Monday 20 November 2017
(Xinhuanet 11/17/17)
Sino-African relations have entered a new development stage of win-win cooperation, according to the fifth Biennial Conference of China-Africa Industrial Forum (CAIF) that opened here Thursday. Supporting Africa's industrialization and capacity cooperation are of vital importance in the next five years and Sino-African trade is likely to total 180 billion U.S. dollars in 2017, said CAIF secretary general Cheng Zhigang in the opening speech. Sino-African economic and trade cooperation has great potential, said Cheng. China has been Africa's largest trading partner since 2009. Chinese investments in Africa exceeded 100 billion dollars in 2016, about 50 times as much as in 2010. China's investments in Africa have also diversified in business areas, from construction and mining...
(APA 11/14/17)
Nigeria’s Minister of Power, Works and Housing, Mr. Babatunde Fashola, has said that the country recovered over $64.63 million debts from electricity supply to Benin Republic and Niger Republic. Img : Nigeria recovers over $64m electricity debts from Benin, Niger Republics – Minister Nigeria supplies electricity to the two countries in line with the agreement that they won’t dam the River Niger that sustains the hydro-power plant at the Kainji Dam in northern Nigeria. Fashola, told the 21st monthly power sector operators meeting on Monday in Asaba, the Delta State capital, that the Nigerian Bulk Electricity Trader (NBET), would work out the modalities for distribution of the funds. Fashola said that the government would make available a total of N37...
(APA 11/14/17)
Nigeria, Senegal and Cape Verde dominate the West African hotel pipeline with 77 percent of the total planned hotel rooms. W Hospitality Group’s 2017 Hotel Chains Pipeline report shows that hotel groups need tackle lengthy development periods in West Africa, according to a press release issued by API Events and seen by APA Tuesday. West Africa has been at the heart of the continent’s growth and economic transformation in recent years. Notwithstanding the sharp slowdown experienced in 2016 and 2017,...
(Reuters (Eng) 11/14/17)
KIGALI (Reuters) - The global airline industry has $1.2 billion blocked in nine dollar-strapped African countries, the International Air Transport Association (IATA) said on Monday. The global commodities price crash that began in 2014 hit economies across Africa hard, particularly big resource exporters such as Angola and Nigeria. Low oil and mineral prices have reduced government revenue and caused chronic dollar shortages and immense pressure on local currencies. The fiscal slump has meant governments have not allowed foreign airlines to...
(AfricaNews 11/10/17)
South African telecoms giant MTN Group said on Thursday Benin’s regulator was reviewing its local unit’s reasons for not paying $213 million in frequency fees for 2016 and 2017. MTN Benin had contested the size of the fees, saying they were excessive, the company said. MTN’s fine headache in next door Nigeria has made news headlines for better part of last year into this year. They were initially hit with a $5.2 bn fine in October 2015 by the Nigerian...
(Reuters (Eng) 10/31/17)
HARARE (Reuters) - Economic growth is expected to rise to 3.4 percent in sub-Saharan Africa next year from 2.6 percent in 2017, the IMF said in a report on Monday, but warned that rising debt and political risks in larger economies would weigh down future growth. Nigeria and South African are the biggest economies in Africa south of the Sahara, but both nations have been clouded by political uncertainty linked to the tenure of their leaders. The IMF said a...
(AFP (eng) 10/24/17)
The 15-nation West African bloc ECOWAS told regional leaders Tuesday that the goal of establishing a single currency among their economies in 2020 had failed. "The roadmap has not been implemented vigorously," Marcel de Souza, president of the ECOWAS Commission, told a summit in Niamey, the capital of Niger. "We cannot move to the single currency in 2020," he said.
(AFP (eng) 10/20/17)
Thousands of people took to the streets of Benin's commercial capital Cotonou on Friday to protest against President Patrice Talon's economic reforms and the high cost of living. One of the organisers said "more than 10,000" people turned out for the march to the trades union congress building. No official figure was immediately available. The head of the main workers' union in Benin, Nagnini Kassa Mampo, told the crowd: "Public hospitals will soon be privatised, repeated strikes in the education...
(AFP (eng) 10/18/17)
Rent-a-room giant Airbnb said Tuesday that it had provided accommodation for 1.2 million visitors to Africa over the last year -- double the previous year as tourism expands across the continent. The website now offers more than 100,000 accommodation options in Africa, global public affairs director Chris Lehane said on a visit to Johannesburg. "It's an incredibly rich and diverse continent, an incredibly dynamic place, certainly a big part of our future," Lehane told AFP. Airbnb was founded in 2008...
(APA 10/16/17)
APA-Dakar (Senegal) - The president of the African Development Bank, Akinwumi Adesina, will deliver the Norman Borlaug Lecture on Monday 16 October as part of the World Food Prize events taking place from October 16 to 20, 2017 in Des Moines, Iowa, USA. The Norman Borlaug Lecture under the title: “Betting on Africa to Feed the World”, will be held on World Food Day, October 16, in conjunction with the annual World Food Prize celebration. AfDB President Adesina will receive...
