Thursday 25 May 2017

Côte d'Ivoire

(Bloomberg 05/24/17)
Three ex-rebels in Ivory Coast were killed Tuesday when police broke up a road blockade to end a protest by the former fighters over bonus payments. As many as 19 people, including five police personnel and gendarmes, were injured in the fighting in Bouake, the second-biggest city, Interior and Security Minister Hamed Bakayoko said in an emailed statement. The assault came after the protesters rejected talks to end their blockade of the southern access road to the town, Bakayoko said. The three people died when protesters “pulled the pin out of an offensive grenade which exploded,” he said in the statement.
(Xinhuanet 05/24/17)
China is willing to strengthen cooperation with African countries within the framework of the Belt and Road Initiative, visiting Chinese Foreign Minister Wang Yi said here on Monday. Speaking at a press conference, Wang said his current visit to four African countries comes right after the Belt and Road Forum for International Cooperation was successfully held in Beijing. The four countries, i.e. Mauritania, Cape Verde, Mali and Cote d'Ivoire, have all expressed willingness to participate in China's Belt and Road Initiative. Many African countries are at the natural and historical extension of the Maritime Silk Road, Wang said. If they agree with the spirit and concept of the Belt and Road Initiative, they can be cooperative partners. Proposed by Chinese...
(AFP (eng) 05/24/17)
Manchester City's Ivory Coast football great Yaya Toure is to donate along with his agent £100,000 to the victims and their families of Monday's suicide bombing at a pop concert in Manchester that killed 22 people and left more than 60 injured. The 34-year-old four-time African player of the year -- capped 102 times and a member of the Ivory Coast side that ended a 23-year drought in lifting the 2015 Africa Cup of Nations -- is organising through his...
(Reuters (Eng) 05/24/17)
When U.S. President Donald Trump and other leaders of the world's seven major industrialized nations gather in Sicily on Friday, they will enjoy a spectacular view of the Mediterranean Sea, but won't get any glimpse of boats full of migrants. A common sight off Sicily in recent years, the authorities have banned all migrant landings on the island during the Group of Seven Summit for security reasons, telling rescue vessels that pick them up at sea to take them to...
(AFP (eng) 05/23/17)
Four people were killed and many hurt when police clashed Tuesday with former rebels barricading the road into Bouake, Ivory Coast's second biggest city, in the spillover from a corrosive army mutiny over pay. The protesters said security forces opened fire to disperse them, but the government denied responsibility. "Security forces deployed conventional measures to maintain order," Interior Minister Hamed Bakayoko said in a statement. "But some of the armed demonstrators pulled the pin out of a grenade that exploded among them," he added. Three bloodied bodies were brought into the main Bouake hospital, an AFP reporter said, shortly after police stepped in to evict protesters who had obstructed the northbound road into
(Reuters (Eng) 05/23/17)
Fossils from Greece and Bulgaria of an ape-like creature that lived 7.2 million years ago may fundamentally alter the understanding of human origins, casting doubt on the view that the evolutionary lineage that led to people arose in Africa. Scientists said on Monday the creature, known as Graecopithecus freybergi and known only from a lower jawbone and an isolated tooth, may be the oldest-known member of the human lineage that began after an evolutionary split from the line that led...
(Reuters (Eng) 05/22/17)
Countries in sub-Saharan Africa need to get their budgets in order, diversify their economies and look after their poorest people. If they do that, there is no reason why the region cannot have the strong growth needed to meet the aspirations of a young and growing population. That, at least, is the three-pillared prescription from the International Monetary Fund as expressed by one of its top Africa researchers, Celine Allard, in an official IMF blog post and podcast. Allard co-authored...
(Reuters (Eng) 05/20/17)
France will step up the fight against resurgent Islamist militants in north and west Africa and will work more closely with Germany to help the tinderbox region, President Emmanuel Macron said on his first trip outside Europe on Friday. Visiting Mali days after taking office, Macron vowed to keep French troops in the Sahel region until there was "no more Islamist terrorism" there. He said operations would be escalated in response to signs that militant groups were regrouping and uniting...
(AFP (eng) 05/19/17)
Following a string of mutinies, plummeting cocoa prices, depressed growth and social unrest, Ivory Coast's economic "miracle" has taken a battering and runs the risk of turning into a mirage. Crippled by a decade-long conflict that began in 2002, the world's top cocoa producer has made a spectacular comeback since President Alassane Ouattara took office in 2011. Despite being reelected two years ago, Ouattara faces mounting woes that are threatening his authority, his credibility -- and his efforts to lockdown...
(Graphic Online 05/19/17)
History of gold mining in large quantities in Ghana began in the 15th Century when Portuguese traders encountered gold in the country’s soil along the coast. The country derives its name, Gold Coast, from the abundance of gold in the land. Until 1981, known gold deposits in the country were limited to the southern belt. In 1981, the discovery of gold in the country from the coastal parts right to the northern sectors dramatically changed the landscape of Ghana’s gold...
(Reuters (Eng) 05/19/17)
When rich countries wrote off billions of dollars of African debt in 2005, they hoped governments would think twice about borrowing again in costly foreign currencies. Over a decade later, most sub-Saharan African countries still rely on U.S. dollar-denominated debt to finance their economies. Some investors say this is sowing the seeds of future debt crises if local currencies devalue and make dollar debt repayments more expensive. Aside from South Africa and Nigeria, governments have not yet done enough to...
(Bloomberg 05/18/17)
Steinhoff International Holdings NV plans to list its African assets separately as the acquisitive retailer seeks a new prize for shareholders following this year’s failed merger talks with Shoprite Holdings Ltd. The company said Wednesday it will seek to list businesses including clothing retailer Pepkor and furniture chain JD Group Ltd. on the Johannesburg Stock Exchange, about 18 months after moving its primary listing to Frankfurt from the South African commercial hub. The new business could be worth as much...
(Bloomberg 05/17/17)
Soldiers in Ivory Coast said they halted their protest after the government agreed to pay them bonuses, ending a four-day mutiny that paralyzed several cities and left two people dead. The government will pay each soldier 5 million CFA francs ($8,374) before the end of the week and another 2 million francs at a later date, soldier Tahirou Diarrrassouba said by phone on Tuesday from the second-biggest city and center of the mutiny, Bouake. Troops in other cities that joined...
(Reuters (Eng) 05/17/17)
Gay and lesbian Africans who fled abuse in their home countries face a "culture of disbelief" which makes their experience of seeking asylum in Britain traumatic, a Nigerian lesbian, gay, bisexual, transgender rights (LGBT) campaigner said. Aderonke Apata, 50, who fled persecution in Nigeria, said the practice of assessing Africans' sexual orientation claims based on Western standards was problematic. "They expect an LGBT person to have used sex toys, to go to gay clubs," Apata, an asylum seeker who founded...
