Senegal started this Friday 30 October, its public offering in order to raise FCFA 50 billion on the UEMOA financial market. "In 2015, after a series of operations in the financial market, the State of Senegal wants to close the year with a fundraising on the BRVM (Bourse Régionale des Valeurs Mobilères)", one reads in the information note on the operation. Investors interested by this offer,...

In Burkina Faso, Karim Traoré (photo) is currently off to prison. The president of the National Union of Cotton Producers (UNPCB) is currently held at the central prison of Bobo-Dioulasso. According to APA who revealed this information, his arrest appears to be linked to his management of the cotton sector. The median indicates that he has been criticised by some members of the Union who...

In Côte d’Ivoire, Alassane Ouattara has just announced his intention to raise the share of his country in the world production of cocoa to 50%. “I hope that we will be able to go beyond 50% of the world production in 2020 while continuing to improve the quality of our cocoa”, the president indicated after his re-election. According to the leader, the country which is already supplying 45%...

Predictive Discovery Ltd, gold mining company listed on ASX, reached an agreement with an Ivorian company through which it would bring or arrange a financing and manage the operation in two mining permit areas in Côte d’Ivoire. This concerns operations, it reported on 28 October, in an area which already has its permit and a second area in the north of the country which Wendene permit,...

The State minister, minister of Foreign Affairs and International Cooperation, Ramtane Lamamra, revealed a little about the preoccupation of Algeria on the current oil prices, answering the media Monday at the end of his meeting with French president François Hollande. According to APS, Mr Lamamra appears optimistic about the “clean-up” of the oil market and revealed that his country is...

Bass Metals Ltd, gold and base metals mining company, secured, it announced on 26 October, USD 535,000 from investors and other partners as part of its financing search for the company Graphmada, active on the graphite sector in Madagascar. The company listed on ASX added that it has concurrently started a process to enable it secure additional funds to complete the first investment phase in...

During the press conference organised on 28 October 2015 in the ministry, Imane Houda Feraoun (photo), Algerian Minister of Posts and Information and Communication Technology, announced the start of the optic fibre interconnection works from Algeria to Spain for this month of November 2015. Two sections will be worked on: Oran-Valencia and Algiers-Valencia. The project which dates back to 2009,...

French Global EcoPower (GEP) has backed out from the Nova Power acquisition. GEP had started, in February, the buyout process, under condition precedent, for the young Moroccan solar plant development company which operates in Morocco, West Africa and Middle East. These conditions not being exercised within the deadline is the main reason for abandoning the operation started by the French...

During the first half of 2015 ending 30 June 2015, the outstanding balance on loans and customer deposits for the Côte d’Ivoire subsidiary of Société Générale group improved respectively by 31.3% at FCfa 453.3 billion and 16.2% at FCfa 748.14 billion. Personal and corporate credits increased, the financial company explained. In these conditions, its Net Banking Income increased by 19.3%...

Orca Exploration Group Inc. has been granted a loan to finance part of its offshore development project, in Tanzania. The company entered into the $60 million loan agreement with the International Finance Corporation (IFC), a member of the World Bank Group. “The conclusion of the IFC financing is a significant achievement for Orca and an important endorsement of the Company’s...