Topic · Baobab Pulse
Business
Markets, trade, and the African corporate landscape.
Must Read
🇿🇦The Citizen·4 hours ago
PIC CEO Patrick Dlamini suspended amid whistleblower allegations
The Public Investment Corporation PIC Board has placed its Chief Executive, Patrick Dlamini, on precautionary suspension following a whistleblower report submitted last month. This decision, announced on Monday, comes after weeks of internal disagreements and allegations of impropriety. The PIC, which manages the pension savings of 1.3 million civil servants, has faced scrutiny over governance and financial losses from politically connected investments, with approximately R67 billion invested in nearly 150 unlisted entities since 2005, and at least 78 of these experiencing losses. Finance Minister Enoch Godongwana reportedly clashed with PIC Chair David Masondo over the handling of a report commissioned by Dlamini and a subsequent whistleblower tip-off. PIC spokesperson Sipho Mofokeng stated that the suspension provides Dlamini space to respond to allegations and ensures a fair investigation, emphasizing it does not imply wrongdoing. Interim arrangements for an Acting CEO are being finalized. Additionally, the Board announced leadership changes in its investment division, with August Van Heerden ceasing to serve as Acting Chief Investment Officer. Leon Smit, Head for Fixed Income in Listed Investments, will be appointed as Acting CIO. Smit, who joined the PIC in 2000, has previously acted as CIO and holds a Bachelor of Commerce in Business Economics from the University of Pretoria, along with advanced qualifications in Treasury Management, Financial Markets, and FAIS. The PIC
2 min read
🇳🇬Punch Nigeria·6 hours ago
NAMA and NCAA dispute ticket levy sharing formula
The Nigeria Airspace Management Agency and the Nigeria Civil Aviation Authority are in a dispute over the sharing formula for the five percent Ticket Sales Charge. A proposal before the National Assembly seeks to increase NAMA's share, leading to concerns from NCAA labor unions that this could weaken safety oversight. However, industry experts argue that NAMA, responsible for operating Nigeria's aviation infrastructure 24/7, carries a significant operational burden. NAMA's responsibilities include maintaining sophisticated Communication, Navigation and Surveillance technologies, which require substantial capital investment and continuous maintenance, often in remote areas with unreliable electricity. Retired pilot Mohammed Badamosi highlighted NAMA's larger workforce and extensive equipment maintenance across the country, contrasting it with NCAA's smaller regional offices. Currently, NCAA receives about 56 percent of the Ticket Sales Charge, while NAMA receives 23 percent. The Joint Action Committee of the NCAA suggests commercializing or partially privatizing NAMA as a more sustainable funding solution. However, proponents of the bill argue that stronger statutory funding is immediately needed. Former Commandant of the Murtala Muhammed International Airport, Group Captain John Ojikutu, called for a rational review of the revenue-sharing formula based on objective parameters like personnel strength, operational spread, and infrastructure ownership, rather than sentiments or
14 min read
Must Read🇳🇬Punch Nigeria·6 hours ago
World Bank warns of fragile global food supply
The World Bank has issued a warning about the fragility of the global food system, despite adequate overall supplies. The June 2026 Food & Nutrition Security Update highlights vulnerabilities stemming from rising input costs, geopolitical tensions, and climate threats, which could undermine progress in poverty reduction. Global food supplies are sufficient, but higher costs and supply chain disruptions continue to pressure prices, and major cereal production is expected to decrease from 2025 levels. Fertiliser prices increased by 35 percent in the first five months of 2026 compared to the previous year, potentially impacting future harvests due to reduced application by farmers. An impending El Niño cycle, with a 61 to 87 percent probability of emerging by mid-2026 and persisting into 2027, could reduce rice output by 20 to 50 percent in vulnerable regions like South Asia, Southern Africa, and parts of East Asia. Domestic food price inflation remains high globally, with low-income countries experiencing a deterioration; the share of these countries with food inflation above five percent rose from 40 to 45 percent between April and May 2026. Conflict-ridden and climate-stressed areas are most affected, with 44 to 47 million people in East Africa needing urgent food assistance, and famine confirmed in parts of Sudan with risks in Somalia. The World Bank projects a 38 percent rise in overall fertiliser prices for the year, emphasizing that these pressures risk reversing gains in
