Mali: gold production up 33%

Malian gold mine Yanfolila delivered 18,399 ounces in the third quarter, an increase of 9% year-on-year. This brings production for the first nine months of the year to 69,546 ounces, approximately 33% more than the same period in 2022. The mine owner aims to produce 80 to 90,000 ounces of gold at Yanfolila this year.

Source: Africa News Agency

Energy security: South Africa secures $1 billion loan from World Bank

The World Bank announced that it had granted South Africa a $1 billion loan to support strengthening energy security and the transition to a low-carbon economy. The funding will help facilitate the restructuring of the electricity sector through the separation of the operations of state-owned Eskom Holdings. The split of Eskom Holdings into three separate entities (generation, transmission and distribution) aims to restore profitability to the company and integrate more private electricity producers into the network.

Source: Africa News Agency

Telecoms: MTN Nigeria to pay $72.5 million in tax arrears

Following the verdict of the Lagos State Tax Appeal Tribunal, MTN Nigeria Communications to settle the sum of $72.5 million in tax arrears to the Federal Revenue Service (FIRS). This sum, corresponding to non-repayment, covers the period from 2007 to 2017. The dispute began in May 2018, when the Office of the Federal Attorney General published a report on certain tax declarations of MTN Nigeria for the financial years 2007 to 2017, particularly with regard to VAT and certain withholding taxes.

Source: Africa News Agency

Net banking income: CRRH-UEMOA figures up 1%

The net banking income (NBI) of the Regional Mortgage Refinancing Fund of the West African Economic and Monetary Union (CRRH-UEMOA), saw a slight increase of 1% at the end of the first half of 2023. The half-yearly activity report as of June 30, 2023, which was subject to limited examination by the auditors, indicates an NBI of 1.431 billion FCFA (2.289 million dollars) compared to 1.419 billion FCFA (2.270 million dollars) as of June 30, 2022.

Source: Africa News Agency

Economic zone in Egypt: Chinese industrial companies to invest $2.75 billion

The General Authority of the Suez Canal Economic Zone (SCZone) has signed four agreements with Chinese companies for the establishment of industrial projects worth a total of more than $2.75 billion in Egypt.

These agreements were signed during the New Silk Roads forum, which was held on October 17 and 18 in Beijing in the presence of representatives from 130 countries.

Source: Africa News Agency

Borrowing : Kenya seeks $334 million for infrastructure projects

To finance infrastructure projects, Kenya has issued domestic bonds worth 50 billion shillings ($334 million). Bonds with a maturity of six and a half years will be exempt from taxes, as provided for in the Income Tax Act. The issuance of this domestic bond is part of the measures planned by the government to cover a budget deficit of 4.4% during the 2023/2024 financial year.

Source: Africa News Agency

GDP: Togo targets 6.6% in 2023

After a fall in economic growth in 2020, Togo aims to reach 6.6% of real gross domestic product (GDP) in 2023 thanks to the achievement of the objectives of the government roadmap Togo 2025.

According to the economic outlook of Togo, real GDP is expected to grow at 6.6% in 2023, compared to 5.8% in 2022. Previously, real GDP stood at +5.5% in 2021 after +1.8% in 2020 compared to an average of + 5.1% over the period 2016-2019. The inflation rate fell to 6.6% in August 2023, compared to 8% in 2022.

Source: Africa News Agency

Energy transition: South Africa gets $676 million

To finance its energy transition plan, South Africa obtained $676 million in grants from rich countries, more than double the amount initially promised. The most industrialized country on the continent, where more than 80% of electricity currently comes from coal-fired power plants, concluded at the 26th United Nations climate change conference (COP26) a partnership for a just energy transition with France, Germany, the United States, the United Kingdom and the European Union.

Source: Africa News Agency

Egypt: $18 million investment in fiber optic cable production

The General Authority of the Suez Canal Economic Zone (SCZone) has signed an agreement to produce 2 million kilometers of fiber optic cables per year for an investment of $18 million. There are also plans to add 21,000 m2 to the Hengtong factory located in the industrial zone developed by the Chinese company Tianjin TEDA Group, near the Egyptian port of Ain Sokhna on the Red Sea.

Source: Africa News Agency

Ivory Coast: $10 million from South Korea in the rice sector

Second rice importer in Africa behind Nigeria, Ivory Coast is reducing the bill for its purchases. To this end, the country signed a contract to develop the production of improved rice seeds. The implementation of the Ivorian component of the K-Ricebelt is expected to mobilize a budget of 6.4 billion CFA francs ($10.3 million).

Source: Africa News Agency

Aimée Abra Tenu-Lawani: Kari Kari Africa, promoting traditional know-how and local products

“Pomedi Coco is the ancestor of Kari Kari Africa soaps. Its original name is “Pomedi” which means “family soap”. A household soap for your precious laundry, made with coconut oil and organic lemon litsea essential oil. The recipe is an ancestral one, handed down from mother to daughter, generation to generation, and used by Kari Kari to make her first soap.

This is how the organic skincare brand Kari Kari promotes its flagship products on social media. There is a story and a message behind each one.

The promotion of traditional know-how and local products is what has driven the success of the company, which was born in Togo in 2014 and has since expanded beyond the country’s borders. It is also the fruit of a passion inherited from its founder, Aimée Abra Tenu Lawani.

“The idea for Kari-Kari Africa was given to me by my father, who used to be a soap maker, as was the passion for entrepreneurship. It’s a great joy for our whole family to see our mother’s skills being revived through Kari-Kari Africa,” says the young woman, bridging with enthusiasm.

Aimée Tenu-Lawani has set up her business in the town of Kpalimé, 120 km from Lomé, producing fair-trade organic soaps, mosquito repellent oils and body balms.

The aim of the startup is to offer Togolese and African consumers in general handmade soaps and organic skincare made from vegetable oils. Aimée uses cold saponification to ensure that her soaps are superfatted and meet natural standards. “This preserves the benefits of vegetable oils and butters for the skin”.

An authentic soap factory in Togo

The Kari Kari Africa soap factory is a traditional artisanal soap factory,” explains Aimée. We mainly make black soaps and cold process soaps using traditional, ancestral processes. These are ancient processes that have crossed time and continents, and our soaps are produced to international cosmetic standards. He adds: “Kari Kari Africa is also at the forefront of research with a modern laboratory that combines tradition and modernity in terms of healthy, high quality cosmetics. We make the most of local raw materials such as shea butter, cocoa, precious vegetable oils such as palm kernel oil and natural additives, sourced from the best local suppliers – women’s and youth cooperatives in several Togolese and African locations – at fair prices”. For example, African black soap made from the ashes of plants such as cocoa pods. “Our raw materials are natural and/or certified organic and vegan. We’ve created our own formulas and improved the processes so that new generations can enjoy all these traditional wonders, our skincare, face and haircare and massage oils…”

These products are packaged in boxes made from recycled food grade paper. “For an even greener, waste-free action!”

Source: Africa News Agency

Digital inclusion: 4G phones for $17

n Rwanda A new range of 4G-enabled smartphones has been launched in Rwanda to accelerate the adoption of digital services in the country in partnership with the Rwandan government and American philanthropist Reed Hastings, co-founder and director of Netflix. The devices are sold at a unit price of 20,000 Rwandan francs ($16.42).

Source: Africa News Agency