In the first half of 2017, mining in DR Congo has generated $295.3 million of revenues, up 9% compared to the year before, over the same period.  This was revealed by the minister of finances of the country cited by Reuters on Sept. 12, 2017. The official added that oil and gas revenues in the country soared 140% over the period. At the end of August, the Central Bank of the country...

On Monday, a two-day seminary regrouping around ten of Ivory Coast’s political party, members of the prospective platform for political parties (PPPP), began in Grand-Bassam, in the South Eastern part of the country. The goal of the meeting, AIP reports, was to “think on the rural land issue and its consequences in Ivory Coast”.  Present at the session was Thilo Shöne, resident...

The African Development Bank (AfDB) has decided to invest FCFA500 billion (about $910 million) in Burkina Faso, in two key sectors of activities, namely power and agriculture, over the next five years. This results from talks between the institution and the Burkinabe government, last September 8, to review their cooperation and define perspectives regarding strategic decisions which AfDB...

As bids increase and many companies are joining talks to acquire stakes in South Africa’s leading cement producer, Dangote Cement is supposedly getting ready to buy PPC Group, according to various South African media. The competition will be rude for the Nigerian tycoon considering that it will be facing giants like LafargeHolcim and Heidelberg, respectively number one and two of the sector...

The European Bank for Reconstruction and Development (EBRD) has granted a $10 million funding to Union Internationale de Banque (UIB), Tunisian subsidiary of French group Société Générale, so that it finances its external trade operations. Support from the London-based institution will cover guarantee issuances by the Tunisian lender, for a maturity of up to three years, as well as its...

LSE-listed Stella Diamonds with diamond mines in Sierra Leone, announced last Monday that it intends to raise £530,000 to finance its Tongo-Tonguma project in the country. The fundraising will take place in two steps. The first which will result in the mobilization of £330,000 will occur through the placement of 10.15 million new ordinary shares at a unit price of 3.25 pence, while in the...

With a total of 35,365 units sold in the country, Morocco was Renault’s largest sales market in Africa during the first half of 2017, according to a report from the French car maker. Worldwide, Morocco is the 15th biggest purchaser of Renault’s cars.  Morocco’s performance brought Renault’s sales up 10% in the Maghreb region where it is in Tunisia, Egypt and Libya namely, besides...

The African Development Bank (AfDB) will inject $200 million in Morocco’s industrial sector, by 2020. This is line with the second stage of its Support Programe for rapid industrialization in Morocco (PAAIM). With the new announcement, the institution would bring its overall contribution to the sector to $400 million.  According to AfDB’s managing director for Northern Africa,...

In 2016, investments in the rubber sector stood at FCFA11.1 billion in Gabon, thus consolidating the government’s objective to boost agribusiness.  The funds were spent to develop and expand rubber plantations, regenerate plant cover in these, and improve productivity. Regardless, there was some underperformance due to degradation of processed volumes.  According to the general...

Mauritius will provide foreign currency support to its export-oriented sectors, in order to cushion them against the impact of a strong rupee. According to Reuters which reported the news, the country will provide advantages exporters with some advantages, in regards to the rupee/dollar exchange rate. This is in response to a call from the exporters after export revenues slumped by 8%...