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The Mauritanian group Maurinvest / Maurilog and the British TVET UK have just created a joint venture whose objective is to help Mauritanian students and executives to improve their knowledge of English. The aim is to enable learners, from children to executives and public decision-makers, to follow a school and university course which will take them to UK establishments. This strategic partnership was initialed by Mohamed Abdellahi Yaha, owner and CEO of Maurilog and Matthew Anderson, MD of TVET UK. The launch of edUKate was made during a webinar bringing together British and Mauritanian education specialists, under the patronage of…

Shelter Afrique has received USD 3,529,801.29 from the Government of Cameroon in additional capital subscription increasing its shareholding by 2% from the current shareholding of 3.61% to the revised shareholding of 5.24%. Cameroon, which recently acceded to the helm of the Institution at the recently concluded 40th Annual General meeting has indeed demonstrated true leadership and commitment to strengthening of Shelter Afrique’s capital base. The Cameroon Minister for Housing and Urban Development, Her Excellency Madame Celestine Ketcha Courtes was newly appointed as President of the Shelter Afrique General Assembly at the Shelter Afrique AGM which was held in Yaoundé, Cameroon…

The Global Health plan addresses the needs of the local market in 19 countries across Africa, and expats across the region, by giving them access to quality, cost-effective healthcare Aetna International, a leading provider of global health benefits, has announced that it has partnered with Sanlam Pan Africa, a premier pan-African financial services group, to launch the Global Health plan — a unique health insurance offering that addresses the healthcare needs of both local and expatriate nationals, on an international basis, across all market segments in 19 countries[1] in Africa. Fully compliant with regulations in all local markets, the plan…

African Export-Import Bank (Afreximbank) has been recognized by Global Trade Review (GTR) as Leader in Trade for Pandemic Support and ranked by Global Finance Magazine, in its annual World’s Best Investment Bank’s list 2021, as the best bank offering Crisis Finance Solutions in Africa in the fight against the COVID-19 pandemic. These recognitions were as a result of Afreximbank’s swift action at the beginning of the pandemic when the Bank launched its Pandemic Trade Impact Mitigation facility (PATIMFA) in March 2020 and the US$1.5bn Collaborative Covid-19 Pandemic Response Facility (Coprefa) in November 2020. PATIMFA played a key role in supporting…

POLITICAL PROGRESS AND STABILITY SEES SOUTH SUDAN OPEN UP ENERGY SECTOR FOR INVESTMENT The Ministry of Petroleum (MoP) of the Republic of South Sudan, is honored to announce the launch of the country’s first Oil Licensing Round. The MoP has identified new exploration blocks with potential hydrocarbons and has compiled crucial data to provide to interested investors, operators and counterparties. According to the new analysis commissioned by the Ministry, approximately 90% of South Sudan’s oil and gas reserves remain unexplored, providing unprecedented opportunities to international investors. The Oil Licensing Round aims to attract interest from a diverse group of foreign…

Vista Bank Group now operates in Burkina-Faso, a strategic point of entry into the WAEMU market  Vista Bank Group (‘Vista’) has closed the deal to acquire BNP Paribas’ majority interest in La Banque Internationale pour le Commerce l’Industrie et l’Agriculture du Burkina (BICIAB) in Burkina Faso. The acquisition adds to Vista’s existing banks in Guinea, Sierra Leone and The Gambia. BICIAB will be rebranded as Vista Bank Burkina. Afreximbank advised and structured the financing of this transaction, which helps to fill the gap created by the exit of international banks from the continent. In addition to enabling Vista to fill this gap,…

The Regional Stock Exchange of West African Monetary Union (BRVM) is now a full member of the World Federation of Stock Exchanges (WFE). Joining eight other African stock exchanges. 0n May 27th, 2021, the WFE Board of Directors, approved BRVM’s full membership application. This admission crowns the efforts of the WAEMU Stock Exchange to pass the various stages to obtain the quality of full member of the most representative organization of Stock Exchanges throughout the world “On behalf of all our members and the WFE Office, I would like to extend a warm welcome to you and your colleagues as…

