This week, Randgold Resources announced the resumption of its activities at Tongon gold mine in Côte d’Ivoire following the lifting of a lock-out imposed on the workers after a long illegal strike. According to a statement published by the company, the management, workers, community leaders, and the government reached an agreement under which, the workers will be “re-employed in phases...

It is time African accounting and finance experts contribute to the fight against corruption. This was the key point of the speech delivered by Senegal’s minister in charge of budget Birima Mangara (photo) during the 8th African Accounting and Finance Conference (September 5-7, 2018).  “As accounting and finance experts, you know the motives and consequences of corruption and, you...

Tidjane Thiam, Credit Suisse’s managing director confirms to Le Temps  that he is not planning to go into politics in Côte d’Ivoire. Much requested by his fellow citizens who would like to see him become the next president of the country, Tidjane Thiam says he is “moved and honored”. However, “for years now, I have repeated my resolution not to get involved in politics”, he...

The Canadian mining company SEMAFO, announced that last week, Boungou mine, in Burkina Faso, achieved commercial production. This was achieved on September 1, 2018, when the operations reached 30 consecutive days of commercial production at 75% of the mine’s nominal capacity (4,000 tons daily).   During the 30 days, the company processed more than 90,000 tons of ore with an average of...

 “Several signs indicate that Africa could be the next playing field for Russia’s information war”, a paper co-signed by the French ministry of foreign affairs and the Institute for Strategic Research at the Military School (IRSEM) indicates. The paper warns of the “growing proportion of Russian contents within the Francophone African web space” via Sputnik and RT (Russia Today)...

28% of Twitter users in Africa think that African countries are right to levy taxes on social media use to finance the development of their telecommunications infrastructure. This is the result of a survey realized by Ecofin Agency on Twitter on August 29, 2018. Out of the 500 respondents, 52% think that these taxes are not justified. 20% of those respondents said they are not concerned by the...

Algeria’s trade deficit stood at $3.252 billion by end July 2018, against $6.992 billion a year earlier, a 53.5% decrease, customs authorities reveal. Indeed, during the period under review, the country’s imports dropped slightly by 1.06% to stand at $26.908 billion while a year earlier, it was $27.197 billion. As for exports, they rose by 17.08% on a year-to-year basis...

Remittances from Egypt’s diaspora reached a record $26.5 billion during the 2017-2018 fiscal year, the country’s central bank reveals. This represents an increase of $4.6 billion (+21.1%) compared to the volume during the previous fiscal year which stood at $21.9 billion. These remittances are a blessing for Egypt because, as the central bank explained, they are one of the...

By end-July 2018, the flow of Foreign direct investments in Morocco registered a drop of 25.5% to stand at MAD12.67 billion (about $1.34 billion) against MAD16.93 billion ($1.8 billion) a year earlier, Morocco’s foreign exchange office reveals. The office also indicates that the revenue of Moroccans living abroad increased by 5.4% to more than MAD37.65 billion (about $4 billion)...

Endeavour Mining agreed to sell Tabakoto, its gold mine in Mali to Algom Resources, a subsidiary of BCM Investments, for $60 million. This amount will be paid in cash once the deal is sealed around Q4, 2018. According to Sébastien de Montessus, Endeavour’s MD, the sale of this non-core asset will improve the company portfolio’s overall health and let it concentrate on durable high...