East Africa Metals (EAM) signed with Luck Winner Investment (LW) a binding memorandum of understanding (MoU) to finance its mining projects in Ethiopia. Under the terms of the agreement, the two firms will conduct talks to seal a partnership agreement to establish a joint venture in which EAM will hold a 30% stake while LW will hold the remaining 70%. LW will thus invest up to $250 million...

Madagascar is currently facing a plague epidemic and according to authorities, it has already killed 25 people. The government is working with the World Health Organization (WHO) to tackle the issue efficiently. It has in this framework suspended all manifestations and gatherings in Antananarivo, the capital city.  Despite the fact that Madagascar has been battling the disease every year,...

Niger has issued CFA15 billion worth of treasury bills, last Friday. These bonds have a three-month maturity period. The objective of the operation is to tap into the savings of physical and legal persons to satisfy the funding needs of the Niger’s State budget. The nominal value of each bond is FCFA1 million and it comes with a multiple interest rate. Maturity date is fixed on December 31,...

In Somalia, the new law on telecommunication, approved last August by the council of ministers, the national assembly and the senate, is finally effective. It was signed into effect on October 2, 2017, by the president of the Federal Republic, Mohamed Abdullahi Farmajo (picture). According to the minister of posts, telecommunications and technologies, Abdi Ashur Hassan, this law took time to be...

On Sunday 1st October, 2017, the Hanns Seidel foundation distributed in the Democratic Republic of Congo land titles to 260 farmers under the NTSIO agroforestry project. The distribution took place in the presence of the Congolese minister of environment and sustainable development, Amy Ambatobe Nyongolo, and the European Union’s ambassador, Bart Ouvry. “Land titles awarded to us are very...

There is a new development in the Kwese TV affair in Zimbabwe. Indeed, while the activities of Econet’s subsidiary were suspended after an appeal of the Broadcasting Authority of Zimbabwe (BAZ), Kwese TV was given the permission to broadcast awaiting the decision of the Supreme Court. The pay-tv channel owned by Strive Masiyiwa (picture) demanded the High Court to allow the continuing of its...

Equatorial Guinea signed a memorandum of understanding with the Chinese firm China Unicom and the Cameroon public telecommunication service provider, Camtel, in charge of the undersea cables construction project which will link Cameroon to Brazil, according to an official announcement.  With this memorandum, the Republic of Equatorial Guinea shows his will to join the adventure which will...

Mining firm Hummingbird Resources signed a letter of intention (LOI) to acquire 50% of the Kobada gold project, in Mali, which is managed by African Gold Group (AGG). The closing of the transaction, which comprises an initial investment from AGG, is subjected to a certain number of conditions including the signing of a binding agreement within 45 days. According to the agreement’s terms, the...

Victims of land speculation in 37 municipalities of Kati, in the south of Mali, organized last Thursday a protest march to denounce the practice. “Massive agricultural land grabs for personal interest, which affect tens of thousands of hectares via speculation, hurt customary and human rights and prevent local communities and farmers from practising agricultural and pastoral activities on...

Siemens signed with the government of Madagascar a memorandum of understanding to add 300MW of power to the country’s production capacity, by 2019. More generally, the agreement concerns measures to take to increase the country’s power output. “The goal of this agreement is to increase the country’s national output and connect local populations to the power grid. A reliable and...