In Tanzania, the construction of Stiegler’s Gorge hydropower plant will start within three months. This was announced by Medard Kalemani (photo), the energy minister. According to the official, the energy ministry is finalizing the process to choose the company which will conduct the construction work. He also revealed that a committee is being established to facilitate the project. This...

Bass Metals’ share price climbed on ASX stock exchange today April 4, after the company announced that its Graphmada graphite project in Madagascar has entered into production phase once again. This event positions the company as one of the ASX-listed two graphite producers and one of the four global graphite producers listed on a Stock exchange. The company indicated it has completed the...

A report published in March by IFC reveals that Sub-Saharan Africa could grow by 2.6% by closing the infrastructure gap.  The study reveals that the region’s GDP per capita will rise by 1.7% a year if it catches up with the rest of the world’s average quantity and quality of infrastructure. Once sub-Saharan Africa fills that infrastructure gap, its growth will then increase to 2.6%...

The Ivorian government forecasts an output of 500, 000 tons of cocoa for the 2017-18 light crop, Reuter’s reports. This figure which represents an increase by 100, 000 tons compared to previous prospects, is however down 20, 000 tons from last season. Although this good impetus should help the country hit the record of 2 million tons reached in 2016/2017, the optimism remains to be...

During the 2018-19 cotton season, the price of cotton will hit a new record, standing at the highest level in almost 5 years. This was announced by the International Cotton Advisory Committee (ICAC). According to information published by Agrimoney, the Cotlook index A, which measures the fiber prices, could be around 84 cents per pound, a strong performance ever achieved since the...

Resolute Mining, active in Africa’s gold sector, announced today April 4, that it clinched a binding agreement to acquire 27% interest in Loncor Resources’ equity, a Canadian company active in the Ngayu Archean greenstone belt, in DRC. Under the terms of agreement, Loncor will expand its existing asset base, by acquiring 100% interest in two Congolese companies which hold additional...

Senegal will receive $56 million from West African Development Bank (BOAD) for the development of nearly 400 km of roads, Agence de Presse Sénégalaise revealed last March 30. This amount should allow the country to renovate three different road axis including Fouladou loop (180 km), Kédougou-Salémata road (78.6 km) and the Boudier loop (135 km). The work should mainly focus...

Last week, the French Development Agency approved a funding agreement of CFA19.65 billion for Burkina Faso to support three agricultural projects. This was reported by Sidwaya. The document was initialized by Hadizatou Rosine Coulibaly, Burkinabe minister of economy, finance and development and Tanguy Denieul, FDA’s Director. The resource granted as concessional loan and...

The European Union approved last March 30, a $28 million financing for Senegal to help implement sectorial development projects in the country. According to information released, the financing agreements cover internal security, transport and the implementation of the Program for Competitiveness in West Africa (PCAO). Therefore, around $12 million should be injected in the...

International Finance Corporation, World Bank’s arm dedicated to the private sector, revealed in its “Shaping the future of Africa” study published in late March that by 2030, about 100 million persons will belong to the middle class in sub-Saharan Africa. It also revealed that household spending should annually increase by 5% in the region, against 3.8% in other developing...