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African Open Skies plan putting cart before horse – Nigerian airlines

By: Rebecca Campbell     8th June 2018 Nigerian airlines are not enthusiastic about any rapid implementation of the Single African Air Traffic Market (SAATM). This was made clear at the recent 27th Annual African Aviation Summit (Air Finance Africa) by national industry association Airline Operators of Nigeria CEO Noggie Meggasin.  

Ivorian miner seeks $375m bauxite venture with Sumitomo

By: Bloomberg     30th May 2018 Lagune Exploitation Afrique in Côte d'Ivoire said it is in talks with a unit of Sumitomo Corp about a partnership for the development of a bauxite deposit and the construction of two alumina plants for 218-billion CFA francs ($375-million). Lagune Exploitation is developing the 34.5-million... 

African Open Skies plan putting cart before horse – Nigerian airlines

By: Rebecca Campbell     24th May 2018 Nigerian airlines are not enthusiastic about any rapid implementation of the Single African Air Traffic Market (SAATM). This was made clear at the 27th Annual African Aviation Summit (Air Finance Africa) by national industry association Airline Operators of Nigeria CEO Noggie Meggasin on... 

Trevali revenues rise 187%, Q1 earnings miss on Perkoa freight timing

By: Henry Lazenby     11th May 2018 Pureplay zinc producer Trevali Mining has reported adjusted earnings a share of $0.04, missing average analyst earnings forecasts by a penny, on lower-than-expected sales from the Perkoa mine, in Burkina Faso, mainly owing to freight timing at the Port of Abidjan, in Côte d’Ivoire.... 

TPT continues to strive for greater efficiency at Durban port

By: Shirley le Guern     11th May 2018 The Port of Durban has come a long way but it is not yet where Transnet Port Terminals (TPT) wants it to be, CE Nozipho Sithole told delegates attending the Transport Forum Special Interest Group gathering, held at the former Durban Maritime School of Excellence, this week.  “I’m not sure how... 

Guinea GDP growth surges on mining sector rebound – IMF

By: Reuters     3rd May 2018 Guinea's economy expanded by more than 8% in 2017 and is on track to grow by around 6% this year on the back of a rebound in the mining sector, the International Monetary Fund (IMF) said on Wednesday. Meanwhile, inflation in the West African country – a major producer of the aluminium ore bauxite... 

Bollore to invest €400m in Côte d'Ivoire port terminal

By: Reuters     27th March 2018 French industrial conglomerate Bollore aims to invest €400-million ($496.28-million) from next year to build a second container terminal at Côte d'Ivoire's main port of Abidjan, the deputy CEO of its transport and logistics division told Reuters. Philippe Labonne, deputy CEO of Bollore Transport... 

Massmart to open 20 stores in Pan-African expansion – chairperson

By: Reuters     27th March 2018 South African retailer Massmart is continuing its Pan-African expansion with plans to open about 20 new stores outside its home market over the next three years, the company's chairman said on Monday. Massmart, majority-owned by US retail giant Wal-Mart, operates nearly 400 stores, including 42... 

Investments accumulated to catalyse off-grid energy development

By: Dylan Slater     26th January 2018 Multilateral development bank African Development Bank’s (AfDB’s) board approved a $30-million investment in the Facility for Energy Inclusion Off-Grid Energy Access Fund (FEI OGEF) last month.  

Côte d'Ivoire mining sector turnover rose 11.5% in 2017

By: Reuters     25th January 2018 Côte d'Ivoire's mining sector turnover rose by 11.5% in 2017, an increase achieved mainly via exports of gold, manganese and nickel, the government spokesman said on Wednesday. "The mining sector announced a sales revenue of 539-billion CFA francs ($1.02-billion) in 2017, compared to 483-billion... 

Guidance note on support for off-grid renewable energy launched

By: Dylan Slater     19th January 2018 The first edition of the Off-Grid Government-Industry Dialogue (OGID) Day – which took place in Abidjan, Côte d'Ivoire during October – resulted in the launch of a guidance note for governments. The note aims to share recommendations for policymakers about how they can support the off-grid... 

AfDB launches youth advisory group to tackle joblessness

By: African News Agency      28th November 2017 The President of the African Development Bank Group (AfDB) in Côte d'Ivoire, Akinwumi Adesina, has launched the Presidential Youth Advisory Group (PYAG) to provide insights and innovative solutions for job creation for Africa’s youth. In a statement on Tuesday, AfDB said the “Jobs for Youth in... 

