Category: finance

IMF / Sub−Saharan Africa’s Regional Economic Outlook

Growth in sub-Saharan Africa is expected to slow to 3.6 percent in 2023, as a “big funding squeeze”, tied to the drying up of aid and access to private finance, hits the region, announced the IMF today (Friday, April 14, 2023) in a press briefing. If no measures are taken, this shortage of funding may force countries to reduce fiscal resources for critical development like health, education, and infrastructure, holding the region back from developing its true potential “I wish […]

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Africa Finance Corporation acquires Aker Energy ahead of development of the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana

photo Africa Eco Race

Aker Capital AS, 100 percent owned by Aker ASA (together referred to as “Aker”), and The Resource Group TRG AS (“TRG”) have agreed to sell their shares in Aker Energy AS (“Aker Energy”) to AFC Equity Investment Ltd, a company owned by Africa Finance Corporation (“AFC”). Aker today holds 50.79 percent of the shares in Aker Energy, and TRG holds 49.21 percent. The management team of Aker Energy will remain unchanged and will work towards submission of the Plan of […]

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Transform political commitment to action to achieve nutrition targets in Africa, Nutrition Champion urges

photo caption: King Letsie III of Lesotho speaks during the High-level Dialogue on Nutrition Financing held in Maseru, Kingdom of Lesotho; King Letsie III of Lesotho has urged African leaders to translate commitments into action to meet regional and international development targets. The monarch addressed a high-level meeting on financing nutrition hosted by the African Union from 23-24 March. He stressed the urgency for adequate financing to end hunger and malnutrition in all its forms as a prerequisite for achieving […]

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Iconic FIAT Brand Launches in Algeria

        Stellantis announces launch of six FIAT carlines coming to Algerian customers starting March 21: Fiat 500 Hybrid, Fiat 500X, Fiat Tipo, Fiat Doblò, Fiat Scudo and Fiat Ducato Investment contributes to development of the automotive sector in Algeria with a scaled plan covering manufacturing in Tafraoui – Oran of localized FIAT models and development of a robust sales and aftersales commercial network First wave of investments from Stellantis and its suppliers totaling over €200 million to […]

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Huawei and partners to boost digital inclusion in Uganda through DigiTruck project

DigiTruck will provide free digital skills training for more than 10,000 beneficiaries. Ugandan President H.E Yoweri Kaguta Museveni officially launched a new DigiTruck project in Uganda. The project will provide free training in digital skills for more than 10,000 beneficiaries over three years. Launched on March 8 at an event celebrating International Women’s Day (IWD) in Kiruhura District, the DigiTruck project is a part of Huawei’s TECH4ALL initiative, the company’s long-term initiative for driving inclusion and sustainability across the globe. […]

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A New Step for Kenitra Site to Support Growth Plans for Middle East and Africa Region

At the occasion of meetings with the Moroccan Head of Government, the Minister of Industry and Trade, and the Minister Delegate to the Head of Government in charge of Investment, Convergence and Evaluation of Public Policies, Stellantis today announced an over €300 million investment in its Kenitra manufacturing facility aimed at doubling the site’s production capacity and launching the “smart car” platform. This enhanced capacity supports the Company’s growth plans for Middle East and Africa region, as it pushes to […]

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Inflation, Weaker Currencies and Climate Change Top List of Concerns for African Economies, According to New Survey

45% of surveyed CEOs are worried by financial risks,of these, more than 60% are concerned about currency depreciation. The need to adapt to climate change was the second most pressing issue. New survey takes the temperature of business across Africa. Financial risks, including currency depreciation and inflation, is topping the list of challenges facing the 54 African economies in the year ahead. That’s according to a new survey of the continent’s leading insurance professionals, conducted by the pan-African reinsurer, Continental Reinsurance. […]

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African Development Fund extends $3 million in additional financing for Liberia’s Special Agro-Processing Zone scheme

photo: Women selling various grains at a community market in Monrovia, Liberia. The Board of Directors of the African Development Bank Group has approved an additional $3 million of mixed financing for the Special Agro-Industrial Processing Zone project in Liberia. The financing, approved on 12 October 2022, comprises a loan of $2.92 million and an $80,000 grant sourced from the African Development Fund, the Bank Group’s concessional lending arm for the continent’s low-income countries. On 20 October 2021, the African […]

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