(AFP (eng) 05/16/17)
Rebel troops in Ivory Coast on Tuesday said they were ending a four-day mutiny after coming to an agreement with the government over a pay dispute. "We have found a basis for agreement. We are returning to barracks," Sergeant Cisse Fousseni told AFP as others said all their demands had been met. The government offered an immediate payment of five million CFA francs (7,500 euros) and an extra two million to be paid next month, source among the mutineers said. Defence Minister Alain-Richard Donwahi announced late Monday that an agreement had been struck with the mutineers
(AFP (eng) 05/16/17)
Heavy gunfire rang out Monday in Ivory Coast's two biggest cities as a four-day mutiny by disgruntled soldiers spread nationwide but the government claimed a deal to end the crisis had been reached. Banks, offices and department stores closed in the heart of the economic capital, Abidjan, as shots were fired in San Pedro, the second biggest port in the world's top cocoa-producing nation. Border posts closed, halting road traffic to Mali, Burkina Faso and Niger, while Ivory Coast's second...
(Reuters (Eng) 05/16/17)
Renegade soldiers in Ivory Coast on Monday rejected a proposed deal to end their mutiny over unpaid bonuses just minutes after the defense minister announced on state-owned television that an agreement had been reached. President Alassane Ouattara's government has been trying to restore order for four days after 8,400 mutineers took control of the second-biggest city, Bouake, and spread their revolt to cities and towns across the country. Heavy gunfire on Monday paralyzed much of Abidjan, the commercial capital, and...
(Bloomberg 05/16/17)
Cocoa rose, extending last week’s surge in prices, following a failure of talks between army commanders and mutinous soldiers over the weekend in Ivory Coast, the world’s biggest producer. The beans jumped as much as 4.4 percent in London and also gained in New York trading after Ivory Coast’s military was said to have given soldiers an ultimatum on Sunday to drop their pay demands and end a revolt. Special forces will take action against the soldiers should the talks...
(Bloomberg 05/16/17)
Ivory Coast’s government announced it reached an agreement with soldiers to end a four-day mutiny over pay that disrupted cities across the nation, even though some troops said they were unaware of a deal and would continue with their revolt. Military staff and rebel soldiers made a pact after two days of talks, Defense Minister Alain Donwahi said Monday in a broadcast on state television, RTI, without elaborating on details of the agreement. “We call on all soldiers to free...
(Bloomberg 05/16/17)
When the impoverished West African nation of Niger imposed a ban on donkey exports last year, a small community of traders just over the border in Nigeria was devastated. “Before the ban, you could see thousands of donkeys here,” said Mohammed Sani, a 45-year-old trader in the Nigerian town of Jibiya, as he wiped the sweat off his brow. “Now look at them: there’s no more than 50, crippling the business.” Donkeys are being slaughtered at an alarming pace to...

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(Bloomberg 05/24/17)
Three ex-rebels in Ivory Coast were killed Tuesday when police broke up a road blockade to end a protest by the former fighters over bonus payments. As many as 19 people, including five police personnel and gendarmes, were injured in the fighting in Bouake, the second-biggest city, Interior and Security Minister Hamed Bakayoko said in an emailed statement. The assault came after the protesters rejected talks to end their blockade of the southern access road to the town, Bakayoko said. The three people died when protesters “pulled the pin out of an offensive grenade which exploded,” he said in the statement.
(Reuters (Eng) 05/24/17)
When U.S. President Donald Trump and other leaders of the world's seven major industrialized nations gather in Sicily on Friday, they will enjoy a spectacular view of the Mediterranean Sea, but won't get any glimpse of boats full of migrants. A common sight off Sicily in recent years, the authorities have banned all migrant landings on the island during the Group of Seven Summit for security reasons, telling rescue vessels that pick them up at sea to take them to the mainland during the two-day meeting. Out of sight does not mean out of mind. Italy chose to host the summit in Taormina, on the cliffs of eastern Sicily, to concentrate minds on Europe's migrant crisis and to seek ways...
(AFP (eng) 05/23/17)
Four people were killed and many hurt when police clashed Tuesday with former rebels barricading the road into Bouake, Ivory Coast's second biggest city, in the spillover from a corrosive army mutiny over pay. The protesters said security forces opened fire to disperse them, but the government denied responsibility. "Security forces deployed conventional measures to maintain order," Interior Minister Hamed Bakayoko said in a statement. "But some of the armed demonstrators pulled the pin out of a grenade that exploded among them," he added. Three bloodied bodies were brought into the main Bouake hospital, an AFP reporter said, shortly after police stepped in to evict protesters who had obstructed the northbound road into
(Reuters (Eng) 05/23/17)
Fossils from Greece and Bulgaria of an ape-like creature that lived 7.2 million years ago may fundamentally alter the understanding of human origins, casting doubt on the view that the evolutionary lineage that led to people arose in Africa. Scientists said on Monday the creature, known as Graecopithecus freybergi and known only from a lower jawbone and an isolated tooth, may be the oldest-known member of the human lineage that began after an evolutionary split from the line that led...
(Reuters (Eng) 05/20/17)
France will step up the fight against resurgent Islamist militants in north and west Africa and will work more closely with Germany to help the tinderbox region, President Emmanuel Macron said on his first trip outside Europe on Friday. Visiting Mali days after taking office, Macron vowed to keep French troops in the Sahel region until there was "no more Islamist terrorism" there. He said operations would be escalated in response to signs that militant groups were regrouping and uniting...
(Bloomberg 05/17/17)
Soldiers in Ivory Coast said they halted their protest after the government agreed to pay them bonuses, ending a four-day mutiny that paralyzed several cities and left two people dead. The government will pay each soldier 5 million CFA francs ($8,374) before the end of the week and another 2 million francs at a later date, soldier Tahirou Diarrrassouba said by phone on Tuesday from the second-biggest city and center of the mutiny, Bouake. Troops in other cities that joined...
(Reuters (Eng) 05/17/17)
Gay and lesbian Africans who fled abuse in their home countries face a "culture of disbelief" which makes their experience of seeking asylum in Britain traumatic, a Nigerian lesbian, gay, bisexual, transgender rights (LGBT) campaigner said. Aderonke Apata, 50, who fled persecution in Nigeria, said the practice of assessing Africans' sexual orientation claims based on Western standards was problematic. "They expect an LGBT person to have used sex toys, to go to gay clubs," Apata, an asylum seeker who founded...
(AFP (eng) 05/16/17)
Rebel troops in Ivory Coast on Tuesday said they were ending a four-day mutiny after coming to an agreement with the government over a pay dispute. "We have found a basis for agreement. We are returning to barracks," Sergeant Cisse Fousseni told AFP as others said all their demands had been met. The government offered an immediate payment of five million CFA francs (7,500 euros) and an extra two million to be paid next month, source among the mutineers said. Defence Minister Alain-Richard Donwahi announced late Monday that an agreement had been struck with the mutineers
(AFP (eng) 05/16/17)
Heavy gunfire rang out Monday in Ivory Coast's two biggest cities as a four-day mutiny by disgruntled soldiers spread nationwide but the government claimed a deal to end the crisis had been reached. Banks, offices and department stores closed in the heart of the economic capital, Abidjan, as shots were fired in San Pedro, the second biggest port in the world's top cocoa-producing nation. Border posts closed, halting road traffic to Mali, Burkina Faso and Niger, while Ivory Coast's second...
