Saturday 19 August 2017
(APA 08/10/17)
Bank of Africa (BOA) Burkina Faso, a subsidiary of the banking group of the same name, realized a net banking income of 17.258 billion CFA francs (about US$27.612 million) in the first quarter of 2017, the Ouagadougou-based bank told APA on Wednesday. Compared to the first half of 2016 when it stood at 16.132 billion CFA francs, this time income grew by 6.98 percent. As for the bank’s total balance, it stood at 752.9 billion CFA francs, up by 12 percent compared to June 30, 2016. BOA Burkina Faso’s overheads increased by 8.75 percent, from 6.786 billionCFA francs in 2016 to 7.379 billion CFA francs a year later. The bank’s gross operating income grew by 4.56 percent to reach 8.745...
(AFP (eng) 08/10/17)
The skull of an infant ape buried by a volcano 13 million years ago has preserved intriguing clues about the ancestor humans shared with apes -- including a likely African origin, scientists said Wednesday. A previously-unknown creature that shared an extended family with the human forefather, had a flat face like that of our far-flung cousin the gibbon, but did not move like one, its discoverers wrote in the journal Nature. They named it Nyanzapithecus alesi after "ales" -- the word for "ancestor" in the Turkana language of Kenya, where the lemon-sized skull was unearthed. The sole specimen is that of an infant that would have grown to weigh about 11 kilogrammes (24 pounds) in adulthood. It had a brain...
(Xinhuanet 08/09/17)
The United States Trade Representative (USTR) on Wednesday affirmed the commitment of his country to Africa and saw "great potential to grow and deepen trade relationship." Robert E. Lighthizer expressed this in opening speech of the ministerial plenary as part of the 16th Forum of the Africa Growth and Opportunity Act (AGOA), on Wednesday here in Togolese capital Lome. "The United States is committed to Africa. We see great potential to grow and deepen our trade relationship, with the goal of establishing a true partnership for the future", Lighthizer said. "By lowering barriers and tackling other constraints that impede trade and investment, we are poised to see U.S.-Africa trade flourish", he said, underscoring that "much more work needs to be...
(Bloomberg 08/08/17)
Burkina Faso announced an infrastructure development plan that aims to create jobs and boost economic growth in the country’s impoverished northern region, where jobless youths have become prime recruitment targets for Islamist militants. The 455 billion CFA francs ($819 million) project will prioritize the building of schools, roads, medical facilities and water infrastructure, Prime Minister Paul Kaba Thieba told reporters Thursday in the northern city of Tongomayel. The funds will be disbursed to small and medium-sized businesses to boost employment and prevent the radicalization of young people, Thieba said. Burkina Faso is fighting an insurgency in its northern Sahel region where most of 33 militant attacks since 2015 took place
(Reuters (Eng) 08/08/17)
Tuesday's action at the World Athletics Championships sees two of the most intriguing races of the program as South Africa's Wayde van Niekerk bids for the first half of his 400/200 meters double and Nigel Amos goes for gold in the men's 800m. World record holder and defending champion Van Niekerk should be unbeatable in the 400m but faces a stiff challenge, not least from Botswanan duo Isaac Makwala and Thebe Baboloki. Another Botswanan, Amos, will also have to be at his best in the 800m, where a clutch of athletes are suddenly dreaming of glory in the absence of Kenya's injured champion David Rudisha. Kenya is expected to continue its dominance of the men's 3,000m steeplechase - though American...
(APA 08/03/17)
The International Monetary Fund (IMF) has expressed satisfaction with Burkina Faso’s economic performance, pending a new three-year program in 2018. The Ministry of Economy and Finance said despite the security problems and social tensions, the IMF has been impressed with what it saw as a good macroeconomic management, acceleration of the GDP growth rate at 5.9 percent in 2016, against 4 percent in 2015, as well as tax revenue mobilization at 15 percent of GDP, signifying an increase of 0.8 percent compared with two years ago. Under the 2017 forecast, the IMF forecasts real GDP growth to increase to around 6.5 percent in the medium term. To this end, the Fund has encouraged the Burkinabe government to implement structural and...
