The transitional government of Mali, established last month, says it will review all mining agreements concluded under precedent regimes. This follows recommendations recently made by the Auditor General Samba Alhamdou Baby to the Interim President Bah N’Daw. “The agreements include clauses which do not always guarantee the protection of the interests of the state [...] In particular the...

Jaiz Bank, the only publicly traded Islamic bank in Nigeria, seeks the equivalent of $8.3 million (3.3 billion naira) through a private share placement, we learned. The company is in the process of placing 5 billion and 77 thousand new shares worth between 0.5 and 0.65 naira each to strengthen its capital. This operation is being carried out amid the challenges the institution is facing...

Companies on the Abidjan-based regional stock exchange BRVM are struggling to comply with the International Financial Reporting Standard (IFRS), which specifies how companies must maintain and report their accounts. For FY2019, only seven companies (Ecobank Transnational Incorporated, Boloré Africa Logistics CI, Bernabe CI, ONATEL, SONATEL, SODECI, and Oragroup) fully respected this regulation...

South African consumer goods giant Tiger Brands has completed the sale of three of its meat processing businesses to Silver Blade Abattoir, a subsidiary of Country Bird Holdings. The sale agreement will formally come into effect on November 1. Tiger Brands said the operation is aimed at selling assets that have become non-core and unprofitable. Also, the listeriosis outbreak in 2017 in South...

In about two weeks, the Ethiopian Communications Authority (ECA) will unveil the names of the two companies that will compete with Ethio Telecom in the national telecom market. As a prelude to this liberalization launched in 2019, the regulator is preparing many tools that will help provide a quality telecom service to the population. ECA has submitted a draft of four strategic documents to the...

The South African government says it will create over 66,000 jobs through the implementation of new infrastructure projects. The focus projects were presented yesterday, October 29, by the Minister of Infrastructure Patricia De Lille (pictured) during a press briefing. She said 52,000 are expected to be created through the urban management program, which targets all 44 districts of the country....

The International Monetary Fund (IFC) approved the disbursement of $30 million in favor of Kenyan company Twiga Foods, under its Global SME finance facility. The resources are granted in the form of a guarantee and will be provided through Kenyan commercial banks, and partners of the financial institution dedicated to the private sector. The Kenya Commercial Bank will lead this first...

Congolese businessman Sindika Dokolo (pictured), the husband of Angolan Isabel dos Santos, died in a diving accident in Dubai yesterday. The bad news was reported a few hours ago by sources close to his family. Son of Augustin Dokolo, the first private banker in ex-Zaire, 48-year-old Sindika was the main opposition figure in his country. He has recently been, alongside his wife, the center of...

Yesterday, the Senegalese President Macky Sall (pictured) dissolved the government and dismissed several officials. “The President of the Republic has signed four decrees, including the Decree 2020-2073 of October 28, ending the functions of ministers and secretaries of state, members of the government,” an official release indicated. Composed of 32 members, this government was put in place...

The Qatari telecom group Ooredoo published its financial results for the first nine months of 2020. In Africa, the telecom company generated total revenue of 2.8 billion Qatari riyals ($769 million) resulting from lower revenues in Algeria and slightly higher in Tunisia. In Algeria, Ooredoo - which deplores difficult market conditions characterized by strong price competition, a softened...