| Africatime
Thursday 23 March 2017
(Bloomberg 03/23/17)
Ivory Coast’s cocoa regulator is facing losses of more than 200 billion CFA francs ($327 million) after local exporters defaulted on their contracts because they wrongly speculated that prices would rise, according to a person familiar with the matter. Le Conseil du Cafe-Cacao, the industry regulator in the world’s biggest cocoa producer, is seeking compensation from exporters who couldn’t fulfill their commercial agreements, said the person, who asked not to be identified because the information is confidential. Companies and cooperatives that are in default aren’t allowed to take part in auctions for the season that will start in October unless they make payment arrangements, said the person. The government will discuss the losses on cocoa...
(Voice of America 03/23/17)
Doctors at a Chicago-area hospital have successfully operated on a baby from Africa born with a parasitic twin and having four legs and two spines.The girl, known only as "Dominique" from Ivory Coast, is recovering well from the delicate and groundbreaking March 8 surgery and is expected to live a normal, fully-functional life. Advocate Children’s Hospital in Park Ridge, Illinois, Tuesday announced that the 10-month-old, being cared for by a local foster family, underwent six hours of surgery involving dozens of healthcare providers and five surgeons, including pediatric specialist Dr. John Ruge. "This is a situation where identical twins failed to separate. And, they can be connected in a variety of different manners," said Dr. Ruge. Baby Dominique was born...
(Bloomberg 03/23/17)
Slumping cocoa prices are testing to the limit top producer Ivory Coast’s efforts to ensure stability for farmers, heightening risks for the domestic economy and world markets. Authorities have warned they’ll have to cut payments to growers. That follows a wave of defaults by local exporters who’d bet on higher prices, costing the government more than $300 million and pushing cocoa futures even lower. The more than 30 percent drop in London benchmark prices from a six-year high in July...
(APA 03/23/17)
The Board of Directors of the West African Development Bank (BOAD), has approved new financings estimated at nearly CFA138 billion, a statement from the financial institution seen by APA on Thursday suggests. The board made the decision during its 104th regular session in Dakar, Senegal on Wednesday. "After approving the report of its 103rd meeting held in Bamako, Mali on 14 December 2016, the Board approved BOAD's accounts for the year ended December 31, 2016, submitted for the approval of...
(Reuters (Eng) 03/23/17)
N'DJAMENA French far-right presidential candidate Marine Le Pen pledged on Wednesday to break with her country's decades-old relationship with Africa known as "Francafrique" and abolish the CFA franc currency policy that binds Paris and its former colonies. Francafrique describes an informal web of relationships Paris has maintained with its former African colonies and its support, sometimes in the form of military backing, for politicians who favor French business interests. Le Pen, one of the frontrunners in the presidential election, spoke...
(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) 03/21/17)
Under a cloudless sky in South Africa's northwestern farming region, donkeys still amble along muddy paths, pausing to nibble on grass, oblivious to the threat from a demand for Chinese medicine. The gelatin found in the animals' skin has made them a target, leading to a growing wave of donkey slaughtering in several African countries, as gangs seek to fuel a lucrative, and in South Africa illegal, trade. Animal rights groups say the docile beasts of burden are often cruelly...
(Agence Ecofin 03/20/17)
At the Africa CEO Forum which opened this morning in Geneva, AFD Group – in partnership with the European Union – unveiled the “African Renewable Energy Scale-Up facility”, designed to boost private sector investment in on–grid and off-grid renewable energy production in Africa. In order to meet Africa’s constantly increasing energy requirements, support must be provided for mass development of the renewable energy technologies – especially solar energy – that will play such a key role over the coming years,...
(Voice of America 03/18/17)
Each year, the University of Southern California hosts the African Global Economic and Development Summit, bringing delegations from Africa to meet with business leaders, government officials and others in the U.S. But this year, the African summit has no Africans. All were denied visas. Visa issues are not uncommon for people traveling from African nations. During her prior three summits, Mary Flowers saw a high percentage of her attendees unable to attain visas. "Usually we get 40 percent that get...
