Monday 23 October 2017
(Bloomberg 09/15/17)
Societe Generale SA, challenged on its home turf by Orange SA’s push into banking, is fighting back with a new mobile lender in Africa. The French lender started YUP, a new app for smartphones, in Senegal and Ivory Coast and plans to begin operating in four other sub-Saharan countries this year and next, the company said on Thursday. The bank aims to double its client base to 2 million in the region within three years. “Telcos have opened the way and they’ve gotten ahead,” Alexandre Maymat, who oversees Societe Generale’s operations in French-speaking Africa, said at a press briefing. “We’re catching up” by redefining the retail strategy and providing a broader offering than telephone companies. Chief Executive Officer Frederic Oudea...
(AfricaNews 09/13/17)
President Sassou Nguesso is set for dialogue with the Ninja rebel group to end the Pool region crisis. This comes just as the UN vowed to investigate the atrocities in the region. Chief of congo’s parliament, Isidore Mvouba gave the hint about dialogue in a closing speech after setting up the governing bodies and the legal framework of the National Assembly. According to him, President N’Guesso had acceded to the desire to establish in the immediate future dialogue on the Pool region.
(Xinhuanet 09/13/17)
In an effort to promote economic development and solve complex conservation challenges facing world heritage sites, the African World Heritage Fund Patron and former President of Namibia Hifikepunye Pohamba will host a business leader's breakfast event in Namibian Capital, Windhoek on Thursday. The African World Heritage Fund is an initiative of the African Member States of the African Union and UNESCO, launched in 2006. Webber Ndoro, executive director of the African World Heritage Fund, at a media briefing on Tuesday in Windhoek said that the aim of the event is to promote a holistic private sector engagement, raise a sense of ownership and accountability for heritage protection as well as transmission of World Heritage sites in Namibia and Africa. "To...
(APA 09/12/17)
The President of Guinea Bissau José Mario Vaz on Monday started a 48-hour working visit to Brazzaville, with a one-on-one meeting with his host, President Denis-Sassou N'Gesso, a source close to the Congolese presidency said Tuesday. During their talks, “the two leaders talked about a number of problems, including the situation in Guinea-Bissau characterized by institutional instability, bilateral relations between Congo and Guinea-Bissau, and current affairs on the African continent,” the source said. President José Mario Vaz will also award his host with the highest honor of Guinea-Bissau named “Amilcar Cabral,” hero of the fight for independence. The ceremony will take place at Brazzaville State House.
(Reuters (Eng) 09/12/17)
Olympic boxing’s governing body, AIBA, has banned African confederation head Kelani Bayor for three years for allegedly provoking the crowd at the continental championships in Brazzaville last June. Bayor is an AIBA vice-president and executive committee member as well as chairman of Togo’s national Olympic committee. “The Disciplinary Commission found that a hostile and threatening reaction to AIBA officials by spectators after the result of a bout on the last day of the competition was exacerbated by comments from Mr Bayor,” AIBA said in a statement on Monday. It found Bayor had “committed serious and unacceptable violations of the AIBA Disciplinary Code” at the tournament in Congo Republic. AIBA said the ban was from all boxing activities and responsibilities and...
(AfricaNews 09/11/17)
President Jacob Zuma on Sunday welcomed progress made in discussions in the Republic of Congo towards the resolution of the conflict in Libya. Zuma was in Brazzaville to attend the 4th meeting of the African Union (AU) high level panel on Libya chaired by President Denis Sassou-N'Guesso of the Republic of Congo, the presidency said in a statement. The meeting had considered reports by the United Nations special representative, the League of the Arab States (LAS), the European Union (EU), and AU representative, former Tanzanian president Jakaya Mrisho Kikwete.
(Bloomberg 09/11/17)
The South African companies that dominate the U.K.’s growing private hospital industry are counting on more people like Katie Corrie. A children’s party entertainer, Corrie opted to use 13,000 pounds ($17,000) of her savings and inheritance to get a hip replacement rather than spend months on a National Health Service waiting list. Britons like her are forking out almost 1 billion pounds a year to cover their own medical expenses, a trend that’s giving at least one industry the scope to look past Brexit turmoil. “Even if I hadn’t had the money put aside, I would have found a way to pay for it,” said Corrie, 50, who estimates the business she runs with her husband would have lost 10,000...