(Reuters (Eng) 05/16/17)
Renegade soldiers in Ivory Coast on Monday rejected a proposed deal to end their mutiny over unpaid bonuses just minutes after the defense minister announced on state-owned television that an agreement had been reached. President Alassane Ouattara's government has been trying to restore order for four days after 8,400 mutineers took control of the second-biggest city, Bouake, and spread their revolt to cities and towns across the country. Heavy gunfire on Monday paralyzed much of Abidjan, the commercial capital, and...
(Bloomberg 05/16/17)
Ivory Coast’s government announced it reached an agreement with soldiers to end a four-day mutiny over pay that disrupted cities across the nation, even though some troops said they were unaware of a deal and would continue with their revolt. Military staff and rebel soldiers made a pact after two days of talks, Defense Minister Alain Donwahi said Monday in a broadcast on state television, RTI, without elaborating on details of the agreement. “We call on all soldiers to free...
(AFP (eng) 05/15/17)
Heavy gunfire rang out Monday in Abidjan and Bouake, Ivory Coast's two biggest cities, witnesses said, as a mutiny by disgruntled soldiers demanding bonuses entered its fourth day. It was the latest in a series of armed protests which have gripped the country since January, with troops angered by an unresolved dispute over wages and demanding the government of President Alassane Ouattara pay up. "This is not a coup. We want our bonuses. The president signed a paper saying he agreed with our bonuses. When he pays up, we'll go home," said a spokesman for troops...
(AFP (eng) 05/15/17)
Gunfire was heard early Monday in the Ivory Coast cities of Abidjan and Bouake, in the grip of a mutiny by ex-rebel soldiers, AFP journalists and witnesses said. In the economic capital of Abidjan, shots were fired at two military camps in Akouedo in the east of the city, which together form the country's largest military barracks, a nearby resident said. Sustained gunfire was also heard in the second-largest city of Bouake, where one person died on Sunday from bullet...
(Bloomberg 05/15/17)
Gunfire erupted at a key military camp in Ivory Coast’s commercial capital, Abidjan, and its second-biggest city of Bouake as a rebellion over unpaid bonuses entered a fourth day. The West African nation, which wants to issue a Eurobond next month, saw yields on its existing securities jump. Several explosions and sporadic shooting rocked Bouake, a transit hub that links Ivory Coast to its landlocked northern neighbors, from about 2:00 a.m., resident Siriki Koné said by phone Monday. In Abidjan,...
(AFP (eng) 05/14/17)
One person died Sunday after mutinous soldiers took to the streets in Ivory Coast's central second city Bouake as fresh tensions gripped the world's top cocoa grower. The victim was among five men and a mother-of-three who were hospitalised after being struck by warning shots fired to keep residents inside their homes, an AFP photographer saw. About 15 others were treated for minor injuries. "(He), Issouf Diawara, finally died from his bullet wounds," his brother Souleymane Diawara told AFP. "I...
(AFP (eng) 05/13/17)
Defiant soldiers blocked access to Ivory Coast's second-largest city on Saturday after firing guns into the air throughout the night, according to an AFP journalist at the scene. Rebellious soldiers had already taken to the streets Friday in Bouake, the economic capital of Abidjan and another city demanding pay increases. The city of Bouake was the epicentre of a mutiny in January by former rebel soldiers who had been integrated into the army, which triggered months of unrest. "We want...
(Reuters (Eng) 05/13/17)
Disgruntled soldiers blocked access to Ivory Coast's second largest city Bouake and gunfire rang out in other towns on Saturday as protests over a pay dispute extended into a second day despite government warnings of harsh punishments. The revolt began in Bouake early on Friday before spreading quickly, following a pattern similar to a mutiny in January by the same group that paralyzed parts of the West African state and marred its image as a post-war success story. In the...
(Reuters (Eng) 05/13/17)
Tackling climate change in Africa could help resolve multiple problems ravaging the continent, from drought to refugees and violence, the head of the African Union said on Friday. The mix of global warming with economic woes and political conflicts keeps peace from taking hold, said Moussa Faki Mahamat, the Union's new chairman, at Chatham House, an international think tank. "There is a link between climate change and prosperity, as well as peace, on the continent," Mahamat said in French with...
(AFP (eng) 05/12/17)
Disgruntled Ivorian soldiers took to the streets of Abidjan and two other cities on Friday, firing angrily into the air a day after publicly apologising for a string of recent uprisings. Rebellious troops surrounded the military's headquarters in Abidjan after a spokesman for the protesters publicly apologised to the president for a January mutiny which triggered months of unrest. At the heart of the matter is an unresolved dispute over pay, with the soldiers demanding hefty pay rises in a protest which has found echoes across the country. Troops took up position in front of the sprawling Gallieni military camp in the Plateau
(AFP (eng) 05/12/17)
Rebel soldiers surrounded the army headquarters in Ivory Coast's economic capital Abidjan on Friday and fired shots into the air, an AFP journalist said. Sporadic gunfire had rung out overnight in the country's second city of Bouake, just hours after national television broadcast a ceremony in which a soldier presented as a spokesman for 8,400 former rebels said they wished to apologise to President Alassane Ouattara for a mutiny in January.

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(Reuters (Eng) 05/22/17)
Countries in sub-Saharan Africa need to get their budgets in order, diversify their economies and look after their poorest people. If they do that, there is no reason why the region cannot have the strong growth needed to meet the aspirations of a young and growing population. That, at least, is the three-pillared prescription from the International Monetary Fund as expressed by one of its top Africa researchers, Celine Allard, in an official IMF blog post and podcast. Allard co-authored the Fund's regional economic outlook, released earlier this month. It found that sub-Saharan economic growth hit only 1.4 percent last year, the lowest level in two decades and well off the 5-6 percent rates normally...
(AFP (eng) 05/19/17)
Following a string of mutinies, plummeting cocoa prices, depressed growth and social unrest, Ivory Coast's economic "miracle" has taken a battering and runs the risk of turning into a mirage. Crippled by a decade-long conflict that began in 2002, the world's top cocoa producer has made a spectacular comeback since President Alassane Ouattara took office in 2011. Despite being reelected two years ago, Ouattara faces mounting woes that are threatening his authority, his credibility -- and his efforts to lockdown the nation's economic recovery. - A weakened president - Ouattara has on several occasions admitted to being "hurt" by a string of mutinies by disgruntled troops since January. And after the latest four-day protest, he is once again in a...
(Graphic Online 05/19/17)
History of gold mining in large quantities in Ghana began in the 15th Century when Portuguese traders encountered gold in the country’s soil along the coast. The country derives its name, Gold Coast, from the abundance of gold in the land. Until 1981, known gold deposits in the country were limited to the southern belt. In 1981, the discovery of gold in the country from the coastal parts right to the northern sectors dramatically changed the landscape of Ghana’s gold...
(Reuters (Eng) 05/19/17)
When rich countries wrote off billions of dollars of African debt in 2005, they hoped governments would think twice about borrowing again in costly foreign currencies. Over a decade later, most sub-Saharan African countries still rely on U.S. dollar-denominated debt to finance their economies. Some investors say this is sowing the seeds of future debt crises if local currencies devalue and make dollar debt repayments more expensive. Aside from South Africa and Nigeria, governments have not yet done enough to...
