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Congo: Prime Minister, Cabinet Resign amid Economic Turmoil

Congo’s Prime Minister Clement Mouamba on Thursday resigned along with the rest of his cabinet, days after veteran President Denis Sassou Nguesso called for new leadership. The Central African nation has been struggling with economic woes since the 2014 drop in oil prices as the drop reduced export revenues and increased public debt. In his […]

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Ghana’s oil production increases by 67%

Ghana’s oil production has increased by 67 percent in the first half of 2017 compared to the same period in 2016, the semi-annual report on the Petroleum Holding Fund and Ghana’s Petroleum Funds shows. According to the report, Ghana realized $191.32 million in revenue in the first half of this year compared to the $114.4 […]

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Nigeria’s Aliko Dangote to invest up to $50bn in US, Europe

Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $20bn to $50bn in the United States and Europe over the next seven years in various industries, including renewable energy and petrochemicals, Bloomberg reports. Dangote, whose cement unit is Nigeria’s biggest listed company, will start investing outside the African continent by 2020. In […]

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Egypt slashes industrial licensing approval time from 600 to 30 days

Egypt on Sunday issued executive regulations for its Industrial Permits Act, making it a law to slash bureaucracy and decrease the waiting time for new projects in the North African nation. The executive regulations will reduce the waiting period for obtaining industrial licenses to establish new facilities from 600 days to seven-30 days, Trade and […]

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Africa-US AGOA forum ends in Lomé with no change to the deal

African Growth and Opportunity Act (AGOA) free trade deal forum ended in Togo’s Capital Lomé on Thursday with no significant change to the deal. The annual forum, which is a platform for promoting stronger economic ties between the United States and qualifying sub-Saharan African countries that receive enhanced US market access under AGOA, ended with […]

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Cameroon to revamp its loss-making national airline

Cameroon’s national carrier, Cameroon Airlines-Corporation (Camair-Co) has embarked on a recovery plan at an estimated 91.5 million euros over the next 5 years, Africanews reports. The ailing-carrier Camair-Co will benefit a stimulus plan from Boeing consulting that will allow the company to resume its flights, official said. The company has been rocked by poor management […]

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Ethiopia eyes $30 billion dollars from textile by 2030

The Ethiopian government plans to use 80% of the total area of land suitable for cotton growing as the country projects to generate $30 billion in foreign exchange earnings from the textile and garment sector by 2030, Bogale Feleke, Ethiopian Deputy Minister of Industry said. “We intend to increase our area of cotton production. At […]

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The Ethiopia-Djibouti railway line to start commercial operations in October

Chinese-built electric rail line built in Ethiopia will start commercial operations in October this year, it was officially announced. The 756-km stretch linking Addis Ababa and the Red Sea state of Djibouti aims at creating new manufacturing industries, improving transport and opening up landlocked Ethiopia further. “We hope the rail project will facilitate expansion of […]

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Ghana looks forward to Fostering Agricultural Cooperation with Morocco

Morocco is the best placed “sister country” in Africa that can assist Ghana in its agricultural development efforts, said Ghanaian foreign Minister Shirley Ayorkor Botchway, who is on an official visit in Rabat. Speaking following a meeting with Morocco’s Agriculture Minister, Aziz Akhanouch, Botchway stressed the need for building on the cooperation framework between the […]

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African fruit growers organizing to better access EU markets

A new pan-African fruit industry association, Afruibana, gathering fruit producers and exporters from Cameroon, Côte d’Ivoire and Ghana, was officially launched this week in Brussels. Open to African fruit and vegetable farmers, the new platform seeks to put in place strategies to improve the sector’s competitiveness and increase the access of African products to the […]

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