BMW to supply its battery cells with Moroccan cobalt
German car-manufacturer BMW said it will make a fifth of its battery cells for electrical cars using Moroccan cobalt under a 100 million euro contract. The supply contract was signed with Morocco’s mining company Managem and aims to supply batteries of its iX3 electrical vehicles to be launched soon. BMW said it will obtain the […]
RDC: 20 years of hard labor for chief of staff of President Félix Tshisekedi
Vital Kamerhe, chief of staff of President Félix Tshisekedi, was handed 20 years of hard labor after he was found guilty of embezzlement of $48 million. He was also sentenced to 10 years of ineligibility. Presiding judge, Pierrot Bankenge, explained that it is not necessary to find the money in the defendant’s accounts to establish […]
COVID-19: South African mining company AngloGold Ashanti shut
AngloGold Ashanti, the deepest mine in the world, which restarted operations on April 22 after closing entirely during a nationwide lockdown, and was operating at 50% capacity has announced the closure of its underground production at the Mponeng mine. The announcement was made on Sunday May 24. The reason is that at least 164 employees […]
African football professionals going through difficult time
Ball is no longer round in Africa where all football championships have come to a standstill because of the pandemic. The clubs, which are also companies, are organizing themselves to survive and are waiting for help from the parent company, FIFA. In Burkina Faso, football players are in a grey area. With the exception of […]
France adopted the bill rectifying the end of CFA franc
The bill ratifying the end of the CFA franc was adopted on Wednesday 20 May in the Council of Ministers by the French government. This text formally validates the transformation of the West African currency which will change its name to eco. It is a new step after the announcement made on December 21 by […]
The most giant submarine cable to improve Africa’s internet connection
A cable of 37,000 km around the African continent. It is a gigantic project announced this week by a consortium of 8 companies: the construction of a submarine cable called “2Africa” which will leave the United Kingdom, direction Portugal and then go around Africa. This cable, which should be operational in 2023 or 2024, should […]
COMESA approves harmonized regional trade facilitation guidelines
COMESA convened a virtual meeting to approve a harmonized set of regional guidelines developed to facilitate movement of goods and services across the region during the COVID-19 pandemic. The meeting brought together ministers in charge of coordination of COMESA activities at the national level. They underscored the need for an online platform for exchange of […]
Covid-19: Morocco Decides to Export Excess Facemasks
Morocco, which produces 10 million non-woven masks per day in 23 factories, has decided to export its surplus of this most coveted commodity in the world battling covid-19 pandemic. The announcement was made Monday by the minister of Industry and Trade Moulay Hafid Elalamy at the Parliament. He said that the decision was taken after […]
South Africa to set up new airline to replace SAA
South Africa will be turning nearly a century of history of a company that was founded in 1934 and was considered a national pride. The coronavirus crisis is poised to claim a major casualty in the airline industry, with South African Airways (SAA) already in debt and under financial trusteeship. The international context has accelerated […]
Algeria started selling its oil at loss
To cover even the variable part of its operating costs, Algeria has to sell its oil between 15 and 20 dollars. Saharan Blend is currently trading at less than $15, i.e. below the threshold for the closure of industrial units. Algeria officially enters this week in a hellish spiral. Since last Monday, Algeria has been […]
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