(Bloomberg 05/18/17)
Steinhoff International Holdings NV plans to list its African assets separately as the acquisitive retailer seeks a new prize for shareholders following this year’s failed merger talks with Shoprite Holdings Ltd. The company said Wednesday it will seek to list businesses including clothing retailer Pepkor and furniture chain JD Group Ltd. on the Johannesburg Stock Exchange, about 18 months after moving its primary listing to Frankfurt from the South African commercial hub. The new business could be worth as much...
(Bloomberg 05/16/17)
Cocoa rose, extending last week’s surge in prices, following a failure of talks between army commanders and mutinous soldiers over the weekend in Ivory Coast, the world’s biggest producer. The beans jumped as much as 4.4 percent in London and also gained in New York trading after Ivory Coast’s military was said to have given soldiers an ultimatum on Sunday to drop their pay demands and end a revolt. Special forces will take action against the soldiers should the talks...
(Bloomberg 05/16/17)
When the impoverished West African nation of Niger imposed a ban on donkey exports last year, a small community of traders just over the border in Nigeria was devastated. “Before the ban, you could see thousands of donkeys here,” said Mohammed Sani, a 45-year-old trader in the Nigerian town of Jibiya, as he wiped the sweat off his brow. “Now look at them: there’s no more than 50, crippling the business.” Donkeys are being slaughtered at an alarming pace to...
(Reuters (Eng) 05/06/17)
Ivory Coast and Ghana will work together to improve the organization and sale of their cocoa, Presidents Alassane Ouattara and Nana Akufo-Addo said on Friday at the end of a summit. The West African neighbors, the world's two biggest cocoa producers, will also improve coordination between their cocoa sector regulators, the presidents said in a statement after meeting in Ivory Coast's economic capital Abidjan. Cocoa is vital to the economies of both countries and Ivory Coast has already slashed its 2017 budget due to plummeting global cocoa prices. The two countries are also seeking African Development Bank funding to develop industries to add value to their cocoa with products such as cocoa paste
(Voice of America 05/05/17)
As Africa grapples with a severe drought, and famine threatens millions of people, experts at the World Economic Forum on Africa this week in the South African city of Durban say food security needs to be a major part of discussions on advancing the continent economically. The annual World Economic Forum in Switzerland is usually a high-powered event, but at this week’s Africa meeting of the international organization, the continent’s big players are welcoming the humble farmer, now known as...
(Xinhuanet 05/04/17)
The World Economic Forum (WEF) Africa Competitiveness Report 2017 released in Durban Thursday called for urgent policy reforms if the continent intends to create more jobs for its growing young population. According to the report issued at the 27th WEF on Africa, fewer than one-quarter of the 450 million new jobs required in the next 20 years will be created if current policies remain unchanged. The report called for structural reforms in the economies to create more jobs for the...
(Reuters (Eng) 05/03/17)
Hot weather and insufficient rainfall last week in top grower Ivory Coast's eastern cocoa regions are feeding concerns of a poor April-to-September mid-crop harvest there, farmers said on Tuesday. In the eastern region of Abengourou, known for the high quality of its beans, farmers were frustrated. "It's hot and it's not raining. When it rains it's not much," said Lambert Yao, who farms in the outskirts of Abengourou. "The mid-crop is lost for us, because there isn't much on the...
(Bloomberg 05/02/17)
Saudi Aramco is seeking to boost its fuel-trading volume by more than a third as the world’s biggest crude exporter expands its capacity to refine oil to grab a bigger share of growing markets in Asia and Africa. Aramco, as Saudi Arabian Oil Co. is known, is building refineries in the kingdom and in Asia to help it increase sales and purchases of gasoline, diesel and other products to more than 2 million barrels a day, said Ibrahim Al-Buainain, chief...
(Agence Ecofin 04/28/17)
After selling two Eurobonds in 2014 ($750 million) and 2015 ($1 billion), the Ivoirian government plans to issue another $1 billion bond denominated in foreign currency, Bloomberg reported on April 26 citing sources close to the case. The new issuance on the international debt market, the first since 2015, will help the government finance various infrastructure projects. Though the government is yet to release an official communiqué in this regard, the Eurobond which matures over 10 years, should be issued...
(AfricaNews 04/28/17)
Sub-Saharan Africa’s growth is showing signs of recovery this year after a tumultuous period in 2016. The World Bank estimates that GDP growth will rise to 2.6 percent in 2017 compared to 1.3 percent last year and rise further to 3.2 percent in 2018 and 3.5 percent a year later. “Sub-Saharan Africa is projected to grow at a moderate rate of 2.6 percent in 2017, and somewhat improve towards three percent in 2018. This timid recovery is certainly better than...
(Agence Ecofin 04/28/17)
Cote d’Ivoire secured a FCFA196 billion (more than $325 million) loan from World Bank’s arm, the International Development Association (IDA). The facility comes with an interest rate of 3% and a 25-year maturity period. Secured during the World Bank/IMF Spring Meetings, the loan will be used to rehabilitate and extend the national transport and power distribution network. Part of it will also serve to rapidly connect to the grid homes across the 10 regional capitals and rural areas in the...
(Agence Ecofin 04/28/17)
Moroccan lender Attijariwafa Bank will help Cote d’Ivoire establish two investment funds which aim to finance its tourism sector. This was revealed by Ivoirian minister of tourism, Siandou Fofana, during a meeting of the Club Afrique Development held on April 20, 2017. The first of the two funds is a "private investment fund dedicated to tourism and hospitality". According to M. Fofana, the fund will focus on boosting financing in toursim industry while bringing together private actors who share a...
(Bloomberg 04/27/17)
Ivory Coast plans to sell at least $1 billion in Eurobonds by the end of July to raise funds for infrastructure projects, the country’s first issuance of international debt since 2015, according to two people with knowledge of the plans. The government is negotiating to sell bonds with 10-year maturity and the sale will probably happen in June or July, according to the people, who asked not to be identified because a public announcement hasn’t been made. The West African...
(Business Day Ghana 04/27/17)
There are currently 960 million mobile subscriptions across Africa – an 80 percent penetration rate among the continent’s population. Internet penetration is at 18 percent with 216 million internet users, according to the latest Jumia mobile trend report for Africa. The 2017 edition of the African Mobile Trends Paper is the third white paper presentation from Jumia delving into mobile trends across Africa and specifically Nigeria. The study takes a look at the how the market has democratised mobile internet...
(Xinhuanet 04/26/17)
The Belt and Road (B&R) Initiative is a golden opportunity to bring about regional integration and sustainable economic growth for Africa, said Berhane Gebre-Christos, special envoy of the Ethiopian Prime Minister, on Tuesday. The special envoy made the remarks at the opening of a seminar organized on the B&R Initiative in Ethiopia's capital Addis Ababa. Welcoming the initiative, the special envoy said he is looking forward to the expected effects of the initiative. "The B&R is a project that will...
(Bloomberg 04/20/17)
WorldRemit Ltd., a British money-transfer operator, sees revenue from transactions involving Africans doubling by 2020 as more people on the continent access mobile-payment platforms and expatriates send cash home. The seven-year-old company, in which Facebook Inc.-backer Accel Partners LP invested $40 million in 2014, will this year open a regional office in South Africa, its largest market on the continent in terms of money-transfer value, founder and Chief Executive Officer Ismail Ahmed said in an interview. Another site will start...

