The International Finance Corporation (IFC), the investment arm of the World Bank, will vote in mid-October on the approval of a USD 300 million investment in a gold mine in the Tasiast region of Mauritania. The investment decision – which is the first ever IFC project in Mauritania  - comes less than a month after President Mohamed Ould Ghazouani took over as president from his...

Mobile operator Vodacom says it is planning to turn off its 2G network. Chief Technology Officer, Andries Delport, said during a media conference that the company would not be able to switch off its 2G network entirely, as it is still used for some applications.  However, the telecom company wishes to deactivate the 2G consumer voice segment to devote this frequency spectrum to improve its...

Egyptian company Global Telecom Holding (GTH) has agreed to sell the remaining shares it holds in Djezzy (Algerian mobile phone operator), including the MedCable submarine fiber optics system, to the Dutch telecoms group VEON Ltd. The operation, which is valued at 70.195 billion Algerian dinars is part of a larger-scale procedure. Since the end of June 2019, VEON Ltd has been seeking to acquire...

Qatar will build a new port in Somalia, in the port city of Hobyo, Maryan Aweis Jama, Somali Minister of Airports and Jassim Saif Ahmed Al Sulaiti, Qatari Minister of Transport, announced this week in a press conference in Mogadishu, the Somali capital. According to the officials, construction of the new infrastructure is expected to begin soon and be carried out “in accordance with...

The governor of the Central Bank of Nigeria, Godwin Emefiele (pictured) called on local fund managers in the UK to invest in naira-denominated bonds. The initiative could help strengthen the situation of the country's foreign exchange reserves, which are suffering from a further increase of the US dollar against the local currency. Officially, the Central Bank gives 306 naira for one dollar. But...

The Chadian government wants to recruit 20,000 youth into the public administration next year, President Idriss Déby Itno announced August 16. Opportunities are given in all sectors.The President said a first wave of youth will be recruited by the end of this year. A good news for the Chadian young population, years after recruitments were suspended due to the economic crisis.Although the...

The Angolan arm of KPMG, the international network of audit and consulting firms, has been selected by the inter-ministerial working group for the award of the 4th telecoms license to evaluate all stages of the process as well as the proposed bids. In addition to providing expert advice on the evaluation and review of all supporting documents for the tender, as well as on the evaluation of...

The World Food Program appealed to the international community to raise $35.3 million to assist food insecure people in Burkina Faso. The call was launched last week during the visit of WFP’s Executive Director, David Beasley (pictured), to the country. According to the Director, this “unprecedented” crisis is the result of a dire June-September hunger gap that affected about 700,000...

The Chadian government just ordered the closure of border with Sudan and declares a state of emergency. Information was announced Sunday by Head of State Idriss Déby Itno (pictured). This measure followed inter-community clashes, between breeders and farmers, which killed about 109 people in the past weeks. The “disastrous” situation is due to entry of guns from neighboring Sudan into the...

Nigerian real estate company LandWey just took over 25% interest in the capital of Vistafront, an online platform for funding real estate projects. The amount of this operation is not disclosed.“We are glad that with this partnership, we can fully support and encourage everyone to fund real estate projects,” said Olawale Ayilara, founder of LandWey. With support from assets manager Natchwey,...