The French Group M6 just acquired a 33% interest in the Ivorian TV channel LIFE TV, which is one the four operators allowed to operate a private commercial tv service on the national terrestrial TV network of Côte d’Ivoire. A convention was signed in this regard on December 14, 2017, by Fabrice Sawegnon, CEO of LIFE TV, and Nicolas De Tavernost, President of the M6’s board. This alliance...

Last December 14, Tunisia has initiated a land reform aiming to “tackle the challenges of the sector”. This was reported by Webmanager Center quoting the minister of State Domains and Land Affairs, Mabrouk Korchid (picture). “The first axis of this reform consists in enacting the State domain code whose elaboration was completed and will be submitted to the council of ministers,” the...

World Bank will disburse about $202 million in support to the development of Casablanca in Morocco, a statement from the institution indicated. This support should help accelerate the implementation of the 8-year plan for the development of Greater Casablanca (PDGC) whose overall cost was valued at $3.4 billion. “This innovative programme will not only help us tackle the...

From now on, a tax of CFA30 will be applied to every kilogram of cashew exported. The information was disclosed on December 14, 2017 at the end of a Council of Ministers. “Revenues generated by this tax will be used to finance activities that will boost value chains’ competitiveness and support cashew sector’s structuring. The tax can be amended during each campaign to take into account...

Teranga Gold has signed with the private firm Sodium Ltd, a memorandum of understanding to establish a joint venture to explore and develop the Afema gold permits in the Ivory Coast. Under the terms of the agreement, Teranga can hold a 70% initial stake in the JV if it proceeds to an exploration campaign and community works on the Afema permits. The campaign will last 3 years and the firm would...

The Tanzanian President, John Magufuli, instructed the Central Bank of the country to take actions against the failing banks and strengthen control on foreign exchange movements in order to protect the local currency (Tanzanian Shilling). "We now have some 58 banks in Tanzania, the [central] Bank of Tanzania should closely monitor these banks and take swift action against failing...

Since the end of 2013, the country has been strongly hit by the civil war. To meet the urgent needs of half of its population, 6 million people affected by the war’s disastrous consequences and drought, South Sudan will need $1.7 billion in 2018. This information has been given on December 13, 2017 by the United Nations and the South Sudan government. Alain Noudehou, United Nations...

The African Development Bank disbursed more than €71 million for the construction of a 714 km high voltage power line. The infrastructure which will link N’Zérékoré (Guinea) and Sanankoroba (Mali), will enable the electrification of 201 villages and provide a better access to electricity.  Marie-Laure Akin-Olugbadé, assistant general manager of the AfDB in West Africa,...

The International Fund for Agricultural Development granted Madagascar a loan and a donation of $53 million for the inclusive agricultural sectors development program (DEFIS). Edmond Randriarimanana, Malagasy Minister of agriculture and livestock, and Gilbert Houngbo, IFAD’s chairman, have signed the related funding agreement. The DEFIS, which is valued at a total cost of $250...

The Kenyan tycoon Baloobhai Patel increased almost fourfold his stake in the Cooperative Bank of Kenya (CBK). According to a statement of the bank, M. Patel who previously held 5.8 million shares in February, 2017, now has 25.2 million shares. Doing this, Patel upped his interests in CBK to 0.43% and becomes the second largest individual investor behind Gideon Muriuki, current chairman of the...