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(AFP (eng) 05/24/17)
Manchester City's Ivory Coast football great Yaya Toure is to donate along with his agent £100,000 to the victims and their families of Monday's suicide bombing at a pop concert in Manchester that killed 22 people and left more than 60 injured. The 34-year-old four-time African player of the year -- capped 102 times and a member of the Ivory Coast side that ended a 23-year drought in lifting the 2015 Africa Cup of Nations -- is organising through his agent Dimitri Seluk to ensure the money goes to those it is intended for. "We want to help the victims -- the families of the dead or those who are now in hospital," Seluk told...
(AFP (eng) 04/17/17)
Ivorians Yaya Toure of Manchester City and Wilfried Zaha of Crystal Palace starred in the English Premier League at the weekend. Retired international and four-time African Footballer of the Year Toure bossed midfield as fourth-place City triumphed 3-0 at mid-table Southampton. Winger Zaha tormented Leicester City with his pace and power to help Palace come from two goals behind and draw 2-2 in a clash of lower-half sides. ENGLAND YAYA TOURE (Manchester City) The midfielder was at his commanding best as Manchester City secured an important 3-0 win over Southampton. Needing a victory to cement their place in the top four
(AFP (eng) 04/13/17)
Former Ivory Coast and Chelsea star Didier Drogba on Wednesday signed for US second tier team Phoenix Rising, vowing to help the club achieve its dream of entry to Major League Soccer. A Phoenix statement said Drogba, 39, would be a member of the club's playing staff before eventually switching to an executive role. "I have taken my time in deciding what I wanted to do next and am really excited about the opportunity at Phoenix Rising FC," Drogba said...
(Reuters (Eng) 04/13/17)
Former Chelsea striker Didier Drogba has agreed to join second-tier United States team the Phoenix Rising in an effort to help them join an expanded Major League Soccer (MLS) competition before he takes an executive role with the team when he retires. The Arizona team added on Wednesday the Ivorian would have a "vested interest" in the franchise. The Rising compete in the second tier United Soccer League (USL), but have applied for an expansion berth in MLS, who are...
(AFP (eng) 03/28/17)
FIFA said Tuesday it had launched an investigation into incidents which led to the abandonment of a friendly match between Ivory Coast and Senegal in Paris following a series of pitch invasions. The sides were level at 1-1 late Monday when French referee Tony Chapron called off the match in the 88th minute as fans from both sides flooded onto the pitch. Images showed rowdy supporters chasing across the pitch after climbing over fences while one fan was seen tackling...
(AFP (eng) 03/28/17)
Numerous pitch invasions forced Monday's friendly between Ivory Coast and Senegal in Paris to be abandoned before full-time. The sides were level at 1-1 when French referee Tony Chapron called off the match in the 88th minute as fans from both sides flooded onto the pitch. Liverpool forward Sadio Mane had given Senegal the lead on 67 minutes from the penalty spot but Fulham's Cyriac Gohi Bi equalised for the Ivorians just four minutes later. But after the latest in a number of pitch invasions, Chapron had had enough and the game was brought to a premature end.
(AFP (eng) 03/25/17)
England-based pair Jonathan Kodjia of Aston Villa and Crystal Palace's Wilfried Zaha fired Ivory Coast to a 2-0 win over Russia in a friendly at Krasnodar on Friday. It was Russia's third defeat in six matches since Stanislav Cherchesov took over as manager in August -- the other two coming against Costa Rica and Qatar last year. Ivory Coast's caretaker coach Ibrahim Kamara admitted his side had ridden their luck. "It was a tough match, like we expected," he told...
(AFP (eng) 03/21/17)
Former Belgium coach Marc Wilmots has been appointed to lead Ivory Coast's World Cup qualifying bid, the country's football authorities said on Tuesday. Wilmots, 48, is one of an elite band of players to have played at four World Cups, and also led Belgium into the 2014 World Cup during his stint as coach with them between 2012-2016. One of Africa's big guns and a regular World Cup qualifier, Ivory Coast flopped badly at the defence of their continental title...
(AFP (eng) 03/17/17)
Yaya Toure would consider a shock move to Manchester United if he leaves Manchester City at the end of the season, according to the Ivory Coast midfielder's agent. Toure is out of contract once the current campaign is over and his representative Dimitri Seluk has started talks with interested clubs. The 33-year-old has had a stormy relationship with City boss Pep Guardiola and was surprisingly left on the bench for his team's Champions League last 16 second leg defeat at Monaco on Wednesday. Toure hasn't been offered a new contract by City and the former Barcelona star would even consider becoming one of the few
(AFP (eng) 03/16/17)
Africa will host a Commonwealth Games one day despite the blow of Durban being stripped of hosting the 2022 edition, David Grevemberg, the chief executive of The Commonwealth Games Federation (CGF), told AFP. Durban lost the right to host the Games on Monday -- just 18 months after being awarded them -- when it failed to meet criteria laid down by the CGF, primarily over costs. "I wouldn't want to make a judgement call," Grevemberg told AFP on the sidelines...
(AFP (eng) 02/22/17)
Manchester City's Yaya Toure believes his side must score at least two more goals against Monaco if they are to reach the quarter-finals of the Champions League. City twice came from behind to defeat the Ligue 1 leaders in a stunning 5-3 win in the first leg of their last 16 clash at the Etihad Stadium on Tuesday, with Sergio Aguero scoring twice for the Premier League club. But given how their defence was tested at home, midfielder Toure said merely trying to defend their lead was not a viable tactic for the second leg in Monaco in three weeks' time.
(AFP (eng) 02/10/17)
Up to 18 players at the just-completed Africa Cup of Nations could be involved in the new-look CAF Champions League when it kicks off this weekend. Among them is Georges Bokwe, one of two unused goalkeepers in the Cameroon squad that defeated Egypt in the final last Sunday in Gabon. Bokwe was kept out of the starting line-up by the consistent brilliance of Spain-based Fabrice Ondoa, who was included in the team of the tournament. But Bokwe is the first...
(AFP (eng) 02/09/17)
Salomon Kalou's missed spot-kick put hosts Borussia Dortmund into the German Cup quarter-finals on Wednesday as Hertha Berlin lost 3-2 on penalties after a 1-1 draw. The Ivory Coast striker gave Hertha a first-half lead in the third-round cup clash in Dortmund when he volleyed home on 27 minutes after the hosts made a slow start. But Dortmund raised the pace as Marco Reus equalised straight after the break while Pierre-Emerick Aubameyang had a goal disallowed and Ousmane Dembele fired...
(AFP (eng) 02/01/17)
Former Chelsea striker Didier Drogba has refused an offer to join Corinthians of Brazil that would have included generous wages and a bullet-proof car. The Ivory Coast star, 38, is out of contract after a spell at Montreal Impact and was offered $120,000 (110,000 euros) a week, a 24-hours-per-day translator, six return tickets to Europe -- and a bullet-proof car. Drogba said on Twitter on Wednesday that he had spoken with the Corinthians president Roberto de Andrade to decline the...
