| Africatime
Saturday 29 April 2017
(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 there is new hope. In the 1960s, Japanese researchers developed a drug called tranexamic acid, which works by stopping blood clots from breaking down. But they could not persuade doctors to try the drug for...
(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 nation is yet to decide which banks will be hired as financial advisers and a roadshow will be held in London and the U.S., according to the people. Ivory Coast sold $1 billion of debt in 2015 and $750 million...
(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...
(Bloomberg 03/31/17)
Ivory Coast cut the price paid to cocoa farmers by 36 percent, a blow to growers in the world’s top producer who have benefited from increases each year since the country reformed the industry in 2012. Farmers will get 700 CFA francs ($1.14) a kilogram for the smaller of two annual harvests that starts next month, said Bruno Kone, a spokesman for the government in Abidjan. That’s down from 1,100 CFA francs for the main crop. The decision comes at...
(Bloomberg 03/30/17)
Ivory Coast is considering reducing its cocoa-export tax as the world’s top producer seeks to ship out a record crop, a person familiar with the matter said. The government may reduce the levy from the current rate of 22 percent, according to the person, who asked not to be identified because the information is private. Budget Minister Abdourahmane Cisse didn’t answer calls seeking comment, while a government spokesman said the state is doing all it can to ensure a smooth...
(Bloomberg 03/28/17)
Ivory Coast’s government said it is seeking more assistance from the International Monetary Fund to support the nation’s 2017 budget after cocoa prices slumped, hurting the finances of the world’s biggest grower. “With cocoa prices falling, we have some new budget constraints,” government spokesman Bruno Kone said by phone from the commercial capital, Abidjan, on Sunday. Ivory Coast will issue the request as representatives of the IMF visits the West African nation until the first week of April for a...
(Voice of America 03/28/17)
The World Health Organization and U.N. children's fund are spearheading a massive immunization campaign across Africa to rid the continent of the last vestiges of polio. Tens of thousands of health workers will fan out across 13 central and western African countries to vaccinate more than 116 million children under age five against the crippling disease. The U.N. agencies report more than 190,000 volunteers, traveling on foot or bicycle, will go house to house across all cities, towns, and villages...
(Bloomberg 03/24/17)
After overseeing sub-Saharan Africa’s fastest-growing economy and six years of relative peace, Ivory Coast President Alassane Ouattara is in the midst of a year from hell. First soldiers staged a mutiny, then public workers went on strike and now cocoa prices have fallen. All told, the West African nation is facing the worst social unrest since Ouattara, 75, assumed power in 2011. With cocoa prices in London dropping more than 30 percent from July, the government in the world’s top...
(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...
(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...
(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...
(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...
(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...

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