Author: The Editorial Staff

By Claver Gatete, Executive Secretary of the Economic Commission for Africa. While 600 million Africans still lack access to electricity, the continent faces a major energy deficit, especially in rural areas. To achieve the goal of universal access to electricity by 2030, between 70 and 80 million people would need to be connected each year. However, Africa, which represents 17% of the world’s population, only produces 3% of global electricity. This “energy poverty” hinders industrialization, limits progress in health and education, and hampers economic transformation, even as the continent exports uranium and other essential resources for electricity production in other…

The African Development Bank (AfDB) has approved a $474.6 million loan to South Africa to modernize its infrastructure and green projects. This loan, intended for the Infrastructure Governance and Green Growth Program (IGGGP), is expected to help the country intensify its efforts towards a sustainable, low-carbon economy. This amount is in addition to the $1.5...

The Moroccan National Tourism Office (ONMT) and China Eastern Airlines signed a strategic agreement on Monday, June 30 in Rabat to boost the promotion of Morocco in the Chinese market. The agreement was signed during an official ceremony presided over by Fatim-Zahra Ammor, Minister of Tourism, Crafts, and Social and Solidarity Economy, in the presence...

The African Development Bank (AfDB) and the Asian Infrastructure Investment Bank (AIIB) have signed a new memorandum of understanding to strengthen their cooperation in favor of sustainable economic development in Africa. The announcement was made in a statement released on Monday, June 30. This new agreement, signed by the President of the AfDB Group, Akinwumi...

Senegal aims to become a leading technological hub in West Africa through various initiatives, including the Demo Day of the “Challenge+ Dakar” program, whose second edition was held on Tuesday, July 1st in Dakar. Led by HEC Paris, in partnership with the Delegation for Rapid Entrepreneurship of Women and Youth (DER/FJ) and the Embassy of France in Senegal, the event brought together investors, economic decision-makers, institutional partners, and key players in African innovation. At the heart of this 2025 edition were 17 start-ups representing 7 key sectors (education, environment, agriculture, services, culture, communication, and real estate), led by 21 entrepreneurs…

In Morocco, the index of producer prices in the sector of “Manufacturing industries excluding petroleum refining” recorded a decrease of 0.1% in May 2025 compared to April 2025. According to data published on Monday, June 30 by the High Commission for Planning (HCP). This decrease is the result of a 0.7% decrease in prices of...

The African Development Bank (AfDB) approved, on June 27 in Abidjan, a trade financing facility totaling 25.5 million euros in favor of the Banque Générale de Mauritanie (GBM). This initiative aims to strengthen the financing capacities of the Mauritanian bank for the benefit of large companies, SMEs, and women entrepreneurs in the country, according to...

Banque du Caire has announced that its first cumulative equity fund has exceeded the symbolic threshold of one billion Egyptian pounds in assets under management for the first time (approximately $20.2 million). This performance ranks the fund among the largest in the Egyptian market in terms of size and places it in the exclusive circle...

Annual inflation in Kenya remained stable at 3.8% in June 2025, the same rate as recorded in May, but higher than in June 2024. This was revealed in the report on the Consumer Price Index (CPI) published on Monday, June 30 by the Kenya National Bureau of Statistics (KNBS). This moderate increase in prices is...

On July 1, 2025 in Riyadh, the capital of Saudi Arabia, a significant transition took place at the helm of the Arab Bank for Economic Development in Africa (BADEA). After over a decade of leadership, Mauritanian Dr. Sidi Ould Tah handed over the reins to Kuwaiti Abdullah ALMUSAIBEEH. The decision was formalized last April at the annual meeting of the Board of Governors. This handover comes at a time when BADEA is experiencing unprecedented momentum. Since taking office in 2015, Sidi Ould Tah has orchestrated a profound strategic transformation of the institution: tripling of capital, threefold increase in transaction volume,…

In the first quarter of 2025, agricultural activity in the Senegal River valley (North of the country) is marked by an 8.1% increase in credits allocated to producers by the Agricultural Bank (LBA) North Zone for the 2025 hot dry season campaign, according to data from the Directorate of Forecasting and Economic Studies (DPEE) based...

The Agency for the Promotion of Congolese Middle Classes (APROCM) and Access Bank DRC officially signed a strategic partnership of 25 million US dollars on Saturday, June 28 in Kinshasa, aimed at strengthening the financial inclusion of Congolese Small and Medium Enterprises (SMEs), which often face significant challenges in accessing financing. Signed within the framework...

The African Development Bank (AfDB) approved, on Monday, June 30, 2025, financing of over 300 million euros for Morocco, aimed at supporting entrepreneurship, strengthening economic resilience, and improving governance in the face of climate change. This funding, approved by the AfDB Group’s Board of Directors, is divided between two key programs: 181.8 million euros for...

Egypt is about to finalize the privatization strategy for 11 of its airports, including Hurghada International Airport, the country’s second busiest in terms of traffic. Structured as a public-private partnership (PPP), this operation is supported by the technical assistance of the International Finance Corporation (IFC), a member of the World Bank Group. This program is...

