Africa Briefs

Billion-strong fund for African SMEsFrance is setting up a billion-euro (US$1.2 billion) fund for small- and medium-sized African businesses, President Emmanuel Macron announced Tuesday.Macron, visiting Burkina Faso at the start of his first African tour, said the money could be used to help firms maximise value from agriculture, but also the digital sector.He said the ultimate objective is "to multiply this fund tenfold, which is absolutely do-able if we appeal to our European allies or other private financiers, European or non-European". – Nampa/AFPEgypt scraps FX restrictions for importersEgypt's central bank has removed caps for the deposit and withdrawal of foreign currency for importers of non-essential goods, the latest sign of improving US dollar liquidity at banks.The central bank in 2012 implemented a deposit limit of US$10 000 per day and US$50 000 per month as well as a US$30 000 per day withdrawal limit for importers of non-essential goods.The cap on deposits and withdrawals for non-essential importers was among the final foreign currency restrictions still in place since Egypt's currency crisis began and its removal was among the reforms agreed to as part of the IMF lending programme. – Nampa/ReutersAngola opens market to 4th mobile providerAngola is to allow a fourth mobile operator to enter its profitable telecommunications sector in a move which could impact business interests linked to former president Jose Eduardo dos Santos.The mobile phone sector is currently shared between two private firms, Movicel and Unitel, the country's leading operator. Isabel dos Santos, the former president's oldest daughter, holds a controlling stake in Unitel while her half-sister, Welwitschia dos Santos, holds a stake in Movicel.Angola also announced moves to privatise 45% of the capital of state-owned Angola Telecom.Ghana cuts interest rate to 20%Ghana's central bank has cut its benchmark interest rate by 100 basis points to 20%, citing a drop in consumer inflation and the possibility of steady economic growth.The major commodity exporter this month raised its 2017 growth forecast to 7.9% from 6.3% on expected oil production, and 2018 growth is seen at 6.8, marking a turnaround of sorts for an economy that in the previous three years has averaged less than 4%.It has undergone an IMF loan programme to reduce its fiscal deficit and public debt and stabilise the volatile local currency. – Nampa/Reuters

Africa Briefs

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Namibian Sun 2026-04-27

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Africa Briefs

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Namibian Sun 2026-04-27

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