Nigeria plans to borrow $4.4 billion to finance its 2018 budget, the minister of budget and planning Udo Udoma (photo) said today June 22. According to information relayed by Leadership, the money will help fill deficit generated by higher forecast spending (+22% compared to 2017). In this regard, $2.2 billion will be collected from domestic market while the remaining $2.3 billion...

Through a parliamentary vote held June 18, Benin adopted Act No. 2018-18 regulating climate change. A notable step forward in a context of strong progress in desertification and land degradation. “This law aims to prevent, protect and manage the consequences of climate change that could affect the Beninese people in the short, medium and long terms. It also aims at combating air, soil, marine...

DR Congo’s communication minister Lambert Mende (photo), invites all online media operating in the country to get registered at the ministry before next July 15, an order signed last June 14 indicates. “All online general information, specialized or opinion media existing on the date of entry into force of this Order have 30 days to comply with the Order’s provisions,” the document said....

The Engineering Export Council of Egypt (EEC) plans to organize jointly with the Egyptian trade ministry, a trade mission in Abidjan (Côte d’Ivoire) next July, as part of its strategy to expand into the African market. Egypttoday reports. “The mission will include representatives of 18 companies of electric industries, car components and metalwork,” said EEC’s Executive Chairwoman Maha...

Tajiri Resources, active on Reo gold project in Burkina Faso, announced this week that it has raised C$2 million through a non-brokered private placement. With the approval of TSX-V exchange on which it is listed, the company will issue 14,285,714 units (one common share and one common share purchase warrant) at $0.14 per unit. The money will be used to finance exploration and development...

Last month, Zimbabwe produced 3.4 tons of gold, Bloomberg reports quoting Fidelity Printers and Refineries, the central bank’s gold purchase arm. Out of this figure, small producers accounted for 2.2 tons while mining companies generated 1.2 tons. No comparative figure was given about last year’s output but the country eyes a record level of 30 tons of gold in 2018. With an average of 3 tons...

Morocco received a total of 3.4 million tourists between January and April this year. According to the country’s tourism observatory, this figure reflects an increase by 12% compared to the same period last year. During the period under review, the country saw higher foreigner arrivals (+19%) mainly from Italy with an increase by 18%, Germany (+19%), France (+11%), the UK (+10%), and Holland...

The South African Institute of Chartered Accountants (SAICA) has announced that it will prosecute Anoj Singh (photo), the former Chief Financial Officer of Eskom (the national electricity company) for mismanagement. According to SAICA, Mr. Singh acted improperly and dishonestly, and some of his financial decisions reflect a conflict of interest or undue influence from outside persons. The...

Gem Diamonds, operating in Botswana and Lesotho, reported it has paid over $18.3 million in taxes and royalties to both countries during the 2017 financial year which ended last December 31. In a document published yesterday June 19, the company specified that Lesotho received a total of $18.1 million broken into $229,000 in taxes and $17.8 million in royalties. Meanwhile,...

Initiated since 2017, the Anti-Graft Special Unit (PAC) is now a reality in Antananarivo, capital of Madagascar. Through this tool, authorities plan to strengthen the legal-institutional arsenal as to tackle corruption. “The Anti-Corruption Unit of Antananarivo now replaces the anti-corruption criminal chain, set up in 2004. It will deal with corruption cases, including economic and financial...