The West African Development Bank (BOAD) will disburse around $198.6 million to support member countries within the West African Economic and Monetary Union (WAEMU). According to Xinhua which reported the news June 28, this financing will be broken into 7 long and mid-term loans estimated at $161.2 million, an $8.8 million short term loan, a refinancing line of $17.7 million...

SEMAFO announced June 28 it has produced its first gold bullion of about 325 oz at its Boungou gold project in Burkina Faso. This move follows the construction and commissioning of the processing plant. “The first gold pour at Boungou marks an important milestone in SEMAFO’s growth trajectory as it signals the beginning of a significant increase in production and cash flow,” said CEO...

By 2023, the number of subscribers on Subscription Video-On-Demand (SVOD) across sub-Saharan Africa will reach 9.99 million, up from the current 1.56 million. This was revealed in the “Sub-Saharan Africa OTT TV & Video Forecasts” report by Digital TV Research, a TV market data analyzer. South Africa is set to be the market leader with about 3.37 million subscribers, followed by Nigeria...

Operation at AngloGold Ashanti’s gold mine in Guinea were disrupted by two days of violent power cut protests at Siguiri. Over a thousand protesters surrounded the mine yesterday June 27. “We are negotiating with them to calm the situation,” Ibrahima Kalil Keita, the region's state administrator, told Reuters. Currently, Guinea is going through a rolling blackout period that fuels popular...

The African Development Bank (AfDB) approved $98.2 million in financing to Senegal to upgrade road network, an institution statement said June 27. The money will be pumped into a project aiming at redeveloping the 172-km Sénoba-Ziguinchor-M'pack road axis and opening up the South region. It will also serve to rehabilitate/build nearly 165 km of departmental, rural access and urban...

The Ivorian government adopted a decree whereby the share capital of the public bank Versus will be increased to CFA14.58 billion through the issue of 267,233 new shares. This was announced yesterday June 27 during a Ministers’ Council with the president Alassane Ouattara. According to the government, the shares will be transferred to the Retirement Funds of State Officials “Caisse...

Lucara Diamond issued, this week, an updated resources estimate for its Karowe diamond mine in Botswana. Results revealed that the remaining indicated mineral resource at the mine’s AK06 kimberlite includes 7.9 million carats, thus 57.85 million tons at 13.7 carats per hundred tons.  Moreover, indicated resources at the South Lobe increased by 54% to 6.78 million carats, resulting from the...

During the 2017-18 season, the Egyptian government purchased a total of 3.15 million tons of wheat from local farmers. The information was announced June 27 by Supply Minister Ali Moselhy (photo), relayed by Reuters. This volume is slightly below the stock last year (3.6 million tons) and down from previous forecast of 3.5-4 million tons.  In fact, private sector mills offered higher prices...

Four employees who have been working with Airtel since its establishment 20 years ago this year, have been rewarded for their long years of devoted and loyal service to the telecommunication company. This was during a short ceremony on Thursday afternoon at Airtel’s head office at Providence during which, as has been customary every year, Airtel also rewarded its best employee. This year the...

Uganda will benefit from a financing worth $25 million provided by the European Union (EU) to rehabilitate the national rail network, Bloomberg reported June 26. This new investment mainly targets the 375 km railway linking the cities of Tororo (East) and Gulu (North). This railway line had been deteriorated over the years, following the abuses from the infamous LRA (Lord's Resistance Army)...