During Q2 2017, the mining firm Roxgold which operates the Yaramoko mine in Burkina Faso has sold 28,788 ounces of gold for $36,166,000. In its financial report released last Monday, the firm indicated that it generated cash flow from mining operations totaling approximately $18.6 million during the period reviewed. Regarding its output, it stood at 27,970 oz and cash operating...

Since it was established about 50 years ago, the African Development Bank (AfDB) has injected a total of $30 billion in Africa’s transport sector. The funds were dedicated to more than 450 projects across all the institution’s member states, resulting in the construction of more than 40,000 km-long of asphalt roads. Regarding maritime transport, AfDB invested in the construction,...

In Ivory Coast, volume of cocoa transported to the ports of Abidjan and San Pedro for the ongoing 2016-17 season stood at 1,925,000 tons at August 13, up more than 33% as compared to last year’s figures (1,444,000 tons). According to Reuters who reported the estimates, 11,000 tons of cocoa were brought to the ports last week. That is close to thrice more than the year before (4,000 tons). The...

To boost farming in the Souk Ahras wilaya, in the North Eastern part of Algeria, 2686 deeds for State-held lands were awarded to private investors, according to Algerie Presse Service (APS). “The attribution of the deeds for the lands that span 65,516 ha aims to boost investment and financing in agriculture. It falls in line with an inter-ministerial circular setting the conditions and...

The New Nigeria Development Company (NNDC) in partnership with a Turkish firm plans to invest $15 million in reviving the collapsed Kaduna Textile company in Kaduna state. The Group Managing Director of NNDC, Ahmed Musa, made this known after a meeting with a Turkish business delegation at the NNDC head office in Kaduna. According to Musa, under the partnership, the Turkish firm, Sur...

In Nigeria, Niger state government has signed a Memorandum of Understanding (MoU) worth $3.25 billion with All States Investment Ltd., for fish farming in the state. The agreement was signed at the 2017 Niger State Investment Summit in Minna on Tuesday. According to Henry Goiko, Managing Director of All States Investment Ltd, the investment also includes the establishment of an Integrated...

The Transmission Company of Nigeria (TCN) has secured $1.55 billion from the African Development Bank (AfDB), the Islamic Development Bank (IDB), the Japan International Cooperation Agency (JICA) and the European Union, to execute numerous projects in the country. Usman Mohammed, Managing Director of TCN, disclosed this while briefing the press in Kano on Monday. He said the fund aims to...

In Nigeria, the Federal Government has commenced a $41 billion railway expansion project which aims to improve movement of goods across the country. The new project involves the construction of a 1,100-kilometer railway line to connect the nation’s two biggest cities, Lagos, and Kano and another coastal railway that will connect Lagos to the eastern city of Calabar. The two new railways...

The Federal Government of Nigeria has approved a N39 billion ($106 million) loan facility to Electricity Distribution Companies (DISCOs) for the supply of meters, according to Babatunde Fashola (photo), Minister of Power, Works and Housing. This, he disclosed at the 18th Monthly Power Sector Stakeholders Meeting hosted by Kano Electricity Distribution Company (KEDCO) in Kano on Monday. He...

Mauritius must reinforce its monetary policy to tackle shocks and contain inflation which threatens its economy, according to the International Monetary Fund (IMF). “Inflationary pressures spurred back due to the offer’s shocks, however they are solutions to contain it,” said a team from the institution at the end of its annual mission in the country. “Government should tackle...