In South Africa, analysts from investment firm Anchor Capital encourage investors to buy shares in BHP Group, a company specialized in the exploitation and sale of mining raw materials. In a note, Anchor explained that the BHP Group’s shares are currently trading at eight times its net profit, which seems fair for a company that is the least expensive iron ore producer on the Johannesburg...

In Algeria, the mobile operators Djezzy, Mobilis, and Ooredoo will benefit from additional telecom spectrums to fix the network disruptions observed over the past 7 days. The decision was taken on August 25, 2020, during a meeting between the Minister of Post and Telecommunications, Brahim Boumzar, and senior executives of telecom companies present in the country. The meeting follows an order by...

The Tunisian minister of education, Mohammed Hamdi, signed yesterday with Mohamed Fadhel Kraiem, the minister of communication technologies and digital transformation, an MoU to deploy high-speed connectivity in schools across the country. The deal, which also includes the rehabilitation of the educational network, aims to meet the Ministry of Education’s vision to digitalize and develop its...

Good morning and welcome to the 2020 Annual Meetings of the African Development Bank. The family of the African Development Bank has grown from 80 countries to 81 countries. Please join me in welcoming our newest member of the family, the Republic of Ireland, who are joining us formally for the first time at the Annual Meetings. I would like to express my deep appreciation to you Your...

South Sudan is seeking a $250 million loan from Afreximbank to finance its response plan against the coronavirus pandemic. The information was reported on August 24 by Lily Albino Akol (pictured), the Deputy Minister of agriculture and food security. The new resources will, according to her, help close the deficit in the country’s revenues. Part of the money will also fund the...

South African insurer Old Mutual announced it is expecting to experience losses over the first six months of the year. In a statement to shareholders, the company said it has forecasted a net loss of between R1.29 and R1.54 per share. During the same period last year, the loss was a bit lower amounting to R1.27 per share. Before more details are given in the performance report to be issued on...

Rwanda is about to hit a new milestone with the entry into operation of Apex Biotech, its first pharmaceutical plant. Initially announced for April, the launching of activities was postponed due to the coronavirus pandemic. The announcement comes in a timely fashion since the pandemic has highlighted the need for Rwanda to reduce its dependence on the outside world for pharmaceutical products....

The World Health Organization will later on today certify the total eradication of poliomyelitis in Africa. This means the continent is free of the disease, four years after the last cases recorded in Borno State, Nigeria. Indeed, the unsafe environment in Northeastern Nigeria due to Boko Haram had made it difficult to carry out vaccination campaigns against wild polio. Also, Islamic extremists...

South African mobile operator Cell C plans to tighten its restructuring plan to better cope with the financial pressure. The company -which has been engaged since June 2020 in a workforce reduction plan targeting 960 employees, including junior managers and semi-skilled staff- plans to shed another 546 employees through the closure of 128 stores across the country. The target objective is still...

The International Finance Corporation (IFC) approved a $4 million loan to International Medical Group (IMG), the Ugandan subsidiary of Ciel Healthcare, a Mauritius-based company that specializes in healthcare center management. The Ugandan hospital will also receive $2.5 million from Proparco, Kibo Capital and Ciel Limited, and other shareholders of its parent company. The resource...