9 min read
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🇳🇬Punch Nigeria·7 hours ago
Artificial intelligence and the evolving value of human competence
Artificial intelligence is fundamentally changing the value of human competence by reducing the cost of producing knowledge while increasing the importance of judgment. Historically, expertise was linked to access to information and experience, which required significant effort and time. AI now allows for rapid generation of business strategies, literature reviews, campaign concepts, and financial report summaries across various industries, making the mechanics of knowledge production significantly easier. However, the ability to evaluate knowledge and exercise sound judgment becomes more valuable. While AI democratizes access to intelligence, it does not democratize competence, which is built through exposure to uncertainty, decision-making with incomplete information, and understanding consequences and trade-offs. AI excels at pattern recognition and predicting statistically likely responses, but prediction differs from judgment. Judgment determines appropriateness, decides if history applies, and accepts responsibility for choices, whereas prediction identifies probability and generates possibilities. Context, which includes timing, culture, stakeholder expectations, and individual circumstances, remains a crucial and less transferable dimension of intelligence. The fluency of AI's communication can be mistaken for sound reasoning, making the ability to distinguish between the two a critical professional skill. AI also makes expertise less visible but more valuable, shifti
11 min read
Must Read🇳🇬Punch Nigeria·7 hours ago
Dangote Refinery transitions to dollar-denominated petrol sales, ending naira payments
Dangote Petroleum Refinery has set new ex-depot prices for Premium Motor Spirit petrol at $0.779 per litre, marking a shift to dollar-denominated transactions for refined products. This change, effective Monday, July 13, 2026, also updates prices for Automotive Gas Oil diesel to $1.087 per litre and Aviation Turbine Kerosene to $0.942 per litre. Coastal deliveries of petrol are now fixed at $1,044.62 per metric tonne. The refinery informed petroleum marketers and customers that all previous naira-denominated Proforma Invoices and Deal Recaps are invalid. This move aims to align product sales with the currency used for crude oil procurement, as the refinery increasingly receives dollar-denominated crude supplies from the Nigerian National Petroleum Company Limited. The transition is expected to impact petroleum marketers and influence fuel pricing in Nigeria's deregulated downstream sector, with the eventual retail pump price depending on the naira-to-dollar exchange rate, logistics, and other costs. The new pricing structure does not apply to Liquefied Petroleum Gas transactions.
3 min read
🇨🇮Abidjan.net·11 hours ago
BRVM soars, driven by banking sector and cocoa price surge
The Bourse Régionale des Valeurs Mobilières BRVM experienced a significant rise, primarily fueled by the banking sector and the escalating price of cocoa. This economic uplift for the week of June 29 to July 3, 2026, follows a period of robust performance for the BRVM, with previous reports highlighting a record week and solid prospects for investors. The BRVM30 also showed progression in earlier weeks. This positive trend has been observed over several months, with the BRVM consistently remaining in the green. The market has also seen significant activities, including the successful continuity exercise of its activities through its IT backup site, the admission of three Burkina Faso bond issues totaling over 131 billion FCFA, and Senegal raising 416 billion FCFA in a record bond operation. Additionally, Africa50 and the BRVM have partnered to boost infrastructure financing in West Africa, and the 6th edition of the BRVM Awards was celebrated in Cotonou, where the International Bank for Industry and Commerce of Benin BIIC was admitted to the BRVM's listing.
