The Ivorian president Alassane Ouattara announced that his country will increase its investment in the African Export Import Bank (Afreximbank) by activating its subscription rights to new shares issued within the capital increase operation currently undertaken, we learned from a communiqué released by the institution. One should remember that in September 2014, the shareholders of Afreximbank,...

The Algerian government adopted two decrees on contracts for the research and exploitation of hydrocarbons in this country with enormous potentials of conventional and non-conventional hydrocarbons, reports APS. Measures were taken during the Cabinet meeting on 22 July, presided over by the head of state Abdelaziz Bouteflika. The first text gives approval to twenty contracts for Research and the...

On 17 July 2015, a team of experts went to the dam project construction site in Lom Pangar, Eastern-Cameroon. The purpose of this visit was to evaluate how much progress has been done on the project and if the results were satisfactory. The group sent by Lenders, once more expressed its satisfaction with the advancement in work, much more since it has now been estimated to have reached an...

Victoria Oil & Gas Plc (VOG), full owner of Gaz du Cameroon, ended its 2Q in 2015 last 30 June with an average daily production of 12.6mmscf/d, which equals to a 178% increase in gas production compared to the Q1. During Q2 the company received $9.8m (around FCfa4.9 billion) cash for 1, 120.09 mmscf and 13,445.1 bbls gas and condensate sold respectively, compared to 404.51 mmscf and...

The Radio Télévision Africaine (RTA) will be officially launched during autumn 2015. Eugénie Diecky, famous presenter of numerous radio programs on Africa N°1, is the developer of this Pan African television channel which will at first broadcast its programs on Internet before being available on satellite bundles. Program clips are already available online. Eugénie Diecky is confident...

In Morocco, the 2014/2015 cereal season had a good final surprise in store for analysts who were already expecting a record level estimated at 110 million quintals. However the kingdom managed to produce 115 million quintals (qx), about 5% lower than the initial forecasts. The major part of the production was concentrated in the basins of Doukkala, Chaouia and El Haouz which generated between...

Masen (the Moroccan solar energy agency), CEA (French Atomic Energy and Alternative Energy Commission) and the French group Alcen are now committed to the development of solar energy in the kingdom. By means of a group of agreements, these companies will develop R&D and finance innovative projects. First actions of this plan, Masen acquired half of the capital of the company Alsolen...

The Cameroonian Minister of Agriculture and Rural Development, Essimi Menyé, officially launched the fruit tree growing development Project, on 28 July 2015 in the capital Yaoundé. This project, we are told, requires total financing of FCfa 178.5 billion, of which a part will be provided by the FAO during the pilot phase, while the government will raise the bulk of the funds. According to the...

The international institution ABREC (African Biofuel Renewable Energy Company) officially launched on 22 July 2015 in Lomé an equity crowdfunding platform, www.abrec.financeutile.com, in partnership with Finance Utile, a pioneering French platform in equity crowdfunding. The new platform will be dedicated to the financing of projects and SMEs which operate in sub-Saharan Africa in the renewable...

IFC, a member of the World Bank Group, announced in a communiqué that it has granted financing to help expand a leading private hospital in Ndjamena. This investment of €1.23 million, a first of its kind, will be used to construct and equip a new hospital with a 56-bed capacity in Ndjamena, by the Clinic La Providence, currently renting a building with a capacity of 26 beds. The new...