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The pan-African Economy in Brief of 27/02/2017

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GHANA:
Signature of a Memorandum of Understanding between GCB Bank and the Attijariwafa bank: "The Royal Visit in Ghana was an opportunity for the Attijariwafa Bank and GCB Bank Ltd to sign, under the presidency of His Majesty the King Mohammed VI and "The Ghana State Nana Akufo-Addo, a Memorandum of Understanding, to reinforce their collaborative efforts in the area of Bank Correspondent, financing of investment, trade and more generally projects on the African continent ..."

SENEGAL:
Ibrahima Kane, the Managing Director of Fonsis: The project required 5 billion CFA investment: "The Prime Minister inaugurated in Biosoy, on Thursday, an agro-industrial project. The Fonsis that is carrying this project, along with its partners, wants, according to its Genaral Manager, to position Senegal as an agricultural champion to be recognized for its virtues and double-digit growth in export markets while participating in production Seed for our country. He announces other projects in hotels, tourism, transport, industry, health, energy and mining ... "

Road maintenance: 186 billion CFA for the three-year rolling program 2017-2019: "A fund of 186 billion CFA will be released for the financing of the Tri-annual Glissant program (2017-2019) for the maintenance of our itineraries. The administrator of the Autonomous Road Maintenance Fund (ARMF), Dr Papa Modou Ndiaye, made this revelation on the sidelines of the visit to the Aibd-Thiès and Thiès-Touba motorways that the Minister of Infrastructure, Land Transport and of the opening up again ... "


NIGERIA :
The government is calling for Parliament's approval to issue a new Eurobond of 500 million Dollar: "Yemi Osinbajo, the Vice-President and current Interim President of Nigeria, has submitted a request to Parliament for approval of the issuance of a" A new Eurobond of 500 million Dollar, according to a statement released in the 23rd February by the presidency. "After the strong subscription to the Eurobond of a billion Dollars recently issued, we want to take advantage of favorable market conditions to issue a new Eurobond of 500 million Dollars to finance the budget deficit," Osinbajo said in a statement. A mail addressed to the parliament ... "


ZAMBIA :
The Central Bank expects GDP growth of a 3.9% in 2017: "The economy of Zambia is expected to grow by a 3.9% this year and by a 4.6% in 2018," stated the bank's governor Central, Denny Kalyalya. "GDP growth is forecast at a 3.9 % in 2017 and a 4.6 % in 2018. Growth in 2016 is estimated at a 3.4 %," he told a press. Over the past year, the country has faced a decline in copper prices, energy deficit, rising inflation and a lack of government cash that has reduced investment in new projects ... "


CAMEROON :
A sum of 12 billion CFA were circulated on the Orange Money accounts in 2016: "The increase of the Cameroonian population's membership to mobile money is dazzling. While the Orange Money product launches in 2011, the subsidiary in Cameroon of the French telecom group Orange and the International Bank for Trade, Savings and Credit, BTSC, its partner in the Orange Money product; had expected a transaction volume of a sum of 2 billion CFA after 5 years, the final result is rather six times the of initial forecast ... "

A sum 843 billion CFA to be mobilized in 2017: "As a part of the 2017 Finance Act, a fiscal revenue mobilization target of 1,843 billion CFA has been allocated to the General Directorate of Taxes for 2017, of which 1 719 billion CFA in non-oil tax revenues, and 124 billion CFA in petroleum tax. The Minister of Finance is particularly concerned that our ability to mobilize resources continues to move towards the best international standards ... "

SODECTON will decrease by 10 000 tonnes during the 2016-2017 season: "Cotton production in Cameroon is expected to decline by around 10 000 tonnes during the 2016-2017 season. "The production forecast of the SODECOTON, the big part of agro-industry in the northern part of Cameroon, officially peaks at 248,150 Tons of cotton seed, compared with 258,000 Tons produced of the past campaign, " reveals the economic magazine Invest in Cameroon ..."


Ivory Coast :
The cocoa sector in difficulty: "IvoryCoast, the world's largest cocoa producer, will conduct an audit of its sector, shaken by a lack of harvest, causing recent demonstrations of planters' anger, Wednesday the government ... "
"A 83% of the national education budget in the Ivory Coast is devoted to wages" (Minister): "The Minister of National Education, Technical Education and Vocational Training, Kandia Camara, revealed , On Thursday, that ''83% of the state budget' 'dedicated to national education is'' devoted to wages' '. Ms Camara made this statement during the restitution of the educational component of the 4th World Bank report on the Ivorian economy to the partners of the national education, in particular, the local communities, the actors of the civil society, the kings and chiefs Traditional ... "

 

Crédit : IMPERIUM MEDIA