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Senegal’s national carrier inks order for A330neo

Air Senegal, the new flag-carrier of Senegal, has signed a memorandum of understanding to buy two Airbus A330-900neos plus two options at the Dubai Airshow, local media reported. Created in April 2016, Air Senegal is part of the Senegalese government’s air hub project, seeking to make of Dakar the first regional air hub in West […]

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Dangote sells two of his Nigerian noodle plants

Dangote Noodles Limited, a unit of Nigerian company Dangote Flour Mills, has sold two production lines for $12.26 million, the company said on Tuesday. The company, controlled by Africa’s richest man, Aliko Dangote, said the two units were sold to rival pasta maker De United Foods Industries. The purchasing company will continue marketing the products […]

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Côte d’Ivoire eyes about 400,000 tons of cotton this year

Côte d’Ivoire’s Cotton and Cashew Council on Thursday announced that the West African nation is expecting to harvest about 400,000 tons of cotton this year, an increase of 60,000 tons compared to the previous season. According to the head of the council, the forecast is based on the good rainfall and better government support through […]

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Africa’s intra-trade reaches 13% – UNECA

Trade among African countries accounts for only 13% of the continent’s overall trade, the United Nations Economic Commission for Africa said on Wednesday. The commission made the statement during a business Forum in Malabo, Equatorial Guinea, where economists have gathered to explore ways that can contribute to the continent’s industrialization. Increasing inequality and youth unemployment […]

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King Mohammed VI Calls for Inclusive Development in Africa

King Mohammed VI has called for the elaboration of inclusive human and economic development programs in Africa, based on a regional or continental vision. In a message read out on his behalf by royal adviser Yassir Znagui at the 10th “World Policy Conference”, convened Friday in Marrakech, the Moroccan Sovereign stressed the need to support […]

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Douala to become the financial hub of Central Africa

The heads of state of Economic and Monetary Community of Central Africa (CEMAC) in a meeting in the Chadian capital N’Djamena, decided to make Douala the financial center of the sub-region. According to the final communiqué of the one-day meeting, Libreville Stock Exchange, BVMAC, currently based in Gabon, will merge with the Douala Stock Exchange […]

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Egypt: Chinese energy giant BYD inks a deal to build 128-km Monorail

Chinese giant BYD Co has signed an agreement with the authorities of Egypt’s largest port city of Alexandria to build Africa’s first straddle-beam monorail (SBM), or ‘cloud rail,’ of 128 kilometres. According to Chinese News agency Xinhua, the potential collaboration comes four years after Alexandria local authorities began exploring options to relieve their city of […]

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Namibia to close diamond mines by 2022

Anglo American’s diamond unit De Beers, plans to close four mines by 2022 in Namibia, a union official told local media on Tuesday. According to Mbidhi Shavuka, an official from the Mineworkers Union of Namibia, the union would talk with the actors to keep workers employed for as long as possible. The mines affected are […]

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Gabon unveils $300 million new port Harbor

The Gabonese government on Saturday, unveiled a $300 million port as the central African nation seeks to modernize the existing Port of Owendo. The new port was constructed in partnership with Olam group from Singapore and will be partly managed by French logistics company, Bolloré. The project will allow the country to revive the economy […]

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Tunisia: Attijari Bank to sell client’s 27.550 shares over court decision

Country’s largest banking network Attijari Bank is to sell 27.550 shares belonging to a client who contracted a loan from the bank. The decision for the sale has been made by a court decision. Tunis stock market on Friday said the auction would take place October 17. The minimal rate for the share is $14.14 […]

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