(AFP (eng) 01/25/17)
Ivory Coast forward Salomon Kalou announced his retirement from international football after the reigning champions were eliminated from the Africa Cup of Nations on Tuesday. "I am 31, this is my sixth Africa Cup of Nations. I have been to a final and won another," said the 31-year-old after a 1-0 defeat to Morocco in Oyem condemned the Elephants to a group-stage exit. "This time things did not go so well. There are young players like (Franck) Kessie, (Wilfried) Zaha.....
(AFP (eng) 01/24/17)
Yaya Toure says he wants to remain at Manchester City and is not interested in moving to China, amid reports of a big-money offer from the Chinese Super League. Reports last week said Toure, 33, had rejected an approach from a Chinese club that would have seen him paid around £430,000 ($536,000, 499,000 euros) a week. With his contract up at the end of the season, the former Ivory Coast midfielder faces an uncertain future, but he says he has...
(AFP (eng) 01/23/17)
Having guided the Ivory Coast to glory at the 2015 Africa Cup of Nations, Herve Renard is now hoping to end his former side's defence of the trophy when they face his Morocco team on Tuesday. The script could not have been better written, with Renard's Morocco and the Elephants clashing in a winner takes all final Group C showdown in the northern Gabonese town of Oyem, kicking off at 2000 local time (1900 GMT). The Atlas Lions have not...
(AFP (eng) 01/21/17)
Reigning champions the Ivory Coast will need to beat the Morocco of their former coach Herve Renard to qualify for the Africa Cup of Nations quarter-finals after a second draw in as many games on Friday. The Ivorians had to come from behind twice to draw 2-2 with DR Congo in Oyem in the day's early game with Wilfried Bony and Geoffrey Serey Die getting their goals. Later, Renard's Morocco came from behind to defeat Togo 3-1 at the same...
(AFP (eng) 01/20/17)
Defending champions the Ivory Coast had to come from behind twice to draw 2-2 with the Democratic Republic of Congo Friday in a lively Africa Cup of Nations clash. The result in northern Gabonese town Oyem kept the Congolese top of Group C with four points from two matches followed by the Ivorians with two. Togo have one point and Morocco, their opponents later Friday in the second match of a double-header, are pointless. Neeskens Kebano and Junior Kabananga scored...
(AFP (eng) 01/18/17)
Manchester City midfielder Yaya Toure has rejected offers from Chinese Super League clubs that would have paid the Ivorian around £430,000 a week ($533,000), reports said on Tuesday. Toure is out of contract at the end of the season and has been approached by clubs from China who have been splashing on a host of star signings in recent months. The 33-year-old is said to have been the subject of interest from China last year. He snubbed those offers and...

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(Xinhuanet 04/18/17)
Africa's diaspora is playing a big role in the economic transformation of the continent, the UN said on Tuesday. UN Population Fund (UNFPA) Regional Director Dr Julitta Onabanjo told Xinhua in Nairobi that remittances are important source of income for many African families. "The diaspora therefore complements government efforts to lift many families out of poverty," Onabanjo said on the sidelines of the First Africa-China Conference on Population and Development. Onabanjo said that Africans in the diaspora also bring back to the continent, the valuable skills and knowledge that they have acquired in the developed world. "This pool of skilled labour can help the continent address challenges that hinder social economic development," she added. The...
(AFP (eng) 03/02/17)
A film raging against colonialism and the exploitation of Africa wowed viewers at the continent's top cinema festival Wednesday, winning shouts of approval at a screening packed to bursting point. "The African Storm" tells the story of an African president who nationalises businesses run by racist, cynical Western executives. Directed and produced by its Beninese star Sylvestre Amoussou, it tackles several hot-button issues including an exit from the CFA franc currency, closer ties with Russia and China as opposed to the West, criticism of the International Monetary Fund and World Bank, and pride in being African. One of 20 feature-length movies on show at the Panafrican Film and Television Festival (Fespaco) in Burkina Faso's capital Ouagadougou, the movie was punctuated...
(AFP (eng) 02/27/17)
An African road movie about four women wowed its audience Sunday as it kicked off the Panafrican cinema and television festival (Fespaco), a showcase for the continent's burgeoning film industry. "Borders" ("Frontieres") directed by Apolline Traore, a Fespaco laureate in 2013, sweeps across Africa as its protagonists journey through Senegal, Mali, Burkina Faso and Benin on their way to Nigeria. Along the way the women -- Ivorian, Senegalese, Burkinabe and Nigerian actresses -- are spared nothing as they are beset...
(AFP (eng) 01/04/17)
As many African women spend much of their spare time in hair salons, Ivory Coast's chief librarian, also a woman, came up with a brainwave scheme to help them read and learn to read. Crammed on shelves between hair extensions, untangling creams and straightening lotions, a total 23 hair salons now offer customers a range of books on loan from the National Library. "Libraries are practically non-existent in our suburbs and the ones that do exist get very few visitors,...
(AFP (eng) 12/15/16)
Four privately owned TV channels have been authorised to operate in Ivory Coast, a major step in opening up the country's audiovisual sector after half a century of state monopoly, it was announced Thursday. The High Authority for Audiovisual Communication (HACA), in charge of the liberalisation programme, said in a statement the four had been selected at the end of a bidding process launched in late May. The four were named as Life TV, Optimum Media Cote d'Ivoire, Societe Audiovisuelle...
(AFP (eng) 12/09/16)
Journalists from Cameroon and Ivory Coast on Thursday won Africa's top fact-checking awards for investigating government claims that turned out to be false. Manfei Anderson Diedri, of the website Eburnietoday.com, scooped the francophone award for an eight-month investigation into a land dispute in central Ivory Coast. Diedri uncovered that while Abidjan claimed it had ownership of 11,000 hectares of land granted to a Belgian company for industrial rubber plantations -- which villagers claimed was their property -- there was no...
(AFP (eng) 11/15/16)
"Some people said I'd wasted my life, that I should be a doctor, do something else," recalls Aboudia, an Ivorian painter with international fame and a big show this month in Abidjan. Aboudia grew up as Abdoulaye Diarrasouba, a youth who still readily speaks Nouchi, the street dialect of working-class districts in Ivory Coast's economic capital. Though today he often abandons his easel in the city for cramped aircraft seatback tables and art galleries in Paris, London and New York, Aboudia remains close to his roots and his current exhibition hosted by the Fakhoury Foundation is called "Mogo Dynasty".
(AFP (eng) 10/21/16)
Demand for homegrown contemporary music is sweeping Africa and driving a creative boom in an industry otherwise battered by falling CD sales and rampant piracy. A recent study of the entertainment sector by PricewaterhouseCoopers (PwC) accountants showed rapid earnings growth in many African countries, fuelled largely by live performances by local artists. "Consumers are increasingly wanting local content," Vicki Myburgh, a PwC director who conducted the study released last month, told AFP. "The Nigerian music market... will (soon) grow at...
(AFP (eng) 10/11/16)
Raised on the backstabbing intrigue of 1980s American soaps "Dallas" and "Dynasty", and later, the heady drama of South American telenovelas, Africans are enjoying a surge in local TV content they can finally identify with. It took a while, but in the past decade local programming has soared in sub-Saharan Africa's key economies, a rise driven by both foreign satellite networks and television stations on the continent. This growth has delivered up local shows such as Kenya's comedic "Real Househelps...
