Senegalese government will invest CFA50 billion in the 2018-19 agricultural season, up CFA10 billion from the amount previously announced. This was revealed by president Macky Sall at the end of the ministers’ council last May 9. The higher support should help keep the sector dynamic and strengthen its contribution to the economy. In regards to last season’s balance sheet, many crops...

The Gambian government put up for sale a fleet of three planes and many luxury cars, including Rolls-Royces owned by former President Yahya Jammeh. Finance Minister Amadou Sanneh (photo), told Reuters today May 11, adding that the money generated will be used to repay part of the country’s huge debt contracted under Yahya’s regime. Indeed, these planes and cars were reportedly purchased with...

World Bank will grant Mozambique $150 million to finance the national program of road network improvement, a statement issued last May 8 by the institution indicated. According to the document relayed byMacauhub, this amount which will be granted as a donation, should enable the implementation of many projects under the country’s integrated road development program. This mainly includes...

Ethiopian government suspends the mining license of Midroc Gold Mines, a company which has been operating on the Lega Dembi project (4.5 tons of gold/year) in Oromia region for two years now. This was reported yesterday May 10 by Reuters which quoted a senior government official. The decision follows weeks of protests by populations who accuse the company of water and air...

South African wine output is set to drop by 15% to 9.48 million hectoliters this year. This situation is due to drought that has been hitting the Western Cape, Bloomberg reports. According to VinPro (an association of 2,500 wine producers), although this drop in production could raise wine price by 8-11% on the domestic market, the warm temperatures would help boost wine quality....

On 9 May 2018, the Ivorian Council of Ministers approved a CFA27.4 billion loan agreement granted by the International Development Association (IDA). The amount will be used to finance the rural land tenure national program, Agence Ivoirienne de Presse (AIP) reports. “This highly anticipated project strengthens institutional capacity required to support and implement the national program...

Randgold Resources rescinded the joint venture agreement clinched with Cradle Arc on Kossanto West gold project in Mali. The information was unveiled yesterday May 9 by Cradle Arc. By withdrawing, Randgold transfers its 65% interest in the project to Cradle Arc which now becomes the only shareholder. “Randgold has been an excellent JV partner to Cradle Arc over the past two years and...

Rwandan capital Kigali will host the 8th edition of the African Green Revolution Forum (AGRF) next September 3 to 7. This event will focus on ways to achieve development targets, taking full advantage of small-scale agriculture and agribusiness. It will gather nearly 2,000 delegations including financial institutions, civil society leaders, businesses and administrators. For the record, during...

In Burkina Faso, cotton producers expect to achieve a record production of 836, 000 tons at the end of the 2018-19 season. With this step the country hopes to reposition itself as the African leading cotton producer after being overrun by Mali this season. “We can’t let it go this way. We refuse to be fall to the second place,” Tahirou Fofana, a producer, told RFI. In this...

Angolan national airline TAAG, seeks a $ 952 million recapitalization from the government to repay part of its debt, the company’s Board chairman José Kuvindua said last May8. According to his comments relayed by Macauhub, the outstanding debt amounts to $ 1.063 billion. Furthermore, in order to enable the company to continue operation and facilitate its expansion program,...