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AfDB okays $8 million loans to Kenyan SMEs

In Kenya, local financial institution, Credit Bank, has received about $8 million from the African development bank (AfDB) to support lending to small and medium-sized enterprises (SMEs) in the East African nation. The five-year maturity loan has been approved by the board of directors of the African financial institution. It will be dedicated to the […]

Burkina Faso: IMF approves $25 million credit facility

The Executive Board of the International Monetary Fund (IMF) last weekend completed the second review of Burkina Faso’s economic performance under a three-year program supported by the IMF’s Extended Credit Facility (ECF).   According to the board of the international lender, the West African nation will receive about US$25 million, bringing total disbursements under the […]

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Renault to start assembling, distributing two models in Nigeria

French automaker Renault announced Thursday it reached a deal with a Nigerian local partner for the production and distribution of its “Logan” and “Duster” models. Lagos-based Coscharis Group will provide its plant for the production and distribution of the Renault vehicles through its sales network in the West African country. “With a population of over […]

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Morocco: Main suspects in beheading of two Scandinavian hikers handed death sentences

Morocco: Main suspects in beheading of two Scandinavian hikers handed death sentences

A court in Sale, near Rabat, Thursday sentenced to death three main suspects who pleaded guilty for the killing in December of two Scandinavian holidaymakers in the High Atlas Mountains. Two of 24 defendants confessed they killed Louisa Vesterager Jespersen, 24, from Denmark, and Maren Ueland, 28, from Norway, while a third said he stood […]

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KFED sets operational framework for Entrepreneurship Support Agreement with Togo

The Khalifa Fund for Enterprise Development, KFED, has announced an operational set of standards and guidelines to be followed under the recently signed Entrepreneurship Support Agreement with Togo. The strategic agreement, which was signed last March, will provide funding assistance of over $15 million (AED55 million) to local small and medium enterprises, SMEs, in Togo, […]

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Cameroon: Football Federation sacks Dutch duo managing national team over AFCON debacle

The Cameroon’s football federation has sacked national team head coach Clarence Seedorf following the early exit out of the African Cup of Nations, AFCON, taking place in Egypt after the reigning champions were dumped at last 16-stage round. The federation in a statement said it ended collaboration with former Dutch legend midfield Clarence Seedorf and […]

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More than 100,000 girls in Tanzania work in slave-like conditions

In Tanzania, more than 100,000 young girls have been tricked into a life of fear and, in effect, slavery. According to BBC, some of the girls are sold to households where they are forced to work from sunrise to sunset. Others end up being forced into prostitution. Their parents are usually told that the girls […]

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DRC-Ebola: hundreds of millions of dollars needed; Two workers killed

UN humanitarian chief Mark Lowcock on Monday said Democratic Republic of Congo’s Ebola outbreak could last much longer and cost far more in money and lives unless UN member states inject hundreds of millions of dollars now. Speaking before a meeting in Geneva to raise funds for the response to Congo’s worst recorded Ebola outbreak, […]

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Tony Elumelu, UNDP to support 100,000 entrepreneurs in 10 years

The United Nations Development Programme (UNDP), the global development network of the United Nations, has partnered with the Tony Elumelu Foundation (TEF) to train, mentor and financially support 100,000 young entrepreneurs in Africa over 10 years towards the achievement of the Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063. The announcement was made […]

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Libya: Airstrike kills 44 in migrant detention center

At least 44 people were killed and more than 130 wounded in an air strike on a migrant detention center in the Libyan capital Tripoli, the UN mission to the country said. According to UN Libya envoy Ghassan Salame, the strike “clearly amounts to the level of a war crime”. The Tripoli-based government GNA blamed […]

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