Source: Embassy of Ethiopia in Stockholm, Sweden |

Ethiopia and Norway held the 5th Political Consultation on today in Oslo

The two sides reiterated the long standing cordial bilateral relations that exist between the two countries and exchanged views on issues of mutual interest

Ms. Tine Morch Smith, Director-General of Regional Department at the Norwegian Ministry of Foreign affairs welcomed the #Ethiopian Delegation led by Mr. Mehretab Mulugeta, Director General of European Affairs at the Ethiopian Ministry of Foreign Affairs on November 14, 2019. The two sides reiterated the long standing cordial bilateral relations that exist…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Management Complete the First Review Under the Staff-Monitored Program with Somalia

The IMF supports Somalia’s efforts to secure debt relief and is working with its members to secure the financial resources necessary to cover the IMF’s costs of debt relief

IMF staff commends the authorities for implementing key reforms and for satisfactory performance under the fourth Staff-Monitored Program (SMP); Maintaining strong performance and support from international partners will pave the way for Somalia to receive debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative; The IMF supports Somalia’s efforts…

Source: World Health Organization (WHO) |

Sweeping Agreement Inked by World Health Organization (WHO) and African Union to Accelerate Vital Health Goals

Memorandum of Understanding formalizes and deepens cooperation between the organizations

Today the African Union (AU) Commission and the World Health Organization (WHO) signed an historic Memorandum of Understanding (MoU) cementing their mutual commitment to expand and deepen their relationship and cooperation. The document was signed at WHO Headquarters by His Excellency Moussa Faki Mahamat, Chairman of the African Union Commission,…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Africa Investment Forum 2019: African Development Bank signs $250-million risk participation agreement with ABSA, to address Africa’s trade financing gap

The Bank’s trade finance operations aim to facilitate inter and intra Africa trade by reducing the trade financing gap on the continent

The African Development Bank (https://AfDB.org/en) has signed an unfunded $250-million Risk Participation Agreement (RPA) facility with ABSA - a pan-Africa financial institution with a solid presence in 12 African countries. The 3-year RPA facility was signed November 12, on the sidelines of the Africa Investment Form through its trade finance…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Africa Investment Forum 2019 - Promises made, promises kept: Champions share why investments benefit women

We are looking at the value chain of businesses and asking how do we support women across the value chain…from the factory floor all the way to the boardroom? - Tokunboh Ishmael

60% of Mara phones’ 400-450 employees are women: This is why our quality is better than anyone else’s – Ashsish Thakkar; We are looking at the value chain of businesses and asking how do we support women across the value chain…from the factory floor all the way to the boardroom?…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Africa Investment Forum 2019: Masai Ujiri urges African leaders to invest in sports, commissions two new “players”

We need to invest in sports; African talent is like gold and diamonds – Masai Ujiri

Masai Ujiri, President of the Toronto Raptors, made his second appearance at the Africa Investment Forum, renewing his call for African governments to invest in sports. Ujiri, the only President of National Basketball Association (NBA) of African origin in franchise history, has worked hard over the past year to scout…

Source: Africa Oil Week |

East Africa continues to develop as important gas hub

Two of the regions brightest projects are located on the south east coast of the continent in Tanzania and Mozambique

East Africa and the Indian Ocean have witnessed substantial discoveries of oil and gas in in the last decade, but the full potential of the region has yet to be realised. At this year’s Africa Oil Week (Africa-OilWeek.com) event there was a big focus on the region and its growing…

African Development Bank Group (AfDB)
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Source: African Development Bank Group (AfDB) |

Africa’s infrastructure financing reaches an all-time high in 2018, surpassing $100 billion - Infrastructure Consortium for Africa (ICA)

This years’ report shows the role ICA continues to play in institutional and policy reform as well as its consistent financial contribution within the infrastructure space

The Infrastructure Consortium for Africa (ICA) on Tuesday announced a 24% leap in infrastructure financing in Africa in 2018, surpassing $100 billion for the first time, but significant financing gaps remain. Launched on 12 November at the Africa Investment Forum (https://AfricaInvestmentForum.com/), the ICA’s Infrastructure Financing Trends in Africa 2018 report shows…

African Energy Chamber
Source: African Energy Chamber |

Africa Has All Ingredients for a New Era of Success

African countries need to monetize their natural resources and use the resulting revenue to build much-needed infrastructure and diversify economies

If you follow news about Africa, it’s easy to find disheartening headlines about the continent’s struggles. But those stories do not paint a complete picture. Every day, I read encouraging news about African entrepreneurs and business leaders who are making a positive impact. A few examples: Kola Karim’s Shoreline Natural…

Source: International Monetary Fund (IMF) |

Democratic Republic of Congo and IMF Mission Reach an Agreement ad-referendum on Financial Assistance Under the Rapid Credit Facility and a Staff-Monitored Program

An International Monetary Fund (IMF) team, headed by Mauricio Villafuerte, visited Kinshasa, Democratic Republic of Congo (DRC), over November 6–15, 2019

The Congolese authorities and the IMF team reached an agreement ad-referendum on a reform program that could be supported by the Rapid Credit Facility and a Staff-Monitored Program through end-May 2020; The Congolese economy faces multiple challenges with weakening economic growth, pervasive poverty, fragmented taxation system and fragile judiciary; Discussions…