Rwanda plans to double the volume of roasted coffee it exports, The East African reports. The switch to roasted coffee by the nation is due to lower revenues from raw coffee exports. This is explained by price volatility on the international market. Exports revenues for the commodity indeed slumped from $40.5 million in 2015 to $36.8 million this year, according to statistics from...

Namibia’s economic growth will be significantly boosted in 2017 by uranium production which should double after processing activities commence at the Husab mine, BMI Research revealed in its latest report released yesterday, December 13, 2016. “While we have downgraded our 2016 growth forecast from 3.8% to 1.5% owing to sharp contractions in the construction, mining and agricultural sectors...

The Gibe III hydropower dam in Ethiopia will be commissioned this Saturday, Dec. 17. The 1870 MW infrastructure which has 10 turbines, generating 187 MW each, was developed by Italian Salini Impregilo. Construction took nine years and produced a 243m-long dam with a reservoir of 15 billion cubic meters. It cost €1.5 billion of which the Ethiopian government provided 40% while remaining...

Algeria's Sonatrach has announced that it has won an international arbitration case concerning a contract disagreement with Medex Petroleum North Africa. The Algerian oil company filed the arbitration claim in 2015 in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL), to terminate contracts with Medex due to the latter’s failure in...

France's Engie E&P is currently eyeing more investment opportunities in Egypt's oil and gas sector. This was declared by Egypt’s Oil Minister Tarek El-Molla during a meeting with the CEO of France's Engie E&P International, Maria Moræus on Wednesday, to discuss available investment opportunities. El-Molla added that the Egypt and French partnership in oil and gas fields is constantly growing...

Mining firm Bushveld Minerals signed a deal, via its Greenhills Resources subsidiary, to acquire a 49% stake in Dawnmin Africa Investments, which owns 85% of the Uis tin mine, in Namibia. Under the agreement, Greenghills is to conduct due diligence on the project. If conclusive, the firm will acquire the 49% interest for about 41 million ordinary shares of Bushveld Minerals. The acquisition is...

Morocco plans to issue sukuks before the end of the first half of 2017, minister of economy and finance, Mohamed Boussaid announced on December 8, highlighting that the operation is part of a program to establish the appropriate environment for upcoming Islamic banks in the kingdom. “The new financial instruments should contribute to the growth of the participative bank by, depending on the...

Private equity firm LeapFrog Investments plans to raise $800 million for its third Africa-focused fund dedicated to financial services, Bloomberg reported on December 13, citing one the firm’s officials. “Overseas Private Investment Corp., the Washington-based development financing unit of the U.S. government, has approved an investment of as much as $200 million in the fund, the...

MTN has officially launched 4G in Congo on December 10, 2016. The Congolese people now have access to the fast internet technology which gives access to value-added services. Prime Minister, Mr. Clement Mouamba, was the one to launch the technology in Brazzaville, the capital. Commenting the launch, the Minister of Posts and Telecommunication, Léon Juste Ibombo, said it results from the full...

The Algerian government is looking at opening subsidiaries for State-owned banks abroad, in Africa especially, the minister of finance, Hadji Baba Ammi, announced on December 3. “The ministry is conducting a study to open subsidiaries for Algerian banks abroad, in African countries especially,” the official told the press at the African investment and business forum. “This mostly...