7 min read
🇱🇾Libya Herald·12 hours ago
Benghazi reconstruction committee meets with Turkish, Italian, British, and Polish companies for redevelopment projects
The Committee for the Reconstruction of Benghazi Centre and al-Sabri RBCS, part of the Libya Development and Reconstruction Fund, held multiple meetings in July with international companies regarding the Benghazi redevelopment project. The RBCS met with Turkish company NKY to discuss progress and technical proposals for the Benghazi Waterfront Development Project, focusing on design updates and architectural solutions. Another Turkish company, IRIS, visited project sites to understand the area's character and assess existing buildings for restoration, including historic structures. RBCS Chairman Mohamed Al-Hassadi met with Filippo Colombo, Consul General of Italy in Benghazi, and representatives of Italian company FIMA to discuss the restoration of historic buildings with Italian architectural character, aiming to preserve their identity and rehabilitate them to international standards. The committee also met with British company P+P to discuss the area's master plan, investment opportunities, and potential development sites, focusing on creating an attractive investment environment. Additionally, the RBCS held meetings with Polish company APA and Turkish company On Tasarim to review progress, discuss design updates, and technical modifications for the Benghazi Waterfront Corniche Project, ensuring integrated design solutions and adherence to high technical standards.
3 min read
🇬🇦Gabon Review·13 hours ago
Gabon places three companies among future candidates for CEMAC stock exchange listing
The Financial Institutions Reform Management Unit UGRIF of the Economic and Monetary Community of Central Africa CEMAC announced on July 10 the results of its call for expressions of interest, launched in March, as part of the Project to Strengthen the Capacities of Regional Financial Institutions. Three Gabonese companies, Samb'a Assurances, Gabon Power Company GPC, and Façade Maritime Champ Triomphal FMCT, are among the four selected to receive support for their introduction to the Central African Securities Exchange BVMAC. The fourth company is Cameroon Hotel Corporation from Cameroon. This initiative aims to boost the regional financial market by increasing the number of listed companies and encouraging the use of capital market financing. The selection process involved opening and analyzing applications received on April 30, 2026. The project, co-financed by the Bank of Central African States BEAC, the BVMAC, the Central African Financial Market Supervisory Commission Cosumaf, and the African Development Bank AfDB, seeks to remove the significant barrier of high initial public offering costs for candidate companies. Samb'a Assurances is recognized for its digital micro-insurance for informal sector workers and low-income populations. Gabon Power Company, a subsidiary of the Gabonese Strategic Investment Fund FGIS, is developing a portfolio of energy projects, aiming to mobilize 40 to 50 billion CFA francs on the regional market. Façade Maritime Champ Triomphal, also back
5 min read
Must Read🇬🇦Gabon Review·13 hours ago
Gabon higher education audit reveals over 1 billion FCFA discrepancy, government refers case to justice
Gabon's Minister of Higher Education, Professor Charles Edgard Mombo, announced on July 13, 2026, the findings of an audit into payments for temporary teaching assignments in public higher education institutions. The audit, conducted by the Ministry of Economy and Finance under instructions from President Brice Clotaire Oligui Nguema, revealed a discrepancy of over 1 billion FCFA. While the twelve public higher education institutions declared a debt of 3.488 billion FCFA, only 2.428 billion FCFA were deemed compliant after verification. The audit examined beneficiaries, actual hours worked, and the conformity of rates for nearly 5,700 faculty and staff. The government confirmed that payments for compliant assignments would continue and that the audit report would be sent to the Ministry of Justice to establish accountability for the irregularities. Regarding the University of Science and Technology of Masuku USTM, where faculty are currently on strike, Professor Mombo stated that a first payment of over 700 million FCFA has been made available from the Treasury towards a total debt of 1.206 billion FCFA. The government is also revising a decree from March 7, 2023, to standardize hourly rates and eliminate disparities among institutions, aiming to restore credibility to Gabon's higher education system through rigorous management of public resources.
