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AfricaBiz

Africa Business News

Benin Tender and Business News

Lome-Cotonou Road Connecting Benin and Togo to Get Important Repairs

The Republics of Benin and Togo recently received approval for a US $40.8 million loan to upgrade a four-lane 30 kilometer road section that runs between the capitals of both countries. The repairs will reinforce the road and help minimize impacts of coastal erosion along the route.

African Trade Insurance Agency Shows Support for New Benin Government

George Otieno, the CEO of the African Trade Insurance Agency (ATI), recently met with the newly appointed President of Benin, H.E. Patrice Talon, to discuss possibly use of at least part of ATI's $760 million worth of investments in its pipeline. The goal is to find a way to support Benin's Vision 2030 that places Public Private Partnerships on energy and business development at its core.

Elephant Census Ramps Up Pressure to Stop Domestic Trade in Ivory

A dramatic decline in Africa’s savanna elephant populations caused by poaching – as exposed by the results of a three-year aerial survey released this week – has piled pressure on reluctant governments to back proposals that would lead to bans on domestic trade in ivory. The issue is being raised at the IUCN World Conservation Congress happening in Hawaii this week.

Dire Warnings But Also Hope as IUCN Environmental Congress Opens

A congress billed as the world’s largest ever to focus on the environment has opened to warnings that our planet is at a “tipping point” but also with expressions of hope that governments, civil society and big business are learning to work together.

More Help Needed to Deal with Food Insecurity in the Wake of El Niño

United Nations leaders said today that much more needs to be done to prevent further suffering, strengthen resilience and preserve livelihoods in the wake of El Niño's devastating effects worldwide. Africa was the worst hit, with 40 million of the estimated 60 million affected globally residing in East and Southern Africa.

Winners of 5th Annual African Innovation Foundation Awards Announced

The African Innovation Foundation (AIF, AfricanInnovation.org) recently named its award winners on the fifth anniversary of its Innovation Prize for Africa (InnovationPrizeforAfrica.org). The top two awards went to nominees from Benin and South Africa. There was also a Special Prize for Social Innovation announced during the same ceremony.

Benin and IMF in Discussions on Possible Economic Development Program

A team from the International Monetary Fund, led by Christine Dieterich, Mission Chief for Benin, visited Cotonou from June 6-18. The purpose was to start discussions with IMF representatives about a possible three-year economic program supported by the IMF's Extended Credit Facility (ECF) arrangement.

RMB Reaches Nearly 40% Adoption Across Financial Institutions Worldwide

SWIFT data shows a double digit growth of RMB adoption by financial institutions established in all regions. In February 2016, 1,131 banks were using the RMB for payments with mainland China and Hong Kong, representing 37% of all institutions exchanging payments with mainland China and Hong Kong across all currencies.

Pollinators Vital To Our Food Supply Under Threat

A growing number of pollinator species worldwide are being driven toward extinction by diverse pressures, many of them human-made, threatening millions of livelihoods and hundreds of billions of dollars worth of food supplies, according to the first global assessment of pollinators.

Rice: Africa's Ticket Out of Poverty

Africa is eating more rice than other food staples, though it produces less than it needs. This is good news for the cereal’s potential to help Sub Saharan Africa out of poverty according to researchers.