Due to ecosystem degradation, Africa loses $68 billion annually, a report from the United Nations Environment Programme (UNEP), quoted by Sahel Intelligence informs. According to figures published during the seventh extraordinary session of the African Ministerial Conference on the Environment, ongoing from 17-21 September in Nairobi (Kenya), these environmental problems also affect the...

AXA Assurance Maroc SA acquired stakes in Dabadoc, a Moroccan startup that helps find nearby doctors and arranges meetings online. Dabadoc, launched in 2014 thanks to a MAD5 million investment, will use the new funds to develop its presence in North Africa, namely Morocco, Algeria and Tunisia where it is already well established.   Dabadoc, which helps health professionals communicate with...

Last weekend, Cradle Arc announced that its PL33/2005 and PL180/2008 prospecting permits in Botswana have been renewed for two years. This renewal follows a request submitted in January 2018 to the minister of minerals, energy and water resources. The company indicates that provided funding is available, it will carry on with the geophysical surveys realized by the former operators of one of the...

Last Saturday, Egypt’s oil minister Tarek al-Moulla informed in a release that oil and gas exploration agreements had been signed by Shell and Petronas. According to the terms of the agreement, the two companies would invest $1 billion to dig eight oil wells in the Nile Delta. This agreement strengthens the presence of the two companies, especially Shell’s which confirms its prominent...

Blue Garnet Ventures, an investment company that invests in African companies specialized in financial technologies acquired 10% stake in Atura, a subsidiary of the South African firm New Media Labs Ltd. Paul Cartmel, Atura’s CEO, did not reveal the amount of this investment in order not to “create confusion with some potential investors offering better terms”. Atura which develops...

China would grant $11 billion to Angola, Macauhub indicated last week quoting Africa Monitor. According to the media, the fund would be provided as a credit line that would help Angola fund 78 development projects in the infrastructure sector notably. The new agreement concluded by the two countries outside the FOCAC, should be signed during Angola’s president Joao Lourenço’s visit to...

Tunisia plans to issue $1 billion Eurobonds at the beginning of October 2018 to reduce the 2018 fiscal deficit, Reuters reported on September 14, quoting official sources. “We will issue $1 billion Eurobonds at the beginning of October [2018] after the IMF has disbursed another installment of its loan to Tunisia”, the sources explained. Tunisia whose economy was affected...

Every payment above EGP100,000 (about $5,500) to government institutions should be done electronically from January 2019, Egypt’s finance minister announced last September 15.   According to the country’s authorities, this decision is part of the government’s plan to achieve financial inclusion and migrate towards a cashless society. Any citizen who will use cash for transactions...

This week, the TSXV-listed company Tango Mining, announced that it concluded an agreement with Cooperativa Mineira Do Moquita to take care of exploitation and commercialization of Moquita diamond mine in Angola. The 147-km2 mine is located in Lunda Norte at about 50 kilometers from Camútuè kimberlite deposit. According to the terms of the agreement, Tango mining will take care of the...

CI Capital, Egypt’s leading provider of investment banking, is planning to increase the volume of its portfolio under management to LE10 billion ($558.2 million) by March 2019.  "We are looking to stimulate and boost our assets under management by initiating a series of negotiations with some local and foreign investors so as to manage their portfolio”, Amr Abol-Enein, CI Capital’s...