Commodity traders

Morocco
Compagnie Minière de Touissit terminates Glencore contract

Shortly after the ousting of Luc Gérard Nyafé, the new management of the Compagnie Minière de Touissit, led by Abdellah Mouttaqi, reached an amicable agreement to end its exclusivity deal with the Swiss trader Glencore.

Ghana
Why IFC is supporting cocoa trade via local bank

The International Finance Corporation, the World Bank’s private investment arm helmed in Africa by the Franco-Portuguese Sérgio Pimenta, is due on 17 February to consider a $40m loan to Societe Generale Ghana, a 57%-owned subsidiary of the French bank Société Générale.

Kenya
Power struggle looms as Kenya's tea task force tackles unsold stock

President William Ruto's administration has set up a task force to find the causes of Kenya's unsold tea and how to fix the crisis. Not everyone shares the views of Tea Board of Kenya chair, Jacob Kahiu.

Ivory Coast
Swiss trader Oryx Energies signs huge deal on Baleine oilfield with PETROCI

The agreement is worth several hundred million dollars.

Africa
Fresh start for Trafigura's former oil trading director for Africa

New energy trading firm Kaskara Commodities is currently shopping for investors with the aim of going public in the coming weeks.

Ghana, Ivory Coast
International Finance Corporation mulls major loan to Swiss cocoa trader Ecom

The sum in question is $230m.

Morocco
Rusgrain Union aims to cultivate Moroccan grain importers during Casablanca visit

Representatives of the Russian Union of Grain Exporters and Producers expressed their determination to see the Moroccan market's last barrier to entry lifted.

Ivory Coast
Ouattara abolishes tax exemptions for multinational cocoa manufacturers operating locally

Multinationals that own cocoa bean processing plants in Ivory Coast will no longer benefit from a tax exemption on the droit unique de sortie (DUS, single exit tax), the main state tax on exports.

Nigeria
Cocoa industry relieved at delay in EU anti-deforestation regulation

The Nigerian cocoa market, which is made up of small-scale producers and is largely deregulated, fears the impact of the European legislation on its exports. The industry is trying to rally support for its cause.

Ivory Coast
Sidi Mohamed Kagnassi well placed to buy Ivoire Coton

He is set to acquire one of the flagships of Industrial Promotion Services West Africa.

The New Guard
Algeria, Kenya, Cameroon

Every Wednesday, Africa Intelligence spotlights a new generation of movers and shakers in business and politics.

AlgeriaHamed Oussama Salhi, spokesman for national grains interests

KenyaBrian Wesaala, football's steadfast champion

CameroonYann Gwet, connecting youth across Africa