Teranga Gold has signed with the private firm Sodium Ltd, a memorandum of understanding to establish a joint venture to explore and develop the Afema gold permits in the Ivory Coast. Under the terms of the agreement, Teranga can hold a 70% initial stake in the JV if it proceeds to an exploration campaign and community works on the Afema permits. The campaign will last 3 years and the firm would...

The Tanzanian President, John Magufuli, instructed the Central Bank of the country to take actions against the failing banks and strengthen control on foreign exchange movements in order to protect the local currency (Tanzanian Shilling). "We now have some 58 banks in Tanzania, the [central] Bank of Tanzania should closely monitor these banks and take swift action against failing...

Since the end of 2013, the country has been strongly hit by the civil war. To meet the urgent needs of half of its population, 6 million people affected by the war’s disastrous consequences and drought, South Sudan will need $1.7 billion in 2018. This information has been given on December 13, 2017 by the United Nations and the South Sudan government. Alain Noudehou, United Nations...

The African Development Bank disbursed more than €71 million for the construction of a 714 km high voltage power line. The infrastructure which will link N’Zérékoré (Guinea) and Sanankoroba (Mali), will enable the electrification of 201 villages and provide a better access to electricity.  Marie-Laure Akin-Olugbadé, assistant general manager of the AfDB in West Africa,...

The International Fund for Agricultural Development granted Madagascar a loan and a donation of $53 million for the inclusive agricultural sectors development program (DEFIS). Edmond Randriarimanana, Malagasy Minister of agriculture and livestock, and Gilbert Houngbo, IFAD’s chairman, have signed the related funding agreement. The DEFIS, which is valued at a total cost of $250...

The Kenyan tycoon Baloobhai Patel increased almost fourfold his stake in the Cooperative Bank of Kenya (CBK). According to a statement of the bank, M. Patel who previously held 5.8 million shares in February, 2017, now has 25.2 million shares. Doing this, Patel upped his interests in CBK to 0.43% and becomes the second largest individual investor behind Gideon Muriuki, current chairman of the...

The Malagasy parliament voted, on December 13, 2017, a law on the legal framework of land registration and ownership. A vote which falls in line with the government’s desire to improve land management across the island. According to L’Express de Madagascar, “this law aims to handle, among others, the management of titled properties, buildings’ registration processes, land...

Katanga Mining has announced this week the coming online of the first train of its new whole ore leach (WOL) processing facility at its KCC’s copper and cobalt mine, in DRC. The first copper cathode was produced on December 11, 2017. In September 2015, the KCC’s copper and cobalt production was halted pending the construction of the WOL project. The firm now affirms that commissioning will...

“Over these past months, the government has been putting much pressure on media. Many media were forcefully suspended, while journalists were arrested and abused. Complaints were filed against the abusers and we hope the Guinean jurisdictions would be able to do justice to the abused,” said Clea Kahn-Sriber, the head of Reporters Sans Frontières (RSF) Africa, in an interview given yesterday...

In Madagascar, all wills and sales deeds will soon be recorded in a single registry to “combat scammers”. This initiative is led by the Island’s ministry of Justice and its Chamber of Notaries. “A decree for the creation of a registry at the national chamber of notaries will be soon issued. Notaries must report all declaration of wills and deeds for the sales of lands or other...