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By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra Ghana- To support economic activity and job creation in 10 countries across sub-Saharan Africa, IFC has announced an investment in a risk-sharing facility for the Bank of Africa Group (BOA) that will ease access to finance for smaller businesses, including those in fragile and conflict-affected countries and in the Sahel. IFC will invest $77 million in the risk-sharing facility to scale up BOA’s lending to small and medium enterprises (SMEs), including women-owned businesses, in Benin, Burkina Faso, Côte d’Ivoire, Ghana, Madagascar, Mali, Niger, Senegal, Tanzania, and Togo. IFC’s investment will guarantee 50 percent of an aggregate loan portfolio of up to $154 million equivalent to businesses in the agriculture,...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- The electric motorbikes will be sold under the brand SPIRO, inaugurated in Africa in battery-swapping as a way to expand into ten nations by 2030. The corporation administrators last week approved an MOU with the administration of Uganda, which was resold by Minister of Works and Transport Gen Edward Katumba Wamala and Junior Finance Minister Hon. Henry Musasizi. Shegun Adjadi Bakari – the CEO of SPIRO and partner at the African Fund for Transformation and Industrialization (ATIF), said the coalition with the Ugandan government was an “unprecedented step in the transition of African cities to more sustainable mobility.” “This partnership, the first between an African government and a green mobility...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- The financing is deployed under Afreximbank’s Trade Facilitation Programme (AfTRAF) which is a component of the Bank’s policy to boost African banks to strengthen and complete prevailing trade finance layers. The $10 million financing facility will be utilized by Parallex Bank to enable, through on lending, access to cross-border trade finance for small and medium-sized enterprises (SME), and to develop cords of recognition for enterprises operating in the agribusiness, export industry, health, education, and renewable energy sectors. The accounts will similarly subsidize other pan-African employment chances for Parallex Bank’s thriving SME component, as adequately as for arising saleable and corporate...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- The next biggest economy in the West African region after Nigeria, Côte d’Ivoire invoices for 60% of the agriculture exports in the West African Economic and Monetary Union (UEMOA) and 33% in ECOWAS. This lends credence to her, for it to become one of the most desirable nations for agrarian investors from Africa to invest in. The world’s biggest producer of cocoa and cashew nut, 4th producer of cotton in Africa, 7th producer of natural rubber in the world (1st producer in Africa), 5th produce of palm oil in the world (2nd in Africa) – around 75% of Côte d’Ivoire’s landmass is arable and fertile land, of which around 42% is cultivated. Nonetheless, most of Côte d’Ivoire’s farming produce is exported...