Author: James Wambua

Egypt’s entry is a huge step forward for Cellulant, which now offers a full suite of payment services throughout 35 African regions and integrates over 370 different payment methods. Cellulant has raised a total of US$55 million to date, making it one of the most heavily backed fintech startups in Africa and allowing it to support its ambitious expansion plans. CEO Ahmed Marwan says with over 40% the adult population in Egypt using prepaid cards and mobile wallets, the acquisition of these licences positions Cellulant to further streamline payment options for businesses. Kenyan Fintech giant Cellulant, has announced its initial…

Kalemie, on the DRC side of Lake Tanganyika, is a vital connection point, linking the DRC with regional ports such as Bujumbura, Burundi, Mpulungu, Zambia, and Kigoma, Tanzania. Tanzania’s exports to Congo were worth about $280.54M in 2022, per the United Nations’ Comtrade Database of International Trade. Lake Tanganyika, an important geographical feature that serves as a natural boundary between the two countries, plays a crucial role in this developing relationship. The trade between the Democratic Republic of the Congo (DRC) and Tanzania is growing rapidly. Both countries have great potential for economic growth and development. Lake Tanganyika, an important…

President Sisi says Africa’s vast natural resources and its agricultural, educational, and mineral potential should be leveraged to drive intra-African trade. We in Egypt should always build, develop, rebuild, and cooperate in these fields, and nothing less: President Sisi. At the ongoing IATF2023, in Cairo, Sisi notes that there is a need for African nations to cooperate positively towards mutual growth. President Abdel Fattah al-Sisi of Egypt, while participating in the third Intra-African Trade Fair (IATF2023) in Cairo, called on countries across the continent to consolidate their efforts and promote intra-African trade. In an address at the Presidential Summit of…

The first round of election concluded with both candidates falling below the 50% threshold required for an outright victory. Weah secured 43.83% of the vote, narrowly edging out Boakai, who garnered 43.44%. Weah, a former soccer star, is facing the challenge of convincing voters to grant him a second term as he seeks to fulfill promises made during his first tenure. Liberians are currently participating in a crucial runoff election, deciding between President George Weah and former Vice President Joseph Boakai. The initial round of elections concluded with both candidates in a tight race, falling below the 50 per cent…

African economies are susceptible to global shocks and liquidity constraints due to overreliance on natural resources, delegates at Trade and Investment Conference of IATF2023 told. However, the African Continental Free Trade Area (AfCFTA) has the potential to break the continent’s colonial legacy of exporting raw materials and importing finished goods. The trade plan offers huge trade opportunities in manufacturing, export development, SME promotion, and trade in services. The African Continental Free Trade Area (AfCFTA) has the potential to break Africa’s colonial legacy of exporting raw materials and importing finished goods. This assertion is according to Jean-Louis Ekra, Deputy Chairperson of…

In Nairobi, delegates from 170 countries are convening for the initial discussion on a draft treaty released in September, outlining various approaches to address plastic pollution. Norway and Rwanda are spearheading the “high ambition coalition” that seeks to eradicate plastic pollution by 2040. Oil-rich Saudi Arabia is at the forefront of a coalition comprising countries with massive petroleum industries. This group is leaning towards setting priorities on recycling and waste management. Delegates from 170 countries worldwide are gathering in Nairobi from November 13th to 19th to negotiate plans aimed at eradicating global plastic pollution. This assembly brings together petrochemical multinationals,…

Africa’s infrastructure gaps hinder populations from accessing healthcare, education, trade hubs, and economic opportunities. Africa has only 53 per cent of paved roads, isolating millions of people from access to essential services. AfDB President says the development of regional corridors should be complemented with one-stop border posts to stimulate trade. Across Africa, the continent’s road infrastructure deficit creates high production and transaction costs. A new report notes that these persistent bottlenecks in the vast continent must be addressed to scale opportunities envisaged under the Africa Continental Free Trade Area (AfCFTA). The “Cross-Border Road Corridors Expanding Market Access in Africa and…

The ACG financing will support sustainability in Africa initiatives such as energy security and transition. It will also support regional integration and connectivity, trade finance and facilitation, gender and youth initiatives. ACG has been a long-standing supporter of African countries and has invested over $220 billion in the region. Stepping up their support for African partner countries ahead of the COP28 climate change conference, the Arab Coordination Group (ACG) has announced it will allocate up to $50 billion to help build resilient infrastructure and inclusive societies in Africa. COP28, held from 30 November to 12 December 2023 in Dubai, signifies…

In the ever-evolving world of global finance, oil-rich Saudi Arabia is emerging as a pivotal thread, weaving a narrative of economic collaboration and strategic partnerships. As the Saudi Fund for Development (SFD) unfurls its wings, it has inked a historic $580 million loan agreement with 12 African countries, marking a significant stride in the kingdom’s expanding role on the world financial stage.

Against the backdrop of evolving dynamics, where traditional financiers, especially China, are reassessing their commitments, Saudi Arabia’s ascent becomes a compelling tale of financial diplomacy, poised to reshape the contours of international economic relations. Saudi Arabia is positioning itself not just as a regional powerhouse but as a global player influencing the trajectory of world finance.

In Benin, the Fund will support the design of climate adaptation measures and best practices in port operations. The financing will see Morocco produce and sell 105 million cubic meters of potable water to around 1.5 million people in Safi and El Jadida. These measures will mitigate the imminent climate change risks associated with temperature and sea level rises and droughts. The Canada–African Development Bank Climate Fund (CACF), established to support gender-affirmative climate change projects in Africa, has approved $36.3 million for two private sector operations to advance climate adaptation initiatives across Africa. This amount, provided in the form of…