Al Quds Trump

Ghana: A gold board to boost earnings, struggle against smuggling

Ghana is set to establish a Gold Board to better regulate gold purchases from small-scale miners, aiming to increase national earnings and reduce smuggling, Reuters reported. The initiative, announced by the newly appointed Finance minister, Cassiel Ato Forson, is designed to help the country, Africa’s leading gold producer, optimize the benefits from its gold exports […]

Turkey announces 20 bln barrel oil field discovery in East Africa

Turkish explorations offshore Somalia led to the discovery of commercially viable crude oil, estimated at 20 billion barrels. Turkey and Somalia had signed a deal under which Turkey controls 90% of oil and gas output rights. The deal triggered criticism for its unfavorable terms for Somalia, a war-torn and cash-strapped country. Somalia’s President Hassan Sheikh […]

AfDB commits $303m for Mauritania-Mali electricity interconnection project

The African Development Bank (AfDB), through its African Development Fund (ADF), has approved a $303 million loan for the building of a 1,500 km-long power line interconnecting Mauritania and Mali, as part of the Desert to Power Initiative. The project requires $888 million and involves the construction of a 225 kV high-voltage line between Mali […]