The European Union (EU) will provide Tunisia €300 million of financial aid every year starting from 2017, till 2020, Federica Mogherini, High representative of EU in charge of foreign affairs and security policy, revealed on November 1. Mrs. Mogherini made the announcement in Tunis as he was meeting Tunisia’s minister of foreign afffairs, Khemaies Jhinaoui. More than five years after...

Algeria has released its first locally made Hyundai car on October 29, three days ahead of initial schedule, announced Tahkout Manufacturing Company, a joint venture of Algerian firm Tahkout and South Korean car maker Hyundai. Produced at the Tiaret factory (located about 300km west of Algiers), the SUV Hyundai Tucson will be sold with a five year guarantee and at a cost 30-35% less than models...

The African Development Bank (AfDB) has announced in a statement released on Nov 2 that it has granted Tunisia a €180 million loan to regional disparities. The loan which is part of the Programme d’appui au développement regional inclusive (PADRI) will help stimulate regional development in the 16 major governorates by promoting investment, social inclusion and local governance. PADRI...

On November 3, 2016, Siaka Minayaha Coulibaly, Director of Cabinet of Ivorian Minister of Agriculture and Rural Development, has revealed at the Africa Agri Forum the functions of the coming Rural Land Agency (AFOR) recently announced by President Ouattara after the referendum campaign that just ended in Cote d’Ivoire. Expected to be operational in January 2017, the agency should help...

The members of the Union des Associations et Coordination d’Associations pour le Développement, la Défense des Droits des Démunis (UACDDDD) at a press conference held last Sunday strongly reaffirmed their determination to countering “land predators”. The Malian civic society organization has in sight three main issues it wants to tackle: first is the announced demolition of Bamako’s...

In its report on the economic outlook for the sub-Saharan region updated in October 2016, the International Monetary Fund (IMF) said Cote d’Ivoire, except a last minute turn of event, would record the highest growth rate in the region between 2016 and 2018. The West African nation should thus fare better than Ethiopia, Rwanda, Tanzania and Senegal over the period considered. According to...

Mining company Teranga Gold plans to proceed to a fundraising for AU$65 million (about $49.9 million) to advance the Banfora gold project which it recently acquired in Burkina Faso. To raise the funds, the firm signed an agreement under which it will issue 62 million shares at AU$1.05 a share. Of this volume, 32.5 million shares will be issued on a bought deal basis through a syndicate of...

Tanzania’s government expects its economy to grow by 7.5% in 2017 and 7.9% in 2018, up from 7.2% in 2016, Minister of Finance and Planning, Philip Mpango, said on November 2. “The macroeconomic objectives of the government are to attain gross domestic product growth (GDP) of 7.5 percent in 2017, followed by 7.9 percent in 2018”, Mpango told parliament. He added that the government...

Singapore’s maritime transport firm Pacific International Lines has commissioned on October 31 a logistics centre it has established in Egypt. Situated in Cairo, at the Al Tajamouat industrial park, the centre which covers 20,000 m² was commissioned as Singapore’s President, Tony Tan Keng, was officially visiting the Egyptian capital. Opening the centre which is equipped with advanced...

The African Development Bank (AfDB) provided Algeria a $1 billion loan to help it deal with deficit caused by slump in oil revenues. The funds will partly be used to support the government’s efforts regarding the mobilization of internal resources, in addition for investments aiming to improve business environment, which is to boost energy efficiency and promote renewable energies to be...