ASX-listed Australian miner, Metals of Africa, will raise $AU 4.5 million ($3.3 million) to advance its graphite projects in Mozambique, mainly to finance feasibility studies, bulk sampling and metallurgic tests. The firm on Friday May 6, 2016, declared that a first part of total of $4 million will be raised through the placement of 72.7 million of shares, at 5.5 cents per share, to...

On May 15, 2016, Egypt’s National Telecom Regulatory Authority (NTRA) will launch process to award 4G mobile licences, Minister of Telecommunication and Information Technology, Yasser Al Qady, said on May 4, 2016, at a press conference. During a council meeting he held on the same day, he added that the decision was taken by the government. Egyptians have been waiting for 4G since 2014....

In Egypt, investment bank EFG wishes to invest in solar and wind projects totaling a capacity of about 500 MW. The operation falls under the group’s mid-term strategy to increase its portfolio of renewable energies assets to 1 GW, by 2018. Bakr Abdel-Wahab, EFG’s CEO told Reuters that the bank plans to bring up the value of its renewable energy assets from €730 million, where it is...

Between 2007 and 2015, Mauritius attracted most millionaires, a recent report from New World Wealth reveals. The number of millionaires residing in the country, outside main residence, soared by 160% over the nine past years, the report entitled “The Africa 2016 Wealth” Report stated. The significant growth is mainly due to Mauritius characteristics in terms of economic performances, tax...

In Morocco, Diana Holding has entered the sea products market. The group which up till now was investing in sectors such as agriculture, husbandry or soft drinks, now takes control of Atlantic Sardines Anchovies Tantan (Asat), a subsidiary of El Jabri. According to the agreement whose amount was not disclosed, Diana Holding will invest in the construction of a sardine-mackerel manufacturing...

Atlas Mara is about to overtake a new bank in Africa, co-founder of the African banking focused investment holding, announced on May 7, 2016. “The targeted bank operates in one of the seven African countries where Atlas Mara has a branch,” said Barclays’ former chief executive at an African summit organized by the London Business School. However, he declined to reveal if the bank...

Cote d’Ivoire is considering the sale of its minority stake (49%) in local subsidiary of French group Orange, on the Bourse Regionale des Valeurs Mobilieres of Abidjan, Bloomberg said citing government’s spokesperson, Bruno Koné (picture). It’s something that’s being considered, said Koné adding that government was not in a hurry and would wait for the right time to proceed. Since the...

Things seem to be looking brighter for Zambia on the macroeconomic plan. Pressure on the country’s exchange reserves decreased and its public debt is more bearable. This is what show various indicators analyzed by IMF in its global outlook, updated last month. Behind this improvement is the hike in price of copper, which allowed the kwacha (local currency) to strengthen to dollar, thus...

Burkina just released its targets for the 2016-2017 grain season. APA has in fact announced that the country plans to produce 4.7 million tons up 12% compared to the previous season. To achieve this, the government says it will focus on supporting farmers, hydro-agricultural development of arable lands and provision of fertilizers. More specifically, 24,500 hectares, half fo which are lowlands,...

Sonangol has granted Engineers India Limited (EIL) a contract to provide services related to the construction of the Lobito refinery in Angola. Under the contract, EIL will provide the Angolan state-owned oil company with Front End Engineering Design Revalidation, Licensor Selection and Basic Design and Engineering Package Review at an undisclosed value. The Lobito refinery is expected to come...