From the School of Mines to global connectivity networks… Born in Aioun, in eastern Mauritania, Ibrahima Ba took his first steps in the national education system, between Bassiknou, Atar, Aioun, and Nouakchott. After his baccalaureate, he went to study medicine in Dakar, but then switched to mathematics and physics. The events of 1989 forced him to leave the country to continue his studies in France, where he joined the École Nationale Supérieure des Mines de Saint-Étienne. His final internship took him to the Argonne National Laboratory in the United States, where he worked on superconductivity. He was then hired as…

The International Bank for Industry and Commerce of Benin (BIIC), now listed on the BRVM under the symbol BICB, continues its momentum. According to the financial results for the year 2024, the institution recorded a net profit of 30.3 billion FCFA, an increase of 11% compared to the 27.3 billion FCFA achieved in 2023. This performance confirms the growth momentum initiated by the bank, which reached a decisive milestone in April 2025 with its resounding introduction to the regional financial market. The analysis of the income statement for the year ended December 31, 2024 reveals a banking activity in clear…

On June 30, 2025, Africa Global Logistics (AGL) Congo announces the participation of 6 employees in the Aspire Leaders Program training. This is a high-level training on leadership and professional skills development, aimed at young people aged 18 to 29 and delivered by professors from Harvard University. “The participants undergo a transformative program to become inspiring leaders. It is a rewarding program with a very high level of demand and delivered in English. I am proud of our 6 employees who have been selected alongside young people from around the world. They work within the Finance, Human Resources, and Operations…

The Burkinabe mining sector has just reached a decisive milestone with the production of the first gold ingot from the Kiaka mine on June 26th. This milestone marks the official entry into the production phase of one of the country’s most ambitious mining projects, led by the Australian company West African Resources (WAF). Weighing 5.7...

TotalEnergies, the oil giant, plans to resume operations of its $20 billion LNG project in Mozambique before the end of the year. The company has lifted the force majeure imposed in 2021 due to security issues following insurgent attacks. “Once completed, this $20 billion project will include two liquefaction units with a capacity of 13...

Proparco and Digital Africa have officially launched two new financing programs dedicated to the African tech ecosystem: Choose Africa VC and Digital Africa Seed Fund. This dual initiative, unveiled on June 11, 2025 at the “Quai des Futurs” event, alongside Vivatech, aims to support African start-ups in their growth and enhance the continent’s attractiveness to...

Egypt is taking a new strategic step in the valorization of its mining resources with the launch of a vast industrial complex dedicated to the production of phosphoric acid on the Abou Tartour plateau in the New Valley. This large-scale project, with a total investment of 658 million dollars, marks a major advancement towards high...

The Moroccan economy recorded a robust growth of 4.8% in the first quarter of 2025, compared to 3% in the same period in 2024, according to data published on Monday, June 30 by the High Commission for Planning (HCP). This dynamism is mainly due to the recovery of agricultural production, the strength of non-agricultural activities,...

Guinea has just reached a major milestone in its ambition to become a key player in global supply chains for critical minerals. On Friday, June 27, the Guinea Chamber of Mines and Critical Minerals Africa Group officially signed a “historic” memorandum of understanding (MoU) in London. This strategic commitment aims to attract massive investments and...

The International Monetary Fund (IMF) approved a new disbursement of $448.4 million (equivalent to 326.47 million Special Drawing Rights – SDR) in favor of Tanzania on Friday, June 27. This financial support comes under the Extended Credit Facility (ECF) and the second review of the Facility for Resilience and Sustainability (FRS) agreement. According to the...

The Egyptian economy posted a quarterly growth of 4.77% in the third quarter of the fiscal year 2024/2025, marking its highest level in three years. This performance, announced on June 30 by the Ministry of Planning, Economic Development, and International Cooperation, contrasts sharply with the rate of 2.2% recorded at the same period last year. Over the first nine months of the fiscal year, the average growth stands at 4.2%, compared to 2.4% a year earlier, confirming a strong recovery in activity despite a still uncertain global economic context. According to the Minister of Planning, Dr. Rania Al-Mashat, this progress…

Absa Mauritius, a Mauritian subsidiary of the South African group Absa, plans to increase its green financing to 30 billion Mauritian rupees ($664 million USD) by 2030, up from 8 billion by the end of 2024. This initiative aims to support the climate goals of Mauritius, which has committed to reducing its greenhouse gas emissions...

The European Bank for Reconstruction and Development (EBRD) has chosen Nairobi to establish its first African headquarters, thereby strengthening its commitment to sub-Saharan Africa. The announcement was made on the sidelines of the fourth International Conference on Development Financing held in Seville, Spain, where Kenyan President William Ruto hailed the decision as a lever to...

Eni, the Italian oil and gas group, inaugurated on Saturday, June 28, 2025, a vegetable oil production plant in Loudima, in the Bouenza department in southern Congo-Brazzaville. The industrial installation, named Agri-hub Arturo Bellezza, will produce up to 30,000 tons of vegetable oil per year, from locally grown sunflower and soybeans, mainly by Congolese farmers...

Vista Group Holding announced on June 30, 2025, the completion of the majority acquisition of Société Générale Burkina Faso. The process was initiated in June 2023, as part of Société Générale’s strategy to withdraw from several subsidiaries in sub-Saharan Africa. With this operation, Vista takes control of one of Burkina Faso’s historical banking institutions, strengthening...

Dakar, June 30, 2025 – Fintech Wave Mobile Money, one of the leaders in mobile money in Africa, announced a fundraising of 117 million euros through a loan led by Rand Merchant Bank (RMB). This strategic operation, supported by a consortium of international development financial institutions – including British International Investment (BII), Finnfund, and Norfund – aims to strengthen Wave’s expansion in its key markets and to extend access to digital financial services to millions of underbanked people. Already active in eight countries, mainly in West Africa, Wave aims to consolidate its presence in markets such as Senegal, Ivory Coast,…