KARMOL’s first Floating Storage and Regasification Unit (FSRU) has arrived  in Dakar, marking a major step forward in Karpowership’s LNG-to-Power project to supply reliable,  affordable, and cleaner energy to Senegal.  The FSRU travelled from Singapore, where it was constructed in a 50/50 joint venture between Karpowership  and Japanese firm Mitsui OSK Lines, called KARMOL. This is the first completed FSRU from the KARMOL  partnership.  The FSRU, KARMOL LNGT Powership Africa, arrived in Senegalese waters on 31st of May and will be positioned  at its mooring location to commence the commissioning process.  The vessel will connect to a Powership, a floating…

The 2021 Final Conference of The Africa Road Builders – Trophée Babacar NDIAYE will be held on June 24, 2021, by videoconference, on the sidelines of the Annual Meetings of the African Development Bank (AfDB). This final conference of the 6th edition will be devoted in particular to the virtual presentation of the Babacar NDIAYE Trophy. The 2021 Laureate is HE. Muhammadu BUHARI, President of the Federal Republic of Nigeria. He was named the winner following the Inaugural Conference held in Cairo, Egypt on May 19, 2021. As a reminder, this year’s theme is: “Roads and transport for health: actions…

African Export-Import Bank (Afreximbank) is supporting the African Organisation for Standardisation (ARSO) to harmonise standards in the automotive sector in Africa in order to facilitate an accelerated development of the sector across the continent. The harmonised standards are to be adopted by individual African countries, facilitating cross-border trade, under the African Continental Free Trade Agreement (AfCFTA). There are 1432 international automotive standards worldwide largely developed by the International Organisation for Standardisation and the American Society for Testing and Materials. To initiate the process of developing African Automotive standards, ARSO prioritised what are referred to as “Whole Vehicle Standards” encompassing motor…

By Jeff Megayo* In 1953, the State of Kuwait established the world’s first Sovereign Wealth Fund (SWF) to manage the surpluses of its oil revenues. Since then, particularly during the past twenty years, there has been a proliferation of SWFs globally as countries have discovered enormous natural resources and gained significant revenues from them. There are presently over 20 SWFs in Africa, and many other countries such as South Africa and Kenya are creating their own. The performance of most of these organizations is difficult to gauge because of their opacity. Nonetheless, there are existing SWFs that African countries can study…

CWP Global is preparing to build a Power-to-x project of 30 GW or 30,000 MW in Mauritania at a total cost of $ 40 billion, this project is the largest of its kind in the world. The signing of the MoU by Mauritanian Minister of Petroleum, Mines and Energy Abdessalam Ould Mohamed Saleh and Mark Crandall, CEO of CWP Global, was announced today in a statement from the MEPP. Named AMAN, the project will be developed in northern Mauritania on a desert site of approximately 8,500 km². The goal is to create “a stable export vector that will generate thousands…

Cameroon’s Minister of Housing and Urban Development Hon. Célestine Ketcha Courtès to assume the Chairmanship of the AGM Bureau during the Company’s 40th AGM. Kenya’s Transport, Infrastructure and Housing Cabinet Secretary James Macharia who is the current Chairman of Shelter Afrique Annual General Meeting (AGM) Bureau will hand over the mantle to Cameroon’s Minister of Housing and Urban Development Hon. Celestine Ketcha Courtes at the Company’s 40th AGM and annual housing symposium scheduled to take place between 20th – 26th June 2021 in Yaoundé, Cameroon. Hon. Courtes was elected the 1st Vice-Chairperson of the AGM Bureau at the Company’s 39th AGM…

The Youlima Youth Incubator Program award ceremony marked the conclusion of the program’s entrepreneurial training of 30 youths in Bukavu, Democratic Republic of Congo (DRC). The U.S. African Development Foundation (USADF), with catalytic funding from Citi Foundation, launched and created a successful youth business model based on entrepreneurial training leading to income-generating activities across various sectors of the economy.     Action Social et D’Organisation Payssane (ASOP), USADF’s technical partner in the DRC, assessed employers, youth and entrepreneurs to evaluate the skills which would best meet the needs of the community and local economy. After receiving over 300 applications, USADF and ASOP selected a cohort of 30 youths, comprised of 15 men, 15 women, and 5 people living with disabilities. Of those 30 participants, USADF implemented an intensive application selection process to select…

