Trade between Brazil and African nations is progressing after a few year of slowdown. This is what revealed data from Brazil’s ministry of Industry, Trade and Services, reported by Macauhub. This improvement reflects a new diplomatic environment, at the dawn of the economic crisis that struck one of the world’s most dynamic emerging markets. The actual context has promoted trade and business...

The European Investment Bank (EIB) has granted the African Import-Export Bank AfreximBank, a credit line of €100 million. This facility will help finance investments and Europe-Sub Saharan Africa inter-trade projects. This financial support is one of three announced by the European institution, at the last Africa-EU summit, recently held in Abidjan. The bank has committed to providing a...

At the end of the first 10 months of the year, Tunisia’s fishery production stood at 111,000 tons, thus 8,000 tons more than in 2016. The announcement was made last Monday by the ministry of agriculture, water resources and fishery. In details, fishing produced 96,000 tons or 86.5% of the total output, while aquaculture produced the remaining 15,000 tons.   Let it be recalled that...

Mining firm Rainbow Rare Earth has announced last Tuesday that it has exported its first cargo of rare earth concentrates coming from its Gakara project in Burundi. By coming online, the Gakara mine makes the firm the sole producer of rare earths in Africa and one of the rarest in the world, besides China. “This is a proud moment for all involved in the company and we now look forward to...

The Bvutiselo Group has told the Congolese minister of posts, telecommunications and digital economy, Léon Juste Ibombo, of its plans to set shop in Congo. During a meeting with the Head of the telecom sector, last week, Dick Bvuma, managing director of the South African company, explained that the goal is to deploy a Smart village in the country. During this meeting, the executive was with the...

After having started assembling Hyundai cars in 2016, the Tahkout group is now getting ready to start assembling Suzuki cars, starting from May 2018, in Saïda, Algeria. The development of the related assembly unit and its equipping will be completed before the end of the year, a statement indicates. This infrastructure will produce 10,000 cars per year, a capacity that the firm aims to increase...

African nations should auto-finance the implementation of a good governance programmes in the framework of their structural transformations, Abdalla Hamdok (picture), deputy executive secretary of the economic commission for Africa (ECA), told Ecofin Agency. This was on the sidelines of the 27th African economic conference which opened on December 4, 2017, in Addis Ababa,...

The government of Rwanda and the World Bank have signed a financial convention valued at $125 million in the framework of the Development Policy Operation (DPO) to support Rwanda’s power sector. This was disclosed by the daily The New Times. The facility will come as a concessional loan which will help back companies’ initiatives across the country, in favor of the power sector, under...

Last year, exports of goods and services from the whole West African Economic and Monetary Union (WAEMU) slumped by 7.6% standing at CFA15.67 trillion. This was revealed in the latest report of the BCEAO, the region’s central bank. This negative performance results from the drop in exports of cocoa (-9.4%), cotton (-1.1%) and oil products (-22%), which is due to the global economic crisis...

BMCE Bank of Africa’s non-Moroccan units contributed to 45% of the net result of the group over the first nine months of 2017, a financial statement from the group revealed. This equals 714.61 million dirhams ($76.11 million), given that net result over the period was 1.58 billion dirhams. The bank’s management welcomes the performance saying it is a “confirmation of its pan-African...