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The World Bank Group
Source: The World Bank Group |

Burkina Faso: Launch of two World Bank Economic Reports

The report suggests policy options including raising agricultural productivity, increasing the technological sophistication of firms, improving resource allocation and productivity through better transport, and achieving gender equality

The World Bank today launched (i) the Burkina Faso Economic Update and (ii) the Country Economic Memorandum (CEM). The Economic Update highlights recent economic trends in the country and analyzes the short- and medium-term economic outlook. Focusing on scaling up social assistance, the April 2024 edition, “Sustaining the Momentum of Social Assistance…

The World Bank Group
Source: The World Bank Group |

Uganda Should Improve Public Spending on Health for a More Productive Population

According to the 23rd edition of the Uganda Economic Update (UEU) released today, low inflation and recovery of real income and employment bolstered consumption, while private investment remained resilient

Economic activity in Uganda has remained resilient despite multiple successive shocks, with real gross domestic product (GDP) accelerating from 5.3% in FY22/23 to an estimated 6% in FY23/24, a new World Bank report notes. The expansion was driven by oil-related construction activity and the growth of the mining and quarrying…

Afreximbank

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    • Mr. Haytham El Maayergi, Executive Vice President of Global Trade Bank with Mr George Chitera, the Deputy Managing Director for FDH Bank Plc
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Source: Afreximbank |

FDH Bank Malawi bags US$15-million Afreximbank loan facility

FDH Bank will deploy the proceeds of the facility to the financing of trade transactions of its clients involved in manufacturing, exports and imports

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has signed an agreement to provide FDH Bank Plc. Malawi with a US$15-million amortizing term loan facility to support the manufacturing sector, exporters and importers in Malawi. Under the terms of the agreement, signed during the just-concluded Afreximbank Annual Meetings (AAM2024) in Nassau, capital city…

Afrobarometer

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    • Key findings (1) (EN)
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Source: Afrobarometer |

Africans’ bleak views of economic conditions match their escalating experience of poverty, Afrobarometer surveys find

In growing numbers, Africans report going without basic necessities such as a cash income, medical care, food, and water

Africans’ concerns about economic management have surged in recent years, placing the issue second only to unemployment among the top priorities that citizens want their government to address, the latest Afrobarometer (www.Afrobarometer.org) Pan-Africa Profile (https://apo-opa.co/3KZy2BB) shows. Based on surveys in 39 African countries between late 2021 and mid-2023, the analysis…

African Development Bank Group (AfDB)

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    • The African Development Fund is helping Guinea to build institutional capacities that can facilitate industrial development and strengthen the resilience of its SMEs
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Source: African Development Bank Group (AfDB) |

Guinea: USD 14 million loan from the African Development Fund will support industrial development and resilience of Small and Medium-sized Enterprises (SMEs)

The goal is to speed up economic transformation through stimulation of SMEs, including women's SMEs, industrial modernisation and exports, making the economy more competitive and promoting private investment

The Board of Directors of the African Development Fund (https://apo-opa.co/3VAvcHY), the concessional window of the African Development Bank Group (www.AfDB.org), has approved a loan of US $14.04 million to Guinea for implementation in the country of the Industrial Development and SME Resilience Support Project. The financing comes from Pillar 1…

The World Bank Group
Source: The World Bank Group |

Fostering a Vibrant and Inclusive Private Sector is Key to Somalia’s Resilient Growth

Private sector activity is concentrated on commerce and other, mostly non-tradable, consumption-driven services

Since Somalia’s private sector accounts for an estimated 95 percent of total jobs created, marshaling the private sector to support the country’s development is critical for reconstruction, transitioning from fragility, and generating more inclusive economic dividends for it’s people. The country also needs to focus on growth (to avoid falling…

Engie Energy Access

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    • Off-Grid Energy Leader ENGIE Energy Access Launches 15 Solar Mini-Grids in Zambia, targets 60 by 2025 (1)
    • Off-Grid Energy Leader ENGIE Energy Access Launches 15 Solar Mini-Grids in Zambia, targets 60 by 2025 (2)
    • Off-Grid Energy Leader ENGIE Energy Access Launches 15 Solar Mini-Grids in Zambia, targets 60 by 2025 (3)
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Source: Engie Energy Access |

Off-Grid Energy Leader ENGIE Energy Access Launches 15 Solar Mini-Grids in Zambia, targets 60 by 2025

ENGIE Energy Access will provide reliable electricity to underserved families and small businesses, creating economic growth and increasing socio-economic welfare in local communities

ENGIE Energy Access (www.ENGIE-EnergyAccess.com), Africa’s leading Pay-As-You-Go (PAYGO) and mini-grid solutions provider, has officially commenced the construction of 15 solar mini-grids in Zambia's Eastern Province. This initiative is a crucial part of the transformative Increase Access to Electricity and Renewable Energy Production (IAEREP) programme, funded by the 11th European Development…

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

The Economic Community of West African States (ECOWAS) Permanent Observer Mission to the United Nations and the ECOWAS Group at the United Nations Organize a Series of High-Level Events to Commemorate the 49th Anniversary of ECOWAS

The key objective of the event was to enable exchanges on ECOWAS’ initiatives in promoting Good Governance and sustainable development

The first in the series of events organized by the ECOWAS Permanent Observer Mission and the ECOWAS Group at the United Nations was a High-Level Dialogue at the UN Headquarters on ‘Regionalism, Democracy and Development in West Africa: Building Blocks to Strengthening Multilateralism’, which held on Friday, June 7, 2024.…

The Presidency, Republic of Ghana
Source: The Presidency, Republic of Ghana |

Debt Restructuring Will Revive Stalled Projects - President Akufo-Addo

This restructuring has set the domestic debt-to-GDP ratio on a path to reach 55% by the end of 2028

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has in a significant development for Ghana's economic recovery, announced that many of the country's stalled projects will soon resume, thanks to successful negotiations on the restructuring of Ghana's debt. Speaking at the presentation of credentials to nine newly appointed diplomats…

The Presidency, Republic of Ghana
Source: The Presidency, Republic of Ghana |

Ghana's Economic Recovery On Course - President Akufo-Addo Affirms

President Akufo-Addo's confidence in Ghana's economic revival is further supported by the ongoing efforts to attract foreign investment and strengthen international cooperation

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has reassured Ghanaians and the international community that the country's economy is on a strong recovery path. During the presentation of credentials to nine newly appointed diplomats at the Jubilee House, the President highlighted significant economic strides and the resilience shown…