Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement on the Second Review of the Extended Credit Facility with the Union of the Comoros

Completing the review will make available SDR 3.56 million (about US$4.7 million) to Comoros, bringing total disbursements under the arrangement to about $14.1 million

The Comorian authorities and IMF staff have reached a staff-level agreement on economic policies and reforms for the second review under the 4-year ECF-supported program. The review, once formally completed by the IMF Executive Board, would release SDR 3.56 million (about US$4.7 million) in financing; Program performance has been generally good…

Source: President of the Republic of Kenya |

President Ruto Launches Plan to Revamp Nairobi

The initiative aims to benefit more than 4.3 million people

President William Ruto has launched a plan that will tackle the economic growth challenges related to urban land use and transport planning in the Nairobi metropolitan. Referred to as the Kenya Urban Mobility and Growth Threshold Programme, the initiative aims to benefit more than 4.3 million people. “This programme is…

African Energy Chamber
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    • Sonatrach-ExxonMobil Gas Deal to Open New Play in the Ahnet-Gourara Basin
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Source: African Energy Chamber |

Sonatrach-ExxonMobil Gas Deal to Open New Play in the Ahnet-Gourara Basin

The deal signifies a pivotal step in Algeria’s hydrocarbon development, marking a strategic partnership aimed at tapping into the nation’s gas reserves

Algeria’s state oil company Sonatrach and energy major ExxonMobil have signed a deal to develop two major gas fields in southern Algeria’s Ahnet and Gourara basins. The agreement, signed by Sonatrach’s Chief Executive Rachid Hachichi and ExxonMobil’s Head of Exploration John Ardill represents a milestone in Algeria’s energy sector, highlighting substantial progress…

Afreximbank
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    • Benin Joins 16 other Countries to Accede to the Establishment Agreement for Afreximbank’s Impact Investment Subsidiary, Fund for Export Development in Africa (FEDA) (1)
    • Benin Joins 16 other Countries to Accede to the Establishment Agreement for Afreximbank’s Impact Investment Subsidiary, Fund for Export Development in Africa (FEDA) (2) (FR)
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Source: Afreximbank |

Benin Joins 16 other Countries to Accede to the Establishment Agreement for Afreximbank’s Impact Investment Subsidiary, Fund for Export Development in Africa (FEDA)

The onboarding of new Members expands the reach of FEDA’s interventions and reflects the Fund’s unwavering commitment to its mandate of providing long-term capital to African economies

The Republic of Benin has become the latest African nation to accede to the Fund for Export Development in Africa (FEDA), the impact investment subsidiary of African Export-Import Bank (Afreximbank) (https://www.Afreximbank.com/). With Benin's accession to the FEDA Establishment Agreement, the total number of participating African countries has risen to 17,…

Source: Economic Community of West African States (ECOWAS) |

Economic Community of West African States (ECOWAS) Hosts the District 94 Toastmasters 2024 Conference Under the Theme “Building Bridges with Words”

To celebrate the region’s cultural diversity, participants marched under the flags of their countries, showcasing their traditions through music, dance and traditional attire

The Economic Community of West African States (ECOWAS) is hosting the District 94 Toastmasters 2024 Conference from 22 to 25 May at the ECOWAS Commission headquarters in Abuja, Nigeria, as part of the association’s centenary celebrations under the theme “Building Bridges with Words”. The opening ceremony, which was attended by H.E.…

Source: Equatorial Guinea: Official Web Page of the Government |

Senate studies agreements signed by Equatorial Guinea with friendly countries

The Senate Plenary met on Thursday to study the content of the agreements signed by the Government of the Republic of Equatorial Guinea with the Government of the Republic of Belarus

The first review was of the Framework Agreement on Economic, Commercial, Cultural, Scientific and Technical Cooperation between Equatorial Guinea and Belarus, through which the two countries agree to promote and foster cooperation through the formulation and implementation of strategies, programmes and projects in areas of common interest, whose objectives are…

Source: Economic Community of West African States (ECOWAS) |

Economic Community of West African States (ECOWAS) Regional Competition Authority Advocacy and Sensitization Meeting on Competition and Consumer Protection Law in Liberia

The ultimate goal is for Liberia to have in place standard and modern Competition Legislation that mirrors regional and continental frameworks

The ECOWAS Regional Competition Authority (ERCA) as part of its mandate to support Member States in the competition matters conducted advocacy and sensitization on Competition and Consumer protection laws in Liberia from 20- 22 May 2024, in Monrovia, Republic of Liberia. The advocacy  brought together key stakeholders such as Ministries and…

Source: The Presidency, Republic of Ghana |

Bawumia’s Digital Innovation Drive Key To Economic Growth And Job Creation – President Akufo-Addo

Ghana can empower her citizens to participate fully in the digital economy and reap the benefits of the fourth industrial revolution

The President of the Republic, Nana Addo Dankwa Akufo-Addo, is certain that Ghana’s comprehensive grasp of digital innovation within her public sector space will create jobs and remain a key driver of economic growth. He believes that with the ability of digital transformation being key to unlocking new levels of…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Mission to Malawi

The program was approved by the IMF Executive Board on November 15, 2023

An International Monetary Fund (IMF) team visited Lilongwe to discuss recent economic and financial developments, as well as economic policies that would underpin the First Review under the Extended Credit Facility (ECF) Arrangement; The team had productive discussions with the authorities. Discussions will continue in the coming weeks to finalize…

African Development Bank Group (AfDB)
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    • Desert to power will harness the Sahel's energy potential to provide 250 million people living in the Sahel with clean, abundant and affordable energy
    • The Desert to Power project will produce up to 10 GW of solar energy to supply 250 million people in 11 Sahel countries with photovoltaic power
    • The president of the African Development Bank, Dr. Akinwumi Adesina, who is spearheading the initiative, considers Desert to Power to be the "baobab" of the Bank's projects because of its scale, its scope, the number of people who will benefit and its importance for the economy and people's lives
    • Desert to power will provide on-grid and off-grid electricity to the people of the Sahel
    • A woman working in a dairy factory in Mali. The private sector will benefit greatly from the spin-offs of the Desert to power initiative
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Source: African Development Bank Group (AfDB) |

The African Development Bank's Desert to Power Initiative

The Desert to Power initiative aims to bring energy to one of the least developed and most marginal parts of the continent

Desert-to-Power involves 11 countries across Sahelian belt; 250 million people set to benefit with 10 gigawatts of solar by 2030. The African Development Bank is the driving force behind one of the world's most ambitious energy projects: the Desert to Power initiative aims to bring energy to one of the least…