Infrastructure Finance
Global data centre and colocation provider Equinix is investing $390 million to build data centres across Africa. Why is this important: The continent's internet penetration worldwide with data consumption expected to increase by 45% annually until 2025. With the continent's growing population, the demand for storage
Economics
Zambia's kwacha has rallied 13.8% to 22.8 against the dollar since the start of this year. Why is this important: The country's central bank, the Bank of Zambia, continues to tighten its monetary policy by raising the monetary policy rate by 150 basis points
Infrastructure Finance
African Finance Corporation (AFC) and the African Export-Import Bank (Afreximbank), in close collaboration with King’s College Hospital, London, have invested $40 million in The African Medical Centre of Excellence, Abuja (AMCE Abuja). Why is this important: Nigeria's healthcare infrastructure remains underdeveloped, with poor healthcare compensation and a
Energy du Mali SA, the state energy company of Mali, is in talks with banks to restructure its 600 billion CFA franc ($989 million) debt. Mali continues to experience incessant power cuts across the country's major cities affecting businesses and key economic activities. The country's energy
Sovereign Debt
The Nigerien government missed a 13.4 billion CFA franc ($22 million) principal payment on a one-year bond due in February 2024. Why is this important: The West African country was subject to a coup last year, resulting in The Economic Community of West African States( ECOWAS) suspending all commercial
Sustainability Finance, Cote d'Ivoire
The International Monetary Fund and Côte d'Ivoire have agreed to a $1.3 billion Resilience and Sustainability facility to fight climate change. Why is this important: Côte d'Ivoire is the top cocoa producer in the world, and its agriculture sector is exposed and vulnerable to climate
BlackRock's Climate Finance Partnership, a public-private finance fund, has acquired a 12.5 per cent stake in Kenya’s Lake Turkana Wind Power (LTWP) from Danish turbine manufacturer Vestas. Why is this important: The 310-megawatt (MW) Lake Turkana Wind Power farm, which supplies renewable energy to Kenya'
Uganda has signed a development agreement with the Westgass International and Industrial Promotion Services (IPS) for a $400 million hydrogen fertiliser plant. Why is this important? In 2021, Uganda imported $37.94 million worth of fertiliser, according to the United Nations COMTRADE database, which has increased over the years. The
Economics
Monetary Policy, Economics
Zimbabwe is exploring options to create a new currency board to stabilise the Zimbabwean dollar and link it to hard assets like gold. The Zimbabwe dollar has lost 94% of its value since January 2023. The government recently introduced a ' structured currency' to address the rapid devaluation of
Sports, South Africa
The South African Rugby Union (SARU), the governing body of the Spingboks, has received a $75 million investment from Ackerley Sports Group, subject to approval by the SARU members. Why is this important? The business of Sports is becoming an emerging trend across the world, from football to Golf. Most
Bonds
Kenya seems confident they can repay the $2 billion Eurobond due in June. Let's go deeper: The country has a debt profile of around $61.5 billion, which is around 67 per cent of its gross domestic product( GDP), with a 29 per cent currency devaluation against the