Senegal’s civil society partnered with the national anti-graft committee (OFNAC) to organize an awareness session on fraud and corruption as well as wealth declaration, in Matam region (North-East). Speaking during the workshop, Marième Samb, head of asset declaration division at OFNAC said: “we are here to talk about fraud and corruption with the population. As well, we will receive...

The Kenyan government gave the green light to India-based Maharashtra Hybrid Seeds (Mahyco) to import genetically modified cotton seeds, Business Daily Africa reported. This permit would lead the government to lift ban on importation of genetically modified crops, set in November 2012. The company will supply the seeds to local famers on behalf of Monsanto, newly acquired by German agrochemicals...

The African Development Bank (AfDB) approved July 11 an additional $10 million in financing to the African Guarantee Fund (AGF) for small and medium-sized enterprises (SMEs) across Africa. This support will enable the Fund to continue guaranteeing loans, especially to SMES active in renewable energy, housing, health, education, finance, trade and agriculture. To date, more than 8,600 SMEs...

In Sub-Saharan Africa, Côte d'Ivoire was the most active country on the bond market during the first half of 2018. Overall, bond issuances from WAEMU’s economy driver reached $6.27 billion. This figure is far above South Africa’s major issuances which stood at about $4.69 billion, ahead of Angola ($3 billion) and Nigeria ($2.5 billion), ranked third and fourth, respectively. Over...

Trade and Development Bank (TDB) will approve $660 million in financing to Tanzania to boost economic growth, The Exchange revealed June 12. According to information relayed, the financing is timely as the country plans to attract the most of investment required to fund its budget by lifting key sectors. In Tanzania, agriculture employs over 60% of the working population. The sector would...

Houston-based private equity firm Denham Capital, specializing in mining, gas and energy sectors, announced it closed a mining fund worth $558 million that will be deployed on several markets including Africa. The fund targets operable or close-to-be exploitable projects. “The close of our first mining fund marks a significant and strategic milestone for Denham Capital. We are...

Kenya’s coffee trader Java House, owned by the Dubai-based private equity firm Abraaj, plans to increase the number of sale points to about 200 from 60 currently, over the next 4 years, CEO Paul Smith told Bloomberg. The move aligns with the company’s desire to expand brand through acquisitions and the opening of new outlets directly operated by the company or franchised. Currently Java...

Moroccan high commission for economy planning (HCP) forecasts growth to stand at 3.1% for the current year and 2.9% in 2019. Ahmed Lahlimi Alami (photo), head of the organization, said during a press conference held on July 10 that the agricultural sector should “improve in 2018, despite the delay in rainfall at the beginning of the 2017-2018 season”. He reported that cereal output is...

During the first half of 2018, Tunisia received around 3.2 million tourists, 26% higher than the same period last year, the tourism ministry revealed July 11. This figure set a new record compared to the 2.9 million in H1 2010 (the reference year), reflecting the sector’s upswing following bad years related to security and political instability after the 2011 revolution. In terms of...

The Société Générale Côte d'Ivoire's (SGBCI) shares ended July 11, increasing by 6.84% to CFA12,500. Although this performance is below the record levels reached since the beginning of the year, it is the most important completed in a single session over the period. Moreover, the volume of traded securities reached 7,698. This is not the largest trading volume on this stock, but it is...