During a meeting last Thursday with Togo’s president, Faure Gnassingbé, UBA’s President, Tony Elumelu said he would open in Lomé, Togo’s capital, a branch that will support SMEs, financially. Elumelu firmly believes Africa’s development will take place through its entrepreneurs. “The private sector holds the key to unlocking Africa’s human and economic potential,” he recently...

Portuguese group Simoldes, one of Europe’s leading mould makers, plans to build in Morocco a plant which will manufacture plastic mould products for cars. The project will cost the company more than 60 million euro, news website L’Usine Nouvelle reported on October 24, 2016. The project is part of 30 industrial investments worth €690 million announced on 4 July 2016, in Casablanca,...

SAP, management and maintenance software and system developer, has commissioned its first co-innovation lab (COIL) in Africa. The infrastructure which will be established in South Africa will provide SAP a practical environment to innovate in collaboration with software solution partners, system integrators and technology partners. Brett Parker, chief executive of SAP Africa said co-innovation...

During a meeting at the Stade de la Paix of Bouaké (central-north Cote d’Ivoire), Ivorian President, Alassane Ouattara announced that a rural land agency would be established before the end of the year. The agency which will focus on ending all conflicts related to rural lands is one of the major measures developed under the government’s new land policy. “I would like to once more talk...

ASX-listed miner Resolute Mining signed a share swap agreement with Osisko Mining to acquire its 12.9% interest in Kilo Goldmines which holds multiple exploration licences in DR Congo. The purchase will bring at 27.4% the company’s stake in Kilo, after an initial acquisition of 27.4% in Kilo in August 2016. Under the new agreement, Resolute will purchase through a wholly owned subsidiary,...

Rwanda is seeking funds, about $225 million, to build an 80 MW peat-fired power plant, in Akanyaru marshland, Gisagara district. “We are running a major project for peat power plants in order to achieve our objective of 563 MW by 2018, which will provide us with enough energy to support the growth of our economy. We are currently looking for funds to concretize this project,” said...

Kenya’s leading retailer Nakumatt Holdings has started talks with local and foreign investors to sell about 25% of its capital in order to slash its debt which tripled over their past five years. “The company, based in the capital, Nairobi, is in discussions with foreign and domestic investors that are expected to be concluded within weeks,” Chief Executive Officer Atul Shah said cited by...

Trade volume between Morocco and the rest of Africa increased by 11% average per annum between 2005 and 2015. This was revealed in the financial and economic report joined to the 2017 draft budget submitted by Morocco’s government. In 2015, it stood at 40 billion dirham ($4.08 billion) and represented 7% of Morocco’s external trade, against 5% in 2005. Sub-Saharan Africa positioned itself as...

Gathered for a conference to assess gains of the YieldWise initiative by the Rockfeller foundation, experts said last Wednesday that Africa’s food imports could explode if the continent failed to solve its post-harvest losses issue. The experts said that if nothing was done, food imports by the continent, currently at $35 million per year, could soar to $110 billion by 2025. “Most...

South African pharmaceutical chain Dis-Chem said it would raise $359 million by listing on the Johannesburg stock market. The move aims to slash the firm’s debt and allow its founders to compensate some of their investments. To this end, it plans to sell 27.5% of its capital, which is 238.4 million shares at unit price of R16.25-R20.55, valuing the company at $1.44 billion....