The African continent has been hit later than other regions from the pandemic, but it’s becoming a major challenge
Finance
Nigeria's Bank of Industry raises US$1.11bn

The bank is poised to catalyse domestic production and job creation on a transformational scale. (Image source: stevepb/Pixabay)
The Bank of Industry (BOI), Nigeria’s oldest and largest development financing institution, has raised US$1.11bn from the international capital market, with an aim to serve its customers better
Tongaat Hulett invests in Mozambique sugar factory

The sugar companies will launch their 2020 production on 7 April. (Image source: Rudy and Peter Skitterians/Pixabay)
South African company Tongaat Hulett has promised to invest around US$29.5mn to boost sugar production in Mozambique
US$3bn ‘Fight COVID-19’ social bond launched in Africa

The AfDB deploys funds to assist the African population with all essential goods, services and infrastructure. (Image source: Andrea/Flickr)
The African Development Bank (AfDB) has raised a US$3bn in a three-year bond to help alleviate the economic and social impact the COVID-19 pandemic will have on livelihoods and Africa’s economies
AfDB to provide policy-based operation to boost Somalia’s economy

AfDB’s current portfolio in Somalia totals US$135mn, covering operations in a wide range of sectors. (Image source: AfDB)
Arrears on loans owed by Somalia to the African Development Bank (AfDB) Group have been cleared following the payment in full of US$122.55mn by the governments of the UK and the European Union