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Africa/Football: Cairo to host CAF headquarters for another decade

The Confederation of African Football, CAF, will remain in the Egyptian capital of Cairo for 10 additional years following an agreement with the Egyptian government. The deal provides the African football governing body several advantages including diplomatic status. “The agreement recognizes the international legal personality of CAF as an international non-governmental organization,” CAF said in […]

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Oil-rich Equatorial Guinea gifts China $2m to fight coronavirus outbreak

The government Equatorial Guinea has announced that the oil-rich country is to donate $2m to aid its “sister nation” China as it battles the coronavirus outbreak that has so far killed 636 people. The decision was made at a cabinet meeting on Tuesday and is intended as a show of “support and solidarity” to one […]

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Africa’s economy to grow despite external shocks – AfDB

Africa’s economic growth is forecast to rise to about 4% this year and next year from 3.4% in 2019, driven by infrastructure investments and natural resource exports, the African Development Bank (AfDB) said. The forecast which is roughly at the same level as that estimated by the institution for the year 2018, was driven by […]

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Ethiopia: New investment law to attract FDI

Ethiopia has passed a new investment law on Thursday as part of the Horn of Africa nation’s economy and drive progress toward a middle-income status. According to the new law, banking, insurance, micro-credit and micro-saving services will be reserved for domestic investors. The country’s banking sector, dominated by the two oldest and most profitable institutions […]

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Moroccan banks lower interest rates for SMEs

Moroccan banks lower interest rates for SMEs

In implementation of King Mohammed VI’s instructions to make the banking system conducive to development, a program was unveiled by the central bank, the Ministry of Economy & Finance and commercial banks to facilitate access to loans for small and medium sized enterprises, self-employed, young graduates as well as to promote financial inclusion and help […]

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Somalia, world’s most corrupt nation – Report

Transparency International has released its annual Corruption Perceptions Index (CPI) this week and Sub-Saharan Africa is perceived among the most corrupt regions with an average score of 32. Overall, more than two thirds of the world’s countries – along with many of the most advanced economies – are stagnating or showing signs of backsliding in […]

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IFC loans Casablanca region $100 mln to fund infrastructure projects 

The International Financial Corporation, an offshoot ofthe World Bank, approved a 100 million dollar loan to the region of Casablancato build two new urban rail connections as well as hundreds of kilometers of roads.   The loan is the first in the MENA region to be granted byIFC without a sovereign guarantee, the IFC said […]

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Tanzanian: Magufuli sacks home affairs minister over fraud

Tanzanian President John Magufuli has fired his home affairs minister Kangi Lugola on Thursday, accusing him of mismanaging a $452 million fire department contract. President John Magufuli said the home affairs ministry, under Kangi Lugola, had signed a contract with a Romanian company without notifying the finance ministry or seeking approval from the parliament. He […]

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Chad: public sector workers launch strike

The public sector in Chad has started a strike Tuesday in response to a call by the country’s trade union. Union members voted to strike after negotiations with the government broke down on Saturday, January 4. Workers are also calling for the government to lift a 50 percent reduction in specific general increases (AGS) that […]

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Angolan court orders seizure of Isabel dos Santos’ assets

A court in Angola has ordered the seizure of the assets and bank accounts of the billionaire daughter of ex-President José Eduardo dos Santos. Called “Africa’s wealthiest woman”, Isabel dos Santos amassed a fortune estimated at more than $2 billion through stakes in Angolan companies including banks and the telecoms firm Unitel, earning her the […]

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