(APA 09/08/17)
A summit on the Libyan crisis opens Saturday in Brazzaville under the aegis of Congolese President Denis Sassou N’Guesso, in his capacity as chairman of the African Union High-Level Committee on Libya, the Foreign Ministry said on Friday. The Head of the national unity government, Fayez al-Sarraj; Marshal Khalifa Haftar, who controls much of Libya, and Anguila Sala Issa, president of the Libyan parliament, will take part in the meeting which aim is to restore peace in this country plunged into violence since the fall of Muammar Gaddafi’s regime in 2011. The Brazzaville reunion will also include the participation of delegates from other countries members of the High Level Committee of the African Union on this Libyan crisis, namely Niger,...
(APA 09/08/17)
Deprivation and marginalization, underpinned by weak governance, are primary forces driving young Africans into violent extremism, according to a comprehensive new study by the United Nations Development Programme (UNDP), the first study of its kind. Based on interviews with 495 voluntary recruits to extremist organizations such as Al-Shabaab and Boko Haram, the new study also found that it is often perceived state violence or abuse of power that provides the final tipping point for the decision to join an extremist group. “Journey to Extremism in Africa: Drivers, Incentives and the Tipping Point for Recruitment” presents the results of a two-year UNDP Africa study on recruitment in the most prominent extremist groups in Africa. The study reveals a picture of a...
(APA 09/07/17)
APA-Brazzaville (Congo) - Ahead of the 4th AU High-Level Committee Summit to be held on 9 September in Congo Brazzaville, president Joseph Kabila Kabange of the Democratic Republic of Congo (DRC) late Thursday arrived in Brazzaville for a day’s working visit, APA can report. Kabila's meeting with his Congolese counterpart, Denis Sassou N’Guesso, will focus on the political situation in the two Congos and current affairs in Africa and the world. There will be a final communiqué at the end of their tete a tete, and President Kabila will return to Kinshasa late in the afternoon. His last visit to Congo was in June 2016.
(Bloomberg 09/07/17)
African Rainbow Minerals Ltd., the miner chaired by South Africa’s richest black businessman, will pay a record dividend this year as rising iron-ore and manganese prices boosted earnings at its ferrous unit. ARM will pay investors 6.50 rand a share, almost triple that of the previous year, and its 11th consecutive dividend, the Johannesburg-based company said in a statement Thursday. The company benefited from a 45 percent increase in prices received for exported iron ore and 93 percent more for its manganese. While ARM is “confident in the long-term outlook for commodities,” the company said prices will “remain volatile” this year. The rand, in which ARM pays most of its costs, has strengthened against the dollar this year, reducing earnings...
(AFP (eng) 09/05/17)
Atletico Madrid midfielder Thomas Partey scored a hat-trick as Ghana hammered Congo 5-1 in Brazzaville Tuesday to keep alive their slim 2018 World Cup qualification hopes. Serbia-based Richmond Boakye bagged a brace as the Black Stars achieved their biggest away winning margin in an eliminator since a 4-0 triumph over Cape Verde 12 years ago. Vladis-Emmerson Illoy-Ayyet scored for Congo, who entered the Group E match at Stade Kintele confident of success after holding Ghana 1-1 in Kumasi last Friday.
(Bloomberg 09/05/17)
A surge in agriculture has helped lift Africa’s biggest economies out of their slumps, but the recovery may be weak. Gross domestic product in Nigeria, the continent’s largest crude producer, advanced for the first time in six quarters in the three months ended June from a year earlier, growing 0.55 percent, the statistics agency said. In South Africa, GDP expanded 2.5 percent from the previous quarter, ending the second recession in almost a decade. Both economies had agriculture largely to thank: in South Africa, a bumper corn harvest following the worst drought in more than a century saw the sector surge 34 percent from the prior quarter, while in Nigeria, where farming vies with industries as the second-biggest contributor to...
(Bloomberg 09/04/17)
The worst may be over for Africa’s two largest economies as they likely emerged from a slump in the second quarter. Official data on Tuesday will probably show South Africa’s economy expanded in the three months through June, ending its second recession in less than a decade. Nigeria’s gross domestic product probably grew from a year earlier, and came out of its worst slump in a quarter of a century. South Africa and Nigeria together account for almost half of sub-Saharan Africa’s GDP and their recoveries may boost trade and production across the region. The reasons differ: while Nigeria, the continent’s biggest oil producer, is benefiting from a rebound in crude output, stronger retail sales may help drive growth in...
