EU approves €800 million for Africa, regional investment

EU approves €800 million for Africa, regional investment

As part of its External Investment Plan, the European Union has approved €800 million for investment earmarked for Africa and the regional “neighborhood” countries, a number of which also are North African states. The funding will support programs including a new lending alternative for refugees or the internally displaced, who…

AfDB gets high marks for development aid transparency

AfDB gets high marks for development aid transparency

The African Development Bank was ranked fourth in the world in the latest Aid Transparency Index Report, an independent measure of the world’s major development and humanitarian agencies. “The index found that while organizations provide information on the objectives of their operations, only four DFIs – the Asian Development Bank,…

Museveni defends Uganda’s new social media tax

Museveni defends Uganda’s new social media tax

President Yoweri Museveni, known for the occasionally wordy post on whatever topic is at hand, has taken to Facebook to defend a controversial tax, imposed on social media and money mobile users, that went into effect at the beginning of July. Museveni pointedly said he wanted to use social media…

Buhari visit to Morocco puts focus on Nigeria’s fertilizer industry

President Muhammadu Buhari begins a two-day visit to Morocco on Sunday, and will meet with King Mohammed VI to discuss economic partnerships between the two nations. The leaders will focus on strengthening existing agreements on the fertilizer industry, as well as education cooperation, the Nigeria-Morocco Gas Pipeline project and establishing…

EU signs new economic agreement with Liberia

The European Union has signed a new Economic Cooperation Agreement with Liberia, and provided an initial €27 million in funding for the West African nation’s budget for the 2018-2019 fiscal year. The commitment follows President George Weah’s trip to attend the annual European Development Days (EDD) Summit, held this week…

India, with an eye toward Africa

Sushma Swaraj of India is one of five foreign ministers meeting in Pretoria this week as the BRICS ministers convene ahead of the full summit in Johannesburg in July. On her way to the meeting, she stopped in Mauritius to visit Prime Minister Pravind Kumar Jugnauth, affirming their close cultural…

Laureen Fagan

Laureen is the editor of Africa Times

Old-car imports no longer welcome in Uganda

Uganda’s parliament has passed legislation banning the import of cars more than 15 years old, in a compromise of an original proposal that would have seen the vehicle-year threshold as lows as eight. Government officials said the law, which will go into effect on July 1, is meant to boost…

IMF adopts CPIFR assessment standard for Islamic banking

The International Monetary Fund (IMF) announced Thursday that it will integrate Islamic banking, which now has a presence in more than 60 countries, into its financial stability assessments in nations where Islamic finance commands at least 15 percent of the banking sector market. Beginning in 2019, they’ll use the Core…

ICIJ investigation has West African corruption in its crosshairs

The launch of a new investigative journalism series has all eyes on West Africa, where the International Consortium of Investigative Journalists (ICIJ) has partnered with reporters in 11 countries to, among other things, track down money in offshore tax havens and expose the elite clientele connected to the funds. “Leaked…

Barrow in Brussels for The Gambia-EU donor conference

President Adama Barrow of The Gambia is in Brussels Tuesday for a donor conference to help support the country’s democratic transition from the decades of rule under former dictator Yahya Jammeh. The conference, jointly organized by The Gambia and the European Union, will see Barrow co-chair the meeting alongside High…

UK announces USD$100 million in Zimbabwe development loans

The UK’s development finance institution, CDC, and Standard Chartered Bank today announced an up to USD$100 million in investment funding to grow businesses in Zimbabwe – a move that heralds a new start for the country as the UK has long withheld support while awaiting economic and social reforms. The…

Morocco visits Belarus to discuss support for troubled World Cup bid

Morocco’s Nawal El Moutawakel, head of the country’s National Olympic Committee (NOC), and her delegation visited Belarus to discuss their FIFA World Cup 2026 bid with their counterparts in Minsk. “We are glad to welcome such designated representatives of the Moroccan Olympic Movement,” said George Katulin, the NOC Secretary General…

Thousands march in South Africa’s nationwide union strike

A nationwide general strike Wednesday in South Africa drew thousands of protesters, with marches in at least six cities including Johannesburg, Cape Town and Durban. The strike, coordinated by the South African Federation of Trade Unions (SAFTU), meant to “bring South Africa to a standstill” over the country’s economic plight,…