African Development Bank Group approves $428 million for infrastructure projects

The Board of Directors of the African Development Bank Group (AfDB) has approved a combined $428.4 million in loans and grant to finance energy, infrastructure, transport and water and sanitation projects in eight African countries. Under the approvals, Ghana Airports Co. Ltd. will receive a loan of $120 million to finance its capital investment program. Read More »

Broadband access in Africa crucial for increased innovation

Greater access to broadband would allow for more innovation and increased opportunity for Africa, Tony Dolton, CEO of Unitel in Angola, said. Dolton added that the impact of the digital transition on the telecoms and media sector is the convergence of content and delivery and the need to be “connected always,” meaning network infrastructure needs more investment and development.   Read More »

ECOWAS Mining and Petroleum Forum held in Accra

Organized by the government of Ghana, the ECOWAS Commission as well as AME trade, ECOMOF promotes and develops the mining and petroleum potentials in the ECOWAS region. During the forum, participants engaged in interactive workshops, an industry conference with plenary and parallel sessions, roundtables, country presentations and technical tours. ECOMOF will be held every two years. Read More »

671,000 ounces of gold found at Karankasso JV in Burkina Faso

Savary Gold Corp., which oversees the Karankasso Project Joint Venture of Sarama Resources Ltd. and Savary, declared a maiden Inferred Mineral Resource estimate of 671,000 ounces of contained gold at the Karankasso Project JV in the West African nation of Burkina Faso Oct.8. Additionally, Savary as well as independent consultants conducted geological modeling work at the site. Read More »

Lindab's Building Systems enters Africa with General Electric, Heineken

The first building order is for the design, supply and supervision of an 8,500-square-meter manufacturing and services plant for General Electric-Emerald Oil & Gas in Calabar, Nigeria. The second building will be located in Anyama, Ivory Coast. About $6 million, the project includes buildings for a new Heineken brewery and is anticipated to be completed sometime in 2016. Read More »

Mali, OECD to discuss peace in upcoming conference

The Organization for Cooperation and Economic Development (OECD) and the West African country of Mali will hold an international conference Thursday to discuss the peace and reconciliation agreement that was signed in June. The event will be held at the OECD Conference Centre in Paris and attended by government and private sector representatives and international partners. Read More »

Kinross Gold Corp. under federal investigation for West African mine payments

Kinross Gold Corporation officials responded to media inquiries Oct. 5 about the regulatory review occurring on its West Africa mining operations. Kinross says it is fully cooperating with the SEC and DOJ and continues to diligently pursue its own internal investigation, which, over the course of the past 25 months, is yet to identify any issues that would have an adverse effect. Read More »

Teranga Gold wraps up private placement with investor

Teranga Gold Corporation completed a non-brokered $17,471,088 private placement with David Mimran, CEO of Grands Moulins d'Abidjan and Grands Moulins de Dakar, one of the largest producers of flour and agri-food in West Africa Wednesday. In addition to the Mimran family having a legacy of operating effectively in Africa, Teranga is looking to foster long-term growth of its company. Read More »

Ivory Coast, Senegal & Guinea to make large investments in infrastructure

The Ivory Coast, Senegal, and Guinea will make unprecedented investments in infrastructure for their respective countries.For the Ivory Coast, its government is expected to invest $25 billion (USD) in infrastructure by 2020. Finance Minister Niale Kaba recently announced that 94 projects, including highways, would be invested in from 2016 to 2020 with public-private partnerships. Read More »

Starwood Hotels continues African expansion

In Nigeria, they will build Four Points by Sheraton Abuja and Residences and the Westin Abuja and Residences; in Kenya, they will build Four Points by Sheraton Nairobi Airport; in Senegal, they will build Aloft Dakar; in Tanzania, they will build Element Oyster Bay Dar es Salaam; in Mali, they will build Sheraton Bamako; and in Egypt, W Sharm El Sheikh and W Sharm El Sheikh.  Read More »

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