(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) 03/17/17)
Major chocolate makers, including Ferrero, Nestle and Mars, agreed Thursday a landmark initiative to tackle deforestation in top cocoa producers Ivory Coast and Ghana -- a move hailed by Prince Charles. Twelve cocoa and chocolate companies agreed to "a statement of collective intent" committing them to work to end deforestation and forest degradation in the global cocoa supply chain, with an initial focus on the two west African nations, the industry announced following a London meeting hosted by the British heir to the throne. "The agreement... commits the participating companies to develop and present a joint public-private framework of action to address deforestation" at UN climate talks in November, said a joint
(Voice of America 03/17/17)
One of the enduring legacies of the Barack Obama presidency will be the relationship built between the United States and young Africans. As part of Obama’s Young African Leaders Initiative (YALI), each year 1,000 young people from sub-Saharan Africa travel to the United States to spend six weeks at a U.S. college or university. The program will continue this summer. But building enduring relationships is a two-way street, and many in Africa want to see Americans coming to their continent...
(Xinhuanet 03/16/17)
Morocco and Cote d'Ivoire have called for sustainable and inclusive political solutions for crises facing Africa, a final statement issued following Morocco's King Mohammed visit to Cote d'Ivoire said. The King and Ivorian President Alassane Ouattara reiterated their will to see a more united and solidarity-based Africa, capable of fighting efficiently and victoriously against the new forms of criminality, namely terrorism, cybercrimes, sea piracy and drug trafficking, according to the statement carried by the official MAP news agency on Wednesday...
(Xinhuanet 03/16/17)
China's aid to the education sector in Africa is helping boost teacher training, a key component in skilling the population to fast track development, a UN official has said. Ann Therese Ndong-Jatta, Director of United Nations Educational, Scientific and Cultural Organization (UNESCO) Regional Office for Eastern Africa, in an interview recognized China's contribution to Africa's education sector over the years. "We value the initiative in teacher training in Uganda and other countries in Africa. This will revitalize the teaching profession,"...
(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...
(The Wall Street Journal 03/15/17)
Ndalo Media founder Khanyi Dhlomo and Mara Group founder Ashish Thakkar on where the potential is and what’s blocking it How is innovation in Africa different from innovation in Silicon Valley? And how can innovation in Africa be encouraged? Dan Keeler, frontier-markets editor of The Wall Street Journal, discussed those questions with Khanyi Dhlomo, founder and chief executive of Ndalo Media, a publisher based in South Africa, and Ashish Thakkar, founder of Mara Group, a pan-African investment group with operations...
(AFP (eng) 03/14/17)
A year after a jihadist attack bloodied the sands of Ivory Coast's popular beach resort Grand-Bassam, killing 19 people, national leaders and locals marked a solemn anniversary Monday vowing to stand firm against the threat of terrorism. Hundreds of mourners wearing white joined in the day of remembrance to honour the victims of the assault, which was claimed by Al-Qaeda in the Islamic Maghreb, marking the first attack of its kind in the west African state. Their silent march led...
(Agence Ecofin 03/14/17)
The Land Policy Initiative (LPI), a joint programme of the tripartite consortium consisting of the African Union Commission (AUC), the African Development Bank (AfDB) and the United Nations Economic Commission for Africa (ECA) has launched a pilot project to track progress in implementing in the AU Declaration on land issues in Africa. This was revealed by the ECA in a press statement dated March 7. In collaboration with the International Food Policy Research Institute (IFPRI), the project will assess progress...
(Bloomberg 03/13/17)
Tumbling cocoa prices and unscheduled payments to civil servants and mutinous soldiers in the past two months could widen Ivory Coast’s budget deficit and curb growth this year. Cocoa prices have fallen by more than a third after reaching a six-year high in July, denting revenue for the world’s biggest producer of the chocolate ingredient. This year the West African country’s government has tried to defuse military and social unrest by agreeing to pay bonuses to soldiers and making some...
(Reuters (Eng) 03/13/17)
The United Arab Emirates, one of the Middle East's largest economies, wants to expand trade ties with faster growing nations in Asia and Africa, a senior official said on Sunday. Rich Gulf Arab states are looking at ways to diversify their economies, including who they trade with, after more than two years of depressed oil prices forced a rethink of government spending. The pace of economic growth in Asian and sub-Saharan African economies has made them ideal partners, Abdullah al-Saleh,...

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