Benin and Rwanda will be the two African countries to benefit from the next sustainable development goals program initiated by IMF, Xinhua revealed on April 6, 2018. According to Victor Gaspar, Director of IMF's Fiscal Affairs Department, the Bretton Woods institution could adapt its financing to the targeted countries’ needs (in line with their national and sectoral...

In 2017, the Arab Tunisian Bank (ATB) recorded a net profit of TND214 million ($88 million), up by 12.5% compared to the volume in 2016. This was revealed in a report published by the bank today April 6, 2018. The first private bank in Tunisia also reported an equity growth of 16.4%, to stand at more than TND1 billion (exactly TND1.40 billion) during the period under review, a record level ever...

Yesterday 5 April 2018, the German NGO for development cooperation and emergency assistance, Deutsche Welthungerhilfe launched a land tenure project for small-scale farmers in Burkina Faso. With a total cost of CFA180 million, this project known as Multi-Operators Partnership (MAP), is the result of a close collaboration between the country’s farmers confederation (CPF) and Deutsche...

Zambia and DR Congo have signed a MoU to extend the joint Luapula River hydroelectric development project’s deadline. According to this MoU, the new deadline is 2021. Let’s note that Congo’s national power utility (SNEL) and Zambia Electricity Supply Corporation (ZESCO) received $3.5 million to carry out the technical feasibility studies.  Furthermore, World Bank has also...

The United States of America will provide a sum of CFA28.6 billion ($53.2 million) to Mali, Journal de l’Economie Malienne revealed yesterday April 5, 2018. The document signed last March 29, is in line with an agreement concluded by both countries for the period 2016-20. This amount should enable the Malian government to support development projects in health, education, good governance...

CDC Investment, the British institution for development financing, announced in a statement, it has signed a cooperation framework-agreement with China-Africa Development Fund (CAD Fund), a Chinese investment fund focused on Africa. The agreement aims to strengthen relations between both institutions and boost investment in Africa. The China-African fund created in 2007 and CDC Investment, that...

Jim Dando, Nissan’s director of operations, announced that the Asian company plans to set a car assembly plant in Kenya. According to information relayed by Bloomberg, the company will gradually start by assembling half-finished vehicles in the existing plants with an investment of about $20 million. By 2019, the Japanese company would have set an operational assembly line and thus be...

  In Kenya, revenues from coffee exports dropped by 11% to KSH10.4 billion ($103 million), in the first half of the 2017-18 season (September to March). This was revealed by Nairobi Coffee Exchange (NCE). According to Daniel Mbithi, NCE’s MD, this decline is attributable to a drop to 120 cents (its lowest level in the last two years) on the international market.  This...

This week, 297 officials of Madagascar’s land and domains office from all regions in the country gathered to review the law on registration and land ownership’s legal regime, enacted in December 2017. This meeting is a continuation of the process started late 2017 by Antananarivo to improve land management. The officials should re-examine 19 articles of the law (voted by the...

Kenya’s macadamia exports increased by 19% to KSh5.1 billion ($50.1 million) in 2017. This was revealed by Business Daily Africa which reports data from the country’s Directorate of nuts and oilseeds. According to the institution, this increase in value was pulled up by higher price per kilogram on the export market and a growth in exported volume, as planted areas grew and...