(AFP (eng) 10/11/17)
From his chair in the middle of a pile of pineapples, Jean-Xavier Satola supervises cutting and packaging, as Benin -- Africa's fourth-biggest exporter of the fruit -- starts trading again after an eight-month self-imposed absence. The fields of Allada in southern Benin are a hive of activity as about 20 men, in trousers to protect them from the spiky leaves, pick the pineapples while women load them in baskets and carry them away on their heads. The smooth, fat, yellow...
(AFP (eng) 10/10/17)
Economic growth in sub-Saharan Africa is set to accelerate to 3.4 percent next year, the International Monetary Fund said Tuesday, citing Nigeria's recovering oil and agricultural sectors. The IMF said in its latest World Economic Outlook report that the region would grow by 2.6 percent this year after 1.4 percent in 2016. "Growth is expected to rise gradually," it said, while noting that the rate would be uneven and "barely above population growth". GDP in the west African powerhouse Nigeria...
(Reuters (Eng) 10/05/17)
NAIROBI (Reuters) - Hilton Worldwide Holdings Inc. (HLT.N) plans to spend $50 million over the next five years to add 100 hotels to its chain in Africa, it said on Thursday, joining other chains keen to tap growing business and international travel on the continent. One property will open in the Kenyan capital Nairobi by the end of this year and another in the Rwandan capital Kigali in 2018, it said in a statement. There was 11 percent growth in...
(AFP (eng) 10/03/17)
Benin's top court has rejected a bid by French group Bollore to recover control of a rail project to link Cotonou with Abidjan, a lawyer for a local firm told AFP. The Supreme Court on Friday "rejected the suit filed by Bollore (Africa Logistics) and the Beninese state in their appeal," said Cyrille Djikui, lawyer for Beninese businessman Samuel Dossou Aworet, who is competing with Bollore. Late Monday, Djikui told AFP that the so-called Echine Dorsale ("Backbone") project to build a line between the port cities in Benin and Ivory Coast was "imagined, conceived and put in place" by Dossou...
(APA 09/29/17)
A delegation of the International Monetary Fund (IMF), after a two-week stay in Cotonou, has informed President Patrice Talon of its satisfaction with the way the Benin government has met its commitments made April to international financial institutions. “The program approved for Benin is firmly on track and all criteria agreed with the government have been respected,” the head of the IMF delegation Norbert Toé said meeting with the President on Wednesday. The government of Benin has embarked on very...
(AFP (eng) 09/29/17)
Government shutdowns of the internet have cost sub-Saharan Africa about $237 million since 2015, according to a study released Friday, as authorities increasingly implement planned disruptions. At least 12 countries have had internet shutdowns, often before elections or when protests erupt, with mobile internet networks most recently suspended in Togo during opposition demonstrations. "Internet disruptions, however short-lived, undermine economic growth, disrupt the delivery of critical services, erode business confidence, and raise a country’s risk profile," the CIPESA report said. The Collaboration on International ICT Policy for East and Southern Africa (CIPESA) released its...
(Bloomberg 09/27/17)
Studio 189, a label founded by actress Rosario Dawson and fashion executive Abrima Erwiah, is reinvesting in its African roots. It’s hard enough to build a fashion brand, let alone an empire. Rare is the person who makes a mission of using fashion to build communities. Such is the case with Studio 189, a label founded by longtime friends Abrima Erwiah (formerly a marketing executive at Bottega Veneta) and Rosario Dawson (an enduring star most recently seen in Netflix’s Marvel...
(Reuters (Eng) 09/26/17)
Israel’s Elbit Systems Ltd said on Tuesday it won a contract worth $240 million to provide a wide array of defense electronic systems to an unnamed country in Africa. The contract, which will be carried out over a two-year period, is comprised of Directed Infra-red Counter Measure (DIRCM) systems to protect aircraft from shoulder fired missiles, based on passive infrared systems, and includes missile warning systems, radio and communication systems, land systems, mini-unmanned air systems and helicopters upgrade.
(Voice of America 09/25/17)
African first ladies and activists hailed progress that some governments on the continent are making on gender equality. They met on the sidelines of the United Nations General Assembly in New York. “We used to have 23 percent female representation in parliament but, with the stroke of a pen it went up to 48 percent. So, we managed to double our female representation with that decision,” said Namibia’s first lady Monica Geingos at a roundtable invitation-only event co-hosted by the...
(AFP (eng) 09/23/17)
Getting around most towns and cities in West Africa often means an uncomfortable ride on public transport or haggling hard with a taxi driver. Benin's economic capital, Cotonou, is no different and is famous for its thousands of "zemidjans", the cheap motorbike-taxis that throng the city's roads at rush hour. But that is changing with the arrival of clean, comfortable, air-conditioned vehicles that can be ordered by a mobile phone app, WhatsApp or a freephone number. Ivory Coast's Africab and...

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