The AfDB board of directors recently approved a $25 million equity investment in the Abraaj Growth Markets Health Fund, a contribution that will allow the fund to finance lower-middle and low-income segments of the African population. The fund addresses investment capital needs of growing health care demands that have risen due to the continent’s rapid urban growth. Read More »

Sierra Leone announced Tuesday that the country has made progress in implementing the Solar Park Freetown Project. Progress includes the ratification of the ADFD loan by the government, the establishment of a working project implementation unit and the recent re-appointment of Advanced Science and Innovation Company as project manager. The Solar Park project won an award. Read More »

The Nigerian Corn Growers Association Director Edwin Uche met with the U.S. National Corn Growers Association Tuesday to discuss his association's efforts. Uche held a number of discussions on increasing corn demand in Nigeria and encouraged an understanding of biotechnology and ethanol industry growth. He also discussed the dual purpose of corn as both food and fuel. Read More »

An MOU was recently signed between the ICD of the Private Sector and the CADF. The MOU will enable trade, investment and economic growth to come to 19 African countries and their small to medium business enterprises (SMEs).The memorandum was signed by a number of individuals, including the CEO and general manager of ICD, Khaled Al Aboodi, as well as the president of CADF, Shi Jiyang. Read More »

Ringier Africa Deals Group acquired DealDey, a Nigeria-based online platform for consumers, Wednesday. Kehinde Oriole, says that the company was pleased to be working with Ringier Africa Deals Group. DealDey has more than 1 million users, 20,000 verified businesses and 15,000 active merchants in its database, making it the largest online business of its kind in the region.  Read More »

Private equity fund management company the Advanced Finance and Investment Group (AFIG) LLC promoted Stephane Le Bouder Wednesday to the position of managing director. Le Bouder, a Central African Republic native, came to the company in 2013 and served as the deputy assistance for International Affairs at the U.S. Treasury Department. He was also appointed by the Obama Administration. Read More »

Metso and Gecamines signed a contract for a crushing and screening plant that will reuse pre-existing equipment and align with specific French regulations. Metso is an industrial company that works in the areas of oil, gas and mining industries, and Gecamines is a major company in the cement industry of Senegal that has two plants. This is the second contract for Metso and Gecamines. Read More »

An IMF team ended their visit to Sao Tome and Principe Thursday. From March 9, the IMF participated in the 2016 Article IV Consultation and the first review of the Sao Tome and Principe economic program. Sao Tome is supported by the IMF's three-year, extended credit facility, and the program has met its goals in the area of quantitative performance criteria for December 2015. Read More »

The Committee of the Chief of Defense Staff (CCDS) of the ECOWAS region met in Abuja, Nigeria, Wednesday to discuss its intervention plan in Guinea-Bissau.The ECOWAS mission in Guinea-Bissau began in 2012 with more than 600 military and a police contingent to stabilize the country during a time of political turmoil. With the ECOWAS mission in Guinea-Bissau coming to an end. Read More »

The International Finance Corporation released a report Tuesday in collaboration with the Africa CEO Forum that details financing opportunities in Africa. The report found that commercial options are numerous due to a change in consumption patterns, increase in incomes, age and size of the population and the high speed of urbanization and increase in Internet connectivity. Read More »

The Bank of Sierra Leone, the United Nations Development Programme and the United Nations Capital Development Fund IGC recently wrapped up a three-day workshop on mobile financial services. The goal of the workshop was to find ways to integrate mobile banking into the lives of poor people throughout West Africa. The region is behind its African peers in mobile financial services. Read More »

The ICD recently signed a Memorandum of Understanding with the CADFund to enhance trade and investment opportunities throughout Africa. Through co-financing and co-investments, the two groups plan to promote inclusive growth and financial inclusion. The organizations will work in harmony to provide research and capacity-building programs in various African markets. Read More »

Uber is now offering its services in Abuja, Nigeria, which is the 400th city that the company has a presence in. The entrepreneurial nature of Abuja and its rapid growth are two reasons that Uber chose it. Ebi Atawodi, recently spoke about the city and the company. Any individual with a smartphone is able to request Uber to help them go from point A to point B. Read More »

WHO Director Margaret Chan discussed the need for more jobs in health care Wednesday at the Commission on Health Employment and Economic Growth in Lyon, France.Although the health sector in middle- and- upper-income countries is growing and will offer 40 million new jobs by the year 2030, there is concern about the shortages of qualified individuals in lower income countries. Read More »

In a recent meeting between the Republic of Guinea President Alpha Conde and members of the Saudi business sector at the Council of Saudi Chambers (CSC), economic cooperation was explored. President Conde spoke to investors from Saudi Arabia about Guinea's investment opportunities in the areas of mining, manufacturing, agriculture, tourism, hospitality and infrastructure. Read More »

After DHL Express Sub-Saharan Africa divisions earned 22 awards at the 10th annual Stevie Awards for Sales and Customer Service, Fatima Sullivan spoke Tuesday on the significance of customer service. According to Sullivan, research shows that customers will spend more money for better service or spend more on those companies who they believe will provide better service.  Read More »

The GAMC launched its Microfinance Companies Capacity Improvement Project. GAMC received a $1.6 million grant from the Agence Francaise de Developpement toward this project to increase its training center capabilities and provide technical assistance to its members. The technical training will focus on members who possess signs of high professionalism and sustainability. Read More »

More than 400 individuals have come together to discuss the shea industry and its interconnectedness with food security, agriculture and sustainability Monday to Wednesday at the Global Shea Alliance Conference in Accra, Ghana.The conference's theme is "Shea 2016: Enhancing Farm Value" and is also focused on farming approaches, gender equity, rural resilience and more. Read More »

At the GPSC, recently held during Singapore Urban Week, leaders from 11 countries came together to create a sustainability program for countries to receive funding of $1.5 billion from the Global Environmental Facility (GEF). The World Bank was the coordinator of the event, which was further supported by developmental banks, UN organizations and think tanks. Read More »

The IAEA will continue to support Nigeria in the introduction of nuclear power. IAEA Director Yukiya Amano spoke with Nigerian President Muhammadu Buhari recently to discuss plans to open Nigeria’s first nuclear power plant by 2035. Amano encouraged Nigeria to begin preparations on the nuclear front by developing comprehensive nuclear laws and strengthening the regulatory framework.  Read More »