Thursday 29 June 2017
(AFP (eng) 06/28/17)
A top anti-corruption investigator probing the judiciary has been shot in southern Nigeria, the country's Economic and Financial Crimes Commission said Wednesday. Austin Okwor, an operative in the property fraud section of the EFCC, was leaving his Port Harcourt office late on Saturday when gunmen shot him, said spokesman Wilson Uwujaren. Okwor "escaped death by the whiskers" and sustained bullet wounds, said Uwujaren, adding he had received "threat messages" in recent months. "This incident underlines the hazards which operatives of...
(AFP (eng) 06/28/17)
AngloGold Ashanti, the world's third largest gold miner, said Wednesday it was considering 8,500 job cuts in South Africa as part of a turnaround strategy to curb losses. "This restructuring contemplates some 8,500 roles across AngloGold Ashanti's South African business," the Johannesburg-based company said in a statement. The firm employs around 28,000 people. It said challenges faced in South Africa included the "near-depletion of ore reserves" while some older mines had become uneconomic. "This is a difficult decision which follows a period of significant and ultimately unsustainable losses...
(AfricaNews 06/28/17)
Internet connection in Congo-Brazzaville was restored on Saturday after 15 days of nationwide disruptions and slowdowns that started since June 9, 2017, after a damage to the country’s main submarine cables. It was restored ahead of the five-week projected period given by the technical team working on the cut cable. Network providers confirmed days after the outage that the problem was caused by a submarine cable cut off in the Atlantic Ocean near the economic capital Pointe-Noire. Cedric Nzimbou, a network engineer with SkyTic Telecom – one of the country’s major network providers – told Africanews that the “12-kilometer fibre optic West African Cable System (WACS) that connects the country through Pointe-Noire...
(Reuters (Eng) 06/28/17)
Democratic Republic of Congo raised its key interest rate to 20 percent from 14 percent on Monday as it sought to stabilise its volatile franc currency, the central bank said in a statement. The Congolese franc has lost half of its value against the dollar over the past year due to low tax revenues from foreign investors and high government deficits. “In the aim of confronting the rising exchange rate trend of the Congolese franc and reducing the pace of interior price increases, the Central Bank of Congo has just, once more, tightened its monetary policy,” the statement said. The bank last adjusted rates in February.
(Agence Ecofin 06/28/17)
The volume of trade between Nigeria and Mexico rose from $166.5 million in 2012 to $600 million in 2016, Deputy Head of Mission of the Mexican Embassy, Rodrigo Tenorio, revealed in Abuja. “Though the figure may be small but in reality it is a huge transaction that we have in the last 15 years which was $45 million. What that means is that it has grown more than 500 times and our aims and goal is to have it grow...
(Macauhub 06/28/17)
The Chinese province of Fujian and São Tomé and Príncipe will carry out studies on industrial fishing in the territorial waters of the archipelago, the director general of the São Tomé Fisheries, João Pessoa, told Macauhub in São Tomé on Tuesday. The studies are part of a fisheries cooperation agreement signed recently in São Tomé by João Pessoa and Lian Ching, head of a mission from that province of China. After visiting “several points of fishing interest” in the archipelago, the Chinese technical team concluded that “São Tomé and Príncipe has great potential for the ...
(Agence Ecofin 06/28/17)
The new Gambian government is set to receive some $16.1 million from the International Monetary Fund (IMF) as emergency financial support to help curb the country's current economic challenges, online news medium, Jollofnews disclosed. It said IMF's Executive Board Monday approved emergency fund deal under the Rapid Credit Facility (RCF), seeking to help the West African nation meet its urgent balance of payment needs. According to the report, IMF has approved a one-year staff-monitored program (SMP) to guide policy implementation, under the new democratic dispensation ushered through a first ever democratic transition in the country since independence in 1965.
(Macauhub 06/28/17)
The export of cocoa in the first quarter of the year provided São Tomé and Principe with a revenue of 24.3 billion dobras (just over US$1 million), according to figures from the National Statistics Institute (INE) obtained by Macauhub in São Tomé. The figures provided by INE show that revenue from cocoa sales, which accounted for 71.1% of all exports of agricultural products in the period, showed a 39.1% decrease in dobras (São Tomé’s currency) due to a drop in...
(Agence Ecofin 06/28/17)
Germany-based solar developer, Soventix, and Gentec EPC, a pioneer in the Nigerian energy industry, have together formed a joint venture to develop solar projects across Nigeria. Called Soventix Hybrid Limited, the first phase of the joint venture will focus on industrial rooftop solar applications that will synchronize with existing generators or grid power systems. This will allow industries have additional sources of power generation at a lower price and at the same time reduce emissions significantly. The Phase 2 would also aim to develop national solar parks. “Given the significant shortfall of reliable power across Nigeria, at a residential, industrial and national grid level, solar energy is well positioned to play a major role...
(Agence Ecofin 06/28/17)
In Angola, the kwanza will not be devaluated, any soon at least. This was announced by the governor of the Central Bank of Angloa, Valter Filipe da Silva, at the end of joint session of economic commission and the commission for the real economy of the council of ministers. The governor explained that inflation which exceeded more than 40% has considerably decreased over the past months. "That is why we understand and will continue to reaffirm that at this moment...
