Mining firm Sarama Resources completed the first stage of exploration campaign at its South Houndé gold mine, in Burkina Faso. Cost of the campaign was estimated at $3.5 million funded by Acacia Mining. This funding was provided in accordance with an ear-in agreement giving Acacia the right to hold up to 70% of the South Houndé project in exchange for an investment of $15 million....

In 2015, money transfers by African migrants to their region or country of origin surged by 3.4% to $35.2 billion, a report by World Bank and other development partners revealed. This sum, which includes intra-African transfers, represents 6% of total transfers by migrants worldwide to their region or country of origin. Total migrant transfers worldwide, even though down as compared to the...

President of Norwegian firm Sithe Global that recently acquired the Bujagali hydropower dam in Uganda, Brian Kubeck, affirmed that cost of power will not drop as a result of the takeover. The Norwegian firm purchased the infrastructure from Bujagali Energy LDT. “This is just a change in ownership and may not impact on the cost of Bujagali power…Government has where it wants power costs to...

Nowadays, most big European and American firms use big data to boost their efficiency. The significant volume of information collected and analyzed online allows them to develop targeted strategies focused on their respective markets. In Morocco, the idea of proceeding this way to improve efficiency is spreading within local firms. The technology was at the center of the meeting entitled “Big...

In 2015, money transfers by African migrants to their region or country of origin surged by 3.4% to $35.2 billion, a report by World Bank and other development partners revealed. This sum, which includes intra-African transfers, represents 6% of total transfers by migrants worldwide to their region or country of origin. Total migrant transfers worldwide, even though down as compared to the...

There is a possibility that the Senegalese-Mauritanian maritime area will break all records as regards petro-gas finds as Conoco Philips announced in Houston this week, the discovery of another gas off the coast of Sangomar in Senegal, Finance Afrik reports. Sources have said that such a find was not expected by the company as the miracle occurred through carrying sand reserves in good quality...

UBA during the week held a Board Learning Session at The UBA house in Lagos, where all the subsidiary board chairs and CEOs were invited by the group chairman Mr Tony O. Elumelu, to participate in the sessions. Members of the group Board together with the CEOs and Chairpersons of their 18 African subsidiaries converged to discuss ways to best serve customers, as well as the many landmark projects...

On December 31, 2016, UN’s president Ban ki Moon will end his second term at the head of the institution and will not seek a third one. Among the candidates to replace him are Bulgarian Irina Bokova, UNESCO’s director, Helen Clark, UNDP’s director and former President of New-Zealand, and Portuguese Antonio Guterres who headed HCR. Others are also announced for the position. These...

Zimbabwe River Authority (ZRA) announced that rehabilitation of Kariba dam will start in the first quarter of 2017. “Itis anticipated that by the year end, the procurement process will be finalized and project execution for the plunge pool reshaping project will start during the first quarter of 2017,” said ZRA spokesperson Elisabeth Karongo. Cost for the rehabilitation works has been...

In order to expand the “Je parle le Bassa 2” project started in the form of a Facebook page created in December 2013 by young French of Cameroonian origin Stéphie-Rose Nyot Nyot to help people learn the Bassa dialect spoken in Cameroon, a crowdfunding was launched last month. The page gathered some 6,000 Bassa learners two years only after its creation. The crowd-funding extends to May 18,...