TANZANIA:
The World Bank Will Contribute 345 Million Dollars to the Extension of the Port of Dar Es Salaam: "On Sunday, the World Bank's Board of Directors approved a loan of 345 million Dollars to the benefit of Tanzania for the extension of the port of Dar es Salaam. This loan is the twelfth granted to the country of East Africa for the extension of its main port this year. Last January, Tanzania had already received 305 million Dollars from the Bank. In competition with the Kenyan port of Mombasa to become the most important pole for trade in the subregion, serving landlocked countries such as Zambia, Rwanda, Malawi, Burundi, Uganda, and the DR Congo, this financing package could solve the problems of congestion encountered by the port. The freight that passes through the port of Dar es Salaam increases by 9% each year, passing from 10.4 million tons in 2011 to 13.8 million tons last year. However, the problems of optimal cargo management remain a major concern for the Tanzanian authorities, which plan to increase the capacity of the port to 28 million tons by 2020..."
NIGERIA:
Foreign Exchange Reserves Increased by 16% During the Past Half of the Year: "Over the past six months, Nigeria's currency reserves have recorded a 16 % increase to 30.27 billion Dollars on June 29, compared with 26.09 billion Dollars at the beginning of the year. This is indicated by statistics recently published by the Central Bank of the country, CBN. According to the financial institution, the figure recorded last month shows an increase of 14.8% compared to the same period last year. Indeed, the country's currency reserves amounted to 26.34 billion Dollars in June 2016. The current increase would be due to an increase in oil prices from which the economy derives the majority (70%) of its revenues, as well as an increase in the production of black gold. The latter is explained, among other things, by the negotiations with the Niger Delta militants which sabotaged several oil infrastructures last year..."
In Nigeria, Ecobank Is Partnering with Transfast to Boost Remittances from the Diaspora: "Ecobank Nigeria, a subsidiary of the pan-African group Ecobank, has partnered with Transfast, an international money transfer service, to increase remittances carried out by the Nigerian diaspora to the country. Thanks to the new partnership, Nigerians residing abroad will be able to directly transfer money to their relatives in the country towards their Ecobank accounts. Sending via Transfast will take place every day of the week, 24 hours a day, and funds can be withdrawn at any of the 3500 quick withdrawal stations of the Nigerian Bank. According to Tunde Kuponiyi, the person in charge of banking services at Ecobank Nigeria, the partnership demonstrates the Bank's commitment to providing its clients with world-class services. "Transfast is known for its speed and excellence. We are confident that this association will allow us to improve our fund transfer segment. In addition, we are already working with services such as Rapid Transfer, Western Union, Money Gram, and Ria Money Transfer, which are available in all our branches in Nigeria," he added."
ZIMBABWE:
The Development of the Arcadia Project Will Require Capital Expenditures of 52.5 Million Dollars (PFS): "The mining company Prospect Resources released on Monday the results of the Prefabricity Study (PFS) of its arcadia lithium project in Zimbabwe. According to the said study, the development of the project is expected to require capital expenditures of 52.5 million Dollars. In addition, the pre-tax net present value of the project was estimated at 139 million Dollars, the internal rate of return of 39% and the payback period of the invested capital over 2 years. Over the entire lifetime of the mine, estimated at 15 years, Prospect should record revenue of 2 billion Dollars. PFS also indicates the possibility of carrying out on the mine, exploitation and processing operation of 1.2 million tons per year, based on the probable ore reserves of 15.8 million tons (titrating 1.34% Li2O and 125 ppm Ta2O5). The project is expected to enter production in 2018, after commissioning the processing plant, planned for the third quarter..."
KENYA:
Seven Branches of Barclays Will Close by next October: "Barclays Bank Kenya put in place a regime in Kenya. The South African subsidiary Barclays Africa, where the majority owner Barclays Plc reduced its stake, announced on July 3 that it would close seven of its branches in the country starting from October 1, an action which, according to management, is part of a policy of costs reduction. But the process will not affect the staff employed in the branches concerned. According to a statement from the bank, this is a consolidation movement aimed at aligning our company with the current environment. At the time being, Barclays Kenya has 102 branches across the country. The bank also specifies in its statement that those employees in the offices of Avenue Moi, Haile Salassie, Waiyaki Way, Kawangware, Rahimtulla, Nakumatt Meru branch, and Wundanyi branch will be redeployed according to available opportunities and capabilities. Last month, the Bank had announced plans to launch a voluntary separation program for all of its human resources. The operation, which will run for a period of one month, started last June 19. 130 employees have already accepted the offer, according to the bank..."
IVORY COAST:
The CNPS Realizes a Surplus of 7 Billion CFA Francs in 2016: "CNPS, the National Social Welfare Fund, a body in charge of pensions for the Ivorian private sector, has garnered a surplus of 77 billion CFA francs, i.e. 10.67 million Euros, for the financial year 2016. This result confirms the accuracy of the measures adopted in 2012 in order to get the institution out of a deficit gear that put it at risk. CNPS had indeed obtained the increase in social security contributions, increased from 8% to 12% of remunerations, and raising the age at retirement to 60 years. The accounts of the institution have since turned green: 8 billion surplus the same year, 33 billion the following year, 46 billion in 2014, and 36 billion by the end of 2015."
ANGOLA:
In 2016, the State Oil Company Has Achieved a Pretax Profit of 3 Billion Dollars: "Last year, Sonangol, the Angolan State oil and gas company, has recorded a pre-tax profit of 3.16 billion Dollars, a progress of 800,000 Dollars, compared with 2015, reports the local press agency Angop. The announcement was made on Monday by Isabel dos Santos, the boss of the company, who indicated that these results reflect the market recovery observed in the previous year and the efforts of those in charge to keep it afloat. She then welcomed the fact that national crude oil production has surpassed 1.7 million barrels per day making the country the most important African producer, despite the difficulties. Indeed, a comprehensive restructuring policy was put in place in the second half of 2016, date of the arrival of Isabel dos Santos at the head of the company. These measures have enabled her to use external assistance in the financial, legal, strategic, and human resources fields..."
Crédit : IMPERIUM MEDIA
