Saturday 21 October 2017
(Myjoyonline 08/25/17)
Ghana is now exporting electricity to her West African neighbours, La Cote d’Ivoire after just seven months of the Nana Akufo-Addo-led administration, Minister of Information, Mr Mustapha Abdul-Hamid, has disclosed. He said the government had managed to stabilise the power supply situation after the country went through about four years of power crisis, which crippled many businesses. “Without power, there is no way the industries can operate because power is what powers industries. “The power situation is very stable in our country, we use to import power from Cote d’Ivoire to supplement what we produced in Ghana, today we’re exporting power back to Cote d’Ivoire again just seven months in government,” he stated. He said the government had good intentions,...
(Graphic Online 08/24/17)
Ghana is now exporting electricity to her West African neighbours, La Cote d’Ivoire just after seven months of Nana Addo Dankwa Akufo-Addo led government came into office, Mr Mustapha Abdul-Hamid, the Minister of Information, has disclosed. He said the government had managed to stabilise the power supply situation after the country went through about four years of power crisis, which crippled many businesses. “Without power there is no way the industries can operate because power is what powers industries. “The power situation is very stable in our country, we use to import power from Cote d’Ivoire to supplement what we produced in Ghana, today we’re exporting power back to Cote d’Ivoire again just seven months in government,” he stated. He...
(Bloomberg 08/24/17)
Every African nation that’s sold dollar debt now has at least one junk rating, but it would be hard to tell by looking at the bond market. The average yield on sovereign Eurobonds in Africa has hovered near the lowest level in two years this month, according to a Standard Bank Group Ltd. index, even after Moody’s Investors Service cut Namibia to below investment grade on Aug. 11. The world’s biggest producer of marine diamonds had been the continent’s only dollar-bond issuer without a junk rating. A low interest rate environment in the developed world has encouraged investors to look past the problems plaguing African economies, including low commodity prices, dollar shortages in some of them and rising political tension...
(Xinhuanet 08/23/17)
China is dedicated to enhancing its cooperation with Africa in human resource development through knowledge and technology transfer, a Chinese diplomat said Tuesday. Liu Tao, Charge d'Affaires of the Chinese Embassy in Ethiopia, made the remarks at the Chinese Government Training Program Fellowship Reception in Ethiopia's capital Addis Ababa. He said China, since the year 2000, has sent over 2,000 agricultural experts and over 7,000 medical personnel to Africa, and has trained more than 80,000 Africans from more than 50 countries. China has pledged that it would, in three years, train 200,000 technicians and provide 40,000 training opportunities in China, and will offer 30,000 government scholarships, he said. Stating that 1,100 Ethiopian candidates are invited this year to attend short-term...
(Bloomberg 08/22/17)
China’s Sinohydro Corp. may build three additional hydroelectric plants in Ivory Coast after completing what will be the nation’s biggest dam by October, according to a government official. The combined capacity of the three plants may be as much as 500 megawatts, adding to the 275 megawatts that will be supplied by the Soubre dam once it’s completed, said Brahima Dosso, the director of the Soubre project at CI-Energies, a state-owned company that oversees investments in the energy sector. The $592 million Soubre dam on the Sassandra river, in the western region, is one of the flagship projects of President Alassane Ouattara, who has vowed to boost the country’s energy supply, already the most reliable in West Africa, to maintain...
(Xinhuanet 08/22/17)
African officials on Monday called for urgent infrastructural development and regional integration to boost the continent's economy. At the Infrastructure Africa 2017 in Johannesburg, Zambian Minister of Finance Felix Mutati encouraged Africans to speedily address infrastructural deficit. "We have to inject some sense of urgency in ourselves. If we remain captured by business as usual, we are headed for disaster," said Mutati at the opening ceremony of the two-day event. "Competitiveness in Africa is being constrained by infrastructure deficit. We need about 93 billion U.S. dollars every year to address the infrastructure gap in the continent. We need to urgently implement projects," he said. Mutati said Africa has to narrow focus to innovative financing and design, better use of existing...
(Bloomberg 08/21/17)
GreenWish Partners, a renewable energy company run by a former Morgan Stanley executive, is planning to invest $800 million on solar-powered telecommunications towers across Africa. The project could fuel economic growth by providing power for essential services. Sub-Saharan Africa has the lowest rates of energy access in the world and is home to about half of the world’s 1.2 billion people without reliable electricity, according to the International Energy Agency. The problem extends to businesses as well as households, cutting into productivity and growth. “We reduce the total cost of power by 30 percent,” said Charlotte Aubin-Kalaidjian, the founder and chief executive officer of GreenWish, who was formerly a managing director at Morgan Stanley Investment Management. “Smaller towers can run...
