As a fulfilment of President Patrice Talon’s promise during election campaign, the review of Benin’s constitution is about to be reached. Initially rejected, the draft on constitution review was validated by the National Assembly but failed to obtain the qualified majority required for a direct vote. As a result, the draft will therefore be subjected to a referendum. “The principle of the...

The International Finance Corporation and the global agriculture and food security program will jointly grant a $4 million loan to UK’s Global Tea & Commodities to expand activities in Malawi. The money will be used to deploy renewable energy solutions to boost tea and macadamia production and support nearly 3,300 local farmers. Global Tea which produces tea, coffee and macadamia nuts...

The International Monetary Fund (IMF) committed $250 million in financing to Tunisia, an institution statement revealed July 6. According to Reuters which relayed the news, this credit line is the fourth granted by the institution under a $2.9 billion 4-year credit program. The latter is expected to help the North African country implement economic reforms to keep budget deficit in...

The local subsidiary of banking group United Bank for Africa (UBA) in DR Congo showcased a new virtual banking service called “Leo”. According to Marcel Bitang, Chairman of UBA-DRC, the offer is designed for online advisory and includes a contact interacting with customers via Facebook Messenger. It is expected to assist them carry out banking operations such as account opening, account...

On July 5, the President of the Republic of Mali Ibrahim Boubacar Keita granted a first batch of 13,000 digital tablets to University students. This was during a ceremony organized by the Universal Access Fund Management Agency (AGEFAU). The move is part of the “Doniya, one student, one tablet” project announced by the president in June 2016 at the summit of Francophone ministers of...

The Zambian government plans to make the country a major palm oil exporter, Xinhua reports. According to a government statement, there is a huge potential for oil palm that remains to be exploited in the Southern African Development Community (SADC), especially in DR Congo and Angola which are massive importers of the commodity.   Moreover, the government said the country could collect...

Royal Bafokeng Platinum (RBPlat) announced June 5 it has reached an agreement with Anglo American Platinum to acquire the remaining 33% interest it does not own yet in the Bafokeng Rasimone platinum mine in South Africa. This acquisition, estimated at R1.8 billion, will see JSE-listed RBPlat become the only owner of the project. The company intends to pay a part of the purchase price by selling...

General Electric (GE) announced its intention to collaborate with Nigeria’s power utility Niger Delta Power Holding Company (NDPHC) on the development of an integrated plan to improve power supply in the country. This followed the signing of a MoU between both parties this week. The project aimed at making operational the grid’s under-utilized or non-used capacity, focusing on the entire...

Ukrainian grain trader Nibulon announced it will invest $2 billion in Egypt to develop seeds’ storage and conservation infrastructure. “This is a long-term investment program […] it is designed for 7-10 years,”, said CEO Oleksiy Vadaturskyy in an announcement.  A first tranche of $200 million will be invested between 2018 and 2019. Moreover, a local subsidiary will be set...

  Energy self-sufficient Algeria plans to export 400 MW of electricity surplus to Tunisia, the Algerian energy minister Mustapha Guitouni (photo) said. “The electricity export is part of President Bouteflika's power surplus export program, after achieving energy self-sufficiency,” the Minister said. In Tunisia, demand in energy increases, especially in summer, with peak demand expected...