In Côte d’Ivoire, just 40% of cashew nuts stock has been sold so far for the ongoing season against 80-90% the same period last year. This was revealed to Agence ivoirienne de presse (AIP) by Bamba Adama, head of cashew growers’ federation. Indeed, the higher farm gate price of cashew in other countries prompts Ivorian producers to smuggle the nuts into these countries leading to...

African Development Bank (AfDB) has finalized a $50 million equity participation investment in the Development Bank of Nigeria (DBN), a financial institution currently being established in Nigeria. In addition to this commitment from the AfDB, the bank received a 20 million equity contribution from the European Investment Bank, bringing the overall amount to $70 million. The resource...

In Côte d'Ivoire, newsstand sale generated $5.6 million in 2017, down 18.8% from the $6.9 million revenues the previous year (-$1.3 million). This is revealed by the National Press Council (CNP) in its 2017 annual activity report which has been handed over to the Ivorian President Alassane Ouattara by CNP’s chairman Raphael Lakpé. According to the document, this drop in revenues is...

World Bank will grant up to $80 million to support Mozambique’s project for irrigation and market access for farmers (Irriga) which will be implemented in the country’s Northern side as from July this year, Macauhub reports. The financial resource will be disbursed over six years and the project which is set to reach 14, 000 farmers will cover 7, 000 hectares. “With the...

In Egypt, three power plants built by Siemens in Beni Suef, Brulus and the new administrative capital under construction, will be inaugurated next month by the President Abdel Fattah Al-Sissi himself, Sources close to the matter told Daily News. The three facilities, which have a combined capacity of 14,400 MW, are 97% complete and already supplied 12,800 MW to the national grid. Beni...

In Côte d’Ivoire, a bad management of fiscal risks could hinder the long-term achievement of macro-fiscal targets and plummet the country’s economy, IMF indicated in its latest report on the country's fiscal situation, published last April 18. According to the document, Ivorian public finances are exposed to many fiscal risks that represent a significant threat to the achievement of...

Bassari Resources announces today April 20, the creation of Makabingui Gold Operation, a special-purpose entity charged to operate its Makabingui gold project in Senegal. This follows a final approval from the government. The new entity (a subsidiary of Bassari) will receive the $13 million financing granted by Coris International Bank to start production at the mine. Therefore, the...

Mali’s national coordination of farmers’ organizations (CNOP) organized last April 17 a sharing and dissemination workshop on the agriculture land law, for about twenty journalists and media professionals,  Maliweb reports. The goal is to promote a better assimilation of the recent law that came into force a year ago in April 2017. “The law No. 2017-001 of 11 April...

Egypt will increase the operating hours of its ports from 16 hours per day to 24 hours.  According to the transport minister Hesham Arafat, this measure is to cut the long delays of wheat shipments’ clearance.   The official indicated that this new operation timetable should generate no additional fees to shippers. However, he did not specify how long the policy will last...

Lun Partners, a Chinese investment group, and Goodwell Investments, as well as several investors, jointly invested $4.5 million in MFS Africa, a Pan-African technology company. The latter which operates one of Africa’s largest digital payment networks announced that it will cooperate with Lun Partners to help Asian (especially Chinese) companies, with a particular focus on FinTech...