(Agence Ecofin 08/18/17)
In Ivory Coast, volume of cocoa transported to the ports of Abidjan and San Pedro for the ongoing 2016-17 season stood at 1,925,000 tons at August 13, up more than 33% as compared to last year’s figures (1,444,000 tons). According to Reuters who reported the estimates, 11,000 tons of cocoa were brought to the ports last week. That is close to thrice more than the year before (4,000 tons). The increase in the volumes sustains a trend started some months ago and confirms good outlook for sales, subsequent to the removal of the 5% registration tax usually imposed to exporters upon loading. Let it be recalled that for this season, Cote d’Ivoire is expected to produce around 1.98 million tons of cocoa. Espoir Olodo
(APA 08/17/17)
The Ivorian government has donated to Sierra Leone tones of medicines hours after preside Ernest Bai Koroma launched a call for international aid following Monday’s mudslide in Freetown that has so far claimed over 400 people. “By way of material support, President Alassane Ouattara has kindly offered them a tonne and a half drugs,” Ivorian Economy and Finance Minister, Adama Kone, who was leading an Ivorian delegation to Sierra Leone said on Wednesday. “It is a humanitarian gesture, an act of solidarity and support for a brotherly affected people,” the Ivorian government emissary said, adding that “Cote d’Ivoire is willing to offer its technical expertise to Sierra Leone to address this situation.” On Monday, the Ivorian leader had already expressed,...
(Bloomberg 08/14/17)
The U.S. will probably maintain its current levels of aid to Africa despite President Donald Trump’s proposals to slash funding, according to Bill Gates, the world’s richest man. Trump said in May his government would no longer allocate funding for family planning, a move that has the potential to undermine aid programs in the poorest countries in the world. However, with Congress in control of the budget, it’s unlikely that all cuts proposed by the Trump administration will go ahead next year, Gates said in an interview in Dar es Salaam, Tanzania’s commercial capital. “It’s quite clear that they won’t make those drastic cuts,” Gates said. “I’m hopeful they won’t make any cuts at all, but that’s still subject to...
(Reuters (Eng) 08/10/17)
Twenty people escaped custody after assaulting police officers at the courthouse in Ivory Coast's main city Abidjan, justice official said on Wednesday, the latest in a series of attacks on police in the West African country. Ten prisoners and another ten people who had been summoned to court escaped on Tuesday and were still at large 24 hours later, a justice official told Reuters. He not say who the escapees were nor why they had been in custody. A series of military mutinies this year has threatened to derail a fragile peace in Ivory Coast, the world's leading cocoa producer, which emerged from a decade of turmoil and a 2011 civil war as one of the world's fastest growing economies...
(Reuters (Eng) 08/10/17)
A British explorer for mineral resources in Africa will on Thursday become the first venture of its kind to be listed on London's AIM market for growing companies, its CEO said. Following the recovery of the mining sector from a commodity price crash in 2015-16, a handful of new companies have listed. But smaller exploration companies known as project generators, which find assets but sell them on or agree joint ventures to develop them, have generally preferred the Canadian or Australian exchanges. "We will be the only listed project-generator business that has a focus on Africa," Steven Poulton, chief executive of Altus Strategies, told Reuters. Poulton had told Reuters in May he planned to list the company's shares. The aim...
(AFP (eng) 08/10/17)
The skull of an infant ape buried by a volcano 13 million years ago has preserved intriguing clues about the ancestor humans shared with apes -- including a likely African origin, scientists said Wednesday. A previously-unknown creature that shared an extended family with the human forefather, had a flat face like that of our far-flung cousin the gibbon, but did not move like one, its discoverers wrote in the journal Nature. They named it Nyanzapithecus alesi after "ales" -- the word for "ancestor" in the Turkana language of Kenya, where the lemon-sized skull was unearthed. The sole specimen is that of an infant that would have grown to weigh about 11 kilogrammes (24 pounds) in adulthood. It had a brain...