(APA 08/03/17)
The new president of the Confederation of African Football (CAF), Ahmad Ahmad is expected in the Burkinabe capital Ouagadougou on Thursday for a visit which will last until 6 August, the country’s football federation told APA on Wednesday. During the course of his trip, the new Malagasy boss of CAF will meet the authorities, the executive committee of the Burkina Faso Football Federation and the Mogho-Naaba or supreme leader of the Moose ethnic groups. The head of the African football governing body will witness the men’s and women’s finals of the Faso Cup. He will also field questions at a press conference in a hotel in the capital Ouagadougou. Upon arrival at Ouagadougou airports on July 3 around 7:45 pm,...
(Xinhuanet 08/03/17)
Trade between China and Africa reached 85.3 billion U.S. dollars in H1, surging 19 percent year on year as the two sides strengthened cooperation in a wide range of areas, official data showed Thursday. The data reversed the negative growth trend since 2015, according to Gao Feng, spokesperson with the Ministry of Commerce. During January-June, Chinese imports from Africa, including minerals, agricultural products and fruits, amounted to 38.4 billion U.S. dollars, jumping 46 percent from the same period last year, while exports gained 3 percent to 47 billion U.S. dollars. Transport equipment has become a bright spot in China's exports to African countries, with that of ships, trains and aerospace equipment up 200 percent, 161 percent and 252 percent respectively,...
(AFP (eng) 08/02/17)
French and German support for a regional Sahel force to battle jihadists will persuade other European nations of the benefits of backing the counter-terror measure, Germany's defence minister said Tuesday. Ursula von der Leyen spoke to journalists in Bamako after talks with President Ibrahim Boubacar Keita, arriving six days after a helicopter crash in the country's north killed two German crew who were monitoring clashes for the United Nations mission to Mali. Von der Leyen said the discussion had centred on the autumn deployment of the force from the so-called "G5 Sahel" countries (Burkina Faso, Chad, Mali, Mauritania, Niger)
(Agence Ecofin 08/02/17)
In Burkina Faso, the ministry of Power announced that the Zagtouli photovoltaic power plant is 90% complete and that it will start operating “very soon”, Xinhua reports. Situated in Zagtouli, in the suburb of Ouagadougou, the plant will comprise 129,600 panels of 260W, generating a total of 33.7MW to meet 10% of the current demand of the country’s distribution network. It will also be one of the largest solar plants in sub-Saharan Africa. For a cost of FCFA46 billion or $78 million, the project’s main investors are the European Investment Bank, Agence française de développement and the European Union. Burkina Faso’s average power demand is 220MW while the nation currently produces only 177MW. The country meets this deficit with imports...
(Bloomberg 08/02/17)
Julien Ochala can’t live without his morning cup of Joe. But not just any coffee will do. For the past five years, the 37-year-old physiology lecturer at King’s College London has visited the same store every week to grab a pack of his beloved Kenyan brew. And he’s not put off by the cost: at 37 pounds a kilogram ($22 a pound), it’s more than double a similar supermarket product. "I take Kenyan coffee every morning," said Ochala, who buys his beans from Monmouth Coffee Company in Borough Market. "I love it because of the relatively higher acidity level. It keeps me active in the afternoons." Customers willing to pay a premium for African brews, known for their floral, fruity...
(Agence Ecofin 08/01/17)
Fall armyworms have ravaged in Burkina Faso more than 30,000 hectares of lands dedicated to maize, sorghum and rice farming, Bloomberg reports citing the country’s minister of agriculture. “The damage may be more widespread as the government is still assessing the affected areas,” said Moussa Ouattara, crop protection director at the Agriculture ministry. “The government has spent 1.3 billion CFA francs ($2.3 million) distributing insecticide to fight the outbreak, but has appealed to farmers to buy their own pesticides,” Ouattara added. It should be recalled that fall armyworms (Spodoptera frugiperda) were first signaled in Africa in 2016. From then to June 2017, they have affected 19 countries across the continent, according to the United States Department of Agriculture (USDA). Espoir Olodo
(Reuters (Eng) 08/01/17)
Germany on Monday lent support to France's push to make operational a new multinational military force that will tackle Islamist militants in Africa's Sahel region and urged other powers to contribute funds at an Autumn donor conference. On a joint visit to Niger's capital, Niamey, German Defense Minister Ursula von der Leyen and her French counterpart, Florence Parly, said the Sahel force was West Africa's best hope for defeating the militants. Some observers see the G5 Sahel force — comprised of troops from Mali, Mauritania, Burkina Faso, Niger and Chad
(Bloomberg 08/01/17)
British American Tobacco Plc faces a formal probe by the U.K.’s Serious Fraud Office following reports that the maker of Dunhill cigarettes bribed African government officials to influence tobacco legislation. BAT said Tuesday it is running its own investigations, via external legal advisers, into allegations of misconduct and is cooperating with the U.K. prosecutor. A BBC report two years ago said BAT had a lobbyist arrange bribes totaling $26,000 for three public officials in Rwanda, Burundi and the Comoros Islands in 2015. The British broadcaster said the bribery was revealed by a former employee, Paul Hopkins. At the time, BAT said “we do not tolerate corruption in our business, no matter where it takes place.” The SFO investigation adds to...
