Today, September 24, 2018, Barrick Gold and Randgold Resources announced they had reached an $18.3 billion merger agreement. The two companies with operations in Africa recommend their shareholders to approve the transaction, which should be concluded in Q1, 2019. According to the terms of the agreement, each of Randgold’s shareholders will receive 6.1280 shares in Barrick Group, the new...

World Bank will provide $60 million to help finance Guinea’s 2018 budget, a release published last week by the country’s economy and finance ministry reveals. According to the release, this budget support is subsequent to the reforms initiated by Guinea to improve its economic and financial health. Aimed at facilitating the country’s economic and social development plan, the fund...

On October 2-6, The Walt Disney Company and UniFrance, an institution that promotes French cinema around the world, will organize the first edition of Festival Afrique Junior in Côte d’Ivoire. During this event, French and American animated films will be freely shown at Majestic cinema and the French Institute in Côte d’Ivoire. Aya de Yopougon, the animation film co-written by...

Financial institutions in the Democratic Republic of Congo are seeking to bring millions of Congolese to the financial circuit, but the challenge seems to be more difficult because of the precarious economic and financial situation. With a total population estimated at 90 million inhabitants, the rate of banking is currently recorded only at 6% of the active population. Several factors are...

Reuters just extended its video offers aimed at Africans by launching Africa Journal, a video report that summarizes all the news Reuters publishes each day about Africa. Serena Chaudhry, Africa Journal’s editor-in-chief explained that Africa Journal has provided Reuters a new way to report African news on the continent and even outside.  “The growth of digital audience in Africa has...

This week,  GoviEx Uranium announced that it appointed  SRK Consulting and SGS Bateman for feasibility studies of Madouela uranium mine in Niger. The two consulting firms, much experienced in the uranium sector and in Africa, were part of the team that conducted the pre-feasibility studies for the environmental permit at Madaouela. “We are excited to commence this next stage in the...

Golden Rim Resources announces that today 21 September 2018, it completed a $3.392 million capital raising to develop Kouri gold mine in Burkina Faso. The amount was collected thanks to placement that generated about $3 million and a share purchase plan that helped collect $392,000. The group indicates in a statement that it plans to use most of the funds to finance works at ...

South Africa will reallocate $3.5 billion of its expenditure budget to stimulate economic activities, Cyril Ramaphosa (photo), the country’s head of state announces today. According to the official’s statements, reported by Bloomberg, this reallocation is part of the reforms initiated by the country to redefine its priorities, boost economic growth and reduce the unemployment rate. The...

On September 19, 2018, Zambia’s president Edgar Lungu sacked the minister of community development following embezzlement charges (embezzlement which led some western partners to halt their bilateral aids to that country).   “His Excellency, President Edgar Lungu has acted swiftly, relieving the Honorable E. Kabanshi (photo) as minister of community development following the misuse of...

In 2019, Algeria will reduce its expenditures to rebalance public finances, the government indicated in a document, according to Reuters. According to information provided by the news agency, this decision falls within the framework of the reforms initiated since 2016 by Algeria to address the fall in oil prices. After a 9% cut in 2016 and 14% in 2017, the country increased its 2018 expenditure...