GHANA:
The Executive Envisages a Law to Keep the Fiscal Deficit at 5% of GDP: "Ghana envisages the adoption of a law that will limit the country's fiscal deficit to a maximum of 5% of gross domestic product (GDP). According to Minister of State Yaw Osafo-Maafo, this text, known as "law of fiscal responsibility," will sanction public officials who would exceed the ceilings set for expenditure. "We propose a text that will contain the fiscal deficit in a range of 3 to 5% of GDP. Any transgression of this zone will be considered an infraction. The purpose of this law is to put the economy back on track and to make any reversal, by any government whatsoever, impossible," declared the official..."
ZAMBIA:
Over the Next Three Years, the World Bank Will Inject Nearly $685 Million to Finance Agriculture and Energy Sector: "Satisfied with the progress in economic reforms aimed at reviving the Zambian economy, the World Bank plans to unblock, over the next three years, a portfolio of approximately $685 million in favor of the country. An envelope that will be injected into several sectors of the economy of the nation of Southern Africa. According to the figures, approximately $150 million will be provided as budget support, $255 million for the agricultural sector to support mainly irrigation, while $280 million is earmarked for the development of the energy sector..."
NIGER:
Creation of an Investment Fund for Agricultural Producers: "A decree establishing an Investment Fund for Food and Nutritional Security (Fisan) in Niger was adopted in the Council of Ministers last Wednesday. The objective is to facilitate public and private investment in all segments of food and agri-food fields. "Fisan aims particularly to improve the supply of financial services to producers and other actors in value chains," specifies a statement..."
ANGOLA:
The Chinese Gezhouba Group Will Build the Largest Hydroelectric Complex in the Country: "In Angola, the Chinese company Gezhouba Group Co. Ltd. (CGGC) is granted by the Angolan Government the contract to build a 2,172 MW hydroelectric dam on Cuanza River in the province of Cuanza Norte. As Xinhua points out, it will be the largest hydroelectric complex in the country and the largest one built by a Chinese company in Africa. The dam will be 156 meters high and 1,200 meters long and will cover an area of 24,000 hectares. It will be equipped, inter alia, with a power plant of six turbines capable of producing 334 MW of electricity. It should be emphasized that the laying of the first stone of its construction was made on Friday by the Angolan head of state, José Eduardo dos Santos..."
MOZAMBIQUE:
Essar Ports Will Invest in the Construction of a Coal Terminal at the Port of Beira: "In Mozambique, the New Coal Terminal Beira (NCTB), a subsidiary of the Indian group Essar Ports, is embarking on the construction of a coal terminal at the port of Beira. This project, which will be carried out under the concession agreement that links the Indian to the Mozambican State, will take place in two phases, reveals Macauhub. The first will see the investment of $275 million and will end in the first quarter of 2020. For Mozambique, the construction of this infrastructure will enable it to develop the coal mining activity of which it is the first producer in Africa. The country, which had produced 11 million tons in 2014, will be able to increase its presence on the Indian market thanks to this new terminal."
IVORY COAST:
Air Côte D'Ivoire Has Financed the Acquisition of Its Recent A320 Ceo, Thanks to the Financial Support of Investec: "For the acquisition of its last Airbus A 320 Ceo arrived in Abidjan, July 19, 2017, as part of an inaugural flight that transported members of the Government of Ivory Coast, the Ivorian national airline Air Côte d'Ivoire has benefited from financial support from Investec Aviation. Details of the operation are not known, but we learn that it took the form of a debt granted to the air carrier. The operation, finalized on July 14, 2017, is the culmination of a three-year negotiation process. "We are very pleased to have structured a customized solution which meets the specific requirements of our client in a very short time," said David Minty, official of Investec Aviation Finance, which has been accompanying African airlines for more than a decade..."
NIGERIA:
Union Bank for Nigeria Minimizes Risks Related to Exposure to Heir Entity of Etisalat Nigeria: "Union Bank of Nigeria, a financial group listed on Nigeria Stock Exchange, has indicated on Monday having sufficient provisions to cover its exposure of a total of 3.9 billion nairas ($10.69 million) to the stock of 9Mobile debt, the entity that succeeded Etissalat Nigeria which was 40% controlled by Etisalat, 45% by a United Arab Emirates sovereign wealth fund, and 15% by a Nigerian businessman. The bank is part of a group of several entities in Nigeria, all categories combined, to which the operator owed a total of $1.2 billion..."
UGANDA:
General Electric Puts One Foot in Lac Albert Oil Complex: "Lac Albert oil complex, straddling between Uganda and Tanzania, continues to mobilize some of the resources and attention of the governments of the region. Kampala has just chosen a consortium including General Electric (GE) to construct and operate a refinery whose production capacity will have to reach 60,000 barrels/day and will process the crude from the fields operated by the duo Total-Tullow Oil..."
Crédit : IMPERIUM MEDIA
