The Ivorian government is about to sell its 23% stake in Sucrivoire in an initial public offering, which should get it a plus-value of 9.016 billion CFA francs, sources close to the operation said. The executive will finally dispose of 1.127 million shares, instead of 563,500 shares announced previously, each to be sold at 13,000 CFA francs. At the extraordinary general assembly held last April...

Nigerian power developer Egbin Power plans to build in Tanzania, two gas-fired power plants with a total capacity of 900 MW. “We plan to set-up two plants, each generating 450 MW....all we are awaiting now are the government approval and Tanesco's (Tanzania Electric Supply Company) proposal,” the firm’s CEO, Dallas Peavey said. Details regarding the project’s specifications and exact...

Simplice Anoh, Founder and CEO of leading mobile solutions provider, Digital Afrique Telecom (DAT) shared these insights on digital connectivity in Africa and the region’s growth, at the Africa Tech Summit in London on September 29. He joined technology leaders from across Africa and Europe, international investors, entrepreneurs and leading African start-ups in London for the one- day...

World Trade Organization (WTO) announced on September 27, that global trade should grow by only 1.7% in 2016 slashing its 2.8% forecast in April 2016. The organization added that this would be the lowest level of growth recorded since the global financial crisis. It results from a sharp fall in merchandise trade volumes during the first quarter of the year (-1.1% quarter-on-quarter, as measured...

International Monetary Fund (IMF) has approved a $116 million loan to Ghana, to help it revive its economy and support balance payments. The loan is part of a $1 billion bailout plan agreed between Accra and the Washington-based institution in 2015. With this new credit line, IMF would have disbursed a total of $465 million out of the billion planned by the bailout plan, the...

It is now possible to access Facebook in fulfulde, another African dialect. This is the sixth African dialect to be integrated on Facebook after somali, kiswahili, afrikeens, kinyarwanda and hausa. The global social network just announced the news about the fulfulde, also called pular or peul. This language is used by about 60 million people in 20 nations across West and Central Africa, and by...

Tomorrow will be the first day of the new cocoa season in Cote d’Ivoire. Proceeding to a general review of the sector, authorities said output in 2015/16 slumped by 12.52% from 2014/15’s record output of 1.79 million metric tons of cocoa, to 1.56 million Mt. However, the Chairman of the Ivorian cocoa-coffee council, Lambert Kouassi Konan, said farmers don’t have much to complain about...

Eni's Chief Executive Officer, Claudio Descalzi (photo), has on Friday revealed that the dismissal of Mozambique's energy minister will not affect the Coral offshore gas development’s final investment decision (FID). This follows Thursday’s report that the President of Mozambique, Filipe Nyusi has dismissed Mineral Resources and Energy Minister, Pedro Couto, a month before Eni is due to...

Moroccan Agency for sustainable energy (MASEN) is officially in charge of Morocco’s renewable energy programme which aims to develop 6,000 MW of renewable energy plants across the kingdom, by 2030. The act that expanded the institution’s responsibilities and renamed it from Moroccan Agency for Solar Energy was passed last September 22. MASEN will thus develop (designing, financing,...

In Madagascar, refusing to move from their homes, the people of Soamahamanina are preventing mining firm Jiuxing Mines from developing gold, zinc, iron, lead and beryllium projects it has there. To oppose the Chinese firm, locals formed VONA, an association that “defends their land, homes, livelihoods, the graves of their people, their natural resources, and preserve the church and school that...