The members of the Selection Committee of The Africa Road Builders – Trophée Babacar NDIAYE met on May 5, 2021 by videoconference, as part of the annual meeting to designate the winner of the Super Prize Great Builder – Trophée Babacar NDIAYE. The meeting was attended by representatives of several media from all sub-regions of Africa. The Selection Committee worked on the basis of the 2021 report made by the Media Network for Infrastructure and Finance in Africa (MIFA). The Selection Committee also took into account the public reports of international institutions and organizations in the field of road and…

The trade finance line of credit will enable UAE exporters to expand in Africa, while giving African buyers access to funds to import goods and services from the UAE; A cooperation agreement is signed alongside the facility to promote trade between the UAE and TDB Member States. Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a USD 30 million (AED 110.19 million) line of credit agreement with the Eastern and Southern African Trade and Development Bank (TDB) to bolster trade between the UAE and the Bank’s Member States. The partnership is…

The Mauritanian Bank for International Trade (BMCI) has partnered with TagPay to roll out its digital bank Masrvi, aimed at providing digital, value-added financial services to its customers. Powered by TagPay, Masrvi was launched at the end of April and responds to Mauritanians’ banking needs by providing secure and accessible banking services, across the country through mobile networks, whilst offering convenience. Masrvi enables BMCI to provide its customers with secure, simple, fast, and easy-to-access banking products and services that can be tailored to their needs, all with a convenience that traditional banks cannot match. Moulay Abbas, President of BMCI says:…

To support the Rwandan health system, the Eastern and Southern African Trade and Development Bank (TDB) is pleased to announce the financing of the expansion of Kigali’s King Faisal Hospital (KFH)’s outpatient facilities with over USD 14 million in a 6-year primary forfeiting transaction. King Faisal Hospital (KFH) is a multi-specialty 160-bed quaternary hospital providing a range of specialized health care in Eastern and Central Africa. In addition to the new outpatient clinic and doubling of the hospital’s outpatient facilities capacity to 45 consultation rooms, TDB’s financing will support the renovation and construction of the outpatient block’s education and research centre, day…

The Southern African Development Community (Sadc) will appoint in August 2021, at the next summit of Heads of State and Government, a new Executive Secretary to replace Stergomena Lawrence Tax whose term expired in August 2020. Indeed, according to the principle of rotation in force in the organization, the DRC is the only statutory member still having its quota intact to submit a candidacy for this position. It is in this context that the Government of the DRC made public on January 21, 2021 through the intermediary of Mrs. Marie Tumba Nzeza, outgoing Minister of Foreign Affairs, the decision to…

The Board of Directors of the African Private Equity and Venture Capital Association (AVCA) is pleased to announce the appointment of Kofo Sanusi as Chief Operating Officer (COO). Kofo joins AVCA from Founders Factory Africa (FFA), a venture development company investing in start-ups in sub-Saharan Africa. As Chief Operating Officer and Accelerator Director, she was responsible for overseeing the company’s financial and operational activities and leading investments and support to early-stage start-ups to scale across Africa. Abi Mustapha-Maduakor, AVCA CEO, said: “Kofo is the right person to support the Association as we implement the strategic vision and continue to deliver…

Kribi Conteneurs Terminal (KCT) received five new yard gantries on 10 May 2021.  With a 50-tonne lifting capacity, the new equipment will further boost the growth in traffic at the Port of Kribi. In 2020, KCT posted a 56.27% increase in handling volumes. The five Konecranes gantries provide KCT with additional handling capacities at the Kribi container terminal. They will optimise the use of the container storage park and improve processing times for trucks unloading and loading containers. The new equipment strengthens KCT’s policy on operational excellence to the benefit of partners, ship owners, road transport firms, and users…

Valletta, Malta. Mediterrania Capital Partners, a private equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is proud to announce that Akdital Holding, one of its partner companies, owns Ain Borja, the Casablanca clinic that assisted the birth of nine babies by a Malian woman. In 2019, Mediterrania Capital III invested in Akdital Holding to help strengthen the group’s foundations and consolidate its leadership while making top-quality healthcare services more accessible to larger portions of the population. Founded in 2011, Akdital began operations with the Jerrada Clinic in Casablanca and since 2018…

