World Bank will grant a $15 million loan to Guinea-Bissau, Amadou Oumar Ba, the bank’s resident representative, announced on Wednesday 15, August 2018.   According to information published by Macauhub, this loan would help pave many rural roads in a country where most of the roads date back to colonial times. The North and the East should be the main beneficiaries of this...

The European Bank for Reconstruction and Development (EBRD) provides $44 million to support the activities of the Egyptian company Beyti, specialized in the production of juice, milk products, and yogurt. This company established in 1998 and owned at 52% by Almarai Company, one of the leading food producers in the Middle East and North Africa, will use the money to fund new investments and...

In a statement published on August 15, 2018, the Moroccan company Wafa Assurance informed that its H1, 2018 net result could drop by 25%.   This subsidiary of Attijariwafa Bank which owns about 20.7 % of the Moroccan insurance market indicated that this counter-performance is due to a rise by MAD240 million of net claims (the amount it should refund). These net claims were boosted by...

MC Mining which operates Uitkomst coal mine announces that on Thursday 16, August 2018, it was granted a R15 million loan by ABSA Bank, one of the main financial service providers in South Africa. The mining company plans to use these funds to buy new equipment. It has become the coal mine’s owner and operator.  “The Absa loan reflects the growing confidence financial institutions have...

MTN Uganda, whose license will expire in October 2018, should list its capital locally. This is one of the requirements set by the Ugandan government before the 10 year license renewal. With this requirement, the government wants to provide local investors an opportunity to take advantage of the telecommunication company’s demonstrated financial dynamism and growth prospects in the coming years...

Kenya Commercial Bank (KCB), the largest bank in Kenya is planning to finalize the acquisition of Imperial Bank, a bankrupted financial institution put under trusteeship in 2015, in September 2018. “The central bank has said they are okay for us to proceed and finalize it. We expect that to be finalized by the end of September”, Joshua Oigara, chief executive officer of KCB, declared. The...

The Liberian National Housing Authority NHA has initiated discussions with GELPAZ IMMO S.A, a Burkinabe real estate company, which plans to build 50,000 houses in the country. In that regard, a delegation of GELPAZ IMMO S.A, led by the CEO Alain Z. Zoungrana, came to the country on August 12, 2018, to conclude the agreement with Liberia via the housing authority. During a press conference on...

Mali increased to 20% its participation in Fekola SA, a subsidiary of B2Gold which owns the Fekola gold mine. Indeed, this week, the mining company indicated that the ministers' council approved the purchase of an additional 10% shares in Fekola SA. Let’s remind that the government already owns 10% bonus shares. By exerting this option conferred to it under the mining agreement with Fekola,...

Tunisie Valeurs, a financial institution specialized in asset management, will sell 704,572 shares, representing 35.23% of its equity, during its Initial Public Offering (IPO) on Tunis stock exchange.   Let’s note that Conseil du marché financier (CMF) the council regulating this market in the country has already approved the offering. Tunisie Valeurs which has been in operation for...

The progressive withdrawal of thermal energy from the Kenyan energy mix will reduce costs for domestic as well as industrial clients. This is the conclusion of a task force set by the energy ministry to determine the different energy sources to be used. Charles Keter (photo), the energy minister then announced an initiative aimed at satisfying most of the national energy demand through renewable...