African coffee output could rise by 2-3 million tons, annually, in the next five years. Ishak Lukenge, president of African Fine Coffees Association (AFCA), told Bloomberg. According to the official, this increase will be spurred by measures undertaken to boost plantings and diversify  varieties produced while improving farming practices.  The countries which made the most...

On February 14, 2018, Côte d’Ivoire adopted a new ruling which cancels the tax exemption on industrial and commercial benefits (ICB) of mine operators. In a statement issued by the council of ministers, it is indicated that valid mining agreements and licenses granted before this ruling entered into force would not be affected.   “A discount of 75% and 50% of the ICB tax will be...

In Côte d’Ivoire, the 2018 cashew marketing campaign began today, February 15, 2018, with a minimum guaranteed price of CFA500 per kilogram. Compared to the nut’s price during the previous campaign, it represents an increase by CFA60. While in 2017 it produced 711, 236 tons of cashew, missing its initial target of 715,000 tons, Côte d’Ivoire expects 750, 000 tons during the present...

It is official, On February 14, 2018, Jacob Zuma resigned as President of South Africa. This comes after his party,ANC had successfully persuaded him to do so. Earlier in the day,he refused to resign claiming he was unfairly treated. “I did nothing wrong” Zuma claimed.Meanwhile,Parliament is preparing to vote a motion of no confidence whose outcome is already known. Jacob Zuma made his...

The debt of Ivorian finance sector rose again to 1.23% of GDP, during the third quarter of 2017, according to figures from a report by the Institute of International Finance. This is a new record since Q3, 2012 when the debt stood at 0.2% of GDP. The components of this debt were not detailed but according to data on the banking sector’s performance during 2014-16, the securitized debt of the...

Yesterday, Botswana Diamonds led by James Campbell, announced that it had raised £500,000 to finance the ongoing exploration activities in South Africa and Botswana. The fund was raised through the issuance of 50 million new common bonds, worth 1p each. The company, which is listed in London and Botswana, also said it has started exploration work on Sunland Minerals project in...

According to Business Daily Africa Reports,coffee exports revenue have decreased by 13% which translates to Ksh4.7billion($47million) between October2017 to January 2018. Daniel Mbithi, Managing director of Nairobi Coffee Exchange (NCE) alluded the poor performance to decrease in beans price in the international markets which is 120 cents per pound, the lowest in 2 years. He added that...

China will disburse $62 million (TZS138.8 billion) to finance the construction of a university that will cater for the transport needs of the country, thecitizen.co.tz reports. This information was disclosed after an audience granted to Ms Wang Ke, the new Chinese ambassador to Tanzania by President John Magufuli. According to the diplomat, the fund falls in the...

Congo has just signed a memorandum of understanding on cooperation in the civil nuclear sector with Russia. The agreement was signed by Congo’s ministry of scientific research and technical innovation and Rosatom, the Russian State Atomic Energy Corporation. It is the first agreement of this sort between both countries and lays the foundation for collaboration which will take into account...

World Bank will lend $482 million to Benin to help it finance the government action plan (PAG). This was revealed yesterday by Pierre Laporte, World Bank’s Country Director for Côte d'Ivoire, Benin, Burkina Faso, Guinea, and Togo. The loan which will be granted for 2018-2023 is part of a new cooperation agreement between the two parties. Thanks to it, World Bank expects to foster...