Hon. Khadija Mohamed Diriye, Minister of Humanitarian Affairs and Disaster Management, Federal Republic of Somalia with ARC and AU representatives after the signing of the Treaty at the AU Headquarters, Addis Ababa, Ethiopia. The Government of the Federal Republic of Somalia has signed the Treaty and a Memorandum of Understanding (MoU) with the African Risk Capacity (ARC) to work together towards helping the country better prepare, plan and respond to extreme weather events and natural disasters. The ARC Treaty and MoU were signed in Addis Ababa, Ethiopia by Hon. Khadija Mohamed Diriye, the country’s Minister of Humanitarian Affairs & Disaster…

The Tunisian startup specializing in Ed-Tech – GOMYCODE announces is now present in Lagos – Nigeria. Through an educational platform forming the next generation of technological and digital profiles and connecting them with the companies that build the world of tomorrow, GOMYCODE aims to become one of the largest tech and digital communities in Africa and the Middle East. Launched in 2017 by Yahya and Amine Bouhlel, GOMYCODE now has more than 80 talents with diverse profiles among its employees and a network of over 100 trainers across the Hackerspaces of Tunisia, Algeria, Morocco, Bahrain, Egypt, Paris and now Lagos.…

The Tunisian startup specializing in Ed-Tech – GOMYCODE announces its expansion by opening in Cairo – Egypt. Through an educational platform forming the next generation of technological and digital profiles and connecting them with the companies that build the world of tomorrow, GOMYCODE aims to become one of the largest tech and digital communities in Africa and the Middle East. Launched in 2017 by Yahya and Amine Bouhlel, GOMYCODE now has more than 80 talents with diverse profiles among its employees and a network of over 100 trainers across the Hackerspaces of Tunisia, Algeria, Morocco, Bahrain and now Egypt. Based…

The funding will allow the Californian-based startup to develop its computer engineering training solutions for universities, training centers, and companies on the African continent. SAN FRANCISCO, April 15, 2021 – Holberton, making software engineering education affordable and accessible globally, announced today that it has raised $20 million in Series B funding led by Redpoint eventures with new investor Pearson Ventures and participation by existing investors Daphni, Imaginable Futures, Reach Capital and Trinity Ventures.   Holberton works with institutes in several African countries including Tunisia, Madagascar, and Morocco, which have trained thousands of learners. The group’s ambition is to help more than 500,000 students in Africa gain access to first-rate education…

Harvest Asset Management, leader in asset management in the CEMAC Zone, launches the FCP HARVEST ACTIONS CEMAC, the 1st UCITS (Collective Investment Body for Securities) fully invested in local companies listed on the regional financial market and also in companies unlisted established in the CEMAC zone. The purpose of this product is to easily provide investors with long-term capital growth while supporting the economy and businesses of Central Africa. Approved in March 2021 by the central African financial market regulator COSUMAF, the HARVEST ACTIONS CEMAC FCP is a product in the “Equities” category available to any natural or legal person,…

Mr. Serge Ekue, President of the West African Development Bank held today a virtual press conference to review his achievements after the first six months at the helm of the institution. He announced a volume of funding of about XOF3.3 trillion (€5.03 billion) for WAEMU countries as part of  Plan Djoliba 2021-2025. This meeting with journalists from the African, European and international press was an opportunity for President Serge Ekue to go over his achievements in a few figures, to discuss development issues and challenges facing member countries and the Bank’s commitments over the next five years. First 6 months:…

Several thousand tons of fertilizer shipped from Morocco to Ethiopia in these pioneering deals of nearly $ 400 million. The Trade and Development Bank of East and Southern Africa (TDB) and OCP Group, the world’s largest phosphate producer and world leader in the phosphate fertilizer market, are pleased to ” announce $ 400 million in business transactions conducted via blockchain technology, with $ 270 million already executed, with the remainder expected over the next few months. The OCP Group thus becomes the first African company to execute an intra-African commercial transaction using blockchain technology. This transaction helped finance the shipment…

Created on the initiative of Nicolas Jean, partner and member of the executive committee of the law firm Gide, and of the independent consultancy firm for the States Global Sovereign Advisory (GSA), A new ROAD is the first think tank dedicated to public debt African. The think tank is made up of members, of different nationalities, generations and industries, with rich and multiple backgrounds, all united in the service of two common objectives: to change the paradigm concerning the questions of financing of the economies of the continent and to propose a framework reflection on the treatment and structuring of…