Angolan government plans to privatize 74 public companies within the next few years. This was indicated in a memo sent to investors as part of the country’s bond issue operation. According to the document, this strategy aims in the long term, to reduce state contribution in a highly centralized economy. In this wake, the government plans to sell all its shares in the 74 companies in question....

Last May 11, World Bank approved a $100.85 million (CFA55 billion) loan commitment for agriculture, water and ICTs sectors in Burkina Faso. The agreement was initialed by Rosine Coulibaly (photo), Burkinabe minister of economy, finance and development and Cheick Fantamady Kanté, World Bank’s resident representative in Burkina Faso. Two agricultural projects including Bagré...

In 2017, trade volume between Egypt and Mexico amounted to $ 123.4 million, authorities revealed during the launching ceremony of Egypt-Mexico Business Council last week. Out of this figure, Egyptian exports to Mexico reached $71 million, while imports from Mexico stood at about $52 million. Egypt’s main imports items from Mexico include tubes, railway spare parts,...

Partial results from phase I of Côte d'Ivoire’s national operation aiming at identifying and locating religious associations, cult places and religious buildings, revealed that Abidjan alone hosts 5890 cultural entities and religious buildings of all faiths, as of 02 May 2018. Officially launched last October 25 by the Ivorian home affairs Ministry’s Directorate General of Religions, this...

Ethiopia exports generated $2.1 billion during the first three quarters of the 2017-18 fiscal year. This represents an achievement rate of 56.9% from the $3.66 billion initially targeted and a deficit of $1.58 billion. According to authorities, this rather poor performance is mainly due to smuggling. Among exported items, oilseeds, tea, and electricity recorded the best...

China will grant Ethiopia a total of $265 million under two agreements signed yesterday May 10, to develop a drinking water project and for humanitarian assistance. The documents were initialed by the Ethiopian Minister of Finance and Economic Cooperation, Admasu Nebebe, and the Chinese Ambassador to Ethiopia, Tan Jian. The first financing ($250 million) granted as a concessional loan will...

Senegalese government will invest CFA50 billion in the 2018-19 agricultural season, up CFA10 billion from the amount previously announced. This was revealed by president Macky Sall at the end of the ministers’ council last May 9. The higher support should help keep the sector dynamic and strengthen its contribution to the economy. In regards to last season’s balance sheet, many crops...

The Gambian government put up for sale a fleet of three planes and many luxury cars, including Rolls-Royces owned by former President Yahya Jammeh. Finance Minister Amadou Sanneh (photo), told Reuters today May 11, adding that the money generated will be used to repay part of the country’s huge debt contracted under Yahya’s regime. Indeed, these planes and cars were reportedly purchased with...

World Bank will grant Mozambique $150 million to finance the national program of road network improvement, a statement issued last May 8 by the institution indicated. According to the document relayed byMacauhub, this amount which will be granted as a donation, should enable the implementation of many projects under the country’s integrated road development program. This mainly includes...

Ethiopian government suspends the mining license of Midroc Gold Mines, a company which has been operating on the Lega Dembi project (4.5 tons of gold/year) in Oromia region for two years now. This was reported yesterday May 10 by Reuters which quoted a senior government official. The decision follows weeks of protests by populations who accuse the company of water and air...