Africa Investments 

Public procurement in Mauritius shows progress, but room remains for improvement — African Development Bank assessment

Mauritius has made critical strides in its public procurement system, but additional reforms are needed, according to an assessment report the African Development Bank released to the government on Tuesday. African Development Bank Director of Fiduciary Services and Inspection, Frank Mvula, said that following presentation of the report, the next step  should be the development of a detailed action plan… Read More
Africa 

South Africa president rejects state funeral bid for rapper AKA

South Africa’s President Cyril Ramaphosa, has rejected a request for the murdered rapper, Kiernan ‘AKA’ Forbes to be given a state burial. During his time alive, AKA held the country at heart and was one of the few celebrities who fought against xenophobic attacks in the country. It is against this background that Gauteng’s premier Panyaza Lesufi had written to… Read More
Africa 

Mozambique pastor dies attempting to emulate Jesus’ 40-day fast

A 39-year-old pastor from Mozambique died on Wednesday after attempting to replicate Jesus Christ’s biblical accomplishment of fasting for 40 consecutive days straight without food and water. Francisco Barajah, the founder of the Santa Trindade Evangelical Church and a French teacher in the town of Messica bordering Zimbabwe had fasted for 25 days before he was rushed to hospital by… Read More
Africa Investments 

Dakar Financing Summit: African Development Bank is lead financier of PIDA infrastructure projects

The African Development Bank has provided over 50% of financing secured by infrastructure projects under the Programme for Infrastructure Development in Africa (PIDA), making it the lead financier of this strategic pan-African initiative. Over 17 flagship infrastructure projects were showcased at the Dakar Financing Summit 2 (DFS2) which concluded on 3 February in the Senegalese capital. Under PIDA, the bank… Read More
Africa Investments 

AfricaGoGreen Fund closes $47M in new equity investments to advance climate resilience in Africa

The AfricaGoGreen Fund (AGGF) has made headlines today with the announcement of its successful second fundraising close, securing $47 million in combined investments from top financial organizations, including the International Finance Corporation (IFC), the African Development Bank (AfDB), the Nordic Development Fund (NDF), and the Sustainable Energy Fund for Africa (SEFA). The funding will allow AGGF to broaden its financing… Read More
Africa 

Nigerian president moves to try to ease cash crisis

Nigeria’s President Muhammadu Buhari on Thursday defended a currency swap that sparked protests and cash shortages, but ordered old, small denomination 200 naira notes to remain in circulation in a bid to ease scarcities. Nigeria has been struggling with a shortage in physical cash since the Central Bank of Nigeria (CBN) began to swap old bills of the local naira… Read More
Africa 

Opposition leader detained as Senegal tensions rise

Senegalese opposition politician Ousmane Sonko was forcibly removed from his vehicle by security forces Thursday after his supporters were dispersed by teargas, in a new bout of tension ahead of presidential elections due next year. The incidents took place after the postponement of a politically-charged trial that may determine Sonko’s eligibility for upcoming presidential elections, whose date was also announced… Read More
Africa 

South Africa’s looming energy crisis could plunge economy into darkness

In this episode: South Africa’s energy crisis is holding back growth just as the continent’s most industrialised economy hopes to recover from the Covid-19 pandemic; a new partnership aims to make it easier for SMEs to obtain bank loans in the DRC; four African countries advance in the 2023 edition of the Emerging Markets Logistics Competitiveness Index. South Africa’s economy… Read More
Africa 

Horn of Africa: $84 million appeal to support migrants along risky route to Yemen

The Regional Migrant Response Plan, launched this week, will address the dire needs and protection risks facing people along the treacherous Eastern Route towards the Arabian Peninsula.  Other objectives include scaling-up delivery of lifesaving and resilience-building initiatives and implementing long-term sustainable solutions for both migrants and host communities.  Dangerous journeys  The Eastern Route is one of the busiest, most complex… Read More
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