The Tony Elumelu Foundation (TEF) has unveiled a $15 million grant aimed at empowering 3,000 young entrepreneurs across 52 African countries as part of its 2025 entrepreneurship programme. The announcement was made in Abuja on Saturday, March 22, by the Foundation’s founder, Mr. Tony Elumelu, who is also the Chairman of Heirs Holdings, Transcorp, and...
Cameroon signed two financing agreements with the African Development Bank (AfDB) on March 19, 2025, for the reconstruction of the Ngaoundéré-Garoua road. Totaling 216 billion CFA francs, this financing aims to rehabilitate a strategic 242-km section linking Adamawa to the north of the country. The work, which will also include socioeconomic improvements, will begin in...
Gabon and Equatorial Guinea are taking a new step in their energy cooperation. On March 20 , 2025, in Malabo, the two countries signed an electricity grid operating agreement, thus solidifying their commitment to strengthening subregional energy interconnection. This agreement, which follows the official commissioning of the infrastructure on February 22, 2025, aims to provide a stable electricity supply...
The Ad Hoc Committee of the Guided Trade Initiative (GTI) of the African Continental Free Trade Area (AfCFTA) in Cameroon met on March 20, 2025, at the headquarters of the National Shippers’ Council of Cameroon (CNCC) in Douala. Under the chairmanship of Mr. Auguste MBAPPE PENDA, Director General of the CNCC, the meeting was attended...
Dr. Samuel Munzele Maimbo, Zambia’s candidate for the African Development Bank (AfDB) presidency, has outlined his vision to Cameroonian authorities as part of his campaign. The current Vice President for Budget, Performance Review, and Strategic Planning at the World Bank met with Prime Minister Dr. Chief Joseph Dion Ngute and Minister of External Relations Mbella...
Gabon has disbursed nearly 18 billion CFA francs to clear its arrears with the World Bank, aiming to rebuild investor confidence and revive international funding opportunities. Gabon has taken a significant step in improving its public financial management, announcing on March 19, 2025, the payment of 17.9 billion CFA francs to settle its outstanding debt...
The Tony Elumelu Foundation (TEF) will announce the 2025 Cohort of its flagship TEF Entrepreneurship Programme on Saturday, March 22, at 10 AM. Since its launch, TEF has provided over $100 million in direct funding to African entrepreneurs, creating 1.5 million jobs and generating $4.2 billion in revenue. More than two million Africans have been...
The Africa Global Logistics (AGL) group announced on March 10 that its subsidiary Congo Terminal had signed a financing agreement of 150,880,000,000 CFA francs (230,000,000 euros) for the expansion of the container terminal at the Autonomous Port of Pointe-Noire (PAPN). The signing of the agreement was made possible thanks to a banking round led by...
A US fintech delegation, led by the US Ambassador, discussed with the Minister of Economy the expansion of financial inclusion through artificial intelligence and the digitalization of financial services. The executives of the American fintech Azamra, accompanied by the United States Ambassador to Cameroon, HE Christopher John Lamora, were received in audience on Wednesday, March...