(Reuters (Eng) 07/28/17)
Barclays reported a 1.2 billion pound ($1.57 billion)attributable first half loss on Friday after taking a 2.5 billion pound hit from the sale of its Africa business and calling an end to its restructuring. The British bank said it had made a 1.4 billion pound loss on the sale of 33 percent of Barclays Africa Group, and took a further 1.1 billion pound impairment charge on the sale. Barclays in June cut its stake in Barclays Africa Group to 15 percent, ending more than 90 years as a major presence in the continent as it shifts its focus back to Britain and the United States. The losses from the sale of unwanted assets including the Africa business showed the costs...
(AfricaNews 07/27/17)
At a time when Africa is going through a difficult situation, the blue economy is emerging as a stepping stone to relaunch the continent in the right economic direction. But this type of economy is seriously threatened by “predators” who do not hesitate to plunder resources. The “cancer of illegal fishing” costs Africa about $ 1.6 million annually based on Economic Commission for Africa’s estimates. This and more on this week’s edition segment on Business on the Morning Call with Jean David Mihamle.
(AFP (eng) 07/25/17)
Suspected jihadists killed five people in a series of attacks overnight in northern Burkina Faso, local officials and security sources said Tuesday. Gunmen carried out three separate attacks in Soum province, a local official in Djibo, the main town there, told AFP. The province sits on Burkina Faso's northern border with Mali. A security source who asked not to be named confirmed details of the attacks to AFP. "Those who carried out the attack, probably terrorists, were travelling by motorbike and it's possible that this series of attacks was the work of the same individuals," he added. Paramilitary recruits and soldiers were searching the area Tuesday, local people said. The northern part of Burkina Faso bordering Mali and Niger has...
(Voice of America 07/25/17)
European and African ministers are meeting in Tunisia about efforts to regulate the flow of refugees from Africa to Europe, primarily along the deadly central Mediterranean route originating in Libya. In a declaration Monday in Tunis, the capital, the ministers said they agreed on a multi-pronged approach to the crisis, including informing people about the risks of illegal migration and the possibility of voluntarily returning home, addressing why migrants leave home and beefing up actions against human traffickers. Participating in the meetings were interior ministers from Algeria, Austria, Chad, Egypt, France, Germany, Italy, Libya, Mali, Malta, Niger, Slovenia, Switzerland, Tunisia and Estonia, which currently holds the EU Council presidency. Through the first half of 2017, nearly 84,000 migrants arrived in...
(APA 07/24/17)
The first edition of Culture and Traditional Music Urban Festival of Burkina Faso (FEMUB) will take place from October 12 to 15, the committee organization announced. According to the organizers, the event will take place in partnership with Radio France International (RFI), the governorate of Hauts Bassins and the municipality of Bobo-Dioulasso. “The festival will be followed by a great culinary fair called “Grand Prix Farafina sia mousso dambé,” reports said. Several prizes will be awarded, including the Farafina Dambé Prize worth 1 million for the ethnic groups of Burkina Faso, the RFI Colors Tropical Award for Dozos traditional hunters and the Grand Prix Farafina Syamousso Dambé for the culinary fair. To this must be added the Grand Prix Sotigui...
(AFP (eng) 07/24/17)
Senior politicians in the Economic Community of West African States (ECOWAS) on Saturday called for measures to cut the birth rate in the region in order to bring the population explosion there under control. Deputies of ECOWAS, Mauritania and Chad should be aiming to cut back the birth rate to three children per woman, said Salifou Diallo, Burkina Faso's speaker of parliament. The idea, he said, was to cut the birth rate in half by 2030, in a region that has the highest fertility rates in the world. He called for countries to adopt measures including universal access to family planning, improved education for women and better health care of children, to bring about "a rapid, voluntary decline" in the...

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