2 min read
🇳🇦The Namibian·13 hours ago
Construction Industries Federation challenges Ohorongo-Cheetah cement merger approval
The Construction Industries Federation of Namibia CIF has called for the withdrawal of the Ohorongo-Cheetah cement merger, citing threats to competition and local contractors. This follows industries, mines and energy minister Modestus Amutse's decision to overturn the Namibia Competition Commission's NaCC ruling that had blocked the transaction. Whale Rock, owner of Cheetah Cement, applied to acquire all shares of Schwenk Namibia, which owns Ohorongo Cement, in February. The CIF argues the approved merger could increase cement prices, jeopardize supply security, harm local contractors and small and medium enterprises SMEs, and negatively impact the broader construction value chain. While the minister's decision, published in Government Gazette notice No 229 of 2026, allows the merger with conditions to prevent job losses, preserve local production, and limit market dominance, CIF chief executive Bärbel Kirchner states these conditions do not address key concerns such as price monitoring, fair market access, and protection against discriminatory pricing. The federation seeks to have the approval withdrawn and implementation suspended for broader stakeholder consultation and a comprehensive assessment. NaCC spokesperson Dina //Gowases confirmed the minister acted within his legal mandate, rejecting claims of conflict. The Otavi Cement Group also opposes the merger, arguing it would significantly increase market concentration and create a dominant market position detrimental to
2 min read
🇲🇦Le Matin·14 hours ago
Royal Air Maroc to offer record 8.2 million seats this summer
Royal Air Maroc will deploy nearly 8.2 million seats during summer 2026, marking a 23% increase year-on-year. The national airline will connect Morocco to 86 international destinations using a modernized fleet of 67 aircraft.
5 min read
🇨🇮Abidjan.net·14 hours ago
Cotton and Cashew Council supports CACC-CI's agricultural processing project
The Cotton and Cashew Council CCA met with CL2D AFRICA and the Agricultural Consortium of Cooperative Societies of Côte d'Ivoire CACC-CI on Friday, July 10, 2026, in Abidjan-Plateau. This meeting established the foundation for a partnership aimed at strengthening the marketing of agricultural products and accelerating local processing within the sector. Gué Simplice, Director of Information Systems, Studies, and Foresight for the Cotton and Cashew Council, expressed the council's commitment to supporting CACC-CI's objectives, particularly in product commercialization. Discussions focused on strategic areas including obtaining necessary approvals for the consortium's activities, possibilities for duty exemptions on productivity-enhancing materials and equipment, and technical support for producers with assistance from development partners, donors, and Ivorian financial institutions. The meeting also marked the official launch of the first phase of the consortium's certification process. This is a prerequisite for implementing an ambitious project to establish processing units across 19 production sites. The goal is to promote local processing of agricultural products, create jobs, and enhance the competitiveness of the Ivorian agricultural sector. This initiative aligns with Côte d'Ivoire's National Development Plan PND, which prioritizes structural economic transformation, industrialization, and strengthening agricultural value chains. It reflects the stakeholders' desire to
9 min read
🇪🇬Egypt Today·15 hours ago
Egypt's Prime Minister reviews progress on state asset divestment program
Prime Minister Mostafa Madbouly chaired a meeting to monitor the progress of Egypt's state asset divestment program, part of the second edition of the State Ownership Policy document for 2026-2030. The program aims to increase private sector participation, maximize returns on state assets, improve management, attract investments, and strengthen business confidence. The Prime Minister noted that 20 of the 30 companies announced under the government's initial public offering program have secured temporary listings on the Egyptian Exchange, with procedures underway for four more. These include 10 companies from the petroleum sector and 10 from the public business sector. Temporary listing is the first step, followed by valuation studies, registration with the Financial Regulatory Authority, and final listing and trading. The government plans to begin registration of the first temporarily listed companies with the regulator before year-end. The Deputy Prime Minister for Economic Affairs discussed the institutional framework for implementing the State Ownership Policy, while the Investment Minister reviewed preparations for offering a stake in Misr Life Insurance.
2 min read
Must Read🇬🇭GhanaWeb·15 hours ago
EOCO investigates former IMCCoD officials over GH¢55 million financial irregularities; one suspect begins returning funds
The Economic and Organised Crime Office EOCO has announced the arrest of Dennis Edward Aboagye, former Executive Secretary of the Inter-Ministerial Coordinating Committee on Decentralisation IMCCoD, and Gerald Appiah, former Accountant of the same institution. They are being investigated for suspected misappropriation, misapplication, diversion, and theft of approximately GH¢55 million in public funds. Gerald Appiah has voluntarily started returning funds connected to the alleged crimes, though EOCO emphasizes that these repayments do not conclude the investigation or absolve any suspect. The arrests stem from an investigation initiated by a petition from the current IMCCoD Executive Secretary, following a forensic audit covering August 1, 2022, to February 2, 2025. Both individuals face charges including conspiracy to steal, stealing, using public office for profit, causing financial loss to the state, dissipation of public funds, defrauding by false pretenses, and money laundering. Aboagye is expected to be granted bail, and Appiah is completing bail conditions for release as investigations continue.
