NIGERIA:
Imports of Wheat in Increase of 54% in the Last Quarter Compared to the Same Period in 2016: "In Nigeria, imports of wheat during the first quarter of the current year have increased by 54% to 201 million Dollars, compared to 130.9 million Dollars for the same period in 2016, according to the National Office of Statistics (NBS). According to the same source, this increase is attributable to a low level of high quality manioc flour (FMHQ) in the market, which is used as a complement in the production of wheat flour to reduce the use of wheat itself. According to Nike Tinier, who heads the association of actors in the cassava industry in Nigeria, the FMHQ is no longer supplied in large quantities to producers of wheat flour because the prices offered by the latter are too low. "They want us to buy the ton of FMHQ to 80,000 Nairas ($248), while we believe the double would be more profitable," affirms Tinier, explaining the rise in the price charged by a significant increase in the prices of raw cassava, from which the FMHQ is derived..."
Oil Traders Threaten to Suspend Distribution If the Government Does Not Pay the Arrears of Subsidies: "In Nigeria, traders of petroleum products, in a note to the federal government, threaten to stop the supply of these products on the territory if the executive does not repay arrears of import subsidies amounting to 2.2 billion Dollars. Traders explain that most of this debt comes from the interest owed to banks from which they borrowed to import fuel between 2014 and the first quarter of the current year. "Because of unpaid interest and the difference between exchange rates, we become insolvent, and this prevents us from continuing to operate profitably. Currently, outstanding maturity letters of credit exceed 1.2 billion Dollars," affirm the traders. Before proceeding: "Since the unpaid loans were mostly provided by local banks, the whole Nigerian bank system is threatened..."
MOZAMBIQUE:
The Chinese Companies Have Invested More Than 8.5 Billion Dollars in the Construction Sector: At the end of 2016, investments by Chinese companies in the construction sector in Mozambique reached 8.71 billion Dollars. The information was brought to the public by Xu Yingzheng, Secretary General of the forum Macao, during the "meeting on productive cooperation between China and Portuguese-speaking countries" in Maputo, the capital of Mozambique. Last April, the Macauhub agency had already published a list of three Chinese companies making investment proposals with the Mozambican Trade and Investment Agency. The Chinese company SC-Square Circle particularly intends to invest 2 million Dollars in the Boane district. The information site also refers to China Road & Bridge Corporation which plans to invest 4.2 million Dollars in building construction destined to administrative services, a shipyard, a mechanical park, warehouses, and dwellings for workers in the Marracuen quarter..."
KENYA:
The Kenyan Parliament Conditions the 750 Million Dollar Government Support Plan to Kenya Airways: "Solicited to rule on the legality of the Kenyan government's proposal to provide a 750 million Dollar guarantee, in order to expand the debt capacity of Kenya Airways, the members of the parliamentary committee in charge of financial, commercial, and planning matters did not manage to find a deal. The discrepancies concern the legality of the use of airplanes obtained on leasing to guarantee the debt of the airline company due to several foreign and domestic banks. Government officials and Kenya Airways arrived in parliament on Wednesday to defend their plan..."
TANZANIA:
Volt Resources Concludes a Cooperation Agreement on the Namangale Project: "The mining company Volt Resources has signed a cooperation agreement with China National Building Materials General Machinery (CNBMGM) to develop its graphite project in Namangale, Tanzania. The agreement will allow CNBGMG to become a partner in the extraction of graphite produced on the mine. The Chinese company will help Volt in the engineering and construction works, while facilitating project financing and credit insurance for both stages of development. The volume of graphite to be delivered annually to CNBMGM during the first stage could be between 10,000 tons and 15,000 tons annually."
Crédit : IMPERIUM MEDIA
