On November 24, World Bank announced it would mobilize 16.1 billion USD by 2020 to help Africa fight climate change. The Bretton Woods institution plans to provide $5.7 billion via International Development Association, its fund which is dedicated to supporting poor countries. The remaining part of the financing is to be raised by development institutions, the country and private partners....

PlaYce, the official brand of shopping centers operated by international distribution group CFAO in Africa was launched today in Abidjan (Côte d’Ivoire). The first PlaYce shopping center, which boasts a total surface area of 20,000 square meters, will open in Abidjan’s Marcory district in December 2015. The PlaYce Marcory shopping center will be the first of several dozen centers operated...

Guinea just launched its marketing season for cotton. According to authorities, the operation for which projected output is 11,400 tons will cost government about 39 billion of Guinean Francs. With this campaign, the executive intends to strengthen the ongoing programme for the revival of cotton industry. Indeed, the country plans to help about 300,000 cotton-depending rural households from the...

Mauritania just commissioned a wind power plant which has a production capacity of 30 MW. Comprised of 15 wind turbines based in Nouakchott, it cost about $51 million. This power plant will help Mauritania meet 13.6% of its power needs. “With this new wind field, Mauritania now has a new source for the production of a clean, safe and economically viable,” said Mauritania’s Minister...

This season could be an exceptional one for Madagascar in terms of lychees exports. Truly, the island plans to export between 20,000 to 22,000 tons of this fruit at the end of the 2015-2016 season against 17,500 tons only for the previous season. “Due to favorable weather conditions, harvesting of lychees this year is excellent, both in terms of quality and quantity,” Thierry Samtio,...

A funding agreement valued at €85 million was just signed by European Investment Bank (EIB) for the interconnection of power networks in West Africa. The funding is to go to the Organization for Valorization of Gambia River (OMVG) so as to connect Senegal and Guinea which will respectively obtain 20 and 65 million euros. The interconnection project will extend over 925 Km and once...

Commercial Bank of Africa (CBA) and Agence Française de Développement (AFD) have signed a €10 million (Sh1.08 billion) funding agreement for renewable energy projects in Kenya. This money is to be loaned to businesses, interested in investing in renewable energy technologies which includes small hydro, biomass, biogas, solar, geothermal and energy efficiency measures. The loan is part...

Sasol on Wednesday announced that its empowerment unit, Sasol Inzalo Public, has been granted permission to be listed on the Johannesburg Stock Exchange (JSE)’s main board. The company was given the go ahead on Tuesday after all the required approvals were received. According to IOL news, its shares on the JSE were...

Engen’s efficiency in delivering reliable service in Swaziland has been compensated as the Swaziland Railways names the company “Supplier of the Year”. This prize was presented to the company at the Royal Villas at e Zulwini on November 4, 2015. It was received by two of Engen’s team members; Banele Cindzi and Thandeka Nkomo who were proud to...

Penspen has been awarded a contract by Sirius Group to carry out an engineering study for the monetization of gas reserves from oil fields, offshore Niger Delta. The aim of the agreement is to develop the gas reserves of the OML-122 field, in the Niger Delta region, 40 km from the shoreline, South of Nigeria. The study is part of Project Dawn. It is a three-year...