Source: Network International |

Network International Delivers Strong 2023 Revenue growth at 15% y/y and free cashflow growth of 16% y/y

The company’s ongoing focus on the SME segment continues to pay off, delivering significant growth in UAE SME signings, up 20% year on year

Revenue up 15% (CCY[1]) y/y to USD 490 million in 2023, supported by a 30% (CCY[1]) rise in the total value of consumer payments processed by merchant customers (TPV) across the MEA; Very strong performance in the UAE driven by growing consumer confidence and tourism; payments processed at UAE merchants from…

Africa Finance Corporation (AFC)
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    • Leaders from Saudi Arabia, Turkey, Botswana, Cameroon and Sierra Leone to lead discussions at Africa Finance Corporation’s (AFC) 4th Country & Stakeholder Symposium
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Source: Africa Finance Corporation (AFC) |

Leaders from Saudi Arabia, Turkey, Botswana, Cameroon and Sierra Leone to lead discussions at Africa Finance Corporation’s (AFC) 4th Country & Stakeholder Symposium

This year's symposium focuses on the pivotal issue of limited availability of domestic capital which continues to impede the continent's economic progress

Africa Finance Corporation (AFC) (www.AfricAFC.org) , the leading instrumental infrastructure solutions provider in Africa, is convening the 4th edition of its Country & Stakeholder Symposium (CSS) next Thursday. Themed “Retaining African Capital for a Sustainable Future”, this year's symposium focuses on the pivotal issue of limited availability of domestic capital…

Source: Parliament of the Republic of Uganda |

Government tables Shs58 trillion budget for 2024/2025

The new budget estimates indicate a rise by Shs5.64 trillion compared to the 2023/2024 budget that amounted to Shs52.7 trillion

Government has presented a Shs58.34 national budget for the 2024/2025 financial year, intended to focus on ‘full monetisation of the Ugandan economy through agriculture, industrialisation, expanding and broadening services, digital transformation and market access’. The Minister of State for Finance (General Duties), Hon. Henry Musasizi, who presented the budget also…

Source: Parliament of the Republic of Uganda |

Finance releases funds for Kampala Capital City Authority (KCCA) casual labourers

Ssenyonyi raised the issue following another demonstration by labourers employed by KCCA over non-payment of their dues

The Ministry of Finance has released funds required to pay salary arrears for casual labourers employed by Kampala Capital City Authority (KCCA), the Minister of State for Finance (General Duties), Hon. Henry Musasizi, has said. Without giving figures, the Minister provided this assurance following concerns raised by the Leader of…

Source: African Development Bank Group (AfDB) |

African Development Bank Debars China Henan International Cooperation Group Company Limited for 12 Months for a Fraudulent Practice

During the debarment period, China Henan International Cooperation Group Company Limited and specified affiliates will be ineligible to participate in Bank Group-financed activities

The African Development Bank Group (www.AfDB.org), on 28 March 2024, announces the conclusion of a negotiated settlement agreement with China Henan International Cooperation Group Company Limited, thus putting an end to sanctions proceedings for a fraudulent practice against China Henan International Cooperation Group Company Limited. Pursuant to the negotiated settlement…

Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank signs $75 million loan agreement to boost Indorama’s fertilizer production and export capacity

Indorama’s two operational urea fertilizer lines serve Nigeria’s domestic market, supporting the country’s agricultural sector

The African Development Bank (www.AfDB.org) has signed a $75 million loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited. The loan will enable Indorama to increase its fertilizer production and develop a port terminal for exports, supporting food production and food security across regional and international markets, while fostering job…

Source: Parliament of the Republic of Uganda |

Defence spending Shs400m monthly to fly troops to Somalia

Byengoma called for money to be made available so that grounded aircraft can be worked on

The Ministry of Defence is spending a total of Shs400 million monthly to fly troops to Somalia and other destinations following the grounding of planes owned by Uganda Air Cargo. The Permanent Secretary of the Ministry, Rosette Byengoma, told the Committee on Defence and Internal Affairs that Uganda Air Cargo…

Source: British High Commission Pretoria |

South African projects seize opportunity to tackle climate crisis and create jobs

Fifteen exciting climate projects from across the country have been selected to take part in the third phase of the Climate Finance Accelerator (CFA) in South Africa

The businesses were chosen from 173 applications following a rigorous selection process. The chosen projects come from the energy, transportation, agriculture, forestry and other land uses, circular economy and water sectors. The businesses concerned will receive tailored one-to-one and group support from financial, technical and gender equality and social inclusion…

African Development Bank Group (AfDB)
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    • (Left to right) The Director General of the African Development Bank for East Africa, Nnenna Nwabufo, the Burundian Minister of Education and Scientific Research, François Havyarimana, and the coordinator of the East African Nutritional Sciences Institute, Melance Ntunzwenimana
    • The Director General of the African Development Bank for East Africa, Nnenna Nwabufo (second from left) visits the laboratory of the East African Nutritional Sciences Institute, accompanied by other officials
    • The Director General of the African Development Bank for East Africa, Nnenna Nwabufo (fifth from left) visited the modernization works at the port of Bujumbura, which are currently underway
    • (Left to right), Marcellin Ndong Ntah, the Bank’s Chief Economist for Burundi, Pascal Yembiline, head of the Bank’s country office in Burundi, Nnenna Nwabufo, Director General of the African Development Bank for East Africa and Olivier Suguru, President of the Federal Chamber of Commerce and Industry in Burundi, at the end of the discussions with the Burundian private sector
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Source: African Development Bank Group (AfDB) |

Burundi: African Development Bank Director General for East Africa commends progress of Bank-funded projects

The involvement of the Burundian Ministry of Education in implementing this innovative project aimed at benefiting countries in the East African Community

The Director General of the African Development Bank (www.AfDB.org) for East Africa, Nnenna Nwabufo, has expressed satisfaction with the implementation of projects funded by the Bank in Burundi. During her four-day visit to the East African nation between March 18-21, Ms Nwabufo assessed the progress of projects supported by the…

Source: Presidency of the Arab Republic of Egypt |

President El-Sisi Meets Prime Minister, Minister of Finance

President El-Sisi gave directives, in this context, to continue maintaining financial discipline and ensuring the financial sustainability of the state’s general budget

Today, President Abdel Fattah El-Sisi met with Prime Minister Dr. Mostafa Madbouly, Minister of Finance Dr. Mohamed Maait and Vice Minister of Finance for Fiscal Policies Ahmed Kouchouk. The Spokesman for the Presidency, Counselor Dr. Ahmed Fahmy, said the meeting reviewed the draft budget for the fiscal year 2024/2025. Minister…