Mauritius group CIEL’s consolidated revenues was MUR12.7 billion ($371.297 million) in the second half of 2018 ending on December 31, 2018. This represents a 10% year-on-year rise compared to the MUR11.5 billion ($336.214 million) realized in H2, 2017, the group revealed in a report published on February 18, 2019. During the period under review, the group’s net earnings rose by 34% (YoY) to...

At end December 2018, the quantity of money that circulated Zambia’s economy reached a record high since 2013.  However, during Q4, 2018, it rose by 0.9% only, less than the 13% rise recorded in the third quarter. This quantity of money (monetary mass) is the sum of the notes exchanged by people and companies as well as the deposits in bank accounts. Its increase greatly depends on...

Ethiopia’s yearly car production capacity will soon rise to 10,000 units thanks to the first Hyundai’s East African assembly plant. This assembly plant will not only meet Ethiopia’s market demand but also that of other East African countries amid a growing proportion of used cars in those markets.   Thanks to this new plant that should generate numerous jobs, Ethiopia can reduce...

The Burkinabe government is seeking $100 million, about XOF55 billion, for a humanitarian emergency in response to the current insecurity crisis in the central north, east and north regions of the country. This was announced by the Burkinabe ministry of national solidarity, in collaboration with the United Nations System, during a press conference held Feb.14 in...

During the February 20, 2019, ministerial council, Mali passed a draft decree setting the requirements governing the issuance of licenses to encryption service providers. The draft decree was passed based on the report of the minister of communications and digital economy and it establishes the files to be provided by these providers as well as their contractual duties and the sanctions they...

On February 20, 2019, Mauritania’s president Mohamed Ould Abdel Aziz launched the construction of four portions of optical fibre that will enhance the national backbone. These portions are namely the 431 km “Nouakchott-Atar-Choum”,  the 723 km “Rosso-Boghé-Kaédi-Kaédi-Selibabi-Kiffa”, the 280 km “Aioun-Néma” and the Nouakchott local loop. The works that fall within...

The South African subsidiary of Volkswagen expects a record rise in its production this year, Thomas Schaefer, managing director of Volkswagen South Africa, indicated last Tuesday. The automaker announced that it produced 126,463 cars in its South African subsidiary in 2018. For 2019, it is expected to produce 161,900 cars. In a sluggish economic context, the auto sector (which is the leading...

In Morroco, Five new financing products for SMEs have been announced by Caisse centrale de Garantie (CCG). These offers consist in the provision of finance lease guarantees and loans with various maturity periods. The conditions, as well as the interest rate of each of those solutions, have not been indicated by the Moroccan financial institution. The new products are aimed at supporting...

South Africa has dedicated ZAR3.7 billion ($271 million) to help black farmers willing to buy lands and acquire property rights, Bloomberg indicated citing Tito Mboweni (photo), the country’s finance minister. The minister revealed that in the next three fiscal years, ZAR1.7 billion ($121.5 billion) would be dedicated to 262 key land reform projects. This announcement is made amid...

The $4 billion Eurobond issued by Egypt on February 19, 2019 to fund its budget deficit, was 5X oversubscribed, according to a release published by the finance ministry.   The same source reveals that the subscription to that operation reached $21.5 billion. It also indicated that the issuance was divided into three tranches; a first 5-year $750 million tranche with 6.2%...