(AFP (eng) 09/23/16)
A century after the project was conceived in the throes of racial segregation, and a few months before the first black US president leaves office, the African American Museum in Washington opens Saturday. Here are key facts about the first national museum devoted entirely to showcasing African Americans' life, history and culture. - 1915: A project 101 years old The effort to open, in the US capital, a museum dedicated to the history of the black community "began more than...
(The East African 09/10/16)
The Pan African Federation of Filmmakers (FEPACI) is seeking to raise $200 million from partners over the next two years to fund the continent's audiovisual and cinema sector. The funds will be used to establish centres of excellence in the five regions - East Africa, North Africa, Central Africa, Southern Africa, and West Africa -- and the locations will be decided by the African Council of Ministers of Culture. The money will be used to improve the quality and quantity...
(Voice of America 07/04/16)
To the beat of African drums, a few dozen people gathered at Dallas City Hall Friday to officially kick off the three-day African Film Festival. The event showcases films made by Africans, as well as a few made by non-Africans about issues important to different regions of the continent. City officials hailed the new festival as an expression of the increasing ethnic and cultural diversity in Texas’ second-largest city. Regina Hill Onyeibe, the Africa Liaison for the City of Dallas...
(Reuters (Eng) 06/28/16)
Africa's largest provider of pay-television services Naspers (NPNJn.J) has kept prices on the continent unchanged to halt a decline in subscriber numbers, its chief executive said on Monday. Naspers, the biggest listed firm on the continent, which sells access to popular American series and blockbuster movies in 50 countries in Africa and the Indian Ocean via its Multichoice unit, reported an 18 percent rise in full-year profit on Friday, but flagged pay-TV as a drag on its performance. Weaker currencies...
(Fraternité Matin 06/27/16)
En déclinant ses émissions de vacances, le groupe de médias de service public a fait des annonces de taille. La saison estivale 2016 de la Radiodiffusion télévision ivoirienne (Rti) s’annonce plus que chargée au niveau des émissions grand-public, avec comme fait majeur, le retour du mythique concours d’orchestres, Podium. Avec, toutefois, un bémol, car elle ne sera diffusée qu’à partir d’octobre, donc à la rentrée. En attendant d’en savoir plus sur la forme et la programmation qui n’a pas été...
(APA 06/10/16)
Une campagne de lutte contre la violence sur les enfants sur le continent africain dénommé « End violences against Children in Africa » a été lancée, jeudi, à Abidjan par la presse ivoirienne à travers le réseau des acteurs des medias pour les droits des enfants (RAMEDE-CI). « Les violences faites aux enfants font partie des maux auxquels nous devons apporter des éléments de réponses appropriés », a relevé Mamadou Doumbia, le président du Conseil d’administration du RAMEDE-CI. Selon lui,...
(L'Intelligent d'Abidjan 06/01/16)
Korédé Odjo-Bella, directrice de Vibe Radio a animé un petit-déjeuner de presse le vendredi 27 mai 2016. Objectif de cette rencontre, donner les challenges de la radio et expliquer la campagne publicitaire en cours. La radio a démarré une campagne de communication depuis le 27 avril 2016. « Ce sont plus de 200 spots de 30 et 20 secondes qui sont diffusés sur les chaînes de télévision nationales et internationales et sur Fréquence 2 », a expliqué Korédé Odjo-Bella. Selon...
(AFP (eng) 05/14/16)
On a choice spot overlooking Washington's most stately monuments, a new museum swathed in bronze will showcase the tragedy and triumph of black America. The National Museum of African American History and Culture, 100 years in the making and now almost ready, will fill a gaping void: until now the city had no grand-scale museum dedicated solely to this chapter of US history. Slave cabins, a blacks-only train car from the segregation era and exhibits on the Reverend Martin Luther...
(AFP (eng) 05/03/16)
The drummer for popular Ivory Coast music group Magic System has drowned in an accident at a seaside resort in the country, the band announced Tuesday. A family member said Didier Bonaventure Deigna died "trying to save a person from drowning". Magic System said in a statement it "announces with regret and deep sorrow the death of its drummer and conductor Didier Bonaventure Deigna, known as Pepito, last Sunday May 1 by drowning in Jacqueville," in southern Ivory Coast, aged...
(BBC News Africa 05/03/16)
The drummer of Ivory Coast's famous Magic System band has drowned at the age of 46, the group has said in a Facebook post. Didier Deigna, known by the stage name Pepito, drowned at a beach in the small town of Jacqueville in southern Ivory Coast on Sunday, it said. Magic System are particularly popular in French-speaking West Africa and in France. Reports say Pepito died while trying to save another person who was drowning. "For the last 16 years,...
(APA 04/26/16)
Les journaux quotidiens ivoiriens parus, mardi, sur toute l’étendue du territoire, commentent la cherté de la vie et annoncent le décès de Parfait Gohourou, haut cadre de l’administration territoriale ivoirienne. Cherté de la vie, augmentation des factures d'eau et d'électricité : ‘'c'est un problème qui va être réglé'', rassure le ministre du commerce Jean-Louis Billon, selon Fraternité Matin. M. Billon, ajoute le confrère, a expliqué que ‘'les pouvoirs publics ont pleine conscience des difficultés qu'éprouvent les Ivoiriens''. En dépit l'assurance...

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(Bloomberg 05/24/17)
Three ex-rebels in Ivory Coast were killed Tuesday when police broke up a road blockade to end a protest by the former fighters over bonus payments. As many as 19 people, including five police personnel and gendarmes, were injured in the fighting in Bouake, the second-biggest city, Interior and Security Minister Hamed Bakayoko said in an emailed statement. The assault came after the protesters rejected talks to end their blockade of the southern access road to the town, Bakayoko said. The three people died when protesters “pulled the pin out of an offensive grenade which exploded,” he said in the statement.
(Bloomberg 05/18/17)
Steinhoff International Holdings NV plans to list its African assets separately as the acquisitive retailer seeks a new prize for shareholders following this year’s failed merger talks with Shoprite Holdings Ltd. The company said Wednesday it will seek to list businesses including clothing retailer Pepkor and furniture chain JD Group Ltd. on the Johannesburg Stock Exchange, about 18 months after moving its primary listing to Frankfurt from the South African commercial hub. The new business could be worth as much as 60 billion rand ($4.5 billion), said Evan Walker, a money manager at 36one Asset Management in Johannesburg, although the valuation could also be as low as 40 billion rand depending on how much debt Steinhoff puts into the vehicle...
(Bloomberg 05/17/17)
Soldiers in Ivory Coast said they halted their protest after the government agreed to pay them bonuses, ending a four-day mutiny that paralyzed several cities and left two people dead. The government will pay each soldier 5 million CFA francs ($8,374) before the end of the week and another 2 million francs at a later date, soldier Tahirou Diarrrassouba said by phone on Tuesday from the second-biggest city and center of the mutiny, Bouake. Troops in other cities that joined...
(Bloomberg 05/16/17)
Cocoa rose, extending last week’s surge in prices, following a failure of talks between army commanders and mutinous soldiers over the weekend in Ivory Coast, the world’s biggest producer. The beans jumped as much as 4.4 percent in London and also gained in New York trading after Ivory Coast’s military was said to have given soldiers an ultimatum on Sunday to drop their pay demands and end a revolt. Special forces will take action against the soldiers should the talks...
