The European Bank for Reconstruction and Development announced it will lend Tunisia $5 million to help it develop its olive oil production sector. The financing which will be directed to Sovena MENA and Tiba Foods, subsidiaries of Sovena, to allow them to expand their olive oil supply networks and boost their production capacity for export-directed bottled oil. The facility thus goes...

In Ghana, PEG Africa, solar energy solution provider, plans to supply power to 75,000 people. To do so, the firm mobilized from ResponsAbility, SunFunder and Oikocredit, $500,000 each totaling $1.5 million. “We hope to support PEG in achieving meaningful growth. Off-grid solar for improving the living standards of economically disadvantaged people is a big opportunity in Ghana and...

Mining company Burey Gold inked an agreement with Emirati firm Medidoc FZE to buy a 60% onterest in Tendao project which comprises five exploration licences covering a total of 1,456 km², in North-Western part of DR Congo. The deal will help the firm reinforce its presence (more than 2,000 km²) in the Kilo-Moto greenstone belt where it  already operates the Giro project. President of...

The European Union (EU) will provide Tunisia €300 million of financial aid every year starting from 2017, till 2020, Federica Mogherini, High representative of EU in charge of foreign affairs and security policy, revealed on November 1. Mrs. Mogherini made the announcement in Tunis as he was meeting Tunisia’s minister of foreign afffairs, Khemaies Jhinaoui. More than five years after...

Algeria has released its first locally made Hyundai car on October 29, three days ahead of initial schedule, announced Tahkout Manufacturing Company, a joint venture of Algerian firm Tahkout and South Korean car maker Hyundai. Produced at the Tiaret factory (located about 300km west of Algiers), the SUV Hyundai Tucson will be sold with a five year guarantee and at a cost 30-35% less than models...

The African Development Bank (AfDB) has announced in a statement released on Nov 2 that it has granted Tunisia a €180 million loan to regional disparities. The loan which is part of the Programme d’appui au développement regional inclusive (PADRI) will help stimulate regional development in the 16 major governorates by promoting investment, social inclusion and local governance. PADRI...

On November 3, 2016, Siaka Minayaha Coulibaly, Director of Cabinet of Ivorian Minister of Agriculture and Rural Development, has revealed at the Africa Agri Forum the functions of the coming Rural Land Agency (AFOR) recently announced by President Ouattara after the referendum campaign that just ended in Cote d’Ivoire. Expected to be operational in January 2017, the agency should help...

The members of the Union des Associations et Coordination d’Associations pour le Développement, la Défense des Droits des Démunis (UACDDDD) at a press conference held last Sunday strongly reaffirmed their determination to countering “land predators”. The Malian civic society organization has in sight three main issues it wants to tackle: first is the announced demolition of Bamako’s...

In its report on the economic outlook for the sub-Saharan region updated in October 2016, the International Monetary Fund (IMF) said Cote d’Ivoire, except a last minute turn of event, would record the highest growth rate in the region between 2016 and 2018. The West African nation should thus fare better than Ethiopia, Rwanda, Tanzania and Senegal over the period considered. According to...

Mining company Teranga Gold plans to proceed to a fundraising for AU$65 million (about $49.9 million) to advance the Banfora gold project which it recently acquired in Burkina Faso. To raise the funds, the firm signed an agreement under which it will issue 62 million shares at AU$1.05 a share. Of this volume, 32.5 million shares will be issued on a bought deal basis through a syndicate of...