AIM-listed Bostwana Diamonds and joint-venture partner Alrosa began exploration at the PL 260 and PL 210 licences in Opara, Botswana, with sampling. The firm announced, at the beginning of March, it would start exploration which costs $700,000. This includes drilling of a 300m deep central hole and one or two large diameter holes, at a depth of 300m also, on the PL260 licence. Bulk sample...

Zimbabwe’s government, attempting to get back international community’s favor, opened a compensation fund for white farmers who were dispossessed of their lands as a result of land reform implemented at the beginning of the 2000s. The government plans to finance the fund by levying a fee on the families now occupying these lands. The new occupants however, mostly, with not much knowledge in...

In Zimbabwe, the government just reinforced its wealth sharing policy by issuing an ultimatum telling foreign-companies to comply with controversial indigenization law. According to the law, foreign companies are to transfer majority stake to black locals.   Minister of Justice and Indigenization, Patrick Zhuwao, announced on March 22, that Harare gave until April 1 to foreign companies to...

Tunisian government decided to use the €207,852,300 (DT471 million) it got from selling 4G licences to support its budget support program for regional development and job creation (PADRCE). This was announced on March 22, 2016, during ministerial council led by Prime Minister, Habib Essid. Tunisia, which had an unemployment rate of 15% of in 2015, intends, through this program, to achieve...

In Morocco, Adlive Network is a new web app for digital communication actors such as agencies, online media and advertisers. Via this application, these individuals or groups can meet and work together. The platform can be used to purchase a spot on digital media or to manage advertising campaigns on various channels (local platforms, social media, web, ect.). Mostly, the platform is opened to...

According to Verisk Maplecroft’s ranking of countries most vulnerable to natural disasters around the globe released on March 23, 2016, African nations top the ranking. Truly, eight out of the nine countries most vulnerable to the 11 types of natural disasters including earthquakes, tropical cyclones, floods, winter storms, fires and tsunamis are African. Southern Sudan tops the global...

In 2014, Global budget deficit of West African Monetary Union (UMOA) member-states increased by 1.5 base point to 4.8% of regional Gross Domestic Product (GDP), against 3.3% in 2013. This is mainly due to public debt soaring, as much has been invested to reduce infrastructural gap. The additional degradation led to sub-regional public debt rising to 44.7% of GDP in 2015, from 38.9% in 2014. The...

In South Africa, inflation soared to 7% over the year to February, highest level since May 2009, according to official statistics published on March 23, 2016. Last January, consumer prices rose by 6.2%, thus exceeding the 6% limit fixed by Central Bank. The rise is mainly due to Rand, South Africa’s currency, strongly depreciating, and severe drought hitting Africa’s most industrialized....

American energy producer Endeavor is about to raise $900 million to build a 1200 MW gas-fired power plant in Songon, Cote d’Ivoire. Sean Long, Endeavor’s Managing Director, said he was confident regarding the fund mobilization process. Endeavor will provide part of the funding in the form of private capital, with the help of Denham Capital, a private finance company which specializes...

Egypt’s justice has finally put an end to the case involving TV host Riham Said that started on October 28, 2015. The presenter published intimate photos of one of her guests, a young woman, without the knowledge of this one. Her guest had been sexually harassed in an Egyptian mall. On the pictures the presenter released, the young woman was wearing a two-piece swimsuit on a beach, and was with...