After recording a surprising 75% growth in 2016, prices of iron keep up the trend. Indeed, on Feb.21, a ton of iron traded at $94 on the Qingdao stock market in China, thus a 17% surge since the beginning of 2017. Its highest level since 2014. The increase was mainly due to the rise of steel’s price paired with a strong Chinese demand. The price surge drove many mining firms including...

“Without additional efforts to promote pro-poor development, reduce inequalities and protect vulnerable people, more than 600 million people would still be undernourished in 2030.” This was revealed by the United Nations Organization Food and Agriculture Organization in its new report entitled “The Future of Food and Agriculture: Trends and Challenges”. Despite welcoming the progress...

The executive office of the National Association of Communities of Benin (ANCB) opened yesterday a workshop themed “Harmonizing the process of implementation of land and domain rule at the communal level”. Regrouping various land management experts, the session aims to “develop appropriate solutions to sanitize land rule to better adapt it to communities across Benin”. ANCB’s goal is...

The Debt Management Office (DMO) on Wednesday, disclosed plans by the Federal Government of Nigeria to issue a new savings bonds aimed at retail investors. “The bonds will be good for savings towards retirement, marriage, school fees, house projects,” the debt office said. The bond which is expected to be sold this month will offer two and three-year maturities with interest to be paid...

Dangote Cement Plc in its 2016 full year audited results announced that its sales in Africa, Nigeria excluded, have soared 54% to 8.6 million metric tons of cement compared to 2015. In addition, it has exported 0.4Mt of the product from Nigeria to its neighboring countries, thus making the nation a net exporter of cement. The Chief Executive Officer of Dangote Cement Plc, Onne Van der Weijde,...

The Kebbi state government has launched a N1.7 billion ($5.4 million) project to rehabilitate 57.8km-long of rural roads. Governor of the State, Abubakar Atiku Bagudu (photo), who disclosed this on Tuesday, said the project is part of his administration’s campaign promises. He added that with the support of members of the House of Assembly, residents of the Ribah, Wasagu, Bena and Zuru...

In Cote d’Ivoire, conflicts are arising due to the recent implementation of a constitutional reform which grants exclusivity of land ownership to nationals. This was said by Zéhouri Paul-Arnaud Bertin, notary and expert of land issues at World Bank, in an interview with information website L’Infodrome. “I understand the conflicts given that the new rule which states that non-ivorians...

Benin plans to mobilize FCFA150 billion via a public offering which is extends to the 31st March, 2017 and started yesterday. This was revealed by the government in an official statement. It states that the State will issue bonds at a unit price of CFA10,000. The bonds will mature over 10 years and have an interest rate of 6.5%. “Those interested can subscribe to the bonds via management and...

All broadcasting stations in Nigeria are to pay all outstanding licence fees by March 15, 2017, or face strict sanctions. The Director-General of the National Broadcasting Commission (NBC), Is’haq Modibo Kawu (photo) issued the warning at the broadcast stakeholders’ meeting in Abuja. He urged the operators to pay the sum owed, knowingly about N5billion ($15.9million). The official added...

Algeria plans to issue a halal bond between April and May 2017, minister of finances, Hadji Babaami announced on February 27. “We are studying a project to issue a new bond this year, interest-free however,” the official said on the sidelines of a council of the upper house of the Algerian parliament). According to him, maturity period for the bond goes over 3 years and its securities will...