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Uganda inks $287 million power deal with China Exim Bank

The Ugandan government has announced that it will borrow $287 million from Exim Bank of China, as part of its electrification process. According to the country’s finance minister David Bahati, the funds will enable electricity supply to 287 settlements in the landlocked regions of the East African nation, as well as the counties of Karamoja […]

Senegal adopts $6.7 billion finance bill for 2018

The Senegalese government has adopted the Finance Bill for 2018 with a budget of 3,709.10 billion CFA francs ($6.7 billion), about 10.4% increase compared to 2017. According to the Council of Ministers, the 2018 budget is oriented towards the main social priorities and privileges expenditures that have direct and immediate impact on the daily life […]

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Sub-Saharan Africa to record slow growth – WB’s Africa Pulse report

Sub-Saharan Africa’s economy is growing more slowly this year than expected, the World Bank said on Wednesday. According to the Bretton Wood institution’s Africa Pulse report, the slow growth of the region is largely due to weak investment and productivity. The Bank said the downgrade to 2017 projections was due to various conditions, including the […]

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Senegal: National revenue records a surplus of 560 billion CFA

Senegal’s economy has recorded a revenue surplus of over 560 billion CFA, data from the West African nation’s office of economic planning, policies and finance revealed. The economy may grow 6.8 percent this year, the most in sub-Saharan Africa after Ethiopia and Ivory Coast, according to the International Monetary Fund. Senegal is one of the […]

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BCEAO projects WAEMU economy to grow 6.9% in 2017

The growth rate of the West African Economic and Monetary Union (WAEMU, or UEMOA as it is known by its French acronym) is expected to reach 6.9%, while at the continental level, the growth rate will stand at around 3%, according to the forecasts of the Monetary Policy Committee of the Central Bank of West […]

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Tanzania’s first quarter growth slows to 5.7 %

Tanzania’s economic growth slowed to 5.7 percent in the first quarter of this year from 6.8 percent previously, the statistics office of the East African nation said on Thursday. Tanzania’s annual GDP growth rate averaged 7% over the past 5 years, making it one of the 20 fastest growing economies in the world and beating […]

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African Development Bank outlook stable – Fitch Affirms

Fitch Ratings has confirmed the African Development Bank’s (AfDB’s) Issuer Default Rating (IDR) rating, keeping it at “AAA” with a stable outlook. AfDB enjoys strong support from its 80 member states, which include 26 non-African countries with high average ratings. Callable capital subscribed by member states rated ‘AAA’, the largest of which are the US, […]

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Benin: China offers $89m to improve drinking water supply

The Chinese government has granted $89 million to the government of Benin for the supply of drinking water in the central region of the country, China news agency Xinhua reports. “This program aims to develop the production and distribution capacities in urban areas, peri-urban, of 11,800 localities without any functional modern water point,” Benin’s Foreign […]

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WB loans to Guinea to amount to $574 Million in 2017

World Bank Vice-President for Africa Makhtar Diop, who has just paid a visit to Conakry July 15-17, confirmed that Guinea will receive $574 million loan from the international financial institution in 2017 to finance over 12 projects in energy, mining, agriculture and infrastructure sectors. Last March the Bretton Woods institution already made available a first […]

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Morocco’s BCP Group Teams up with IFC to Boost Economic Development in Sub-Saharan Africa

Morocco’s Banque centrale populaire group (BCP) and the International Finance Corporation (IFC) signed in Casablanca, last week, a Memorandum of Understanding (MOU) to consolidate their long-term partnership in favor of the economic development and social progress in Morocco and sub-Saharan Africa. Signed by Mohamed Benchaaboun, Chairman of BCP Group, and Serge Devieux, IFC Director in […]

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