(Agence Ecofin 08/31/17)
In Congo, the new minister of land affairs and State domains, Pierre Mabiala, announced on August 28 upon taking office in Brazzaville that “he will go after all those occupying public lands anarchically”. “Land and State domains management must be better handled as this would help diversify the economy. It must be done regularly and efficiently. We will do so to deal with anarchic occupations of lands in our country,” said the official cited by the Agence d’information d’Afrique centrale. “In terms of cooperation, Turkey said it wishes to train Congolese experts on land registry, cadastre, IT, mapping, land and technical infrastructures. Moreover, draft agreements were signed with countries like Senegal, Cote d’Ivoire and Turkey,” the press agency indicated.
(Xinhuanet 08/31/17)
Cooperation between China and Africa has seen remarkable progress in renewable energy, showing the determination of developing countries to harness the huge potential of clean energy and combat climate change. China-Africa Renewable Energy Cooperation and Innovation Alliance, a coalition of financing institutions, smart grid providers and core manufacturers, on Thursday signed a Memorandum of Understanding (MOU) on cooperation with Africa Renewable Energy Initiative (AREI). "Africa has the highest potential for renewable energy, but the least access to it," said Seyni Nafo, chairman of AREI endorsed by the African Union Assembly. The MOU will enable the two parties to cooperate in renewable energy generation in Africa, with Chinese smart grid providers and core renewable energy manufacturers providing technological and financial support...
(APA 08/30/17)
APA - Douala (Cameroon) - Public spending within Central African Economic and Monetary Community (CEMAC) countries declined by 4000 billion CFA over the past triennium (2014-2017), the Bank of Central African States (BEAC) said Wednesday. Clearly, these expenditures have gone from 7,000 billion CFA in 2014 to stabilize at 3,000 billion CFA in 2017, a staggering decreased of 4,000 billion CFA in three years. This drastic reduction in public spending is the consequence of the fiscal adjustment measures implemented within the states or enacted by the BEAC since the decline in global commodity prices. These include the drop in oil price on the international market, which is detrimental to the economies of the subregion, especially as five of the six...
(Bloomberg 08/30/17)
One Thousand & One Voices LLC, a private-equity fund started by the great-grandson of the founder of Coors Brewing Co., said it bought a producer of sushi-quality trout that is the largest such facility in Africa. SanLei’s operations are on the Katse Dam in Lesotho, an enclave surrounded by South Africa, 1K1V, as the fund is known, said in an emailed statement Tuesday. The company didn’t disclose the value of the transaction. SanLei has secured a marketing and distribution agreement with CGC Japan Co., which has more than 4,000 stores and collective revenue of more than $40.5 billion, making it Japan’s largest joint-procurement supermarket chain, 1K1V said. The fund has been hunting for private-equity investments that tap Africa’s growing consumer...
(Reuters (Eng) 08/29/17)
Europe’s “big four” continental powers and three African states agreed a plan on Monday to tackle illegal human trafficking and support nations struggling to contain the flow of people across the desert and Mediterranean sea. The 28-nation European Union has long struggled to reach a coherent answer to the influx of migrants fleeing war, poverty and political upheaval in the Middle East and Africa, and the crisis is testing cooperation between member states. After hosting the leaders of Germany, Italy, Spain, Chad, Niger and Libya, French President Emmanuel Macron said it was time for greater coordination. “We must all act together - from the source countries to Europe and passing by the transit countries, especially Libya - to be efficient,”...
(Reuters (Eng) 08/28/17)
Getting Europe’s migrant crisis under control will be in focus at a summit of Europe’s “big four” continental powers and three African nations in Paris on Monday, with French President Emmanuel Macron seeking concrete action. The 28-nation European Union has struggled to agree on a coherent answer to the influx of migrants fleeing war, poverty and political upheaval in the Middle East and Africa, and the crisis is testing cooperation between member states. Over the summer, Macron sought to take the initiative on managing the flow of migrants crossing the Mediterranean from Libya, mainly into Italy. He proposed hotspots in Africa to handle asylum requests. The viability of such centers was questioned by European and African allies and on Monday...

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