(Bloomberg 05/16/17)
Ivory Coast’s government announced it reached an agreement with soldiers to end a four-day mutiny over pay that disrupted cities across the nation, even though some troops said they were unaware of a deal and would continue with their revolt. Military staff and rebel soldiers made a pact after two days of talks, Defense Minister Alain Donwahi said Monday in a broadcast on state television, RTI, without elaborating on details of the agreement. “We call on all soldiers to free...
(Bloomberg 05/15/17)
Gunfire erupted at a key military camp in Ivory Coast’s commercial capital, Abidjan, and its second-biggest city of Bouake as a rebellion over unpaid bonuses entered a fourth day. The West African nation, which wants to issue a Eurobond next month, saw yields on its existing securities jump. Several explosions and sporadic shooting rocked Bouake, a transit hub that links Ivory Coast to its landlocked northern neighbors, from about 2:00 a.m., resident Siriki Koné said by phone Monday. In Abidjan,...
(Fox News 05/10/17)
After five years of no major attacks on merchant vessels, piracy around the Horn of Africa seemed to be on hiatus. Acts of piracy in those treacherous waters have fallen sharply since 2012, according to statistics released by the United States Navy. The Navy credits aggressive patrolling by international forces and increased vigilance by the commercial shipping industry for the decrease. However, in the past month, Somali pirates have intercepted five ships, raising concerns that piracy has returned to the...
(Voice of America 05/05/17)
As Africa grapples with a severe drought, and famine threatens millions of people, experts at the World Economic Forum on Africa this week in the South African city of Durban say food security needs to be a major part of discussions on advancing the continent economically. The annual World Economic Forum in Switzerland is usually a high-powered event, but at this week’s Africa meeting of the international organization, the continent’s big players are welcoming the humble farmer, now known as...
(Voice of America 05/03/17)
African military expenditures have finally slowed down after more than a decade of steady increases, according to a new report on global defense spending. The main reason, the report found, is a drop in oil prices. “The sharp decreases in oil prices has affected quite a number of African countries, namely South Sudan and Angola. This has kind of driven almost the entire regional trend,” said Nan Tian, a researcher at the Stockholm International Peace Research Institute’s (SIPRI) Arms and...
(Bloomberg 05/02/17)
Saudi Aramco is seeking to boost its fuel-trading volume by more than a third as the world’s biggest crude exporter expands its capacity to refine oil to grab a bigger share of growing markets in Asia and Africa. Aramco, as Saudi Arabian Oil Co. is known, is building refineries in the kingdom and in Asia to help it increase sales and purchases of gasoline, diesel and other products to more than 2 million barrels a day, said Ibrahim Al-Buainain, chief...
(Voice of America 04/28/17)
A low-cost and widely available drug could save the lives of 1 in 3 mothers who would otherwise bleed to death after childbirth, according to a new study. Severe bleeding, known as postpartum hemorrhage, or PPH, is the leading cause of maternal death worldwide, killing more than 100,000 women every year. Even for mothers who survive, it is a painful and traumatic experience. The world's poorest countries, especially in Africa and India, are the worst hit. Drug from 1960s But...
(Bloomberg 04/27/17)
Ivory Coast plans to sell at least $1 billion in Eurobonds by the end of July to raise funds for infrastructure projects, the country’s first issuance of international debt since 2015, according to two people with knowledge of the plans. The government is negotiating to sell bonds with 10-year maturity and the sale will probably happen in June or July, according to the people, who asked not to be identified because a public announcement hasn’t been made. The West African...
(Bloomberg 04/20/17)
WorldRemit Ltd., a British money-transfer operator, sees revenue from transactions involving Africans doubling by 2020 as more people on the continent access mobile-payment platforms and expatriates send cash home. The seven-year-old company, in which Facebook Inc.-backer Accel Partners LP invested $40 million in 2014, will this year open a regional office in South Africa, its largest market on the continent in terms of money-transfer value, founder and Chief Executive Officer Ismail Ahmed said in an interview. Another site will start...
(Voice of America 04/17/17)
The Italian coast guard says it has rescued nearly 6,000 migrants on the Mediterranean since Friday, underscoring the continued flow of people along this dangerous route. A group of Africans living in Europe visited Cameroon this week to launch a campaign against illegal migration. The group is called “No More Death in the Desert or on the Sea.” Its mission is simple: to educate youth in Africa about the harsh realities of illegal migration. "We want to tell them that...
(Bloomberg 04/07/17)
Heineken NV’s latest quest to seize a greater share of emerging markets has the brewer on a collision course with Groupe Castel in one of Africa’s fastest-growing economies. Officially opened on Wednesday, the Brassivoire brewery is the product of a joint venture with CFAO SA and cost 150 million euros ($160 million) to build. Located 24 kilometers (15 miles) north of the commercial capital, Abidjan, the facility is already producing Ivoire lager, a brand the world’s second-largest brewer is using...
(Voice of America 04/05/17)
A Red Cross report says African countries are failing their internally displaced people. Reversing that trend was the subject of a high level meeting of the International Red Cross and the African Union that wrapped up Tuesday in Zimbabwe. Africa has about 13 million internally displaced people, a third of the global number of IDPs, and more than double the amount of refugees on the continent. By definition, refugees flee across a national border, while IDPs leave their homes but...
(Bloomberg 04/04/17)
Ivory Coast’s biggest online retailer will enable consumers to buy goods from international markets for the first time next month as it seeks to tap a shopping boom in one of sub-Saharan Africa’s fastest-growing economies. Jumia, an internet platform whose investors include Berlin-based Rocket Internet SE and Goldman Sachs Group Inc., is expanding its Ivory Coast operation by adding imports from Asia and Europe, managing director for the country, Francis Dufay, said in an interview in the commercial capital, Abidjan...
(Bloomberg 04/04/17)
The scores of giant potholes that scar the roads from commercial capital Abidjan to Daloa in the heart of Ivory Coast’s cocoa belt have become deep, muddy puddles, filled by heavy tropical showers. While drivers making the tortuous journey from the Atlantic coast into the hot interior have reason to curse the wet weather, for farmers in the world’s largest cocoa producer the rains mean the prospect of another record crop. "We’ve got beneficial rains this season," said Abdoulaye Baro,...
(Financial Times 04/04/17)
Countries should develop policies to attract labour-intensive production leaving China. China’s initial wave of investments in Africa focused on natural resource extraction. Their demand for metals and energy was so large that it actually boosted global commodity prices overall, which in turn accelerated growth across the African continent. These times of China propping up global commodity prices are now over, as it has built up excess capacity in many sectors and now faces slow investment growth. This lower demand has...
(Bloomberg 04/03/17)
Ivory Coast’s cocoa regulator pointed to speculators and prospects for a glut as the reason for a slump in futures that forced the nation to cut the price it pays farmers. There was something it didn’t blame: Itself. Le Conseil du Cafe-Cacao also said a volatile pound and defaults by local exporters contributed to a plunge in international futures. But there’s frustration that the CCC’s slow response to the crisis gave speculators more reason to short prices, on expectations that...

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