Senegal’s GDP should exceed 6% in 2017, for the third consecutive year. This was disclosed on Monday by the International Monetary Fund (IMF) in a statement. Resulting from economic stability, this performance was mainly driven by services, tourism and agriculture. Moreover, inflation which was quite low, in conformity with WAEMU’s convergence criteria, contributed to a boost in domestic...

On Monday, Avocet Mining has announced it has signed with the Balaji Group an agreement to sell it all its assets in Burkina Faso, including the Inata gold mine. The firm explained that the sale falls under its restructuring programme resulting from the non-payment of $28.7 million of loans contracted from Manchester Securities Corp. Under the terms of the agreement, Balaji Group which...

As of 2020, the countries of the West African Economic and Monetary Union (WAEMU) should abandon the CFA and progressively adopt ECOWAS’ single currency. This was revealed on Saturday, 16, 2017 by Roch Marc Christian Kaboré, the president of Burkina Faso, in Ouagadougou. The decision was taken during the 52nd ordinary session of the Conference of ECOWAS’ Heads of State and...

An interconnection network will soon be established to link Egypt and Saudi Arabia. The project is estimated to cost $1.6 billion which will be financed respectively by Egypt ($600 million) and Saudi Arabia ($1 billion).  Mohamed Shaker (photo), Egyptian Minister of electricity, revealed that the related agreements for the project will be signed by March or April 2018 and construction...

The Yanfolila gold mine in Mali, should produce its first gold before the end of this month. This was announced at the end of last week by Hummingbird Resources, the firm that owns the project, in an update of progress made so far on the latter.  The firm also revealed that the treatment plant at the site started operating. It has started sending in the first volumes of stored ores in the...

Société Générale de Surveillance (SGS SA) was selected by the Ivorian State for the collection and processing of electronic waste in the country. In partnership with the African Recycling Company (SAR), SGS which specializes in the inspection, verification, certification and institutional mentoring has recommended the government a three-module management solution. The first module concerns...

The National Commission for Human Rights of Côte d’Ivoire (CNDHCI) has organized on December 12 and 13, 2017, a workshop themed: “Human rights and land issues”. Financed by the Friedrich Naumann foundation, this workshop was targeting the 31 regional commissioners of the country. According to its organizers, the initiative was held amid various land conflicts taking place in the country,...

U.S has just lifted the temporary ban it previously imposed on citruses exported from Berkane in Morocco. This was revealed on December 17, 2017, by the national office for food safety (ONSSA). The ban was imposed since last year, on December 23, after Mediterranean fruit fly larvae or Ceratitis was found in two cargoes of clementine which were to be exported to the United States. According to...

Senegal has signed with the Islamic Trade Finance Corporation (ITFC) a €110.5 million funding agreement benefiting Senelec, the country’s power utility. The facility granted by the arm of the Islamic Development Bank (IDB) will help the utility improve the efficiency of the national power system. “This move will help guarantee the purchase of oil and gas used as fuel by the...

The African Development Bank (AfDB) has committed to invest $100 million in the Emerging Africa Infrastructure Fund (EAIF), a private-public partnership company managed by Investec Asset Management. The funding aims at reducing infrastructure deficit in sectors that are key to the continent’s development; that includes electricity, transport and manufacturing. Present in Africa since its...