(Agence Ecofin 06/28/17)
Etisalat Nigeria and Comptel Corporation have launched a time-based mobile data solution called BlazeOn, in the Nigerian market. Powered by Comptel’s FWD solution, BlazeOn allows internet users to know how much mobile data they consume while browsing or streaming. FWD is a cloud-based solution that allows contextual and time-based data packages to be purchased directly from end user devices. “Most internet users in Nigeria don’t know how much mobile data they consume while browsing or streaming. BlazeOn, our time-based data...
(Agence Ecofin 06/28/17)
The government of Zimbabwe and Sakunda Holdings signed a $478 million agreement with CBZ Bank, Barclays and Ecobank to finance agricultural activities during the 2017-18 summer season, Reuters reported. Maize and soya production are mainly concerned. To this end, the government plans to start distributing between July and September, seeds, fertilizers and chemical products to farmers ahead of sowing which begins in November. This initiative confirms the government’s commitment to improve food security in the country. Food security which the...
(Bloomberg 06/28/17)
AngloGold Ashanti Ltd. may cut about 8,500 jobs in South Africa and halt some unprofitable operations as the world’s third-largest gold producer pursues a turnaround in its home country. AngloGold intends to place its Kopanang mine and the Savuka section of the TauTona mine on care and maintenance, the Johannesburg-based company said in a statement Wednesday. AngloGold is taking the steps “to ensure the viability of our remaining operations,” spokesman Stewart Bailey said by phone. AngloGold’s South African mines made...
(APA 06/28/17)
Botswana’s Ministry of International Affairs and Cooperation on Wednesday denied social media reports alleging that the country had slapped visas requirements on Zimbabweans and closed its embassy in Harare. The messages on social media alleged that the Minister of International Affairs and Cooperation, Pelonomi Venson-Moitoi revealed this during an interview on the state of relations between Zimbabwe and Botswana. But in a statement, the ministry states that Venson-Moitoi was never recently interviewed by any reporter on Botswana’s relations with Zimbabwe...
(Ghana Web 06/28/17)
The number of Ghanaians visiting São Tomé ad Principe, a twin Island on the Atlantic Ocean that lies on the equator, has increased by about 20percent since 2015, necessitating the increase in flight frequency between the two countries to meet demand. The island nation, which boasts of pristine waters, lush vegetation, and ideal ocean spots for scuba diving, was hitherto mainly patronized by Europeans as a holiday destination until Lisbon-based TAP Portugal introduced a direct flight from Accra to São...
(Agence Ecofin 06/28/17)
The Nigerian Bank of Industry (BoI) is looking to borrow about N1trillion ($3.1billion) from local and foreign development partners to improve its capital base. Speaking while inspecting some of the projects supported by the bank in Edo State, the Managing Director of BoI, Olukayode Pitan, explained that by increasing its capital base BoI would be able to meet the demand of investors in different parts of the country. “Edo State is one of the states where we have existing relationship...
(Agence Ecofin 06/28/17)
ASKY, The Pan African Airline is pleased to announce the commencement of daily flights between LAGOS, ACCRA and ABUJA starting July 3rd, 2017 according to the below Schedule in UTC: Schedule for LAGOS-ACCRA v.v. Days Origin Departure Arrival Destination Daily ACCRA 0845 0945 LAGOS Daily LAGOS 1455 1555 ACCRA Schedule for ACCRA-ABUJA v.v. Days Origin Departure Arrival Destination Daily ABUJA 0625 0805 ACCRA Daily ACCRA 1635 1815 ABUJA These new routes offers more capacity and flexibility with a significant reduction...
(Le Monde 06/27/17)
Ce que les Chinois, les Turcs, les Indiens réussissent à faire, pourquoi les entreprises françaises ne le feraient-elles pas ? demande Etienne Giros. La France vit un bouleversement politique d’une ampleur surprenante. Sous l’impulsion d’un président de 39 ans, un large renouvellement du personnel politique va de pair avec un écroulement des partis traditionnels et l’émergence d’une nouvelle majorité. Les relations avec l’Afrique seront évidemment impactées par ce mouvement. A cette occasion, qu’il soit permis aux entreprises françaises investies en...
(Bloomberg 06/27/17)
The International Monetary Fund had suspicions about Mozambique’s hidden loans almost a year before the government finally admitted it had undisclosed debt, email exchanges between the fund and the government show. The communications, seen by Bloomberg and confirmed by the IMF, show for the first time how the fund sought to uncover the state’s concealment of its borrowings as far back as May 2015. The government’s eventual disclosure in April 2016 of more than $1 billion of previously hidden loans led the fund and...
(AFP (eng) 06/27/17)
Kenya's election commission announced Tuesday that there would be five million new voters taking part in August polls, raising the stakes for incumbent Uhuru Kenyatta and his longtime rival Raila Odinga. After the first-ever audit of the voter's register -- often seen as a key point at which an election can be rigged -- the election commission (IEBC) announced a final list of 19.6 million voters. "Comparatively, the register of voters has increased by 36 percent (5,222,642 voters) since 2013,"...

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