IVORY COAST:
An Increase of 19% in the Arrivals of Cocoa Cargoes on June 25: "The arrivals of cocoa cargoes in the Ivorian ports of San Pedro and Abidjan have shown a growth of 19% compared to last year, reaching 1,689,000 tons on June 25. This was reported by Reuters, which mentioned estimates of bean exporters. According to data from June 19 to 25, 19,000 tons of brown gold were shipped towards ports, compared to 20,000 tons in the same period a year earlier. This slight decrease of 1,000 tons could be explained by the one-week blocking of the road network leading to the port of San Pedro due to heavy precipitation that has hit certain regions of production..."
KENYA:
Kenya Wants to Produce 500,000 Tons of Tea by 2020: "In Kenya, the authorities intend to harvest 500,000 tons of tea by 2020, compared with 473,000 tons produced in 2016. Speaking to Bloomberg, Samuel Ogola, number one of the directory of tea in the country, has explained that this growth in production should be mainly achieved by replacing the former low-yielding tea-plants with high-yielding "Clonal" tea in farms. "In addition, the Government is facilitating the participation of small tea processing and packaging companies at international trade fairs to increase sales," indicates the director. "10 companies have been certified. Among those, 3 already process their products and export them to foreign customers," adds Mr. Ogola. If the target envisaged by the government, by 2020, should contribute to strengthen the country's status as the world's largest exporter, it would not allow to improve its current rank of the third world producer of leaf, behind India and China..."
SENEGAL:
IMF Is Satisfied with the Progress Made Within the Framework of the Economic and Financial Program 2015-2018: "This Monday, the International Monetary Fund (IMF) welcomed the progress made in the implementation of the reforms provided by the Economic and Financial Program 2015-2018, according to a statement from the Senegalese Ministry of Finance. Supported by the Instrument of Support for Economic Policy (ISPE), this program without financial assistance from the IMF aims to maintain robust growth in Senegal through profound economic reforms. According to the ministry, this endorsement of the institution testifies to the confidence of the international community and illustrates the frank support of the technical and financial partners for the new economic and social development strategy, the Emerging Senegal Plan. Higher growth of 6.5% over the past two years, a low inflation, a constantly declining budget deficit (4.2% of GDP in 2016), establishment of high-quality infrastructure, and improvement of business environment are all enlightening factors for the second economy of WAEMU, according to the IMF..."
BENIN:
World Bank Allocates 60 Million Dollars to Improve Energy Performance: "The World Bank has just granted Benin a loan of 60 million Dollars (34.6 billion CFA Francs) in order to improve its energy performance. This funding was provided as part of the development assistance facility established by the International Development Association (IDA), a member of the group, and which provides loans at a very low rate, or even none to the poorest countries. It will be used to improve the performance of the Benin Electric Power Company (SBEE) in charge of electrical distribution in the country. The latter will thus be able to improve its operational performance by reducing its technical and commercial losses, put in place a roadmap for a gradual and sustainable development of the sector, and maintain a positive momentum in the biomass sub-sector..."
NIGERIA:
Nigeria Aims to Raise 5 Billion Dollars from the World Bank to Boost Its Electrical Sector: "Nigeria aims to raise 5 billion Dollars from the World Bank in order to boost its electrical sector, reveals Punch. This approach is, according to investigations carried out by the media, the result of a visit by a Nigerian delegation to Washington last April for discussions around a possible assistance to the national energy sector. No details had been given of the outcome of the talks. The financial institution is committed, according to the same source, to implement a set of instruments in order to raise the desired funding. The Multilateral Investment Guarantee Agency (MIGA) has particularly promised to help mobilize funds from the private sector and through the provision of guarantees to private actors..."
GABON:
The Share of Oil in the Government Revenues Will Pass from 30 to 25% by 2020 (Official): "In an interview with Bloomberg on Tuesday, Regis Immongault, the Gabonese Minister of Economy, indicated that his country plans to pass its dependence on oil revenues from 30 to 25% by 2020. Libreville intends to achieve this objective by increasing investments in the agricultural and mining sectors as promised to the IMF, which granted it a three-year loan of 642 million Dollars to accompany the process. In fact, the fall in oil prices has seriously affected the incomes of Gabon for the last three years and has prevented the realization of several major projects. In 2015, the economic growth slowed by 3.9% and in 2016 fell to 2.1%. Furthermore, over this period, oil production declined due to the natural decline of many mature fields. However, the government is already preparing the after-oil. Last April, the Minister in charge of hydrocarbons, Pascal Houangni Ambouroue, had announced that Gabon is considering more than ever launching into the production of biofuel in order to diversify its economy..."
Crédit : IMPERIUM MEDIA
