Africa Investments 

African Development Fund mobilizes $8.9 billion for Africa’s low-income countries, the highest in its 50-year history

After a year of intense negotiations and a difficult global economic outlook, development partners of the African Development Fund (ADF) have agreed to commit a total package of $8.9 billion to its 2023 to 2025 financing cycle. It is the largest replenishment in the history of the Fund. ADF is the concessional window of the African Development Bank Group, providing grants… Read More
Africa 

Ghana to swap local debt in fight to regain economic stability

Ghana asked investors to exchange around $9 billion in domestic debt for new bonds on Monday (Dec.5) to ease a crunch in payments as the government negotiates an IMF bailout during its worse economic crisis in decades. Finance Minister Kenneth Ofori-Atta said the debt exchange starting Monday would seek to exchange around 137 billion cedis or $9.7 billion in current… Read More
Africa 

This is why Tanzania has cancelled Independence Day celebrations

Tanzania’s president, Samia Suluhu Hassan, has cancelled Independence Day celebrations scheduled for Friday, November 9 and has directed that the budget instead be used to build dormitories for children with special needs. The 61st Independence Day event was to cost $445,000, but the money will be used to build eight dormitories in primary schools around the country. Tanzania’s minister of… Read More
Africa Business World 

Opinion: Can Africa’s startup sector keep up its record funding run amidst global turmoil?

– – Startups have become vital engines of change that can have an outsized impact on an economy. They are crucial in fueling innovation and enhancing economic and digital competitiveness. They improve access to products and solutions while significantly contributing to employment. In recent years, amid global economic volatility and uncertainty, Africa’s startup ecosystem has shown continued growth, attracting record… Read More
Africa 

S.Africa’s Ramaphosa files suit over damning report

South Africa’s president Cyril Ramaphosa has taken a case to the Constitutional Court to overturn a parliamentary report accusing him of a corruption scandal whose findings have paved the way for impeachment proceedings against him. In a document submitted to the supreme court, a copy of which was obtained by AFP on Monday, the head of state demanded that the… Read More
Africa 

Growth of 5.7% in West African Economic and Monetary Union in 2022

The growth rate within the countries of the West African Economic and Monetary Union (WAEMU), amounted to 5.7% in 2022, down 0.4% compared to 2021, announced Monday the leaders of this organization meeting in Abidjan. The eight member countries of UEMOA (Senegal, Guinea Bissau, Ivory Coast, Togo, Benin, Mali, Niger and Burkina Faso) have not been spared by “the deep… Read More
Africa Investments 

Africa Climate Change Fund launches Women and Youth Entrepreneurship Project

The Africa Climate Change Fund (ACCF) Secretariat has launched a scheme to support mechanisms for climate adaptation finance for women entrepreneurs and youth. The scheme, “YouthADAPT: Empowering Women and Youth for Entrepreneurship and Job Creation in Climate Adaptation and Resilience,” will develop innovative, transformative climate-resilient bankable projects aligned with African countries’ Nationally Determined Contributions. YouthADAPT is a flagship program under… Read More
Africa 

South Africa: Parliament postpones vote on Ramaphosa impeachment

South Africa’s parliament decided Monday night to postpone by a week a long-awaited vote on whether to launch impeachment proceedings against President Cyril Ramaphosa, at the heart of a corruption scandal, the speaker of the assembly announced. The vote was originally scheduled for Tuesday, but “we have all agreed on December 13,” said Nosiviwe Noluthando Mapisa-Nqakula, justifying… Read More
Africa 

Sudan: UN welcomes ‘courageous’ military-civilian pact towards democratic future

Signed in the capital Khartoum after months of negotiations following last year’s military coup which derailed the transition, the agreement aims to establish a new constitution. UN Secretary-General António Guterres, said he hoped the signing would “pave the way for the return to a civilian-led transition in the country”, and called on all Sudanese “to work without delay on the next phase… Read More
Social media & sharing icons powered by UltimatelySocial