Moroccan lenders BMCE Bank of Africa and Banque Centrale Populaire (BCP) are getting ready to issue more than $250 million of green bonds. The Moroccan Capital Markets Authority (AMMC) has already approved on November 4, the issuance of 500 million dirham (about $50.5 million) of green bonds by BMCE Bank of Africa which will thus become the first Moroccan lender to issue such bonds....

In Madagascar, in sight of the coming 16th Francophony Summit on November 26 and 27, land owners expropriated by the government in the framework of the Ivato-Tsarasaotra road project which is to be developed as part of the event claim the State has abandoned them. According to NewsMada, owners of lands concerned by the project still wait for the compensation they were promised two months ago....

Already in a tense relationship with Ivorian rural communities due to the exploitation of argricultural lands, Burkinabe citizens living in Cote d’Ivoire have had their situation worsen with the adoption of the new Ivorian constitution. The new legislation indeed states that “only the State, public bodies and Ivorian private persons can acquire rural lands”. The measure which was welcomed...

The International Energy Agency (IEA) has kept its demand growth outlook for 2016 at 1.2 million bpd and expects consumption to rise at the same speed in 2017. In its monthly oil market report, the IEA announced that the oversupply in the oil market may hit a third year in 2017 without an output cut from the Organization of the Petroleum Exporting Countries (OPEC). The group added that the...

At a Ministers Council held on Nov. 8, 2016, the government of Togo announced it was seeking funds to rehabilitate and built the Lomé-Cinkassé backbone. The request  for financing was submitted by the government at the sixth edition of the Tokyo International Conference on African Development (TICAD VI), organized by Japan’s Cooperation,         ...

The African Trade Insurance Agency (ATI) urged the Tanzanian government to reinforce their partnership. It said it was ready to facilitate the mobilization of $1.2 billion of investment in the local energy sector, for projects which will lead to the development of an additional 1,200 MW to the national grid. In return, the country must commit to promoting the various projects that it backs...

The Global Shea Alliance aims to double its output in West Africa. To do so, the association plans to spend $13 million to assist shea farmers and expand markets. Achieving this goal would bring the region’s shea output to 1.2 metric tons by 2021. “We want to expand shea utilization in food and cosmetic markets. We seek to plant 500,000 new trees and build warehouses,” said the...

Zimbabwe’s largest coal producer, Makomo Resources, was ordered 15,000 metric tons of a variety of the fuel by Europe. Finance director, Tenai Mungoni, said the coal will be shipped next month, without naming its final destination saying it was confidential, Bloomberg said. The coal will pass through the Beira port in Mozambique. However, the company is still negotiating with its authorities...

Swedish home appliance giant Electrolux announced in a statement released Nov. 10 it will buy South African water heater producer Kwikot Group, for two billion Swedish crowns (about $221 million). Based in Johannesburg, Kwikot achieved a turnover of 730 million crowns ($81 million) and an operating margin of more than 20%, the same source added. By acquiring the SA-based firm, Electrolux...

In Ghana, the Agricultural Development Bank (ADB) plans to re-launch next week its initial public offering (IPO) ahead of listing on the Ghana Stock Exchange. The group through this operation aims to raise $150 million to increase its financing target by 50%. However, the bank’s president, Nana Soglo Alloh, told Bloomberg that the government must first approve the operation as it holds...