Bridge Bank Group secures US$11m Murabaha financing from ITFC to support private sector and SMEs

COTE D’IVOIRE – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), granted a Euro 10 million (US$11.83m) Murabaha financing to Bridge Bank Group, Cote d’Ivoire (BBGCI). The facility represents a significant portion of BBGCI’s remaining 2021 trade financing requirements and enables BBGCI to support the Bank’s growing private sector clients as well as small-to-medium-sized enterprises (SMEs). BBGCI, Cote d’Ivoire’s nineth largest bank by total assets, will make the funding available to the Bank’s growing client-base, especially importers operating in sectors such as…

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Moja Ride startup partners O-CITY for digital innovation and future expansion

COTE D’IVOIRE – Moja Ride, an Ivorian startup providing a reservation and cashless payment system for transport services in Abidjan, has partnered with O-CITY for its next phase of digital innovation and future expansion. Through its open loop platform, O-CITY will enable public transport drivers to accept different payment methods from passengers, including QR code, NFC, and prepaid cards such as the ‘Moja Carte’ which can be topped up to pay for public transport. The recharge is done either through mobile money or a network of agents. Transport operators, owners…

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World Bank to support development of agri-food sector in Cote d’Ivoire with US$250m financing

COTE D’IVOIRE – The World Bank has approved US$250 million in total financing from IDA to support the development of the agri-food sector and the creation of thousands of jobs in rural areas of Cote d’Ivoire. With this financing, the Agri-Food Sector Development Project aims to remove the major obstacles hindering the growth of the agri-food sector and spur the development of more inclusive, resilient and competitive agri-food value chains. The project will promote real opportunities to forge private partnerships among stakeholders in targeted value chains such as cassava, horticulture,…

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BLOC Smart Africa launches its fund with US$12m boost from Luxembourg and Cote d’Ivoire

COTE D’IVOIRE – BLOC Smart Africa, a Flagship program of the Smart Africa Alliance, a pan-African initiative to accelerate sustainable socioeconomic development, has announced its incorporation and sponsorship from the Governments of Luxembourg and Cote d’Ivoire. The Governments of Luxembourg and Côte d’Ivoire will invest a total of €10 million (US$12.13m) into the BLOC Smart Africa Fund. This announcement follows the Cote d’Ivoire’s previous intention to commit €5 million (US$6.06m), announced at the United Nations High-Level Political Forum in July 2020. BLOC Smart Africa is a blended finance technology impact…

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Government inaugurates new drinking water facilities in Zorofla

COTE D’IVOIRE – Côte d’Ivoire’s Minister of Hydraulics, Laurent Tchagba has inaugurated a new drinking water supply system (AEP) in Zorofla, a village located in the sub-division of Kanzra. Speaking during the project’s commissioning, Laurent Tchagba, said that the system will improve access to drinking water in the Village which had for a long time got it water supply from ponds, well, or from outdated human powered pumps. The newly commissioned water supply system comprises of a groundwater pumping system that that delivers waters to a 50 m3 water tower.…

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Ivory Coast launches new hydro-agricultural dam to boost water supply for agriculture

Kandadji water and electricity management scheme

COTE D’IVOIRE – The Ivorian government has launched the construction of a dam in the council of Koro in the northwest region of Ivory Coast to boost water supply for agricultural activities in the region. The foundation stone for the dam was laid by the Ivorian Minister of Budget and State Portfolio, Moussa Sanogo, and the Minister of Agriculture and Rural Development, Kobenan Kouassi Adjoumani marking the start of construction work on the dam on the Yirima River. According to a report by Afrki21 the water reservoir located on the…

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Côte d’Ivoire’s General Confederation of Enterprises partners GIZ to promote energy efficiency in companies

COTE D’IVOIRE – The General Confederation of Enterprises of Côte d’Ivoire (CGECI) has partnered with German development agency, GIZ to launch an energy awareness initiative that aims to boost the competitiveness of Ivorian companies, while reducing their carbon footprint. The CGECI/GIZ second awareness and information campaign for businesses and industries in Bouaké on energy efficiency and renewable energy is being launched at a time when low-energy and low-carbon industrial development is being popularized in Ivory Coast. Energy efficiency is especially becoming popular as it reduces running costs for businesses, lowers…

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Nestlé invests US$2.6m to conserve and rehabilitate Cavally forest reserve in Côte d’Ivoire

CÔTE D’IVOIRE – The Nestlé group has signed a memorandum of understanding with the Ministry of Water and Forests of the Republic of Côte d’Ivoire for the implementation of the CHF 3.34 million (US$3.5m) project aimed to conserve and rehabilitate the Classified Forest of Cavally, of which Nestlé is contributing CHF 2.5 million (US$2.6m). The agreement was signed by Mr. Alain-Richard DONWAHI, Minister of Water and Forests and Mr. Thomas CASO, Managing Director of Nestlé Côte d’Ivoire, in the presence via video-conference of Mr. Magdi BATATO, Executive Vice-President, Director of Nestlé…

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