A poll of multilateral donors have approved $1.57 billion in financing to the Transmission Company of Nigeria (TCN) to expand transmission grid capacity to 20,000 MW over the next four years, Usman Gur Mohammed, TCN's MD, said. Funds were mobilized from World Bank, African Development Bank, Japan International Cooperation Agency and French Development Agency. According to the manager, the...

The Moroccan subsidiary of French group Danone, Centrale Danone, lost 50% of its share on fresh milk market due to consumer boycott. The information relayed by Reuters, was announced by Danone’s CEO Emmanuel Faber (photo). The boycott campaign which kicked off last April 20 on social media also affects the Sidi Ali water brand and the Afriquia fuel stations. Campaigners accused targeted...

Rwanda signed a memorandum of understanding with Rosatom, the Russian nuclear company, on the peaceful use of nuclear energy. This agreement, the first of this kind between the two countries, will allow to set legal foundations for nuclear bilateral cooperation. The latter will include the development of nuclear infrastructure in the African country, but also the establishment of public...

The Ivorian High Authority for Audiovisual (HACA) confirms it has authorized the French group Free to launch a pay-TV service. The information previously announced by the country’s media, was confirmed in a statement published on HACA’s website. Not only has the regulator granted a license to Free Afrique S.A, but it also did so to SAT Ivoire and TNT SAT Africa Côte d'Ivoire. It pointed out...

MC Mining (formerly known as Coal of Africa Ltd) has received a R20 million loan from Rand Merchant Bank (RMB), a division of FirstRand Bank, for its Uitkomst coal project in South Africa. It reported that the 12-month loan is subject to a variable interest rate. “The company acquired its stake in Uitkomst in June 2017 and it has proven to be a highly profitable operation, with strong...

Tanzania signed an agreement with China’s Kanton Investment Company, whereby the company will set a cassava processing plant in Handeni district (Tanga Region). According to the Tanzanian Investment Centre (TIC), the $10 million facility will daily handle 200 tons of cassava, Daily News reports. CEO John Rwehumbiza pointed out that the project also aims to build grower’s capacity...

Abundant rain in Côte d’Ivoire last week are expected to boost yield during the 2017-18 cocoa mid-crop. Reuters reported that rainfall exceeded the five-year average in Daloa (which provides a quarter of national output) and in the heart of the cocoa belt in Soubre, reaching 67.9 mm and 67.2 mm, respectively.  “We are going to finish the mid-crop well. Everything is green and the trees...

Orion Minerals active on Prieska copper/zinc project in South Africa, announced yesterday June 25, a fundraising worth $11 million through a share two-tranche placement. The ASX and JSE-listed company plans to issue 297.3 million shares at $0.037 each. In a statement, it indicated that the money will mainly be used to finalize the bankable feasibility study underway at its flagship...

The Zimbabwean president Emmerson Mnangagwa will soon launch extension work of the Hwange thermal power plant. The $1.5 billion project will add 600 MW through the 7 and 8 production units which will produce 300MW each, raising the plant’s installed capacity to 1,520 MW. Work will be conducted by China’s Sino Hydro and are set to last 42 months. According to Fullard Gwasira (photo),...

Xtract Resources announced it has ended the mining contract agreement with Moz Gold for the Block M of its Manica concession’s western half. Today June 25, it reported an unsatisfactory gold recovery rate due to the “fine” nature of the gold and a processing plant which doesn’t fit for recovery purpose. “Moz Gold’s contribution to the overall production had not been materialized and...