(Reuters (Eng) 08/09/17)
Twenty people escaped custody after assaulting police officers at the courthouse in Ivory Coast's main city Abidjan, justice official said on Wednesday, the latest in a series of attacks on police in the West African country. Ten prisoners and another ten people who had been summoned to court escaped on Tuesday and were still at large 24 hours later, a justice official told Reuters. He not say who the escapees were nor why they had been in custody. A series of military mutinies this year has threatened to derail a fragile peace in Ivory Coast, the world's leading cocoa producer, which emerged from a decade of turmoil and a 2011 civil war as one of the world's fastest growing economies...
(Xinhuanet 08/09/17)
The United States Trade Representative (USTR) on Wednesday affirmed the commitment of his country to Africa and saw "great potential to grow and deepen trade relationship." Robert E. Lighthizer expressed this in opening speech of the ministerial plenary as part of the 16th Forum of the Africa Growth and Opportunity Act (AGOA), on Wednesday here in Togolese capital Lome. "The United States is committed to Africa. We see great potential to grow and deepen our trade relationship, with the goal of establishing a true partnership for the future", Lighthizer said. "By lowering barriers and tackling other constraints that impede trade and investment, we are poised to see U.S.-Africa trade flourish", he said, underscoring that "much more work needs to be...
(Reuters (Eng) 08/08/17)
Tuesday's action at the World Athletics Championships sees two of the most intriguing races of the program as South Africa's Wayde van Niekerk bids for the first half of his 400/200 meters double and Nigel Amos goes for gold in the men's 800m. World record holder and defending champion Van Niekerk should be unbeatable in the 400m but faces a stiff challenge, not least from Botswanan duo Isaac Makwala and Thebe Baboloki. Another Botswanan, Amos, will also have to be at his best in the 800m, where a clutch of athletes are suddenly dreaming of glory in the absence of Kenya's injured champion David Rudisha. Kenya is expected to continue its dominance of the men's 3,000m steeplechase - though American...
(Xinhuanet 08/03/17)
Trade between China and Africa reached 85.3 billion U.S. dollars in H1, surging 19 percent year on year as the two sides strengthened cooperation in a wide range of areas, official data showed Thursday. The data reversed the negative growth trend since 2015, according to Gao Feng, spokesperson with the Ministry of Commerce. During January-June, Chinese imports from Africa, including minerals, agricultural products and fruits, amounted to 38.4 billion U.S. dollars, jumping 46 percent from the same period last year, while exports gained 3 percent to 47 billion U.S. dollars. Transport equipment has become a bright spot in China's exports to African countries, with that of ships, trains and aerospace equipment up 200 percent, 161 percent and 252 percent respectively,...
(AFP (eng) 08/02/17)
Anthrax, a bacterial disease commonly associated with arid climes, has quietly been decimating chimpanzees in a tropical West African forest, and may wipe them out altogether, researchers said Wednesday. Samples taken from carcasses, bones, and carrion-eating flies in the Ivory Coast's Tai National Park (TNP) from 1989 to 2014, revealed that anthrax had caused 38 percent of animal deaths -- including 31 out of 55 dead chimps tested. Other casualties included monkeys, duikers, mongooses and a porcupine. "Our simulations... suggest that anthrax-induced mortality will result in deterministic population declines and possible extirpation of TNP chimpanzees over the next 150 years," a team wrote in the journal Nature. Chimpanzees are particularly vulnerable due to their slow reproduction rate, said the team...
(Reuters (Eng) 08/02/17)
Ivory Coast's prime minister has decided to sack the head of the Coffee and Cocoa Council (CCC) Massandje Toure Litse, owing to a crisis over cocoa contract defaults and other management issues, sources said on Tuesday. Former presidential advisor Yves Kone will be the new CCC managing director, one of the most powerful government positions in the world's leading cocoa producer, a source from the finance ministry and a CCC source confirmed to Reuters. Prime Minister Amadou Gon Coulibaly took the decision on Tuesday and will officially announce it during Wednesday's cabinet meeting, the sources said.
(Bloomberg 08/02/17)
Julien Ochala can’t live without his morning cup of Joe. But not just any coffee will do. For the past five years, the 37-year-old physiology lecturer at King’s College London has visited the same store every week to grab a pack of his beloved Kenyan brew. And he’s not put off by the cost: at 37 pounds a kilogram ($22 a pound), it’s more than double a similar supermarket product. "I take Kenyan coffee every morning," said Ochala, who buys his beans from Monmouth Coffee Company in Borough Market. "I love it because of the relatively higher acidity level. It keeps me active in the afternoons." Customers willing to pay a premium for African brews, known for their floral, fruity...

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