African ports define development roadmap for 2018 and beyond

22nd September 2017 Over 20 African ports authorities, terminal operators and Ministries of Transport convene in Durban, South Africa this October for strategic think-tank discussions around port optimisation and modernisation across the region.  The African Ports Evolution initiative sets the backdrop for the... 

AfDB in $2bn project finance pact

By: Mia Breytenbach     28th July 2017 The African Development Bank (AfDB) and the Islamic Development Bank (IsDB) have signed a landmark agreement to strengthen their partnership at country level and jointly contribute to $2-billion over the next three years to finance projects in agriculture, food security, renewable energy, small... 

Nepad Special Fund contributors call for increased contribution for Africa’s infrastructure development

By: Creamer Media Reporter      10th July 2017 While contributions to the New Partnership for Africa’s Development’s (Nepad’s) Infrastructure Project Preparation Facility (IPPF) Special Fund reached some $90.5-million during the first half of this year, donor contributors have urged other countries to contribute to the fund to support... 

AfDB approves $15m equity investment to support inclusive growth

By: Mia Breytenbach     7th July 2017 The African Development Bank (AfDB) has approved a $15-million investment in multinational private equity fund Shore Capital Fund III (ShoreCap III), which promotes financial inclusion by supporting financial institutions serving Africa’s low-income and emerging middle-class communities. The... 

Sub-Saharan Africa middle class represents R1.3tr a month market

By: Megan van Wyngaardt     19th May 2017 A University of Cape Town (UCT) Unilever Institute of Strategic Marketing initiative, the African Lions research project, has established that the sub-Saharan African middle class, comprising around 100-million people, represents a R1.3-trillion a month market and is growing. Carried out... 

Wealth gap leaves Ivorians craving share of 'economic miracle'

By: Bloomberg     20th April 2017 Standing knee-deep in muddy water to sift gravel in oppressive heat, a handful of middle-aged miners search for diamonds, clinging to what seems like a dying trade in a region with few job opportunities. “It’s unpredictable,” Pierre Silue, a 46-year-old miner wearing ragged clothes, said as he... 

Africa must connect on global scale for economies to keep up and compete

By: Megan van Wyngaardt     9th February 2017 To grow their economies in line with their growing size, Africa’s cities must open their doors and connect to the world to ensure that investments in these cities’ infrastructure, industrial and commercial structures keep pace with its concentration of people. A new World Bank report, released on... 

Fourteen airport rail links planned in Africa, including two more in SA

By: Irma Venter     16th December 2016 There are more than 7 000 airports indexed at the International Air Transport Association (Iata), with 600 of those handling more than 1-million passengers a year. Around 150 of these 600 airports have rail access directly to the terminals, with only 23 of the 150 featuring dedicated,... 

Fourteen airport rail links planned in Africa, including two more in South Africa

By: Irma Venter     15th December 2016 There are more than 7 000 airports indexed at the International Air Transport Association (Iata), with 600 of those hand- ling more than one-million passengers a year. Around 150 of these 600 airports have rail access directly to the terminals, with only 23 of the 150 featuring dedicated,... 

Liquefied natural gas regasification terminal, Côte d'Ivoire

By: Sheila Barradas     15th December 2016 The project involves the construction and operation of a liquefied natural gas regasification terminal, with a capacity of three-million tons a year.  

How Brics bank can change the way lenders do business

2nd December 2016 In times of economic distress, a situation South Africa finds itself in at present, governments tend to invest heavily in infrastructure, which plays a central role in economic growth and poverty reduction by promoting greater productivity, increasing trade, reducing the cost of doing business... 

Total-led consortium awarded Côte d'Ivoire LNG terminal rights

By: Natasha Odendaal     25th November 2016 A consortium led by Total – the Côte d'Ivoire GNL, or CI-GNL – has been awarded the rights to construct and operate a three-million-tonne-a-year liquefied natural gas (LNG) regasification terminal in Côte d'Ivoire. The regasification terminal project, which is expected to be operational by... 

AfDB board approves Boost Africa Investment Programme

By: Anine Kilian     24th November 2016 The African Development Bank’s (AfDB’s) board of directors has approved the €50-million Boost Africa Investment Programme – a package of investments in various venture, seed, accelerator and incubator funds that aim to support innovative start-ups and early-stage small businesses across Africa.... 

