Today September 05, 2018, Nevsun Resources which owns shares in Bisha zinc and copper mine in Eritrea, announces that it struck a deal with Zijin Mining. Under that agreement, the Chinese mining company Zijin Mining, will buy Nevsun Resources’ outstanding shares at CAD6 each. The overall amount of this transaction is estimated at CAD1.86 billion ($1.41 billion). The offer submitted by...

The latest tax imposed on the South African Group MTN in Nigeria fuels beliefs that the telecommunications operator is purposefully targeted. This belief shared by part of the South African public has, by the way, led to isolated acts of xenophobia against Nigerians living there, local media sources reveal. In the last two years, the telecommunications operator has been required to pay more...

Start Network, a global network of forty national and international humanitarian organizations, announces that it will set an insurance policy to cover drought-related risks in Senegal. Based on indicators such as rainfall, Start Network will warn of the occurrence of natural disasters to allow early responses which will mitigate the damages. Thanks to this mechanism, humanitarian organizations...

Mohab Mamish, president of Suez Canal Authority, signed three agreements with Chinese companies specialized in non-woven and modern materials, textile and drywall during the China-Africa forum in Beijing, China.   The first agreement was signed with Shandong Ruyi Spinning & Weaving Co., which is planning to invest $830 million to create a textile industrial zone and 10,000 jobs....

 On September 3, 2018, Congo’s constitutional court approved the invalidation of Jean-Pierre Bemba’s (photo) candidacy by the Independent National Electoral Commission. This commission rejected his candidacy because of his indictment by the International Criminal Court in March 2018 for paying bribes to some witnesses.   Acquitted in June 2018 by the International Criminal Court,...

Egypt ordered 32 air-conditioned trains from South Korea, Egypt’s minister of investment and international cooperation Sahar Nasr (photo) informed. These new trains valued at €243 million will be used at subway stations built in Cairo in the framework of phase 3 and 4 of the subway extension project. The Korean company Hyundai Rotem has been chosen to construct and deliver the trains...

Tunisia and the International Monetary fund reached a preliminary agreement on the terms of the fourth review in the framework of the Extended Fund Facility. According to a release published by the Bretton Woods institution, “the Tunisian authorities emphasized their intention to continue to act decisively to contain the budget deficit”. With this stated intention, IMF’s administrative...

Today September 3, 2018, in Beijing, in his opening speech during the Forum on China-Africa Cooperation (FOCAC), Xi Jinping (photo), China’s president announced that his country would provide $60 billion to Africa. The president explained that these funds will be granted as government aids and investments via financial institutions and companies. He also announced some measures aimed at...

Passed during a ministerial council, the new draft bill on electronic communications which is about to be voted by the national assembly is not accepted by Senegal consumers organizations. Indeed, according to sixteen of those organizations, who expressed themselves during a press conference, article 27 of this law introduces the restriction of mobile telecommunications applications.   This...

Last week, Libya’s daily oil production surged to reach one million barrels, Libya Observer reveals. This is the highest level reached by the local oil industry this year and, it is due to the relaunch of extractions at Sharara (the main oil field where 300,000 barrels are extracted daily), Amal and As-Sarah. Let’s note that since February 2018, violence escalated between armed groups in the...