In 2017, all 27 banks operating in Côte d'Ivoire once again improved their capacity to convert mobilized resources into credits granted to the economy. This conversion rate was 83.1% on Dec. 31, 2017, up from the 80% recorded in 2016 and 79% in December 2015.  Moreover, during the period under review, the outstanding deposits increased from CFA8,587 ( in 2016) to CFA9,507....

The next Africa Internet Summit will be held in Dakar, Senegal, from April 29 to May 11, 2018. This event which will gather more than 300 participants especially TIC’s experts from Africa and beyond as well as internet services’ users will focus, among others, on internet management, connected devices’ technology, IP addressing and management of internet domain name system. For the...

Ashanti Gold Corp. announced yesterday April 25, a new 10, 000 m drilling campaign which will begin next month at its gold project Kossanto East (Mali). During this campaign, the company will be drilling 8, 000 m of reverse circulation holes and 2, 000 m of diamond holes. The goal is to provide sufficient information to develop a strong geological interpretation and a mineral...

Airtel Telecommunications (Seychelles) has financed the renovation of the house of Lucy Lista at Petit Paris in the Cascade district to the tune of R450,000. This falls under the company’s corporate social responsibility programme and to mark its 20th anniversary. The renovated house was handed over to Mrs Lista yesterday afternoon following  a month’s renovation works. During...

Niger’s government grants the very first 4G mobile license to CELTEL Niger limited, subsidiary of Indian Bharti which operates under Airtel Niger brand. This was decided last April 23 during a special Council of Ministers. With the draft decree adopted, Celtel Niger will be granted the license “to set and operate fourth generation (4G) mobile telecommunications networks and services, offered...

South African Airways (SAA), would need R5 billion ($400 million) from the government to pay its debts and cover operating costs, the company's CEO, Vuyani Jarana, announced yesterday April 24.  According to the manager, relayed by Reuters, this fund could be part of an open credit line set up by the government. This new capital injection should allow to keep the company afloat and...

In Kenya, macadamia is increasingly attracting coffee producers as, spurred by Chinese demands, the nuts’ price surges on the international market. Bloomberg reported that the farm gate price per kg of unshelled nut rose from KSh70 shillings (in December 2017) to KSh180 and, it could rise to KSh200 by the end of this year. “Farmers are beginning to discover that this is gold. Wherever...

The Chadian government will sell 60% of its stake in CotonTchad Société Nouvelle (CotonTchad SN), cottonseed purchase’s leading company, to the Singaporean Olam International. This sale agreement, signed last April 23, is in line with the company’s partial privatization which will lead to a reduction of support from the State and a rehabilitation of the cotton sector. The...

Legacy USD Bond Fund, a mutual fund managed by the Nigeria-based investment firm First City Asset Management Limited (FCAM), gets listed on the Nigerian Stock Exchange (NSE). It recorded a 244.4% subscription rate for initial public offering and had mobilized $6 million. James Ilori, FCAM’s CEO indicated that this listing of Legacy USD Bond Fund now allows investment in the asset...

ABC Tunisia, a subsidiary of Bahrain-based Bank ABC group, announced the placement of a bond loan worth TND20 million ($ 8.2 million) broken into 200,000 bonds valued at TND100 each. This bond placement will focus on three categories. Category A with an interest rate of 8.20% over a 5-year period, category B with a slightly higher interest rate (8.40%) and a maturity of 7 years while Category C...