Home » Archives by category » Finance

Tunisia needs $2.53 bln in external financing next year

Tunisian government needs around $2.53 billion in external financing in 2019 and plans to issue $1 billion in bonds next month to help cover 2018’s deficit, a senior official told Ruters news agency on Thursday. According to Reuters, the sale will be early October. The North African country hopes to have secured by then approval […]

Kenya’s external position is strong – IMF

The International Monetary Fund said Kenya’s external position is strong and it will continue to support its reform efforts through policy advice. Kenya secured a six-month extension for its stand-by credit arrangement of $989.8 million from the fund in March. The second review of the IMF-supported program has not been completed, and the program has […]

Read More

AfDB approves $15 million Equity Investment to boost SME growth in West Africa

The Board of Directors of the African Development Bank has approved a $15 million equity investment in Verod Capital Growth Fund III, a private equity fund that will make investments in high growth middle market companies in Anglophone West Africa including Nigeria, Ghana, Liberia, Sierra Leone and the Gambia. The Fund’s investments will be in […]

Read More

“Evaluating for greater impact of the Africa 2063 Development Agenda”

The Independent Development Evaluation (IDEV) of the African Development Bank opened its biennial Development Evaluation Week on Thursday in Abidjan, Côte d’Ivoire. The two-day event focuses on the contribution evaluation can make to achieving greater development impact through learning from the past. “Learning constructively from past successes, the Bank considers mistakes and experiences critical building […]

Read More

BMCE Bank of Africa, China Africa Business Council Sign Agreement

BMCE Bank of Africa and China Africa Business Council have signed a partnership agreement meant to facilitate and support Chinese investors in Morocco and in Africa. The agreement was signed on the sidelines of the China-Africa Cooperation forum held in Beijing Sept. 3-4 and the Forum on the two sides’ private Sector cooperation held on […]

Read More

Congo seeks Beijing’s help on IMF bailout accord

President of the Republic of Congo Denis Sassou Nguesso will seek Chinese support for its negotiations with the International Monetary Fund about a bailout, a government spokesman told Bloomberg. According to Thierry Moungala, Brazzaville will solicit China’s support during the China-Africa Cooperation Forum to be held in Beijing September 3 to 4. Congo is seeking […]

Read More

Ethiopia inks $1 bln World Bank deal to support reforms

The new reformist Prime Minister of Ethiopia Ahmed Abiy has secured a $1 billion deal from the World Bank to continue the ongoing reforms in the Horn of Africa nation. The deal with the global financial institution had been reached because “of the reforms taking place in the country,” Abiy told the press in Addis […]

Read More

Ghana’s central bank merges five ailing banks

The Bank of Ghana (BoG) on Wednesday announced that it has revoked the licenses of five banks and put them together as Consolidated Bank Ghana Limited. According to the central bank, the move is to create space for the banks to consolidate their operations with the other entities after December 31st 2018. The Governor of […]

Read More

EU Announces New €2 Million Assistance for Refugees, Host Communities in Uganda

The European Union’s Civil Protection and Humanitarian Aid Operations department (ECHO) confirmed last week fresh funding worth €2 million to the International Organization for Migration (IOM) to support refugees and host communities in western and northwestern Uganda. The UN Migration Agency will use the funds to deliver life-saving interventions on Water, Sanitation and Hygiene (WASH) […]

Read More

BRICS bank Okays $600 mln loans for South Africa, China

The BRICS Development Bank has approved loans of $300 million for energy projects in South Africa and $300 million for a transportation project in China. The BRICS group established in 2006 by five major emerging national economies – Brazil, Russia, India, China and South Africa – aims to enhance cooperation between member countries and also […]

Read More