Today February 21, Golden Rim Resources announced a $3.5 million fundraising campaign to fast-track exploration at its Kouri gold project in Burkina Faso. So far, it has received commitments from a number of investors for the placement of 87.5 million ordinary shares, worth 4 cents each. “We are pleased with the overwhelming support the company received for the capital raising from a...

The Ivorian Coffee and Cocoa Council (CCC) revealed that SOPEX is no longer authorized to sign contracts with Ivorian cocoa exporters and processors during this campaign and the next ten years to come because the company didn’t respect its business commitments. The council however declared that the sales already initiated won’t be affected.    According to Reuters, the group...

Triton Minerals signed an agreement with Gregory James Sheffield to purchase its 20% share in Grafex Limitada, a subsidiary of Triton that holds several graphite projects in Mozambique. Once the transaction is completed (by next March 21) Triton’s interest in Grafex will increase from 80% to 100%, giving it full ownership of projects that include Ancuabe mine. In exchange, the company...

This year, Rwanda will issue 50 new mining licenses. These licenses will be related to ores such as gold, tantalum and tin. The government expects to boost investments by 1/5 in the country. Indeed, thanks to these issuances, $2billion will be invested in the country against $1.6 billion in 2017. By developing its mining sector, Rwanda will boost its growth to 7% against 6% last year....

A march will be organized on March 15, 2018, to protest the land acquisition practices of real estate companies and agencies. This was announced by the coalition for housing right defense associations (CADDL). By doing so, the coalition intends to force the government to find “fair solutions" to what is considered as a housing crisis. "Instead of slums, we want social housing at...

China Engineering Corporation (CEEC) secured a contract to build a 400 MW combined cycle plant in Nigeria. The facility which will be built in Sagamu (Ogun state) is estimated at $550 million, but the contract’s value was not disclosed. Under the terms of the agreement, the Chinese company will be charged with the development, material’s acquisition and construction of the...

On Feb. 20, 2018, Uganda launched the first electronic auction of its coffee, Bloomberg reports. According to Martin Maraka, the program manager at the African Fine Coffees Association, this approach will involve 10 countries including Australia, U.S, some Asian and European nations and two African countries. The 3-days auction will become an annual event. The main challenge...

On Feb. 19, Black Mountain Resources informed its shareholders that it wants to sell its Namekara vermiculite mine in Uganda, to focus on its phosphate and copper assets. This initiative is part of a restructuration plan, agreed with its major lender Richmond Partners, which requires shareholders’ approval. Under the agreement terms, Black Mountain is to sell its interest in Namekara...

At the end of 2017, Moroccans had created 68,259 businesses in Italy, the largest number of companies run by foreigners in the peninsula. This is revealed in a report released by the Italian federation of chambers of commerce (Unioncamere). The Chinese come second with 52,075 businesses created. Other African countries also ranked are Senegal (19,494), Egypt (18,612) and Tunisia...

The Rwandan government is still determined to ban the importation of second-hand clothes from the U.S, despite being pressured by the latter. This measure, adopted in 2015 by the East African Community (EAC), aimed to suspend by 2018, import of cheap used clothes and footwear from Uncle Sam’s country. In response to this decision, the U.S threatened to eject Rwanda as well as Uganda and...