Nigeria and South Africa could soon get out of recession due to a slight increase in prices of base products started in the beginning of 2016. The rainbow nation’s economy indeed grew by 2.3% during the second quarter of 2017 (against the first), according to a survey of Reuters, while the gross domestic product (GDP) of Nigeria, Africa’s leading oil producer, grew by 1.3% compared to 2016,...

LE REASSUREUR AFRICAIN, a magazine devoted to the leader in African reinsurers, AFRICA Ré, is publishing a FINACTU contribution on "Technology and insurance: promoting flexible agriculture in Africa". FINACTU is proud to share its African expertise in agricultural insurance in an article published in the AFRICA Ré magazine about "Technology and insurance: promoting flexible agriculture in...

Glencore has sold to Canada-based firm Trevali Mining, its stakes in the Rosh Pinah and Gergarub zinc mines in Namibia (80% and 39% respectively) as well as its 90% stake in the Perkoa mine in Burkina Faso, for $417.86 million. The anglo-swiss giant revealed this weekend that it has finalized the transaction which was announced in March, and also includes the Heath Steele project in...

Executives of China Gezhouba Group Company (CGGC), the Chinese firm which is in charge of construction works for two hydropower dams in Gabon, met with the new minister of power of the country, Patrick Eyogo Edzang to discuss development schedule for the project. “We have already set a course for the project. Files needed for funding have all been submitted to the bank by the Chinese part. We...

On August 31, 2017, in Antananarivo, capital city of Madagascar, a workshop aiming to integrate land governance in the country’s agricultural sector was held.  Co-organized by the government and the Land Policy Initiative (LPI), a joint programme of the tripartite consortium consisting of the African Union Commission (AUC), the African Development Bank (AfDB) and United Nations Economic...

The World Bank has just set aside FCFA 160 million to finance in Mali, a project to establish a land commission in Ségou. Related works for the project began on August 22 in the administrative region which is located in the central part of the country. “This project aims to boost land tenure, facilitate public and private investments, insure equal access to land as well as mitigate and...

Britain has reduced the amount of money given to Nigeria in humanitarian aid claiming that the government of Africa’s most populous country must step up and do more to stop attacks by Boko Haram. This is coming after an official visit by Foreign Secretary, Boris Johnson, and International Development Secretary, Priti Patel (photo), to the West African country. The British government on Tuesday...

The Aviation sector contributes about US$8.2 billion to Nigeria’s gross domestic product annually, according to Hadi Sirika (photo), the Minister of State for Aviation.  Speaking at the 15th edition of the National Council on Transportation (NCT) taking place in Sokoto State on Wednesday, he said the money is generated through sources like Landing and parking charges, overflight charges,...

In Nigeria, the Federal Executive Council (FEC) has approved the construction of the $5.8 billion Mambilla hydroelectric power plant by the China Civil Engineering Construction Corporation (CCECC).  According to the Minister of power, works and housing, Babatunde Fashola (photo), 85% of the funding for the project will come from China’s Export-Import Bank while the Federal Government...

Ethiopian Airlines on Wednesday said it is in talks to take over the management of Nigeria-based Arik Air. According to Ethiopian Airlines' head for international services Esayas Woldemariam, the negotiation is a sequel to request by Nigeria's aviation ministry. “We definitely are willing and able to take over the management of Arik Air.” Ethiopian Airlines is one of Africa's largest...