Trade volume between Morocco and the rest of Africa increased by 11% average per annum between 2005 and 2015. This was revealed in the financial and economic report joined to the 2017 draft budget submitted by Morocco’s government. In 2015, it stood at 40 billion dirham ($4.08 billion) and represented 7% of Morocco’s external trade, against 5% in 2005. Sub-Saharan Africa positioned itself as...

Gathered for a conference to assess gains of the YieldWise initiative by the Rockfeller foundation, experts said last Wednesday that Africa’s food imports could explode if the continent failed to solve its post-harvest losses issue. The experts said that if nothing was done, food imports by the continent, currently at $35 million per year, could soar to $110 billion by 2025. “Most...

South African pharmaceutical chain Dis-Chem said it would raise $359 million by listing on the Johannesburg stock market. The move aims to slash the firm’s debt and allow its founders to compensate some of their investments. To this end, it plans to sell 27.5% of its capital, which is 238.4 million shares at unit price of R16.25-R20.55, valuing the company at $1.44 billion....

In Ivory Coast, cocoa output for the main season will stand between 1.27 million and 1.3 million tons, Reuters revealed after questioning exporters. Three of these exporters estimated that the output would stand around 1.3 million tons. However, a fourth one set it lower considering the brown rot threat. “We have revised our forecast because our on-field team notified us of brown rot which we...

African Import-Export Bank has already mobilized more than $3 billion of which one billion through Eurobond issuances, ahead on it initial schedule, Reuters reported on October 28 citing the lender’s executive deputy chief, George Elombi. In May 2016, Afreximbank said it would raise $3 billion by the end of December, through Eurobonds, and by securing syndicate loans from States and...

Uganda’s Energy Minister, Irene Muloni (photo), has announced that Total SA agreed to take a 10% interest in the country’s planned refinery, as it hunt for other investors for the $4 billion plant. The country’s negotiations with a group of investors led by RT GlobalResources LLC, on the construction of the refinery failed earlier this year, while planned discussions with a group...

Tawana Resources, active on the Uis lithium project in Namibia has announced a fundraising for AU$7.2 million ($5,484,669) to advance its projects. Fundraising will take place in two tranches, during which 60 million shares will be placed at $0.12 per share. The firm said added during the first step 29.6 million shares will be issued and in the second 30.3 million shares. Tawana will use...

Australian miner Intra Corporation signed with Chinese power developer Sinohydro a memorandum of understanding (MoU) for the joint development of the 270 MW coal-fired Ngaka power plant. Under the MoU, Sinohydro which is the project major shareholder will conceive, build, finance and operate it. Tancoal Energy, subsidiary of Intra Energy will provide coal that will be used as fuel. It was...

Mozambique’s two main cotton farmers associations forecast output for the 2017/18 season at 70,000 tons. If confirmed, it would mean output for that season would have increased by 3,000 tons compared to that of ending 2015/16 season. Despite the slight increase, production is still far from the crop’s golden age in the 1972/73 season when the country produced 144,000 tons of cotton....

Oceaneering International, a global provider of engineered services and products, primarily to the offshore oil and gas industry, has announced that it has secured a two-year contract extension with a unit of BP till January 2019. The extension comes under the Field Support Vessel Services contract entered into with the Company for work offshore Angola on Blocks 18 and 31. Under this contract...