Kenya Electricity Generating Company (KenGen) plans to raise KSh5.7 billion ($56 million) from its partners to build the very first solar plant in the country. The company said it was seeking the funds from the World Bank, French Development Agency (AFD) and KfW of Germany. The 45 MW plant will be set in Embu region. Construction will last 14 months. “We finished feasibility studies for the...

Kenya Commercial Bank (KCB) recently launched a new credit granting scheme called “MobiGrow” to ensure a better access to financing for Kenyan and Rwandan farmers. The service also provides for agricultural training and technical advices. Through this program, the bank is targeting 2 million smallholders in Kenya and Rwanda over the next 5 years. In the meantime, MobiGrow trains 200,000...

Between April and June this year, Nigerian startups raised a total of $73.6 million, up 800% from the $9.2 million a quarter earlier. According to the latest techpoint.ng report, the amount was mobilized from 30 local and foreign investment firms by 41 startups. Main beneficiaries include companies that provide financial services (12), agritechs (7), startups active in governance (4)...

SRG Graphite published July 6 results of the preliminary economic assessment (PEA) for its graphite project Lola, in Guinea. The study was conducted by Met-Chem. According to results, the development of this project could generate more than $60 million annually, taking into account graphite price volatility. On a $1,328 per ton basis, annual revenues are expected to amount...

Mali’s government signed a partnership agreement with the International Fund for Agricultural Development (IFAD) to execute the agricultural inclusive financial services project (INCLUSIF). The document was initialed July 6 by the Malian finance minister Boubou Cissé and Gilbert Houngbo, head of IFAD. The project estimated at $105.5 million is set to run over the 2018-24 period. Under...

Canadian Orezone Gold published this week results of an updated independent Feasibility Study for its Bomboré gold mine in Burkina Faso. The study revealed that the project would generate a total of 1,024,239 oz of gold over a 13-year lifespan, with an average annual production of 102,613 over the first 7 years. Initial project construction cost is estimated at $143.7 million and...

Tunisia’s fruit exports increased by 51% in value to TND42.4 million ($16.2 million) between January 2 and July 3, the Ministry of Agriculture, Water Resources and Fisheries revealed. This increase in revenue was driven by higher export volume which reached 13,990 tons over the period reviewed, 19.2% more than the previous marketing year. Apricot was the most sold fruit with shipments...

Between December 2017 and May this year, the loan portfolio granted by Misr Bank to SMEs grew by 31% to EGP10 billion ($558.3 million) from EGP8 billion ($446.7 million). According to the Vice President Akef El Maghraby (photo) relayed by local media, 70,000 SMEs will benefit from the resources. The outstanding loan will reach EGP25 billion by the end of the 2018-19 financial year and EGP45...

ASX-listed Tiger Resources announced last weekend it cancelled the transaction concluded with the Chinese group Sinomine HK whereby it would have sold its copper-cobalt assets in DR Congo for $260 million. The sale agreement targeted Kipoi and Lupoto projects as well as La Patience permit. The company indicated that Sinomine failed to reach acceptable terms, despite an extension of the...

By 2020, Senegal River Valley (VFS) would produce up to 875,000 tons of rice, up from 455,000 tons currently. This was revealed by Amadou Thiam, head of development and support to local authorities at the national authority for Delta land operation and development (SAED). According to APS which reported the news, Senegal initiated various measures to hit target, including the improvement in...