Today, June 23, the board of the International Finance Corporation will meet to evaluate a $67 million loan which it intends to grant Nigerian lender United Bank for Africa (UBA). The 5-year loan facility will be provided to the five subsidiaries of the bank, to boost lending to small and medium enterprises. Concerned subsidiaries are those of Cameroon, Ghana, Liberia, Senegal and Cameroon....

On June 15 and 16, the US’ justice sector support programme in Cote d’Ivoire, ProJustice-USAID, organized a training session on land legislation for Ivorian lawyers. The session was themed “Land rights in Cote d’Ivoire: Accessibility and related litigations”. On the occasion, topics covered included rights to urban and rural land, costs required to acquire State domains, litigations...

In Nigeria, the Lagos state government has signed an agreement with investors to generate 3,000 megawatts of electricity over the next seven years. The agreement tagged “Lagos State Embedded Power Programme”, involves the supply of 3000MW of electricity at the cost of $3billion. This is however subject to approval by the Nigerian Electricity Regulatory Commission (NERC). According...

Loading plans for August have showed that Nigeria will export 2.02 million barrels of oil per day (bopd), the highest volume exported since March 2016. This is as the country’s oil industry is getting close to recovering fully from militant attacks which weakened production in 2016. According to the preliminary loading plans which was compiled by Reuters, 1.84 million bpd was initially...

A Nigerian High court on Wednesday ruled against a government-ordered mass eviction practice which has left over 30,000 Nigerians homeless in Lagos. Deeming the practice unconstitutional, the judge of the High Court, Adeniyi Onigbanjo, ordered the state government to halt further evictions to prevent an estimated 270,000 other residents in the state from losing their homes to...

ASX-listed Kasbah Resources said it would raise $5.2 million to advance its Achmmach tin project in Morocco. The funds which will be raised through a rights issue, will be used to complete technical works on the site and commence work required as part of the project construction financing. Ongoing technical works at Achmmach were initiated after the successful conducting of an independent...

Portuguese firm Efacec has won the international public tender launched by the public company Eletricidade e Águas da Guinée-Bissau (EAGB), to double Bissau’s installed electrical capacity. Under the terms of the €10 million agreement signed for the project, Efafec is to develop it in two stages. First, the firm will build in the Bor and Bra regions, two substations, with a 30kV by...

IFC, a member of the World Bank Group, and Proparco, a subsidiary of Agence Française de Développement (AFD) devoted to private sector financing, are investing €100 million and €35 million, respectively, in the first green bond issuance by Banque Centrale Populaire (BCP), to promote sustainable, environment friendly projects in the country. This is the first green bond issuance...

The road network leading to the San Pedro port, Cote d’Ivoire’s second largest port after Abidjan’s and main point from which cocoa is exported, is back online, Reuters reported citing sources from the cabinet of Prime Minister Amadou Gon Coulibaly. The roads reopen after a week-long closure caused by heavy rains that damaged the main axis connecting the Soubre region in the West, at the...

Niger plans to raise FCFA40 billion on the WAEMU’s financial market, by issuing fungible treasury bonds next June 28. This was reported by the WAMU-securities agency which is based in Dakar, Senegal. Each security has a nominal value of FCFA10000 and a single interest rate of 6%. The operation will be carried out over five years, closing on June 29, 2022. Under its terms, the bonds will be...