Category: Finance

The Chinese-backed African fintech platform OPay is reportedly in talks with investors to raise as much as $400 million at a valuation of more than $1.5 billion, according to a report in The Information. That valuation, by the way, is three times higher than the ...

In an oft-cited 2019 working paper titled “China’s Overseas Lending,” we read that China has become the world’s “largest official creditor, easily surpassing the IMF or the World Bank…” Is this true in Africa (All references to Africa in this article refer to all of Africa, ...

China answered France's call to support the reallocation of billions of IMF funds that will come from an issuance of $650 billion in new Special Drawing Rights, according to a Foreign Ministry summary of remarks made by Vice Premier Han Zheng at this week's Franco-African ...

Ghanaian President Nana Addo Dankwa Akufo-Addo issued an urgent call for immediate economic relief, including the total cancellation of all debts owed by African countries, during his address on Tuesday at the Summit on Financing African Economies. Without the ‘fiscal room to breathe,’ Africa could truly become ‘the forgotten continent, ...

The day-long Summit on the Financing of African Economies wrapped up in Paris on Tuesday and left a lot of people scratching their heads wondering what exactly was the purpose of the gathering. Unlike Monday's event that focused on Sudanese debt ...

Ralph Mupita, head of the largest pan-African telecom group MTN, wants his South Africa-based telco to draw inspiration and attract more investment from China.  On the investment side, Mupita recently partnered with the Chinese state-back Silk Road Fund that funnels ...

DR Congo President Félix Tshisekedi apparently wants to renegotiate some of the contracts that his predecessor, Joseph Kabila, signed with the Chinese, according to a report by Africa Intelligence.  Argentina too, like the DRC, tried to ...

Zambia's presidential election campaign is now shifting into high gear following last weekend's nomination of President Edgar Lungu as the ruling Patriotic Front's candidate. Meantime, the country's main opposition leader, the United Party for National Development's Hakainde Hichilema (photo), indicated that he's ...

The NGO collective Forests and Finance released a new study today showing that investments by Chinese banks make it the world’s second-largest funder of projects linked to tropical deforestation.   Analyzing data from financial databases and company publications, the study found that between 2016 and 2020, Chinese ...

Nigeria's Debt Management Office (DMO) announced late last week that the country's external debts will increase to $83 billion due to $2.5 billion of new loans provided by the World Bank and the Export-Import Bank of Brazil to help mitigate the effects of the ongoing ...

The National Development and Reform Commission (NRDC), China's top economic planning agency, published a new report on Tuesday, according to the South China Morning Post newspaper, that detailed some of the key challenges confronting Beijing's new 5-year plan, with a particular focus on infrastructure development ...

The G20 is providing developing countries with yet more breathing room to repay their debts. G20 finance ministers and central bank chiefs met yesterday and announced that it would extend the Debt Service Suspension Initiative by another six months from June through December.