Benin Terminal, the operator of the Port de Cotonou container terminal, took delivery of two new gantries on 20 September 2020. The new equipment will serve to improve the productivity of Benin Terminal, boost the country’s competitiveness and bolster trade in West Africa. With a lifting capacity of 40 tonnes each, the ultra-modern gantries will improve container storage capacity at the...

The government of Mozambique has asked the European Union for help in fighting against an Islamist insurgency in the north of the country. Mozambique asked that the local army be trained by European forces and that medical and humanitarian assistance be granted to the victims of conflicts. Since 2017, the province of Cabo Delgado has been the scene of violent exactions by Islamist groups...

The President of the African Union, South African Cyril Ramaphosa (pictured), restated on September 22 the call for greater representation of African countries on the United Nations Security Council. Delivering a pre-recorded message to the virtual session of the 75th UN General Assembly, Ramaphosa said Pretoria is still campaigning for the inclusion of several African countries as permanent...

In Kenya, the excess liquidity accumulated by commercial banks above the regulatory standard is declining. Central Bank data indicate that during the week of September 14-18, excess bank reserves declined by 25.1 billion shillings from the previous week's level. Kenyan analysts quoted by local media explain this situation to be the result of the resumption of business activity as the Kenyan...

The Ivorian President Alassane Ouattara yesterday launched construction works for two new cocoa processing units in Abidjan and San Pedro. Each unit has an annual capacity of 50,000 tons of beans. The construction is entrusted to the Chinese group China Light Industry Design Engineering (CNDC) and is expected to last 24 months. According to official data, China is expected to absorb 40% of the...

The African Development Bank today held a workshop to convey the continent’s immense investment and partnership opportunities to Asian business leaders, particularly as the continent seems poised to return to economic growth in 2021 following the impact of the COVID-19 pandemic. The two-hour virtual event, held in English, Korean, and Chinese, offered participants an opportunity to learn more...

Godwin Emefiele (pictured), governor of the Central Bank of Nigeria (CBN), announced on September 22 that the bank has lowered its key interest rate from 12.5 to 11.5%. By stimulating credit, the CBN's Monetary Policy Committee (MPC) hopes to face a recession that has been threatening the country since the beginning of the coronavirus pandemic. According to officials, this action will provide...

Benin and Burkina Faso will set up a framework agreement for cross-border cooperation. Delegations from the two countries took part this week in a workshop for the bilateral validation of a convention to coordinate the management of their common border. According to the Beninese authorities, the new agreement aims to strengthen ties between the border populations. It will also provide a legal...

Egypt’s incumbent telecom operator -Telecom Egypt- announced on September 21 it has submitted a financial and technical offer to the regulator to acquire an additional frequency spectrum. The telecom resource which is in the 2600 MHz band, using TDD (time division duplex) technology, will enable the company to improve the quality of its service and increase its dependence on its network on the...

AngloGold Ashanti, a gold operator present in several countries in Africa, plans to raise $700 million through bond issuance on the international capital market, we leaned. The group plans to use the money to repay a portion of the outstanding borrowings under its $1.4 billion revolving credit facility (RCF), which matures in October 2023. This facility was fully drawn in March 2020 to...