Afriland First Bank, bank group with predominantly Cameroonian-held shares, will soon buy into the capital of the African Export-Import Bank (Afreximbank), headquartered in Cairo, Egypt. The information was disclosed by Paul Kammogne Fokam, the founder of the 2nd banking group in Central Africa, behind BGFI. “For this purpose, one of the African branches of the group will be appointed to act as...

Competing telecom operators Mauritius Telecom and Telma are in a race for the acquisition of the second telecommunications services operating licence in the Comoros. The two companies, in addition to Shyam Telecom and Vihaan Networks, represented by the Tanzanian Quality Group, are part of the four companies being considered for this operation. By the coming month of September, the winner of this...

The Court of Justice of the Economic Community of West African States (ECOWAS) invalidated, on 13 July, the new election code of Burkina Faso, which prevents followers of the deposed president Blaise Compaoré from standing as candidates in the presidential elections in October. The court considered that the provisions of this electoral code are a violation of the right to freely partake in the...

In Morocco, the production of white sugar has increased by 32% and is now at 480,000 metric tons, indicates La Vie Eco. Thanks to this progress, the kingdom will provide 40% of its sugar needs against the usual 29% this year. The performance was promoted by the increase of 48% in areas dedicated to the cultivation of beetroot whose production has also risen by 45%. Though the results of the...

The French group Sucres & Denrées Côte d’Ivoire (Sucden CI) has just been granted a financing of €100 million by the African Bank of Development (AfDB). This amount, loaned within the framework of the Soft Commodity Finance Facility, will be used to pre-finance the cocoa season, indicated the institution. According to AfDB, the loan which has a two-year maturity will allow Sucden...

The production of sorghum in the regions of Extrême-Nord and Nord in Cameroon, the two basins of production of this cereal in the country, should reach 2 million metric tons by 2020, according to the forecasts of the ministry of Agriculture and the Project of Investment and Development of Agriculture Markets (PIDMA). Thanks to the funding provided to the producers within the scope of the PIDMA,...

As soon as the authorities decided to subsidise solar boilers for €125 to €250 per household, depending on the income (which represents about a quarter to half of the average price), Mauritians started running to grab the opportunity. In two days, over 20,000 people have streamed to the counters of the Development Bank of Mauritius to file their claims and be granted the precious...

Algeria wants to revitalise its economic cooperation with Cameroon, by organising between March and April 2016 in Douala, Algeria Days, we learned on 10 July 2015 during the audience given by the governor of the Region du Littoral to Merzak Bedjaoui, Algerian ambassador in Cameroon. According to the Algerian diplomat, Cameroon has “a lot to win from the Algerian expertise in the water, energy,...

In Tunisia, the production of tomato paste is set to reach a record level of 175,000 metric tons this year. A performance which is to be attributed to the increase in areas dedicated to the cultivation of this fruit which went from 18,000 metric tons to 20,000 metric tons this year, as well as the upwards revision of the tomato price. Indeed, with a reference price of 147 millimes/kilogram,...

According to the economic forecasts of the IMF, Côte d’Ivoire will register a growth of 7.7% in 2015 in GDP, to reach in the local currency FCFA 18,400 billion. In 2014, the growth of this economic indicator, which had reached FCFA 16,800 billion, was 7.4% However, one aspect of the GDP which is not often noticed by the public authorities is the US dollars performance of the GDP. This is...