In South Africa, demand for processed meat dropped by 75% due to a listeriosis outbreak which hit the country, the Department of Trade and Industry revealed June 8 in a preliminary study. The organization pointed out that the pork industry which is the most affected has seen demand for cold meat decline by 50% and profit dropped by 40%. According to Bloomberg which relayed information from pork...

South African Airways (SAA)’s catering unit-Air Chefs- plans to cut 118 jobs over a total of 1,200 employees, the country’s National Union of Metalworkers of South Africa (NUMSA) revealed. According to the organization, which stands against this measure, any restructuration operation should be subject to discussion within the entire SAA group and should not be decentralized. Moreover, NUMSA...

For the 4th consecutive year, RAWBANK remains the best bank of the Democratic Republic of Congo in 2018. This was disclosed by renowned U.S. magazine Global Finance in its 25th annual list of best banks in the world, by region. From barely 10 employees in 2002, the lender now has 1,600 staff members and more than 90 points of sales (branches and advanced counters). Complying with the best...

The African Development bank (AfDB) announced June 6, it has approved a $42 million financing to the Sudanese agricultural sector. The amount granted as concessional loans will be used to implement the Agricultural Value Chain Development Project in the country. Estimated at $47.5 million, this 5-year project focuses on the improvement of agricultural production and productivity,...

Land grabbing issue is one of priority concerns in Morocco and the government plans drastic measures to address the situation. Mohammed Aujjar (photo), the minister of justice, revealed. Speaking at the meeting of the Land and Property grabbing Monitoring Commission, the official pointed out “the need to continue mobilization to fast track the entry into force of the legal and legislative...

AIM and TSXV-listed Altus Strategies announced yesterday June 7, it has begun exploration at its Prikro gold project in Côte d'Ivoire. The project is located on the 369.5 km² Prikro license in an emerging gold province of the country. Altus Strategies reported that multiple historical gold occurrences were identified near Prikro, and exploration activities will initially focus on a number of...

Bannerman Resources, active on Etango uranium project in Namibia, announced today June 8 it will raise A$8 million to develop the mine. The company received commitments from institutional and sophisticated investors for the placement of 173.9 million new shares at A$0.046 each. “I am delighted with the strong level of support shown from existing shareholders in the equity raising. I am also...

The multinational Kibo Mining signed a partnership agreement with the Mozambican company Termoeléctrica de Benga to co-develop a coal-fired power plant in Mozambique. The infrastructure, whose capacity will range between 150 MW and 300 MW, will be 65% owned by Kibo and 35% by Termoeléctrica. Under the agreed terms, both companies will build and operate the unit.  To this end, it has been...

The European Union will approve a financing worth $60 million to fight insecurity in Burkina Faso. The European Union Commissioner for International Cooperation and Development Neven Mimica (photo) said this week. According to information relayed by Xinhua, the amount will help implement the “Sahel Emergency Program” (Programme d’urgence pour le Sahel) initiated by the government. The...

The African Trade Insurance (ATI) announced it has achieved $9.9 million in net profit during the 2017 financial year which ended last December. It also reported that gross written premiums and equity rose respectively to $44.8 million and $242.2 million. Speaking during a press conference, George Otieno (photo), ATI's Chief Executive, pointed out that the institution considers...