Industrial land in Algeria is largely underused, according to a study carried out by the country’s ministries of Interior and Industry. “The report shows that there are 11,600 hectares of land reserves which are destined to investment that are being underused. These include 5,530ha of non-attributed plots, of which 2,773ha in industrial areas and 2,757ha in business areas. The same study...

The World Bank will provide Guinea $503 million to finance 12 projects aimed at developing its power, mining, agriculture and infrastructure sectors. This was disclosed last Tuesday, on the national TV, by World Bank’s vice president Africa, Makhtar Diop, after meeting with President Alpha Condé. The financial aid, which intends to support the economy’s diversification as it currently...

Malawi’s power utility EGENCO signed with Japanese firm Mitsubishi Corporation a contract to boost its power output by 18MW. The related project received a $52 million subsidy from the Japanese government via its international cooperation agency. Under the agreement, Mitsubishi will, starting next October, begin the construction of a hydropower plant at Tedzani. The project is expected...

The Federal Government of Nigeria on Tuesday said it has granted Ondo state an oil block licence for the exploration of bitumen in the state. This is in line with efforts to diversify the economy from oil and boost the country’s foreign exchange, according to Mohammed Amate, Director of Mining Licence at the Ministry of Mines and Steel Development. Amate disclosed this at the first Ondo...

There are strong indications that Bharti Airtel will emerged as a potential bidder for Etisalat Nigeria (now officially 9mobile), as the Indian company is looking to boost its assets in the country. According to Economic Times of India, Nigeria is Airtel’s biggest African market, with about 30% of its revenues coming from the region. The collapse of Etisalat Nigeria is, however, seen as a...

The Federal Government of Nigeria has revealed plans to commit a sum of N1 trillion ($2.9 billion) to the construction of housing units under the new Social Housing Programme. This aims to fill the housing gap in the country and stimulate economic growth. Speaking at a Housing Show held at the International Conference Centre in Abuja on Monday, the National Chairman of the All Progressives...

Master Reality International Concepts Limited has revealed plans to construct a N5 billion ($14.6 million) Information Communication Technology (ICT) mart and laboratory in Lagos, Nigeria. To be sited on a three-acre land in Ikeja, Lagos, the ICT centre will be a one-stop shop solution to all ICT related issues, provide content, and help in diversifying the Nigerian economy from oil, according...

The Republic of Indonesia has expressed readiness to expand and promote trade relations with Nigeria which has a large population and high growth rates. In this framework, the country is sending a trade mission team to the West African nation from July 20-26, 2017. In a press statement on Wednesday, Trade Minister, Enggartiasto Lukita (photo), explained that the visit was scheduled to fast...

In Madagascar, 2,800 land deeds were issued to farmers of Andriambilany, in the central region, in the framework of the project for Agricultural growth and improvement of land tenure (CASEF), News Mada reported. “Valued at $53 million which were secured through a loan from World Bank, CASEF has been implemented in various parts of the country in the past year. In the Andriambilany...

The Nigerian Stock Exchange (NSE) on Monday said it has launched a new market surveillance platform that will enable it reduce fraud in the Nigerian market. Powered by SMARTS, a Nasdaq’s flagship surveillance solution, the platform will allow NSE monitor market manipulation, detect and prevent manipulative tendencies and carry out multi-asset and cross-market surveillance, among...