ZAMBIA:
ZCCM-IH and Sinoconst Will Build a $548 Million Cement Plant in Ndola: "The Zambian public company ZCCM-IH has concluded a joint venture agreement with the Chinese Sinoconst to build a $548 million cement plant in Ndola in the province of Copperbelt, located 400 km north of Lusaka. The said agreement comes as part of Zambia's will to diversify its copper-dependent economy, of which it is the second African producer. The two companies will mobilize the necessary funds to finance the project, with local and international financial institutions. The construction of the plant will last 3 years and will create 1,000 jobs. It will produce 5,000 tons of cement every day. Two 20 MW coal-fired power plants will be built to supply electricity..."
ZIMBABWE:
Zimbabwe Will Not Reach Its Export Target of $300 Million of Chromium: "In Zimbabwe, the objective of local producers to export $300 million of chromium ore in 2017 might not be achieved. This was announced by the Minerals Marketing Corporation of Zimbabwe (MMCZ), relayed by MiningWeekly, citing reasons for the falling prices and the flooding of the Chinese market by cheap materials from South Africa. According to Masimba Chandavengerwa, Deputy Marketing Director of MMCZ, the drop in prices for chromium ore, which passes from about $200/t in March to $90/t, is due to the increase of about 2 million tons of stocks at dealers' level in China (the world's largest consumer). In addition, he explains, over the next 6 months, the "high quality" Zimbabwean product will be challenged by an influx into the Chinese ore market "cheap and low quality" from South Africa..."
SENEGAL:
Stability of the Price per Kilogram of Refined Sugar Powder in May 2017: "The kilogram of this commodity traded on the local market at 608 CFA Francs (about $0.97) as at the month of April 2017. In the international market, the price of white sugar continued its decline since February 2017. Between April and May 2017, it fell by 4.7%, mainly in relation to favorable production prospects in Brazil. On the other hand, over the first five months of 2017, the price of white sugar increased by 16% compared with the same period of 2016..."
RWANDA:
The World Bank Grants $50 Million for the Development of Access to Off-Grid Electricity: "The World Bank has provided Rwanda with an envelope of $50 million for improving access to off-grid electricity, reports New Times. The funding agreement was signed by Claver Gatete, the Rwandan Minister of Finance and Economic Planning, and Yasser El-Gammal, representative of the financial institution in Rwanda. This amount will be allocated through the Rwandese Development Bank (BRD) and will go to fund the renewable energies. It should make it possible particularly to strengthen collaboration between the financial institutions and the private sector to facilitate the financing of mini-network projects and to improve the supply of quality autonomous electrical systems starting from renewable energies..."
NAMIBIA:
Namibia Expects a 2.1% Growth in 2017: "The Bank of Namibia declared on Monday that the country's economic growth could reach 2.1% in 2017, i.e. an improvement of 0.2 percentage points compared to 2016. In its report on the country's economic outlooks in July, the central bank of Namibia also forecast a growth of 3.8% for the year 2018. The recovery in economic growth follows the expected improvement in sectors such as agriculture, mining, electricity, and hydraulic, according to the bank..."
IVORY COAST:
BOAD Grants Orabank Côte d'Ivoire Two Loans of a Total Amount of 20 Billion CFA Francs: "Mr. Christian ADOVELANDE, the President of the West African Development Bank (BOAD), and Mamoudou KANE, the Director General of ORABANK Côte d'Ivoire (ORABANK CI), have signed two loan contracts relating to a subordinated loan and a refinancing line of 10 billion CFA Francs each. The ceremony took place in the presence of Mrs. Binta TOURE NDOYE, Director General of Orabank Group. Mr. Mamoudou KANE indicated, "these two funding lines have a dual objective which is of paramount importance to us as part of our 2016 - 2018 strategy: Support to SMEs and the consolidation of our own funds to reinforce our development based on growth and performance"..."
More Than 500 Billion CFA Francs Invested by IDB in 15 Years: "On an official visit to Ivory Coast during the 44th session of the Council of Ministers of Foreign Affairs of the Organization for Islamic Cooperation (OIC), the President of IDB visited, on Tuesday, the projects carried out by his institution. "From 2002 to date, the AfDB has invested $1 billion in Ivory Coast," he declared, adding that an amount of $31 million has been approved for vocational training. In Yopougon in the west of the Ivorian economic capital, he visited the drinking water processing plant carried out to the tune of 14 billion CFA Francs as part of the project to supply the city of Abidjan with drinking water. "The purpose of this visit is to show the President of IDB how the support of his institution has been valuable in improving the living conditions of the populations," explained the Ivorian Minister of Planning and Development, Nialé Kaba..."
Crédit : IMPERIUM MEDIA
