Macadamia price reached a record level on Kenyan market due to an improvement of the nut’s quality.  Data from the country’s Nuts and Oil Crops Directorate show that the price per kilo of macadamia has  doubled to stand between KSh160 and KSH180 ($1.6 and $1.8),which represents an improvement from the KSh70 recorded in January. According to Alfred Busolo,...

His Excellency Alassane Ouattara and Nana Akufo-Addo,  presidents of Côte d’Ivoire and Ghana respectively, set up a common strategy on the sidelines of Africa CEO Forum launched yesterday in Abidjan. This is to further cope with volatility of cocoa in the international market. Dubbed “Déclaration d’Abidjan”, this roadmap includes a battery of measures covering the production,...

The Moroccan group Attijariwafa bank and the International Finance Corporation (IFC), World Bank’s private lending arm, agreed to consider investment projects in Africa. The partnership will mainly support investment and trade between North Africa and sub-Saharan Africa. Moreover, the two partners commit to cooperate in financing, investment and risk management. The agreement also plans for...

Yesterday March 26, José Filomeno dos Santos (photo), son of former president José Eduardo dos Santos, was charged by the justice system and banned from leaving the country. This is a new development of the $500 million embezzlement case in Angola. According to some information, the former head of Angola’s sovereign wealth fund is accused of “fraud, fund...

In Tunisia, the digital map of public lands and infrastructures is now publicly available. This was announced by the Tunisian minister of State domains and land affairs, Mabrouk Korchid (photo), during a press conference. “Individuals and communities concerned by the services of the ministry of State domains and land affairs, can now be updated about the State’s land thanks to a digital...

In Ghana, Armech Africa Limited, a designer and manufacturer of modern industrial processes announced it will construct in Tema, a power plant that will generate 60 MW through the incineration of 3, 000 metric tons of waste produced daily in Accra. This, through a technology known as energy recovery (Waste-to-energy W2E). Estimated at $300 million, the plant will be financed by...

Tomorrow March 27, 2018, the African Development Bank (AfDB) will launch 12 new projects to support SMEs active in the agribusiness sector in Ghana, Ethiopia, Malawi, Nigeria, Mozambique and Burkina Faso. These initiatives will be financed by the agriculture fast-track fund (AFT), launched in May 2012 and managed by the bank. Valued at $28.8 million, this multi-donor fund aims to...

Last March 23, the Congolese mines minister Martin Kabwelulu (photo) rejected a proposal from some mining companies to ease a number of provisions in the new mining code in exchange of higher royalties.  The companies said they were willing to pay more royalties to the government if it agreed to respect the previous code’s stability clause that protected them from changes in the tax...

Stratex International announced today March 26 that it has received the Senegalese government’s approval for a recently-concluded deal with AGEM, a subsidiary of Iamgold, regarding the Dalafin gold project. According to the agreement, AGEM will acquire an initial stake of 51% in the project by investing $4 million over a period of 4 years. The two companies will form a joint venture to...

The capital of the future Agricultural Bank of Burkina Faso (BADF) is CFA14.27 billion, Agence de presse africaine (APA) reports. The new financial institution’s main objective is to help develop agriculture and farming in the country. It will specifically focus on supporting the farmers’ acquisition of farm inputs, mobilizing savings in rural areas and strengthening the financial...