Comforted by performances achieved this year, the Angolan government is seeking to reach zero deficit for the budget in 2020, the Budget Secretary, Aia-Eza da Silva (pictured), said on Tuesday.In an address to Parliament this week, President Joao Lourenço said that the 2019 budget “is currently in surplus, enabling less use of public debt.” He said the oil sector is expected to grow by 1.5%...

The Ivorian government is considering the resumption of collaboration with its neighboring countries to combat illegal gold mining, the Mining Minister, Jean-Claude Kouassi, said last week. He said the government wants “to offer new opportunities and new perspectives to the small mine sector.” Sharing experiences with neighboring nations in the fight against illegal gold mining would back...

Corruption under the presidency term of Jacob Zuma cost about 10% of South Africa’s Gross Domestic Product, current President Cyril Ramaphosa (pictured) said during the FT Africa Summit 2019 in London. The Head of State said during the ten years Zuma ran South Africa, the rainbow nation lost about R500 billion, or about $33.3 billion. “It was much bigger than I think most people could...

Egypt’s Financial Regulatory Authority approved the reduction of trading fees on the country’s stock market. Fees to be cut include share transactions, insurance costs, and bond transactions.The North African nation needs to maintain a number of foreign investors who target either equities or bonds. These contribute to maintaining foreign exchange reserves at a specific level which is...

More than 30 U.S pension fund managers, private sector CEOs and institutional investors have signaled their strong interest in participating in the second Africa Investment Forum, scheduled to take place from 11-13 November 2019, in Johannesburg, South Africa.The Africa Investment Forum is an innovative investment marketplace spearheaded by the African Development Bank to attract capital for...

India is giving Sierra Leone $30 million to boost rice production, Venkaiah Naidu, the Indian Vice President, said after a meeting with the beneficiary country’s President, Julius Maada Bio. The money will be pumped into the rice development project ongoing in Tomabom, according to daily Sierra Leone Telegraph. This project needs a total of $500 and aims to develop 110,000 ha of rice...

The International Monetary Fund says Mauritania’s economic growth should reach 6.9% this year, more than double the 3% last year. The announcement follows a mission to the country from September 25 and October 9. Welcoming the economic reforms implemented by the authorities, the institution states that this growth should be driven by both the extractive and non-extractive sectors....

The government of Ethiopia announced the soon launching of the construction of satellite manufacturing, assembly, integration and testing (MAIT) facilities in Addis Ababa, as part of the second phase of its space development program. The project, which has been entrusted to the French space company ArianeGroup, is expected to start in January 2020 with a completion deadline of 30 months. Money...

Guillaume Soro is running for the next year’s presidential elections in Côte d’Ivoire, the man himself announced October 12 in Valencia, Spain, during a meeting with his supporters.“There are some pro-Soro parties that have chosen me as their candidate. So yes, I’m going to be a candidate,” the ex-rebel and former Prime Minister said.Last July, the National Assembly adopted a new law...

South African Airways may soon attract new private partners for its restructuring plan, the country’s President Cyril Ramaphosa said on October 14, speaking at the Financial Times Africa Summit, in London.“We have put on record we are open to the participation of the private sector. We are talking to a few interested parties when it comes to SAA, for instance,” he said. The President...