The Trade and Development Bank (TDB), formerly known as Preferential Trade Area Bank or PTA, is set to establish in Mauritius an office. This was revealed by Mauritius’ Prime Minister, Praving Jugnauth, in a statement released on March 21 after a meeting with TDB’s managing director, Admassu Yilma Tadesse, in Port Louis. “The opening of the Trade and Development Bank office is proof that...

Cote d’Ivoire’s government will seek a new budget support from the International Monetary Fund (IMF) to plug the deficit arising from drop in cocoa prices, Bloomberg reported on March 27, citing government’s spokesperson, Bruno Koné. “With cocoa prices decreasing, we have new budget constraints,” Koné said. According to the officials, Cote d’Ivoire will ask for the support from...

The World Bank, in order to boost agricultural productivity in Nigeria, has approved a $200 million credit facility during the weekend to further support small and medium scale farmers in the country. The loan attests that the World Bank recognizes agriculture as the gateway to Nigeria’s long-term economic growth and diversification, according to Word Bank Country Director, Rachid...

Subsequent to the signing of a Memorandum of Understanding (MoU) on the supply of phosphate between Nigeria and Morocco, 50,000 jobs have been created. According to the Group Managing Director of NNPC, Maikanti Baru (photo), who revealed the news on the sidelines of a meeting with the National Coordinator of the New Partnership for African Development (NEPAD-Nigeria), Princess Gloria Akobundu,...

In Senegal, the government invested CFA30.2 billion in the 2016-17 groundnut campaign. This was revealed by the minister of agriculture and rural equipment, Papa Abdoulaye Seck. In regards to the profits that the investment will bring about, the official said so far 417,000 tons of the crop have been harvested. Of this volume, 188,000 tons have been exported while 128,000 tons were sold to...

Dakar has signed with the African Development Bank (AfDB) a loan agreement to build the Rosso bridge which will connect Senegal to Mauritania. The bridge will close the 1,461 linear metres gap separating Mauritania from Senegal. The gap is explained by the presence of River Senegal. AfDB’s loan which is estimated at about CFA26.7 billion represents 46.5% of the project’s total cost, that is...

The Arab Fund for Economic and Social Development (AFESD) provided Mauritania a loan facility of $43.7 million. The funding will serve to improve water and energy supply in the country. The agreement related to the facility was signed on March 22 by Mauritania’s minister of economy and finance, Moctar Ould Diaye, and AFESD’ president Hassab Rassoul Al Abid. In regards to the funding, it...

At the end of the council of ministers held last March 22, two bills related to the establishment, organization and operating structure of the National Directorate of Cadaster and that of Domains were adopted. The two institutions will arise from the division of the National Cadaster and Domains Directorate, which is in charge of land affairs in Mali. “The adoption of these bills will help...

The Federal Government has set aside N2 bn ($6.3 million) in the 2017 budget to kick-start its Rural Electrification Fund (REF), according to Louis Edozien, the Permanent Secretary of the Ministry of Power. Edozien explained that the REF is aimed at enabling private investors with viable off-grid renewable electricity projects in rural communities across the country get access to financing to...

The European Union (EU), under phase III of its Water Supply and Sanitation Sector Reform Programme, has set aside €40 million to boost water supply in three states in Nigeria. These states are Ekiti, Adamawa and Plateau. According to an EU official, Alaba Ogunsajo, the three states and their local governments contributed to about €4 million in the same framework. Speaking on the...