World Bank selects new country director for Nigeria

Rachid Benmessaoud has been named country director for Nigeria and coordinating director for the West Africa Regional Integration Program at The World Bank. Benmessaoud has been with World Bank since 1990, when he came on as an energy planner. The Morocco native has held various jobs with the company including operations adviser for India and country director for Pakistan. Read More »

Finance forum discusses Shariah-compliant investment in Africa

The African Islamic Finance Forum 2015, giving potential investors an opportunity to explore development opportunities in Islamic finance in the Ivory Coast, was held at the Sofitel Abidjan Hotel Ivoire. The two-day event featured discussions about key African markets. The first day included a global overview of Shariah-compliant transactions and the industry as a whole. Read More »

Endeavour Mining announces partnership with La Mancha

Endeavour Mining Corp. announced that it has entered into a long-term strategic partnership with La Mancha Holding, SARL, a privately held gold investment company controlled by the Sawiris Family. As part of the transaction, Endeavour will acquire La Mancha’s indirect 55 percent interest in Societe des Mines d’Ity, S.A., which operates the Ity Gold Mine in Ivory Coast. Read More »

Phase3 Telecom renews vow to improve its network

Phase3 Telecom said its goal is to strengthen its commitment to offering the best solutions that will amplify the operations of clients across West Africa. Phase3 Telecom, West Africa’s largest independent fiber optic infrastructure and telecommunications services provider, recently started deploying an aerial fiber optic infrastructure from Kano in Nigeria to Gazaoua in Niger. Read More »

Liberia receives $256.7 million Millennium Challenge grant

The Board of Directors of the Millennium Challenge Corporation approved a $256.7 million U.S. grant to Liberia under the Millennium Challenge Compact program. The grant will fund projects in electricity, road maintenance, reforms and capacity building. Liberia said the grant will have a significant impact on Liberians through poverty reduction, job creation and economic growth. Read More »

Kinross Gold releases updated 2015 full-year guidance

Kinross Gold announced the release of its updated 2015 full-year guidance that features the firm’s all-in sustaining cost, cost of sales, capital expenditures, production and overhead. Kinross Gold also announced that it is exploring opportunities to further reduce overhead. Kinross Gold has mines and projects in Ghana and Mauritania as well as the U.S, Brazil and Russia. Read More »

Ivoire Hydro Energy honored at West Africa Forum for Clean Energy Financing

Etty Ekolan Alain won the the top prize for its project Ivoire Hydro Energy at the second edition of West Africa Forum for Clean Energy Financing. Based in Ivory Coast, Ivoire Hydro Energy is an start-up that aims to design, construct and operate a 44-megawatt hydro power plant on the country’s Bandama River under a concession agreement signed with the government. Read More »

Liberia projects quick economic recovery from Ebola virus

Liberian Vice President Joseph Boakai stressed his confidence in Liberia's recovery from the consequences of Ebola virus crisis and a return to positive economic growth of $3.8 million. The speech was made during the U.S.-Liberia Trade and Investment Forum. The effects of the Ebola virus, which killed more than 11,000 people in West Africa, was one of the main topics discussed. Read More »

Top