially requested a new lending arrangement from the International Monetary Fund (IMF), incorporating unused funds from…
Uganda Approves $190M Loan to Compensate Power Distributor Umeme
Uganda’s parliament has authorized a $190 million government loan from Stanbic Bank to compensate electricity distributor Umeme Ltd for unrecovered…
Ethiopia Grants First Investment Banking Licenses in Market Liberalization Push
Ethiopia has issued its first-ever investment banking licenses to two local firms, marking a significant milestone in the country’s economic…
Egypt’s Suez Canal Revenue Falls $800 Million Monthly Amid Red Sea Crisis
Egypt is losing approximately $800 million in monthly revenue from the Suez Canal due to escalating instability in the region,…
Niger Expels Chinese Executives Over Mining Code Violations, Revokes Hotel License
Niger has expelled several Chinese executives affiliated with three major oil companies operating in the country, accusing them of violating…
France Opens Criminal Probe into TotalEnergies Over Deadly 2021 Mozambique Attack
French prosecutors have launched a formal investigation into TotalEnergies over allegations of involuntary manslaughter and failure to assist persons in…
US Approves $5bn Loan to Revive TotalEnergies’ Mozambique LNG Project
The US Export-Import Bank has approved a $5 billion loan to support TotalEnergies’ liquefied natural gas (LNG) project in Mozambique,…
South Africa Commits $54M to Boost Local Electric Vehicle Industry & Attract $1.6B in Private Investment
In a strategic move to solidify its position in the global shift toward cleaner transportation, South Africa has announced it…
Africa’s GDP Growth to Rebound to 3.8% in 2025, UNECA Forecasts
Africa's economic growth is projected to accelerate to 3.8% in 2025 and 4.1% in 2026, according to a United Nations…
