SENEGAL:
Accuracy of Tigo Senegal Regarding the Termination of the Transfer Agreement to Wari: "Following Wari's recent erroneous statements, Tigo Senegal would like to make the following corrections concerning the termination of the Tigo Senegal sale agreement. The sale agreement signed on February 2, 2017, between Wari and Millicom set the deadline until June 2, 2017, for Wari to provide the financing required for the transaction. In the event of non-compliance by Wari with this financing obligation, the sale agreement grants Millicom the right to terminate the transaction immediately on simple notification..."
Increase in Economic Activity in May 2017 in Senegal: "Domestic economic activity (excluding agriculture and forestry) in Senegal was consolidated by 10.1% in May 2017 on a monthly basis, it was learned Tuesday to the Direction of Forecasting and Economic Studies (DPEE). According to this structure, this reflects a good overall performance of the tertiary, secondary, and primary sectors, which grew by 10.1%, 16.1%, and 5.9%, respectively..."
Sonatel Improves Its Net Profit by 1.3% to 111.4 Billion CFA Francs in the First Half of 2017: "In Senegal, the national telecommunications company (Sonatel), a subsidiary of the French group Orange, which also covers Mali, Guinea Bissau, and Guinea, published on July 25, 2017, its results for the first half of 2017. After a decline in 2016, the group's net income resumed growth of 1.3%, or 111.4 billion CFA Francs as of June 30, 2017. Accordingly, the Group's consolidated sales totaled 483.6 billion CFA Francs, i.e. an increase of 10.2%. Growth in the historical scope (excluding Sierra Leone), sales grew by 6.3% against 2.1% in June 2016..."
ANGOLA:
4.7 Million Carats of Diamonds Sold in the First Half: "From January to June 2017, Angola sold 4.7 million carats of diamonds, generating a total income of $517 million (-1.5% year-on-year). The information, relayed by Macauhub, was announced in a statement by the country's finance minister, Archer Mangueira. In addition, the Minister also indicated that tax revenues for the six-month period were $45.3 million, compound figure including industrial taxes and royalties paid by the mining companies..."
BURKINA FASO:
Growth Accelerates from 4% in 2015 to 5.9% in 2016 (IMF): "The rate of growth of the real gross domestic product (GDP) in Burkina Faso, increased from 4% in 2015 to 5.9% in 2016, the International Monetary Fund (IMF) experts said after a meeting of its board of directors. According to the Ministry in charge of the economy of Burkina Faso, it is at the end of the review of the triennial program 2014-2016 that a letter of intent relating to economic policies and financial information was submitted to the IMF's Board of Directors, which on July 14 found the results obtained by Burkina Faso satisfactory. In a statement released Tuesday, the ministry in charge of the economy stresses that the services of the IMF have noted that despite security problems and social tensions, performance of the country under the program has remained satisfactory and the implementation of the reforms has enabled good macroeconomic management..."
TOGO:
Orabank Obtains the Approval of the State for the Financing of a Project Intended for the Entrepreneurs: "The Supporting Employability and Insertion of Young People in Sustainable Sectors (PAEIJ-SP) will be financed by Orabank to the tune of 5.36 billion CFA Francs (approximately 8 million Euros). The bank has just been authorized to finance this project by the Togolese government. Indeed, the agreement validating this authorization was signed in the middle of last week between Dogbé-Tomegah, Togo's development minister at the grassroots level, and his colleague of the economy and finance, Sani Yaya, and on the side of Orabank-Togo, by its Director Cheikh Ahmet Ndiaye. However, there was an innovative mechanism in the funding of PAEI-SP which initially consists of allocating the financial envelope to microfinance institutions. The latter, in turn, will finance 700 young entrepreneurs, 1000 producer/herder groups, and 200 women from rural and vulnerable villages ... "
KENYA:
The Price of the 90 kg Corn Bag Is the Highest in the East African Region: "In Kenya, the sale price of the 90 kg corn bag reached 5849 shillings ($56.1) marking an increase of more than 67% from the level recorded last February (3500 shillings) and a new record in the East African region, says Business Daily Africa. The increase in the Tariff is mainly attributable to the production deficit expected for this year (-24%) due to drought and the invasion of legionary caterpillars which have had an adverse effect on the yields of culture..."
IVORY COAST:
Bank: A Public Offer of Sale Would Be Prepared on Ecobank Côte d'Ivoire Shares: "The rationality for this initiative remains to be understood. However, it is noted that Ecobank Côte d'Ivoire is the subsidiary where ETI has the largest share of capital, accounting for 94.2% of the shareholding. From this point of view, and in light of the new rules for introducing BRVM concerning the float and the volume of shares, it is likely that it is the group itself that is considering the transfer of shares. Details of the performance of the Ivorian subsidiary of ETI are not publicly disclosed. But it is presented as an important pole of the group's activities in Francophone West Africa. It should also be noted that in Ivory Coast the level of claims at risk has increased from 8% in 2015 to almost 13% at the end of 2016. Finally, Ecobank has available-for-sale assets for $293 million..."
Crédit : IMPERIUM MEDIA
