By 2020, Morocco plans to bring revenues generated by its aviation sector to $3 billion. This was revealed by the country’s ministry of industry, trade and digital economy, Moulay Hafid Elalamy, who added that the sector should create more than 23,000 jobs over the period considered. Moreover, Moroccan authorities intend to double local content rate (the level of contribution of local...

Egyptian investment bank EFG Hermes looks to invest in renewable energy projects totaling 400-500 MW in the 3 upcoming years, in the country. Bakr Abdel Wahab, the bank’s energy head, said: “We are thinking of establishing a holding company to manage energy projects, like Vortex, but in Egypt”. Indeed, the financial institution invests in the energy sector in Europe via a company...

Migration to Digital Terrestrial Television (DTT) will finally be for February 2018 in Burkina Faso. That is what the Ministry of communication announced during the meeting of the Executive Board of the Ministerial Sector (CASEM) held on December 21, 2017 in Ouagadougou. Remi Fulgance Dandjinou (picture), Minister of Communication said: “the process of DTT’s...

African Development Bank (AfDB) and the European Union (EU) partnered to help the Central African Republic achieve its digital potential. In this framework, both institutions will finance the implementation of the national optical fiber backbone, which is part of the Central Africa Backbone (CAB) project. The project’s total cost, €33.3 million, is broken into a €16.7...

It was during an evening of glamour and fascination that the 5th Edition of the prestigious Business Awards organized by the Seychelles Chamber of Commerce and Industries was held at Eden Bleu Hotel and Resort. The ceremony which brought together high dignitaries, business persons, friends and well-wishers is aimed at honoring those individuals and business organizations whose performance have...

Avesoro Resources, active in Liberia on the New Liberty goldmine, has announced that it has completed the acquisition of Youga and Balogo gold mines in Burkina Faso, announced late October 2017. The $65.9 million deal is “transformational” for the company and adds two mines in production to its portfolio. “Youga and Balogo will strengthen and diversify our portfolio within...

Emmanuel Zanghieri, CEO of Internet provider OFIS, has presented Yatto Zone project, already active in Pointe-Noire, Brazzaville, to Léon Juste Ibombo, Congo’s minister of posts, telecommunications and digital economy. This was during a meeting with the leader of Congo’s ICT and telecommunication sector on December 19, 2017, in Brazzaville. During the meeting, Emmanuel Zanghieri...

Rosine Coulibaly, the Burkinabe minister of economy, has signed last Monday five financing agreements valued at CFA131 billion with technical and financial partners. These monies will be injected in the National Economic and Social Development Plan (PNDES).  The first agreement (for CFA42 billion) concluded with the World Bank should support reforms initiated in the areas of energy and...

Togo-based holding, Ecobank, has raised $200 million on the international debt market, via a syndicated debt.  The debt which recorded the participation of many institutional investors, has a 5-7 years multiple maturity period. The loan was arranged by the Dutch development bank FMO which provided $58.5 million out of the proceeds. Other contributors are DEG with €21...

In Senegal, the CFA40 tax on peanut exports put in place during the 2016/17 season will be removed. This was announced on Wednesday by the government, subsequent to a ministers’ council. The new measure should mainly help boost Senegalese exports to targeted markets, the government said. Let’s recall that Senegal’s peanut exports are mainly directed to China and Vietnam.    By...