There is no rice shortage in Senegal. That is what declared the president of the national rice farmers association, Ibrahima Thioub said “rice importers are spreading this lie to buy rice outside since it is cheaper than that sold locally”. According to the official, “the substantial amounts of rice stored in the valley’s warehouses could supply the market if the sellers would buy them....

World Bank has announced at the ongoing COP22 in Marrakech a new plan to boost its aid to Middle East and North African (MENA) nations, in the framework of the fight against global warming. Over the next four years, the institution plans to double its climate financing for the region, to almost $1.5 billion per annum, by 2020. “Climate change will worsen a situation which is already...

Chief Executive Officer of the Tunisian land office Béchir Kthiri airing on Express FM on November 15 announced that the State has recovered 68,000 ha of agricultural lands. The move is part of an operation led by the government to recover lands that belong to the State. “The Tunisian State has recovered a total of 128 plots, 68,000 hectares overall,” he said adding that his office would...

This Nigerian music label hit a record on Instagram’s popularity chart. Its name is Mavin Records. Owned by producer and singer Don Jazzy, the label passed on Nov. 11, 2016, the bar of one million followers on the social network. Mavin Records thus beat major labels such as Universal Music Group, Sony Music Entertainment, Warner Music Group, Def Jam Records, Atlantic Records, Maybach Music...

Multinational Lundin has decided to sell its 24% stake in Tenke Fungurume project, in DR Congo, to Chinese firm BHR Partners for $1.44 billion. The transaction is expected to close in the first half of 2017 and is subject to the regulatory approvals. Under the terms of the deal, if copper price exceeds$3.5/Ib within the 24 months starting January 1, 2018, BHR will also have to pay Lundi a...

South Africa casino operator Sun International plans to expand its activities to Brazil and Peru, Reuters reported on Nov. 14, citing one of the group’s officials. “Plans are well advanced to expand in the region. We have plans for expansion in Peru and further down the line, Brazil seems to be opening up to licensed casinos,” Chief Executive of Sun International Graeme Stephens told...

China and France announced on November 15 the official launch of a €300 million investment fund to finance joint projects in Africa and Asia. The fund was launched on the sideline of the visit of China’s deputy Prime Minister, Kai ma, to France. Managed by CDC International Capital (CDC IC), subsidiary of Caisse des Dépôts dédiée aux partenariats d’investissements directs, and...

Experienced banker Lorato Boakgomo-Ntakhwana (photo) has been appointed as new Chairman of the Botswana Telecommunications Corporation Ltd (BTCL), one of the major local companies listed on the Botswana Stock Exchange. Local media suggest that the appointment should restore investor confidence, and pull up the firm’s market capitalization. BTCL’s listing on the Botswana Stock Exchange last...

Kenyan Energy Regulatory Commission (ERC) in its latest price review which will take effect from November 15 to December 14, 2016 increased the maximum retail prices of petrol, diesel and kerosene in the country. According to the Agency, in Nairobi, super petrol will retail at Sh94.94 per litre, diesel at Sh82.17 per litre while kerosene will increase to Sh62.16 per litre. In Mombasa, a litre of...

Azerbaijan’s state oil company, SOCAR, has announced that it is currently thinking of the possibility of constructing an oil terminal in Cotonou, Benin. This was declared during a visit by the Azerbaijani delegation led by the country’s Energy Minister Natig Aliyev to Burkina Faso and Benin in response to the call of the countries’ governments. During the meetings, the sides discussed...