In Cotonou since last Sunday, the head of the International Monetary Fund, seems very optimistic regarding the reforms initiated by the Talon government. Mrs. Lagarde lauded the government for its efforts in consolidating its public finances and for implementing structural reforms to restart Benin’s economy which was one of the least performant of the WAEMU in 2016. She also reiterated her...

OneTech, a group specialized in the manufacturing of circuit boards, electronical and mechanical assembling, connectors and wiring, has obtained on December 11, 2017, a €21 million funding from the European Investment Bank (EIB). The monies will help accelerate the development of the firm’s innovative products, research and development and innovate in the wires and mechatronics...

The Ivorian government has committed to pay a premium of CFA15 million ($25,782) to each soldier who voluntarily agrees to retire on December 31, 2017, Reuters reports. This measure falls under a scheme to reduce the size of the army which became too big (25,000 soldiers) causing many mutinies since the beginning of this year. Indeed, by 2020, Côte d’Ivoire plans to reduce the size of its...

Burkina’s company for textile fibers (SOFITEX) has secured from a pool of 12 banks, a loan of CFA70 billion for the 2017/18 cotton season, Sidwaya reported. The related agreement was signed on December 8, 2017, in Ouagadougou. The loan which comes at an interest rate of 6%, should be used to buy input and cotton seeds from producers, as well to convey the commodity to the SOFITEX’s 15...

On December 8, 2018, Cameroon’s national assembly has approved the 2018 finance bill of CFA4513.5 billion submitted by the government. Approved, despite the critics of some deputies of the opposition, the new budget has increased by CFA139.7 billion (3.2%), compared to 2017 budget which was CFA4378.8 billion. Leaning on a 4.2% provisional economic growth, the budget projects an increase of...

If the operators of the radio installations, at Mount Mbankolo which towers Cameroon’s Capital, do not comply with the regulation, the ministry of posts and telecommunication will remove their installations and make them pay for the removal. This warning is in the communique published by Minette Libom Li Likeng, the minister of post and telecommunication, who revealed that some installations...

The African Development Bank has approved last week, a $100 million loan for the development of a bauxite mine in the North West of Guinea. The project is managed by Guinea Alumina Corporation (GAC) subsidiary of Emirates Global Aluminium, and is situated in the region of Boké.   The funds will be used to build the mine, establish an export terminal dedicated to the Kamsar Port,...

The parliament of DRC has adopted a new mining code which should boost taxes and royalties paid by mining firms operating in the country. The news which was disclosed this week-end, was relayed by many international media such as Reuters and BBC Africa. The revision project was proposed in 2015 but its adoption process was halted in March 2016 due to various objections from mining...

In Senegal, Futurs Médias (GFM) group has launched on December 9, Tv channel l’Obs TV and a sport daily Record. According to Ibrahima Dieng, who is in charge of the two media, their creation results from a partnership between GFM, Kwesé TV and Africanews. “It is an exclusive alliance with the pan-African channel Kwesé Free sport and a partnership with Africanews, the Africa-focused...

Huawei International has officially started construction works for the first stage of the national fiber optic backbone project, on December 10, 2017. This stage which extends on a distance of 2,001 km was officially launched in Gaoua, in the region of Bafuji, by the president of the Republic, Roch Marc Christian Kaboré (photo).  This first phase is estimated to cost CFA50 billion. It was...