The African Development Bank (AfDB) and the European Union (EU) will inject $9 million in the construction of a 1,008km-long highway that will connect Lagos to Abidjan. This was disclosed by the President of the Commission of the Economic Community of West African States (ECOWAS), Marcel Alain de Souza (picture). The Abidjan-Lagos corridor which will cross five countries, namely Côte...

The Canadian firm Sherritt International has, at the end of last week, signed with its partners Sumitomo Holding and Korea Resources, a definitive agreement for the restructuring of the joint venture managing Ambatovy, Madagascar’s biggest mine. After the drop in prices of nickel recorded over the past years, the project has indeed experienced some profitability issues.   Under the terms...

Since last Saturday, Bloomberg has launched in Accra, Ghana, the Africa Business Media Innovators (ABMI) 2017. The event which is organized by Matt Winkler and Justin Smith, respectively co-founder and CEO of Bloomberg Media, will end on November 14. Themed “The Changing Face of Media and New Hybrid Model”, the ABMI17 looks at better ways to sustain the dynamism of a flourishing media...

Algeria’s economy should grow by 4% in 2018, Reuters reported quoting the budget. This rate is above the initial forecast which was 2.2%. The budget expects an inflation rate of about 5.5% next year, a stable forecast compared to this year’s. The performance will also result from the implementation of major aspects of the budget which is up 8%. Budget deficit should slump to 9% of the GDP,...

By January 2018, the World Bank will provide Tunisia $100 million (about 250 million Tunisian dinars) for a project that aims to develop forest areas and landscapes in the internal regions of the country. This was told Agence Tunis presse (TAP) by Jade Salhab, senior expert in private sector’s development at the World Bank. Among the main concerned regions are the North-West and the...

Morocco has mobilized 9,838 hectares of industrial land, in the first half of 2017, according to the recently published report on public lands secured for investment. “Over the first half of 2017, the investment commission which is presided by the Head of the government himself, has approved 54 projects, including four in the sectors of industry, infrastructures, and energy which are to be...

The African Union commission has provided for the Turkana geothermal plant, 101.5 million Kenyan Shillings (more than $980,000). The grant was received by Olsuswa Energy, the firm in charge of the plant’s construction, and will be used to carry out technical studies as well as upgrade the infrastructure which is located in the Turkana County. The project’s development will take place...

The Sao Tomé & Principe national assembly has approved, unanimously, an agreement for the mutual exemption of visas for diplomatic and service passports’ holders, between the archipelago and China. This was announced last Thursday by the parliament’s president, José Diogo (picture). This agreement is part of the sectoral cooperation programme initiated by the two countries, after their...

In its new operational update released last Thursday, Ivanhoe Mines said it would proceed to a new resource estimation at its Kakula Discovery deposit, in DR Congo, by the end of this year.  The new estimation which will cover the whole deposit, will be based on a 12km extension delineated as a result of a drilling campaign carried out by the firm throughout the third quarter of this year,...

The Kenyan government has just concluded with Ireland a five-year agreement to boost its agricultural production, Businessdailyafrica reports. This agreement will fall under the 2017-2021 Ireland-Kenya Agri-Food Strategy and will focus mainly on the fishery and dairy sectors. It should enable local farmers to benefit from technology transfer in regards to modern agriculture, as well as...