Tunisian authorities announced in as statement that private buildings constructed on State lands in the Cap Negro region have been demolished, on order of Beja’s Governor. The buildings’ owners were warned by the State secretary for Public domains and Land affairs, Mabrouk Kourchid, last October, the 20th, as he visited the region. “Illegal constructions across Cap Negro, which is part of...

The first production unit of Mount Coffee hydropower plant will be tested for the first time this Saturday, Dec. 3. With a capacity of 22MW, the turbine will be tested until December 15, when it will effectively go online. It should be recalled that the testing is a step toward the rehabilitation of the Mount Coffee hydropower dam which has a total capacity of 88 MW. The infrastructure was...

French car manufacturer PSA Peugeot-Citroën announced in statement dated November 29, 2016, it will build in Tunisia a car assembly unit to serve the local market. “PSA and its Tunisian partner Stafim signed a letter of intention to assemble and sell in Tunisia a Peugeot pick-up model. The project will start mid-2018 with an annual production capacity of 1,200 units to meet the demand of...

Ethiopia signed on December 2, 2016, a financial agreement with the International Fund for Agricultural Development (IFAD) to develop small-scale irrigation systems. Initialing the agreement were Kanayo Nwanze, IFAD’s president, and Mulugeta Alemseged, Ethiopia’s ambassador to Italy and the United Nations. Valued at more than $144 million, the agreement includes a $102 million loan...

Forbes Africa in its December 2016-January 2017 edition published the second edition of its rankings of wealthiest individuals and families, in the Francophone part of sub-Saharan Africa, a region which is often forgotten in the world’s main rankings of wealthy individuals. In the region which has “for long been ignored by economic press”, the richest person is Cameroonian Baba Danpullo...

Earlier this week, the government of Togo, during a council of ministers, adopted a decree to establish the Société d’Infrastructures Numériques or SNI (Digital Infrastructures Company). The firm will hold the nation’s strategic telecom capital. Clearly put, SIN will own the main telecom infrastructure used to provide quality telecom services across the nation. The decree states that the...

Mining giant Anglo American announced on November 30, 2016, that it will sell its 9.7% stake in South African firm Exxaro. The firm said it will use proceeds from the sale to reduce its debt. The 9.7% stake (35 million shares) was valued at around R3.38 billion ($240.2 million), based on the closing rate fixed at the closure of JSE on Tuesday. Anglo American announced a 40% increase in its...

Data published by the Central Bank of Egypt reveals that trade between the North African nation and the rest of the world slumped during the 2015/16 fiscal year, by $8.54 billion. It was estimated at $75.02 billion over the period, against $88.55 billion in 2014/15. The situation according to the institution results from a decrease in imports and exports. The bank said the...

Commercial bank for Africa plans to launch, in 2017, its M-Shwari mobile banking service in Cote d’Ivoire and Rwanda, in partnership with MTN, which has subsidiaries in both countries. “Our feasibility studies conducted on Cote D’Ivoire show that it is a very promising market,” said Chris Pasha, head of marketing at CBA, cited by Kenyan media Daily Nation.     Launched in...

To rapidly expand its audience, Agribusiness TV plans to produce a monthly program which will be broadcasted on traditional TV stations in Africa, both public and private channels.  The station also said it would start producing and broadcasting fully mobile-adapted videos. Stories will be shot, edited and broadcasted with mobile phones. Agribusiness TV is a project of MediaProd, a...