Today September 12, 2018, Kore Potash operating Kola mine in Congo announces that Congo’s government has authorized them to transship potash and dispose of brine waste in a dedicated offshore area.    This new permits covering its three deposits namely Kola, Dougou and the Dougou extension projects is one of the prerequisites for the construction of the offshore infrastructure. It is...

Envol Immobilier, the Senegalese company has won the contract for the construction of San Pedro university in Côte d’Ivoire. With an estimated cost of CFA95 billion (about $167 million), the university "will host 20,000 students in fields like naval construction, agriculture, and tourism”.  According to Albert Toikeusse Mabri, Côte d’Ivoire’s minister of higher education and...

Mauritius’ economy could grow to 4% in 2019 thanks to investments in the infrastructure sector, according to Pierre-Guy Noël, MCB group’s managing director. According to the official’s statement reported by Bloomberg, apart from infrastructures, housing and the construction sector should also contribute to this growth. Mauritius dedicated $453 million for the construction of 3,000...

Five African countries (apart from Mali earlier this year) will issue sukuk (Islamic bonds) in H2, 2018, Ecofin Agency learned from a report published by Moody’s.   These are namely Kenya, Morocco, Ghana, Tunisia, and Algeria. These issuances are aimed at mobilizing alternative resources to fund some infrastructure projects. Moody's estimates that despite a decrease in bond issuances in...

Between Q1 and Q2, 2019 Senegal will issue licenses for 10 oil blocks (one onshore block included), Mamadou Faye (photo), the public oil company Petrosen's managing director informed last week. These licenses should certainly be won by large groups. Indeed, a few months ago, the government said that the aim of those license deliverance is to attract large groups. This was, by the way, the...

In a release published September 7, 2018, the African Export-Import Bank (Afreximbank) announced that it has been granted a $500 million loan by China Development Bank (CDB). This loan should fund infrastructures facilitating trade in Africa and various projects in the energy, telecommunication, transport, and agriculture sectors. The loan agreement was signed during the Forum on...

In H1, 2018, DR Congo generated $864.61 million from its mining sector, an amount double the volume generated a year earlier, Reuters revealed quoting a release by the country’s finance minister. During the period under review, revenues from the oil sector dropped by 1/3 to stand at $67.75 million. These new figures confirm the trend announced at the end of Q1, 2018 when mining...

In South Africa, the price of arable lands dropped by 32% since December 2017 when the ruling party adopted a resolution authorizing white-men-owned lands’ expropriation without compensation and their redistribution to the poor and black majority. In July 2018, the average price per hectare was R9,318 ($613) while in December 2017, it was R13,700, Johann Bornman, president of Agri Development...

On September 8, 2018, the French pharmaceutical company Ipsen announced that it would build an anti-cancer drugs manufacturing plant in Algeria in collaboration with a local group, Isly Holding. The plant, a 300-m2 construction located in the technological pole at Sidi Abdellah will require a €20 million investment. “The land parcel plan for the future oncology medicine manufacturing...

Swiver, a Tunisian cloud accounting service provider, raised about TND500,000 from Compagnie d’Assurance et de Réassurance Tuniso-Européenne (Carte). These funds will help the company extend its services to other countries in Africa. “These funds will strengthen our business capabilities. We will offer new online services, like monthly tax returns, to our clients. Our company is planning...