2 min read
🇲🇦Le Matin·15 hours ago
Bank Al-Maghrib and Ministry of Agriculture collaborate on data sharing for economic forecasting
Bank Al-Maghrib BAM and the Ministry of Agriculture, Maritime Fisheries, Rural Development, and Water and Forests signed a partnership agreement in Rabat. The agreement, signed by Bank Al-Maghrib Wali Abdellatif Jouahri and Minister of Agriculture Ahmed El Bouari, aims to formalize data, information, and study exchanges between the two institutions. This collaboration will enhance economic statistics and forecasts for the agriculture, maritime fisheries, and water and forests sectors. The partnership also includes joint studies and research on common interest themes to support decision-making and public policy development. Additionally, it features a component for skills development, with training programs in statistics, economic analysis, and foresight for employees of both institutions.
1 min read
🇹🇳Business News·16 hours ago
Tunisia ranks 110th globally in responsible AI index, lags behind African and regional peers
Tunisia ranks 110th out of 135 countries and jurisdictions in the 2026 Global Index on Responsible AI GIRAI, scoring 16.37 out of 100. This places Tunisia significantly below the global average of approximately 35 points and far behind European nations that lead the ranking. The index assesses public authorities' capacity to regulate AI, protect fundamental rights, ensure system transparency, and establish oversight and recourse mechanisms, rather than technological development or company performance. The data for the report covers November 1, 2023, to September 30, 2025. Tunisia's scores across the five dimensions of AI governance are: 19.22 for inclusion and diversity, 9.61 for ethics and sustainability, 13.46 for labor and skills, 23.52 for trust and security, and 16.04 for AI use in public services. Trust and security is the highest-rated dimension, while ethics and sustainability is the lowest. The country received a zero score for civil society engagement in AI governance. General conditions for responsible AI development, such as institutional, legal, and technical capacities, scored 49.22 out of 100. These results indicate that while Tunisia has some favorable conditions, they have not yet translated into effective public policies or control mechanisms. Globally, Norway leads the index with 75.26 points, followed by Italy 72.71 and Ireland 71.39. France is fourth 70.32, the Netherlands fifth 69.51, and Germany sixth 68.98. The UK is seventh 67.27, followed by Slovenia
6 min read
🇳🇦The Namibian·16 hours ago
Digital disruption impacts media houses globally, prompting calls for corporate support
Media organizations worldwide are experiencing financial strain due to the digital transformation of news consumption and funding models. Nangula Shejavali, representing the Namibia Media Trust board, stated in Windhoek that the current media model is under significant pressure. She highlighted that digital disruption has altered information consumption, global platforms aggressively compete for advertising revenue, and misinformation spreads rapidly, often overshadowing verified reporting. Shejavali emphasized the increased need for quality journalism, as digitalization allows widespread content publication. She noted that trusted journalism serves as a reliable source for facts and accountability. Consequently, Shejavali called for corporations to support media houses. During the same event, The Namibian editor Johnathan Beukes announced the introduction of 'Good News' pages in the newspaper's daily coverage, aiming to highlight positive community and national initiatives. Shejavali expressed enthusiasm for this initiative, underscoring the importance of sharing positive stories.
