Norway approves a financial aid of $3.4 million to supply school canteens in Mali during the ongoing school year. According to the African Press Organization which reveals the news, the money will support about 55,000 students through the school feeding program, managed by the World Food Program in the central city of Mopti. “Norway is supporting school meal programs in several...

Guinea’s mining company Société Guinéenne du Patrimoine Minier (SOGUIPAMI) is developing a program to reinforce the operation of its gold licenses at Siguiri, including soil geochemistry and trenching on identified mineralization.According to initial ground sampling results, the 22 270 permit of Siguiri reveals varying grades between 0.5 and 11,614 parts per billion of gold; with 58%...

Angolan commercial bank Banco de Fomento Angola (BFA) concluded a credit deal of $50 million with African Export-Import Bank (Afreximbank) under the Trade Facilitation Program (AFTRAF).With this agreement, BFA becomes the first Angolan bank to benefit from this facility. The line could also be increased based on demand from the Angolan market to boost BFA’s international...

Verod Capital announced September 18 it has obtained a green light from regulators to get full control of insurer Metropolitan Life Insurance Nigeria. Under this agreement, Verod is acquiring the shares South Africa Momentum Metropolitan Holdings Limited (MMI Holdings) has been holding in Metropolitan Life Insurance’s capital for 12 years.The financial terms of the transaction were not...

Malawi’s economy is expected to grow by 4.5% this year, driven by boosted agricultural production, the International Monetary Fund -IMF- said in a statement this week.The southeastern African country has implemented a recovery strategy which includes the reconstruction of infrastructure after the cyclone Idai, and the resumption of sales of tea, tobacco, and sugarcane which were slowed due to...

The Board of Directors of the Overseas Private Investment Corporation (OPIC), the U.S. private financing arm in developing countries, approved $64 million to support the construction and operation of two hotels in Dakar, the Sheraton Dakar hotel and Aloft Dakar hotel.The project is also expected to strengthen local small businesses involved in the supply chain of both hotels. Since 2019...

Mobile operator MTN Ghana partners with Ericsson Wallet Platform to open an Access Programming Interface (API) that will allow entrepreneurs to develop income-generating apps.With this strategy, MTN wants to introduce new services payable via Mobile Money, and subsequently contribute to further financial inclusion in Ghana. MTN also sees in this strategy an opportunity to expand its services and...

The impact of climate change would probably be worse than expected. This is an outcome of a test, carried out by scientists of the French National Research Center, which will serve as a 2021-22 report by the UN Intergovernmental Panel on Climate Change (IPCC).According to researchers, in the worst-case scenario considered, the global average temperature increase will reach 6.5 to 7°C in 2100,...

Sudan welcomed Monday the French foreign minister, Jean-Yves Le Drian (pictured), a few weeks after the transition government was formed. Following a meeting with authorities, the French official announced his country is pledging $66 million in aid for the country, with an immediate disbursement of $16.5 million.Le Drian said the new funding will help Sudan “go through its peaceful...

Egyptian company Mediterranean and Africa (MEDAF) Investments announced their ambition to enter new African markets, Board member Yasser Agiba reports.“The company is currently evaluating several investment opportunities, the details of which will be announced in due course,” said Hany Abou-El-Fotouh, Head of the Corporate Affairs Division at MEDAF Investments.“MEDAF has recently launched...