The Ivorian State wants to raise $1.2 billion (about CFA600 billion) on the international market to finance its current budget. The operation was launched last February 27 by Amadou Gon Coulibaly (photo), the Prime Minister. In this regard, it has planned a roadshow in several European capitals. The country’s 2018 state budget is CFA6, 756 billion (nearly $11 billion). The...

Ethiopia generated $35.06 million from energy exports during the first half of the current fiscal year which began in July 2017. Bizuneh Tolcha, Director of Public Relations and Communications Directorate at the Ethiopian Ministry of Water, Irrigation and Energy, told Xinhua that the revenues were generated by exporting 100MW to Sudan, 70MW to Djibouti and 10MW to...

ASX-listed Mustang Resources, headed by Bernard Olivier, announced yesterday March 1 that it achieved a milestone in its strategy to make Montepuez a world-class ruby project, by converting an exploration permit into a mining concession. Indeed, the Mozambican government granted the company the mining concession 8, 955C for the area previously covered by the prospecting and exploration license...

In South Africa, the Western Cape province could record a cut by 20% in agricultural output this year due to a severe drought that has been affecting the country for 3 years now, Reuters reports.  According to Alan Winde (photo), Western Cape’s economic opportunities minister, the financial losses should stand at R5.9 billion ($498 million) during the period under...

Tunisia will invest TND12 billion (about $5 billion) in electricity and energy projects in 2018-20. This was disclosed in a statement issued by government last Feb. 27. The project includes the construction of a 600 MW submarine power transmission line valued at €600 million (over $735 million) which will link Tunisia to Italy and two 450 MW plants, Bloomberg reports. The...

Côte d’Ivoire’s Coffee and Cocoa Council sold 170,000 tons more cocoa than it expected during the auction of the main crop, two senior officials of the institution told Reuters last March 1. According to the sources, the CCC auctioned export permits estimated at 1.53 million tons of cocoa but is now forecasting an output between 1.36 and 1.38 million tons of the bean, due to bad...

Kenya’s government signed with three European agencies, a concessional loan and grant agreements, under which it will be granted KSh22.29 billion (over $217 million) to implement water sanitization and supply projects in the country. The fund will be used to build a new dam in Mombasa, seek new water sources and upgrade existing supply networks in Kisumu and other towns in...

On February 27, 2018, Mars Egypt, a subsidiary of the US chocolatier Mars launched two new production lines in its West Cairo-based plant in 6th of October. The inauguration was headed by Tarek Kabil, the minister of industry and foreign trade. These new facilities valued at EGP750 million ($42.5 million) should allow the company to consolidate Egypt as a major exporter of its flagship...

The overall trade exchanges between Egypt and the US reached $5.61 billion in 2017. Compared to 2016’s volume which stood at $4.97 billion, this represents an increase by 13%, the Egyptian minister of trade and industry, Tarek Kabil (photo), revealed recently. He also indicated that the items mainly exported to the US are ready-made clothes, textiles, fertilizers, iron,...

Denham Capital Management LP, a British private equity company plans to invest $250 million in energy projects in Africa. In this regard, the company partnered with the Moroccan firm Neo Thermis, which is currently developing renewable energy and gas-fired plants estimated at about 400 MW across the continent. The projects include a solar plant (50 MW) in Nigeria and a hydroelectric dam (44...