During Q4 2017, the unemployment rate decreased to 11.3% in Egypt, according to the central statistics agency (CAPMAS). Indeed, a quarter earlier, it was 12.6%. This means that 204, 000 people joined the rank of the employed during the quarter under review. On a year-on-year basis, the number of unemployed also declined by 282,000 to stand at 3.3 million in the period under review, compared...

Last Feb. 19, authorities started compensating residents of the Glo-Djigbe district (Abomey-Calavi commune) who were expropriated in the framework of an airport construction project. This was reported by the daily newspaper Le Matinal. “Amount paid as compensation depends on the size of the land from which one was expropriated. Hence, it varies between CFA3 million, CFA12 million and...

Last February 20, the polytechnic school of Abomey-Calavi (EPAC), the electric community of Benin (CEB) and University of Lomé signed a framework cooperation agreement. The institutions were represented by Prof. Dodzi Kokoroko, the president of the University of Lomé, Mohammed Soumanou, EPAC’s director, and Karimou Chabi Sika, CEB’s managing director. According to Togo First, the main...

Today February 21, Golden Rim Resources announced a $3.5 million fundraising campaign to fast-track exploration at its Kouri gold project in Burkina Faso. So far, it has received commitments from a number of investors for the placement of 87.5 million ordinary shares, worth 4 cents each. “We are pleased with the overwhelming support the company received for the capital raising from a...

The Ivorian Coffee and Cocoa Council (CCC) revealed that SOPEX is no longer authorized to sign contracts with Ivorian cocoa exporters and processors during this campaign and the next ten years to come because the company didn’t respect its business commitments. The council however declared that the sales already initiated won’t be affected.    According to Reuters, the group...

Triton Minerals signed an agreement with Gregory James Sheffield to purchase its 20% share in Grafex Limitada, a subsidiary of Triton that holds several graphite projects in Mozambique. Once the transaction is completed (by next March 21) Triton’s interest in Grafex will increase from 80% to 100%, giving it full ownership of projects that include Ancuabe mine. In exchange, the company...

This year, Rwanda will issue 50 new mining licenses. These licenses will be related to ores such as gold, tantalum and tin. The government expects to boost investments by 1/5 in the country. Indeed, thanks to these issuances, $2billion will be invested in the country against $1.6 billion in 2017. By developing its mining sector, Rwanda will boost its growth to 7% against 6% last year....

A march will be organized on March 15, 2018, to protest the land acquisition practices of real estate companies and agencies. This was announced by the coalition for housing right defense associations (CADDL). By doing so, the coalition intends to force the government to find “fair solutions" to what is considered as a housing crisis. "Instead of slums, we want social housing at...

China Engineering Corporation (CEEC) secured a contract to build a 400 MW combined cycle plant in Nigeria. The facility which will be built in Sagamu (Ogun state) is estimated at $550 million, but the contract’s value was not disclosed. Under the terms of the agreement, the Chinese company will be charged with the development, material’s acquisition and construction of the...

On Feb. 20, 2018, Uganda launched the first electronic auction of its coffee, Bloomberg reports. According to Martin Maraka, the program manager at the African Fine Coffees Association, this approach will involve 10 countries including Australia, U.S, some Asian and European nations and two African countries. The 3-days auction will become an annual event. The main challenge...