The tie is tightening around President Zuma’s neck as his appeal request to the court in arms case was rejected. “We seriously considered whether the appeal would have reasonable prospects of success and came to the conclusion that there are no merits in the arguments,” said High Court Judge Aubrey Ledwaba. South Africa’s president is accused of corruption in an arm deal...

African Development Bank (AfDB) announced in a statement published on June 22 it has granted Uganda and Rwanda a total of $245 million in loans to finance road infrastructures which aim to facilitate trade in the region. Uganda will receive from this sum $151 million to build a 23.7km-long freeway which will connect Kampala (Busega area) to Mpigi, which is located in the North...

Mining firm Armadale Capital which operates the Mpokoto gold project in DR Congo, raised £825,000 by placing 41.25 million shares at 2p a share with new and existing investors. The firm said it would use the money to support the development of the Liandu graphite project which it is acquiring in Tanzania. “Having identified high grade graphite mineralisation at the Liandu project in...

According to agricultural news platform N’Kalô, West Africa’s cashew output will increase by 108,000 tons in 2016. Harvest should produce 1.590 million tons against 1.482 million tons last year. The main driver of this rise will be Cote d’Ivoire whose production will grow by 50,000 tons to 750,000 tons. In Mali (45,000 tons), Guinea Bissau (225,000 tons) and Nigeria (160,000 tons),...

In Senegal, mobile operators Tigo and Expresso just expressed their interest in acquiring 4G licence which was recently obtained by the Société nationale des télécommunications (Sonatel). Senegal’s president Macky Sall announced that talks were ongoing in this regard between the telecom firms and the National Authority for Posts and Telecommunications (ARPT). On 23 June 2016, during the...

Trade volume between Switzerland and Africa has reached 4.75 billion Swiss francs (€4.37 billion), a significant drop compared to 2014, according to data from Swiss customs federal management and reviewed by Agefi. Exports from Switzerland to Africa generated 3.22 billion francs (€2.96 billion) in 2015, down 12% compared to 2014. Imports from Africa to the European country have slumped by...

According to the latest edition of Secteur Privé & Développement (Private Sector & Development) published by Proparco, AFD’s arm in charge of private sector, Northern Afric airlines dominate Africa’s air traffic. Over a total of 44.075 million passengers, these companies namely Egyptair (first with 18 million passengers), Air Algerie (second with 12 million), Royal Air Maroc...

Renewable energy developer Mainstream has received $117.5 million to accelerate its wind and solar plants projects in Africa. The agreement related to the funding which is still to be approved by the firm’s shareholders should help finance Lekela Power, in joint-venture with Actis. With the funding, Lekela will be able to achieve its goal knowingly develop 1,300 MW power plants across...

Ecobank Transnational Incorporated said in a statement mailed by the firm’s Communication Director on June 23, 2016, it does not plan to close any of its subsidiaries. Ecobank is currently reviewing its business model… However, this does not in any way translate to the planned closure of any of subsidiaries. The statement was released after a declaration made by Ecobank’s Chairman...

Congolese business mogul Moise Katumbi was condemned to a 3-year prison sentence for his involvement in a case of property spoliation, in Lubumbashi. Due to this judgment, President Kabila’s main rival, is no more eligible to take part in the coming presidential elections. Accused and prosecuted for prejudice to State security and recruiting American mercenaries, Mr. Katumbi has finally been...