3 min read
🇳🇦The Namibian·16 hours ago
Anirep triples solar power output, boosts revenue, and plans further expansion
Alpha Namibia Industries Renewable Power Limited Anirep significantly expanded its solar generation capacity, nearly tripling electricity output from 23.1GWh to 68.1GWh in the 2026 financial year. This increase followed the commissioning of the 25MWp Moses Mague Garöeb Khan Solar PV Plant and refurbishment at the Otjiwarongo Solar PV Plant, raising installed capacity from 13MWp to 38MWp. Electricity sales rose by 60% to N$62.1 million, and total revenue increased by 36% to N$95.4 million. Gross profit climbed 43% to N$81.4 million, with operating cash flow turning positive at N$15.1 million. Recurring electricity sales, underpinned by long-term power purchase agreements with Namibia Power Corporation and Central North Regional Electricity Distributor until 2051, now account for 65% of total revenue. Despite a N$40.2 million non-cash impairment related to goodwill and power generation assets, the company states this accounting adjustment does not affect plant performance or cash generation. Managing director Iyaloo Ya Nangolo noted that the company's renewable energy platform has reached commercial scale and is now a cash-generative business. Anirep plans further expansion, including a 7.69MWp addition to its Otjiwarongo Solar PV Plant and Namibia’s first utility-scale 2MW/10MWh Battery Energy Storage System, which will increase installed capacity to approximately 46MWp and enhance grid stability.
2 min read
🇳🇦The Namibian·16 hours ago
Namibia's economic growth hinges on innovative business models beyond traditional industries
Namibia's long-term economic growth and job creation depend on innovative business models, not just natural resources. While economic diversification is a national priority, progress in moving beyond traditional value creation methods has been slow. The economy has historically relied on resource-based industries like mining, agriculture, and fishing, which, despite contributing to national income, create vulnerabilities to external shocks and limit opportunities. Business model innovation involves redesigning how organizations create, deliver, and capture value, encompassing rethinking, problem-solving, customer experience, revenue generation, partnerships, technology use, and operational processes. Globally, successful organizations often have innovative business models, exemplified by companies like Amazon, Alibaba, and Airbnb. In Namibia, many entrepreneurs pursue saturated ventures such as bars, construction, cash loans, or logistics, which offer limited differentiation. Opportunities exist in addressing unresolved challenges faced by individuals, businesses, and communities. Entrepreneurs should focus on identifying genuine problems and developing sustainable, value-creating solutions, as financial returns follow when customers value the solutions provided. The main challenge is not funding availability, but a shortage of innovative and differentiated business ideas. Similar business models create little value differentiation, making it hard to attract investors seeking
2 min read
🇲🇦Le Matin·16 hours ago
Morocco joins Mastercard's Priceless experiences platform, expanding unique African travel opportunities
Mastercard has launched Priceless Africa, a platform that allows cardholders to access unique travel experiences across the continent, with Morocco now included. These experiences are categorized by passion points such as culture, gastronomy, nature, wildlife, and adventure, enabling travelers to explore their interests safely and easily. Mastercard also offers travel benefits including hotel and flight discounts, airport lounge access, and seamless booking on major travel platforms, car rentals, and e-hailing services. This initiative comes as African tourism experiences significant growth, with the continent welcoming 81 million international tourists in 2025, an 8% increase from the previous year, according to UN Tourism. Ahmed Abdel-Karim Hussein, Executive Vice President of Marketing and Communications for the Eastern Europe, Middle East, and Africa EEMEA region at Mastercard, stated that Priceless Africa aims to connect people with their passions and the extraordinary spirit of the African continent through authentic and unforgettable experiences, supported by secure and seamless Mastercard payment options. Examples of available experiences include a hot air balloon safari in Amboseli National Park, a candlelit ceremony at Cape Coast Castle, gorilla trekking in Rwanda's Volcanoes National Park, and a Bedouin dinner in Morocco's Agafay stone desert. The platform also features adventures like climbing Le Morne Brabant in Mauritius, a dhow trip in Zanzibar, rhino tracking
3 min read
Must Read🇪🇹The Reporter Ethiopia·17 hours ago
National Bank of Ethiopia lifts credit growth cap, eases forex surrender rules
The National Bank of Ethiopia NBE has removed the credit growth cap for commercial banks, nearly three years after its introduction in August 2023. This decision follows a Monetary Policy Committee meeting, where regulators noted a successful transition to an interest-based policy framework. The cap, initially set at 14 percent to curb inflation, was later adjusted to 18 percent in December 2024 and 24 percent in September 2025. Although inflation has eased due to economic reforms and forex market liberalization from mid-2024, the NBE anticipates continued double-digit headline inflation for the next six months, partly due to the Middle East conflict. In response, the NBE is increasing its policy rate by one percentage point to 16 percent as a counter-tightening measure. Additionally, the central bank is reducing the forex surrender requirement for goods exports from 50 percent to 30 percent to boost export competitiveness and market confidence. The NBE's forex commission rate has also been lowered by one percentage point to 1.5 percent.
