Czech investors have agreed to buy from South African giant Naspers its online auction website Aukro.cz, Reuters revealed. However, the price of the transaction was not disclosed. Aukro.cz has 3.8 million registered users. It is part of Polish Allegro group which Naspers has put up for sale this year. So far, media said Naspers received four offers for the Polish assets. Allegro is the leader...

The African agribusiness sector should generate a trillion dollars by 2030, International Finance Corporation estimates. The world bank institution indicated that an annual investment of a little above $10 billion should be poured into the sector to achieve this result. Taking for example Africa’s second largest economy, IFC’s director for processing, agribusiness and services in...

Mauritius remains Africa’s most competitive nation (45th worldwide), World Economic Forum (WEF) said in the 2016-2017 global competitiveness report it released on Sept 28, in Geneva. In Africa, the island is followed by South Africa (47th in the world), Rwanda (52nd), Botswana (64th), Morocco (70th), Namibia (84th) and Algeria (87th). Tunisia (95th), Kenya (96th), Cote d’Ivoire (99th) come...

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has commissioned four petrol storage tanks at Mosinmi Depot in Ogun State. According to Baru, the dismantling and reconstruction of tank 13 and renovation of tanks 11, 12 and 22 at the Mosimi Depot would ease product distribution and increase the storage capacity of the depot by 220,000 litres.The...

The President of Nigeria, Muhammadu Buhari (photo), has announced that India plans to increase the amount of crude oil it imports from Nigeria. This is coming more than a month after India and the United States have reduced their imports of Nigerian crude oil by 43 per cent and 53 per cent, respectively. India reduced its imports from Nigeria in May 2016 as it bought 7.74 million barrels,...

To deal with the anarchic occupation of urban land and speculation, the Togolese minister of Urbanism and Housing, Fiatuwo Sessenou suggests a stricter control. To this end, he designed a “project that aims to deal with this disastrous situation”. The objective here, according to news website Ici Lomé, is sanitize management of urban land by forcing buyers or users to proceed to specific...

Seychelles’ President James Michel announced on September 27, 2016, his resignation from his party “Le Lepep”, as opposition won legislative elections. His resignation will take effect next October 16. It is the first time that the opposition gets the majority in parliament since 1993 when the multiparty system returned. “After 12 years as president, the time has come for me to leave my...

After beating the Johannesburg stock exchange in April 2016, the Casablanca Finance City (CFC) has now dethroned Abu Dhabi’s market thus becoming the MENA’s (Middle East and North Africa) second largest stock market. This was revealed in the Global Fiancial Centers Index (GFCI) released twice a year by British think tank Z/ Yen Group and the China Development Institute. From April, the CFC...

Lucapa Diamonds has generated in its latest sales of diamonds recovered at its Lulo mine, $4.1 million. The firm has sold 2,209 ct at an average price of $1,868 per ct. Its sales thus totaled for the calendar year $32.1 million. Lucapa is set to proceed to another diamonds sale next October. It should on this occasion find buyers for the two type IIa diamonds which it has...

Algeria plans to further open its banking market to private, local and foreign investors. Its government intends to allow state-owned banks to get listed in order to diversify their sources of financing and grow their stock activities, under 2017 state budget project. According to Reuters, under this project, foreign investors will be able to become majority shareholders in Algerian banks, thus...