NIGERIA:
The Government of Ebonyi and BOL Put in Place Fund of 5.8 Million Dollars for the Benefit of the State's MSMEs: "The state of Ebonyi in Nigeria, in partnership with the Bank of Industry (BOL), will support local micro, small, and medium-sized enterprises (MSMEs) via a fund of two billion Nairas ($5.8 million). Within the framework of the partnership, the two parties will each provide half of the funding dedicated to the fund. Explaining the decision to collaborate with BOL, the Governor of the State of Ebonyi, David Umahi, affirmed that MSMEs have an important role to play in the country's development. "We aim for economic empowerment, then these loans will go to the players of the sectors of poultry, production of rice, cassava, maize, and to the small manufacturing enterprises," added Mr. Umahi..."
Equity Markets Finish in Decrease; NSE 30 Index Fell by 0.47%: "Equity markets finished the session in decrease on Wednesday; the decline in the food, beverage and tobacco, banking, and oil and gas sectors contributed to this decline. Closing in Lagos, the NSE 30 index dropped 0.47%, thus signing a one-month low. The best performance of the session for the NSE 30 index is credited to the stock Skye Bank (LAGOS: SKYEBAN), in increase of 3.03% or 0.020 points for a closing rate of 0.680. In the second position, there is FBN Holdings (LAGOS: FBNH) which earns 2.37% or 0.140 points for a closing at 6.050. The stock Dangote Flour Mills PLC (LAGOS: DANGFLOUR) completes this leading trio with an increase of 0.82% or 0.04 points for a close of session at 4.71. Union Bank LG (LAGOS: UBN) marks the worst performance of the session, losing 7.03% or 0.43 points for a closing rate of 5.69. Wapco (LAGOS: WAPCO) dropped 5.00% to 2.50 points and finished at 47.50. For its part, Unilever Nig (LAGOS: UNILEVE) loose 4.99% or 1.84 points for a closing rate of 35.03. The stocks in decrease have exceeded in number the stocks in increase on the Stock Exchange of Lagos by 55 values to 19 and 21 stable..."
BENIN:
Investment: BOAD Reaffirms Its Commitment in Benin: "This new commitment of BOAD in Benin is the consequence of the very last meeting of the West African Bank held in Dakar at the headquarters of the Central Bank of West African States (BCEAO) on June 27. With a total amount of 52.2 billion CFA Francs, the investment is divided between three development projects in Benin. The first package of this investment concerns the implementation of the Lokossa-Deve-Aplahoué-Frontière section of Togo (Benin) development and asphalting project. The funding for this "strategic" project, because of its position, will bring together two border markets, Togo and Benin. It benefits from an envelope of 25 billion CFA Francs. Next comes the second financing estimated at 20 billion CFA Francs. It concerns the realization of the project to viabilize the site and the construction of 1,300 social housing in Ouedo in the commune of Abomey-Calavi in the south of Benin..."
TANZANIA:
The Stranglehold Is Tightening Around the Foreign Mining Companies: "In Tanzania, the Government is increasing pressure on foreign mining companies, as it tries to end the "large-scale theft" observed in the industry. On Tuesday, the Parliament passed unanimously a bill that amends the current regulations, giving the State the right to hold at least 16% of its share in mining projects. "In any mining operation under a mining permit or a special mining license, the Government must have at least 16 percent passive interest in the capital of the mining company," indicates the text of the new law. In addition to these passive interests, we learn, the Government will also have the right to acquire up to a total of 50% in the mining companies, in proportion to the tax debts of the latter. According to some sources from the mining industry cited by Reuters, the government would thus be proposing to the companies to replace their debts towards the State, by an increase in its interest in their operations..."
ANGOLA:
Cambambe II Can Officially Bring Electricity to 8 Million People: "In Angola, the Cambambe II hydroelectric plant was inaugurated yesterday. It will bring energy to additional 8 million people thanks to its 700 MW of daily production," affirmed João Baptista Borges, Minister of Energy and Water. To facilitate access to the energy that is now produced, a substation was built in the province of Luanda, and an interconnection with the Gabela region in South Kwanza province is currently under construction. This infrastructure should enable, in the near future, providing energy to the city of Banguela, among others. The completion of this plant is part of the implementation of the Cambambe project, which also includes the expansion and modernization of the Cambambe I dam, with a capacity of 260 MW, and the elevation of the structure of the dam whose height will increase from 100 meters to 132 meters..."
SENEGAL:
The Kilogram of Paddy Rice Will Cost 125 FCFA During the Hot Off-Season: "In Senegal, the kilogram of paddy rice (not husked) will be marketed at 125 CFA Francs during the hot off-season campaign 2017, reports APS. This price, equivalent to that in force last year, should be formalized by a joint decree of the Ministries of Trade and Agriculture. "Along with the new rate, a system of information, collection, and processing of data of paddy rice will also be set up for the benefit of stakeholders in the value chain," indicates Alioune Sarr, Minister in charge of Trade Portfolio. This device should allow, according to the minister, ensuring the traceability and purchase of local rice, and facilitating the development by the government of a regulation in favor of better marketing of cereals..."
Crédit : IMPERIUM MEDIA