France’s AMR seeks rights for $200m Guinea bauxite mine

By: Bloomberg     7th October 2016 French bauxite explorer Alliance Miniere Responsable said it filed for permission to develop a $200-million mining project in northern Guinea. AMR seeks the right to mine bauxite in the West African nation’s Boke district for at least 15 years, Romain Girbal, president and co-founder of the... 

The 8th Africa Public Private Partnership Conference and Showcase

6th October 2016 Organised by AME Trade, the event will take place from the 24 – 26 October 2016 at the Radisson Blu Hotel, London, UK building on the success of the previous editions. 

Endeavour announces management shakeup

By: Henry Lazenby     5th October 2016 West Africa-focused gold producer Endeavour Mining has appointed Vincent Benoit to the newly created position of executive VP, CFO and corporate development officer, effective November 1. The company on Tuesday announced that the former executive VP for strategy and business development would... 

IronRidge widens lithium playing field with West African acquisition

By: Megan van Wyngaardt     13th September 2016 In light of the rising global demand for lithium, Aim-listed IronRidge Resources has set out to acquire a highly prospective 400 km2 primary hard-rock lithium exploration licence in Côte d'Ivoire from Enchi Pro. IronRidge can acquire up to 100% of the project through staged earn-in arrangements... 

BASF increases its footprint in Ivory Coast

11th May 2016 BASF, the world's leading chemical company, establishes a legal entity in Ivory Coast to enable future growth opportunities. BASF is looking at Ivory Coast as the hub country for West Africa French Speaking countries and has expanded its capabilities considerably to continue innovating in this... 

Endeavour back in the black as AISC drops and output rises

By: Henry Lazenby     3rd May 2016 Africa-focused Canadian gold producer Endeavour Mining has reported a $3-million, or $0.05 a share, headline profit for the three months ended March 31, as markedly lower all-in sustaining costs (AISC) and higher year-on-year sales boosted the miner's financial performance. The TSX-listed miner,... 

AfDB to put up $1.1bn for Tanzania’s transformation to inclusive, green growth

By: David Oliveira     25th March 2016 The African Development Bank (AfDB) announced last month that it will support Tanzania’s economic transformation to inclusive and green growth through an indicative concessional resource assistance package estimated at more than $1.1-billion over a five-year period. The support package is... 

Opic opens Côte d’Ivoire office

By: Natasha Odendaal     23rd March 2016 US development finance institution, the Overseas Private Investment Corporation (Opic) has established its first permanent, dedicated regional office in Côte d’Ivoire, in an effort to stimulate investment into development projects in the critically strategic West and Central Africa. To mark the... 

Global groups act to de-risk lending to African SMEs

By: African News Agency      23rd March 2016 Ecobank has joined forces with leading international finance and development organisations to help fill the gap in financing for small and medium-sized enterprises (SMEs) in some of Sub-Saharan Africa’s poorest and most fragile countries. Ecobank Transnational Incorporated (ETI), parent company... 

New Warehouse-in-a-Box for Ivory Coast

17th February 2016 Imperial Logistics’ company, Resolve Capacity, has completed its latest Warehouse-in-a-Box™ - this time in Abidjan, the capital of Ivory Coast. Along with partners Turnkey Infrastructure Solutions, Resolve implemented its unique modular infrastructure solution for this $5.8 million, 4 095 m²... 

Visa regimes seal out nearly 80% of Africa to Africa travellers, says AfDB

By: African News Agency      16th February 2016 Africa remained largely closed off to inter-Africa travel with Africans requiring visas to travel to 55% of the continent, able to get visas on arrival in 25% and allowed to travel without visas to just 20% of the 48 countries, the African Development Bank (AfDB) has said. In a statement released... 

Randgold’s Tongon moves into dividend-paying position

By: Megan van Wyngaardt     26th October 2015 Randgold Resources’ Tongon gold mine, in Côte d'lvoire, has paid off its shareholders’ loans of $448-million, thereby moving it into a dividend-paying position, CEO Mark Bristow says. Speaking at the mine’s quarterly briefing in Abidjan, he described this as a significant achievement,... 

UK, Norway conclude Globeleq Africa acquisition

By: Natasha Odendaal     14th September 2015 The UK’s State-owned development finance institution CDC and Norwegian investment fund Norfund’s joint buyout of power generation platform Globeleq Africa from emerging market investor Actis has been concluded, the parties announced on Monday. Norfund, which injected $227-million for a 30% stake... 

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