Spanish firm Alucoil which specializes in transforming and manufacturing aluminum-made materials for the construction, transport and industry sectors has increased its stake in Casablanca-listed Aluminium du Maroc. Accordin to a statement published on the market’s website on Jan. 17, 2017, it is said that Alucoil SAU has, in a block transaction, acquired, for an undisclosed amount, 20,160...

Tanzania announced it is in talks with the World Bank over a $200 million loan to clear Tanesco’s debt and revive the power utility. The company’s debt stood at $363 million in 2016, against $250 million the year before. The news comes after Tanzania’s president, John Magufuli, cancelled the increase (+8.53%) of power tariffs approved by the energy and water utilities...

In Algeria, after a successful experimentation of digitalization at the Boufarik’s office of State domains and land conservation, 35 km from the capital (Algiers), the technology will be extended to the rest of the country. The news was announced last Monday by the deputy minister in charge of digital economy and modernization of financial systems, Mouatassem Boudiaf. “This experimentation...

In Burkina Faso, cotton output will stand at 750,000 Mt in the 2016/17 season, due to good weather conditions, revealed the minister of agriculture, Jacob Ouedraogo. The new output is 150,000 Mt up compared to the previous season. The increase is, according to the official, due to a better quality of the crop. Indeed, 100% of seedlings used in cultivating the crop this season are traditional...

Fidelity Bank Plc, a commercial bank in Nigeria, has announced that a sum of N64 million (almost $204,000) would still be paid to its account holders and customers under the ‘Get Alert in Millions Savings’ promo aimed at extending the financial inclusion in the country. According to Chijioke Ugochukwu, the bank’s Executive Director, Shared Services, the bank had so far dispersed a...

Nigeria has revealed plans to extend telecommunications services to another 40 million people with no access to communication in 2017. According to Umar Danbatta (photo), the Executive Vice-Chairman of the Nigerian Communications Commission (NCC), a survey carried out has revealed about 200 communities nationwide with telecommunication access gap. He said through the Universal Service Provision...

In Nigeria, three states have met the 30% counterpart funding needed to access the European Union's (EU) N2.4 billion grant for water project in the Niger Delta region. The three states are Bayelsa, Delta and Edo, Business Day reports. According to Albert Achten, the Leader of the EU expert team, two out of the five beneficiary states targeted in the region are yet to fulfill the requirement in...

The Association of Telecommunications Companies of Nigeria (ATCON) has appealed to regulators in the Information and Communication Technology (ICT) industry to consider convergence. According to ATCON’s President, Olusola Teniola (photo), the lack of a united regulatory environment in the country is deterring the convergence of services in the industry. He said convergence signifies the coming...

The Government of Finland has expressed interest in supporting Nigeria in the development of its geological prospects and entire mining sector. This was declared when officials of the Geological Survey of Finland visited the minister of mines and steel development, Kayode Fayemi (photo), in Abuja, Business Day reports. According to Philipp Schmidt-Thomé, the leader of the Finish delegation,...

The President-elect of the United States, Donald Trump (photo), has raised questions as to why the U.S was still spending money to fight the Boko Haram insurgency in Nigeria and why all of the abducted Chibok girls have not been rescued. This is part of the queries contained in a four-page write up of Africa-related questions relating to terrorism and corruption raised by Donald Trump’s...