KENYA:
The overall inflation rate has risen to its highest level in five years: ""The overall monthly inflation has increased to a high record level in Kenya since five years to reach 11.7% in May against 11.48% in April due the increase in food and fuel prices caused by the ongoing drought conditions," said the National Office of Statistics of Kenya (KNBS) on Wednesday. The KNBS asserted that the Consumer Price Index (IPC) calculated using the geometric mean approach increased by 0.75%, from 186.24 in April to 187.64 in May. According to the Office, between March and April, the food and non-alcoholic beverages index increased by 1.26% compared with an increase of 3.55% between March and April. "However, the food index has increased due to rising prices of sugar, milk, corn grain, and other commodities," said the Office in a statement published in Nairobi, adding that the inflation of the previous year increased by 21.52% in May..."
MOZAMBIQUE:
Standard Bank and ICBC sign a partnership agreement: "The Industrial and Commercial Bank of China (ICBC) and Standard Bank sign a partnership agreement to promote Chinese investments in Mozambique. Joint financing facilities between banks will be supported by "innovative financing solutions and banking services". "The partnership established with ICBC would allow Chinese economic agents who need financial support in Mozambique to access it more easily," declared Antonio Macamo, the Director of Standard Bank of lusaka..."
SENEGAL:
Aliou Ndiaye lands at the controls of the Mutual Credit of Senegal (CMS) diluted in a glass of storm: "The Senegalese banker, Mamadou Ndiaye, who up to that time assumed the duties of provisional administrator of the CMS (Mutual Credit of Senegal), has transferred his chair to the finance expert, Aliou Ndiaye. According to proprietary information in the possession of Africa Confidential, the latter headed the currency and credit division at the Senegalese Ministry of Finance. Reputed to be hard-working, methodical, and courteous, Aliou Ndiaye succeeds from now on to Mamadou Ndiaye, who migrates on the lagoon of Ebrie to take command of the CREPMF base in Abidjan. The new boss of CMS arrives at a crucial moment with the provisional administration of the most mutual financial institution of the country. Under the Magistere Ephemere of its ex administrator, Mamadou Ndiaye, the CMS has made a small jump showing an upturn. As it is said, the establishment is back by far despite its recent catastrophic financial state..."
CHAD:
Chad launches the reform of its legal mining system: "Confronting a serious financial and economic crisis, Chad began revising its mining code and its implementing texts in order to attract a very promising but under-exploited sector. Meeting in N'djamena on Monday and Tuesday, the capital of Chad, the officials of the Chadian Ministry of Mines, Geology, and Quarries, the experts from the African Union (AU), the African Development Bank (AfDB), and the Economic Commission of Africa (ECA) have been working on the various texts that regulate the mining sector in this vast country of Central Africa. This meeting constitutes a major step in the process of revising the Chadian mining code which has become obsolete..."
IVORY COAST:
The price of the liter of super gasoline in decrease of 23 CFA Francs: "The price of the liter of super gasoline had been revised upwards by 23 CFA Francs on May 8, from 570 to 593 CFA Francs. As regards the price of diesel fuel, it remains intact at 570 CFA Francs. "This new pricing has been in effect since Monday, May 29, but it was only on Thursday, June 1, that it was displayed at gas stations in Abidjan and across the country," explained an operator in this sector..."
Ivory Coast puts in place an export strategy for the period 2018-2020 for a cost of 34.5 billion CFA Francs: "The National Council of Exports of Ivory Coast rendered on Friday a study focusing on the national export strategy over the period 2018-2020 of a global amount of 34,542 billion CFA Francs, during a session of restitution of the results in the presence of the Minister of Commerce, Crafts, and Promotion of SMEs, Souleymane Diarrassouba..."
BURKINA FASO:
Soon, 2001 km of optical fiber to the National Network of Telecommunication: "Ouagadougou-Burkina Faso goes to realize, as part of the Project Backbone National, 2001 km fiber optic network in the prospect of increasing capacity of telecommunication including internet connection. The country had authorized in July 2013 the signing of a contract for the construction of 5443 km of backbone network of fiber optic telecommunication with Singaporean law society Huawei International PTE Limited. It is thus 3 years after the conclusion of the contract that the Government decided of the realization of the first phase of 2001 km, estimated at 91 million US Dollars..."
Crédit : IMPERIUM MEDIA
