E-commerce platform Afrikrea launches an on-demand software solution for micro-retailers

CÔTE D’IVOIRE – E-commerce platform Afrikrea has announced the launch of Anka, an on-demand software solution that will provide e-commerce, payments and global shipping services for thousands of micro-retailers. Launched in partnership with DHL and VISA will empower micro retailers and businesses on the continent and around the world, as it continues to power e-commerce for Africa. The launch of Anka (which means “ours” in Bambara and Djoula) coincides with the fifth anniversary of Côte D’Ivoire-based Afrikrea. The platform, a marketplace with more than 7,000 vendors selling African-inspired fashion, accessories,…

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Mastercard Foundation invests US$10m in IP2E to support education sector

WEST AFRICA – The Mastercard Foundation has partnered with Investisseurs & Partenaires (I&P) to invest US$10.5 million in its I&P Education to Employment (IP2E) Fund to support businesses in the education sector to recover from the impact of COVID-19. The 3-year investment program will accelerate 30 education entrepreneurs (edupreneurs) in Côte d’Ivoire, Ghana, and Senegal by addressing key challenges related to access, quality, and relevance faced within the sector. The education start-ups and SMEs will be selected based on their capacity to offer quality education and training, while promoting employability…

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Endeavour Mining to sell its 85% interest in Agbaou mine to Allied Gold

CÔTE D’IVOIRE – Endeavour Mining, a multi-asset gold producer focused on West Africa, has announced that it has entered into an agreement to sell its 85% interest in its non-core Agbaou mine in Côte d’Ivoire to Allied Gold for a consideration of up to US$80 million with further upside through its equity exposure and a net smelter return royalty. When the transaction closes, the Bonikro-Agbaou operation will comprise multiple openpits, and two processing plants with a total milling capacity of over five-million tons a year, producing a potential 285 000…

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Petroci, Sahara Energy to construct US$43M LPG storage facility to increase consumption autonomy

CÔTE D’IVOIRE – Petroci, Côte d’Ivoire’s national oil company, in partnership with Sahara Energy and under advisory of international law firm Gide and Ivorian law firm SCPA 3K, is set to construct a 12,000-metric ton liquefied petroleum gas (LPG) storage facility in Abidjan. The total cost of the project is 23.9 billion CFA francs (US$43 million) and will increase the storage capacity of LPG in the country by 60%, thereby increasing consumption autonomy from 15 to 27 days and securing domestic LPG supply. The project will thus promote the uptake…

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Petroci, Sahara Energy to develop US$43m facility to boost LPG supply in Côte d’Ivoire

COTE D’IVOIRE – Sahara Energy Logistics Holding Limited and Petroci holding have entered into a Joint Venture Agreement (JVA) to facilitate the construction of a Liquefied Petroleum Gas (LPG) storage facility to guarantee LPG supply security in the nation. Petroci Holdings is the national oil company of Cote D’Ivoire which is officially known as Société Nationale d’Opérations Pétrolières de la Côte d’Ivoire. According to a report by Business Day the new LPG facility would have a capacity of 12,000 Metric Tonnes of LPG and will be constructed at a cost…

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Côte d’Ivoire’s NSIA bank secures US$28m from IFC to help finance business worst hit by COVID-19

COTE D’IVOIRE— NSIA Banque Côte d’Ivoire (NSIA) has secured a one-year senior loan amounting to US$28 million (€25 million) the help the bank finance business that have been worst hit by the COVID-19 pandemic. With IFC’s support, NSIA, one of Côte d’Ivoire’s largest commercial banks, will increase its lending to traders, corporate clients and SME’s, despite contractions to the financial market caused by the COVID-19 pandemic. IFC’s project intends to help the bank provide working capital and trade-related lending to corporate and small and medium-sized enterprise (SME) clients over two…

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Moroccan companies, Palmeraie Developpement, INVIMO win housing project contract in Cote d’Ivoire

COTE D’IVOIRE – Moroccan housing operator “Palmeraie Developpement” has signed a convention with Cote d’Ivoire’s government to build 15,000 accommodations for Ivorian teachers. According to Morocco World News, Palmeraie Developpement will be part of a consortium of companies that will deliver new houses to Ivorian teachers. The signing of the contract was attended by several Ivorian officials, including Minister of Construction Bruno Kone and Minister of National Education Kandia Camara. The Moroccan Ambassador to Cote d’Ivoire, Abdelmalek Kettani, also took part in the contract signing ceremony. Moroccan based construction company…

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DHL appoints managers to strengthen West and North Africa leadership teams

WEST AFRICA – DHL Global Forwarding, a leading freight company, has strengthened its leadership teams in Burkina Faso, Cote d’Ivoire, Senegal and Morocco with new country manager appointments.  Lamine Junior Cisse will assume the dual role of country manager for Senegal as well as the region’s industrial projects commercial manager. He joins DHL from an international energy firm and takes over the country manager position from Elhadji Galaye Ndaw.  Ndaw has been tapped for his expertise in business development, sales and marketing to advance the business in Cote d’Ivoire for…

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GreenTec invests into Cote d’Ivoire waste-management start-up Coliba

IVORY COAST– Coliba, a startup that has developed a recycling and waste management platform, has raised funding from German firm GreenTec Capital Partners, which will also provide the company with hands-on assistance to help it scale. Coliba has developed a waste management web and mobile application that connects households and businesses with affiliated plastic waste collectors. The startup applies the principles of the circular economy to tackle the problem of plastic waste in Ivory Coast, allowing users to earn airtime or discounts on certain products by recycling. Its app tracks…

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Eranove wraps up financing for its 390 MW power plant in Côte d’Ivoire

CÔTE D’IVOIRE – The Pan-African industrial group Eranove, the International Finance Corporation (IFC), member of the World Bank Group, and the State of Côte d’Ivoire have signed the agreements and all the documentation for the mobilization of funding of US$44.64 million for the construction of a new power plant in Côte d’Ivoire. Financial mobilisation was carried out by the IFC from the African Development Bank (AfDB); the Deutsche Investitions- und Entwicklungsgesellschaft (DEG), a subsidiary of the Kreditanstalt für Wiederaufbau (KfW) Group and the German development agency. The Netherlands Development Finance…

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