1 min read
Must Read🇩🇿Algérie360·17 hours ago
Gara Djebilet megaproject: Algeria's South-South water transfer engineering studies near completion
Engineering studies for Algeria's 1,400 km South-South water transfer project, designed to link Timimoun to Tindouf and supply the Gara Djebilet mining complex, are entering their final phase. This project is crucial for water security and industrialization in Algeria's Southwest. The engineering firm announced that the final phase, which includes topographic surveys, geotechnical soil investigations, and detailed study development, is 70% complete. Farid Djilali, director of the engineering firm, stated that the first two phases, involving data collection, solution identification, and technical option definition, are finished, and the project is on schedule. The studies are expected to conclude by the end of August, paving the way for administrative and technical procedures before construction begins. The main pipeline will span 1,300 to 1,400 kilometers, making it one of the country's longest water transfer conduits, complemented by a 600 km secondary network. The route originates from Ihraran in Ougrout Timimoun wilaya, crosses Béni Abbès and Béchar wilayas, and reaches Tindouf and the Gara Djebilet region. Three pumping stations will be built in Béni Abbès to maintain hydraulic pressure. This water transfer is vital for the Gara Djebilet iron ore deposit, which holds over 3.5 billion tons of iron ore. The project, set to launch in 2025, aims to reinforce drinking water supply for local populations, support agricultural development, and meet the substantial water needs of
4 min read
🇿🇼NewsDay Zimbabwe·17 hours ago
Three Dairibord shareholders consider selling controlling stake to undisclosed buyer
Three major shareholders in Dairibord Holdings Limited, Equivest Asset Management Pvt Ltd, Mega Market Pvt Ltd, and Mutare Mart & Exchange Pvt Ltd, are reportedly in negotiations to sell their combined 51% stake in the company. Dairibord, Zimbabwe's largest dairy and beverages group, issued a cautionary statement advising shareholders and the public to exercise caution when trading its stock, as a successful transaction could significantly impact the share price. The statement did not disclose the identity of the prospective buyer, the proposed purchase price, or whether the negotiations are exclusive. This development follows Dairibord's recent announcement of its intention to delist from the Zimbabwe Stock Exchange and subsequently list on the US dollar-denominated Victoria Falls Stock Exchange VFEX. It remains unclear if these two transactions are linked. Dairibord reported a 12-month revenue of US$137 million as of December 31, 2025, with profit margins at 1.4%, a decrease from 4.2% in the previous year.
5 min read
🇱🇾Libya Herald·18 hours ago
Libyan Business Council to host presentation on Pure Core project for local activated carbon production
The Libyan Business Council LBC will host a presentation on the Pure Core project, which aims to produce activated carbon locally from agricultural resources and waste. The LBC states this initiative aligns with its commitment to sustainable projects that offer positive environmental impact, economic diversification, and local resource utilization. The presentation, scheduled for Thursday, July 16, at the LBC's Tripoli headquarters, is open to members including business owners and companies in the date and palm sectors, various industries, health, water treatment, solar energy, and oil and gas. It will cover the project's concept, technologies, and investment opportunities. The Pure Core project was selected by the Hult Prize platform as one of 80 projects from approximately 18,000 global entrepreneurial submissions. Activated carbon has diverse industrial applications, including water treatment, juice production, and the manufacturing of filters and disinfection products, alongside other industrial, health, and environmental uses.
1 min read