US EXIM Bank Greenlights $91.5 Million Financing for Senegal's Renewable Energy
The US EXIM (Export-Import Bank of America), has given the green light of a loan guarantee financing of $91.5M to the Republic of Senegal. The funding will boost the West [...]
AfDB Gives $2 Million to WHO's Africa Response
The African Development Bank (AfDB) has approved a $2 million emergency funding for the World Health Organization (WHO) to help African countries fight the COVID-19 pandemic impacts. According to WHO, they [...]Vodacom Cuts Data Prices by Up to 40%
South Africa's Vodacom has cut data prices by up to 40%, while at the same time launching the ConnectU, a zero-rated platform that enables users to access essential services for [...]Rocket Internet Sells 11% Stake in Jumia
German tech investor, Rocket Internet, has sold its 11% stake in Africa e-commerce platform, Jumia. Although the company did not reveal how much they made from the sale, Bettina Curtze, [...]AFC Commits $1.3 Million to Nigeria for COVID-19
The Africa Finance Corporation (AFC) has committed $1.3 million to Nigeria's private sector to help in the fight against COVID-19. The private sector, in conjunction with the Central Bank of [...]Ethiopia Opens Mobile Money Services to Telecoms
Ethiopia's Central Bank announced it will allow non-financial institutions to offer mobile money services. The move will see telecoms venture into the lucrative industry which a study by Ethio Telecom [...]
Somalia’s $1.4 Billion Debt Cancelled by Paris Club Creditors
The representatives of the Paris Club Creditors have agreed, together with the government of Somalia, to cancel 67% of the latter's debt, translating to $1.4 billion. This debt restructuring is [...]Somalia Gains Membership in MIGA
Somalia becomes the latest nation to join the Multilateral Investment Guarantee Agency (MIGA), following normalization of its financial relationship with the World Bank. Somalia is the Agency's 182nd member, thereby gaining [...]Afrexim Bank Unveils Emergency Fund for African Countries
Afrexim Bank (The African Export Import Bank) has set up a $3 billion emergency fund to help African countries survive economic disruptions caused by COVID-19 pandemic. According to Afrexim, the [...]US-Africa Business Summit Postponed over COVID-19
The 13th US-Africa Business Summit, initially slated for 9th to 12th June 2020 in Morocco, has been postponed over concerns of the COVID-19 pandemic. The government of Morocco, in conjunction [...]Moody's Downgrades South Africa Credit Rating to Junk
Ratings agency Moody's downgraded South Africa credit rating to junk' on Friday. The company maintains a negative outlook. South Africa's recession has deepened in the wake of COVID19 pandemic that [...]AfDB Sells $3 Billion Fight COVID-19 Bond
The African Development Bank (AfDB) has sold a three-year $3 billion bond as part of its efforts to offer financial supports to countries and businesses fighting against the global COVID-19 [...]
