Friday 15 December 2017
(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...
(Bloomberg 08/01/17)
British American Tobacco Plc faces a formal probe by the U.K.’s Serious Fraud Office following reports that the maker of Dunhill cigarettes bribed African government officials to influence tobacco legislation. BAT said Tuesday it is running its own investigations, via external legal advisers, into allegations of misconduct and is cooperating with the U.K. prosecutor. A BBC report two years ago said BAT had a lobbyist arrange bribes totaling $26,000 for three public officials in Rwanda, Burundi and the Comoros Islands in 2015. The British broadcaster said the bribery was revealed by a former employee, Paul Hopkins. At the time, BAT said “we do not tolerate corruption in our business, no matter where it takes place.” The SFO investigation adds to...
(Reuters (Eng) 07/28/17)
Barclays reported a 1.2 billion pound ($1.57 billion)attributable first half loss on Friday after taking a 2.5 billion pound hit from the sale of its Africa business and calling an end to its restructuring. The British bank said it had made a 1.4 billion pound loss on the sale of 33 percent of Barclays Africa Group, and took a further 1.1 billion pound impairment charge on the sale. Barclays in June cut its stake in Barclays Africa Group to 15 percent, ending more than 90 years as a major presence in the continent as it shifts its focus back to Britain and the United States. The losses from the sale of unwanted assets including the Africa business showed the costs...
(AFP (eng) 07/27/17)
Guinean reggae musician Takana Zion was arrested Tuesday and charged with disturbing public order by a court in the capital Conakry, days after colleague reggae musician Elie Kamano was charged for the same offence. Takana Zion, real name Mouctar Soumar was arrested while leading a protest in the capital against President Alpha Conde’s suspected third term bid, corruption and ethnocentrism, his lawyer Berete Fidiki told AFP. Dozens of protesters made up of musicians and human rights activists were dispersed by the police with tear gas as they marched towards the city centre to hold a rally. Takana Zion was also charged for unauthorized assembly and ordered to report to the police twice a week, the lawyer added. A week ago,...
(AfricaNews 07/27/17)
At a time when Africa is going through a difficult situation, the blue economy is emerging as a stepping stone to relaunch the continent in the right economic direction. But this type of economy is seriously threatened by “predators” who do not hesitate to plunder resources. The “cancer of illegal fishing” costs Africa about $ 1.6 million annually based on Economic Commission for Africa’s estimates. This and more on this week’s edition segment on Business on the Morning Call with Jean David Mihamle.
(AFP (eng) 07/25/17)
Britain's Serious Fraud Office has opened an investigation into mining giant Rio Tinto for "suspected corruption" surrounding the development of the world's biggest untapped iron-ore deposit in Guinea. Plans to mine the massive Simandou iron ore deposits -- a US$20-billion project deep in the remote interior of the poor west African country -- have been mired in legal disputes and political upheaval for years. Rio Tinto reported itself to regulators last November after conducting an internal probe into US$10.5 million in payments made over the project. In a statement late Monday, Britain's fraud investigators said: "The SFO has opened an investigation into suspected corruption in the conduct of business
(Agence Ecofin 07/25/17)
The Guinean government will compensate the residents of the Demoudoula classified forest whose homes were destroyed during the land recovering operation of last July 13th. However, only those holding a valid title to prove their ownership will receive the payment. “The minister of Urbanism and Land Development calls all citizens holding a land title and whose homes have been affected during the mission to destroy all illegal constructions in the Demoudoula classified forest to submit the deed as soon as possible at his office for verification. Those whose titles will be found irregular will be rejected and any person involved in the falsification and provision of such document will be sued according to the Law,” reads a statement dated July...
(Reuters (Eng) 07/25/17)
LONDON (Reuters) - Britain's anti-fraud regulator has opened an investigation into suspected corruption in Australian-British miner Rio Tinto Plc's business conduct in the Republic of Guinea, the agency said. In a statement on Monday, the Serious Fraud announced the probe into the company, one of the world's largest metals and mining corporations, its employees and others associated with it. In November Rio Tinto said it had become aware of emails that referred to unexplained payments of $10.5 million in connection with the Simandou iron ore project in the West African nation. "Rio Tinto will fully co-operate with the Serious Fraud Office and any other relevant authorities, as it has done since it self-reported in November 2016," the company said in...
(Voice of America 07/25/17)
European and African ministers are meeting in Tunisia about efforts to regulate the flow of refugees from Africa to Europe, primarily along the deadly central Mediterranean route originating in Libya. In a declaration Monday in Tunis, the capital, the ministers said they agreed on a multi-pronged approach to the crisis, including informing people about the risks of illegal migration and the possibility of voluntarily returning home, addressing why migrants leave home and beefing up actions against human traffickers. Participating in the meetings were interior ministers from Algeria, Austria, Chad, Egypt, France, Germany, Italy, Libya, Mali, Malta, Niger, Slovenia, Switzerland, Tunisia and Estonia, which currently holds the EU Council presidency. Through the first half of 2017, nearly 84,000 migrants arrived in...
(AFP (eng) 07/24/17)
Guinea thrashed Guinea-Bissau 7-0 in Conakry Saturday for a record winning margin for an African Nations Championship (CHAN) qualifier. The west Africans overtook Tanzania, who walloped Somalia 6-0 in Dar es Salaam during 2011 qualifying. In 15 previous qualifying matches since the competition for home-based players kicked off in 2008, Guinea never won by more than two goals. Sekou Amadou Camara was the destroyer-in-chief for the Guineans at the national stadium, netting four times to equal the individual scoring record for a qualifier. Guinea took 38 minutes to score, through Camara, and led 2-0 at half-time before the floodgates opened during a second half that yielded five more goals. They won the West zone A second round tie 10-1 on...
(AFP (eng) 07/24/17)
Senior politicians in the Economic Community of West African States (ECOWAS) on Saturday called for measures to cut the birth rate in the region in order to bring the population explosion there under control. Deputies of ECOWAS, Mauritania and Chad should be aiming to cut back the birth rate to three children per woman, said Salifou Diallo, Burkina Faso's speaker of parliament. The idea, he said, was to cut the birth rate in half by 2030, in a region that has the highest fertility rates in the world. He called for countries to adopt measures including universal access to family planning, improved education for women and better health care of children, to bring about "a rapid, voluntary decline" in the...
(AFP (eng) 07/21/17)
Two women and a man who slipped past security in northeastern Guinea to pan for gold in the region's mines died Thursday in a landslide, following a week of heavy rains. Guinea's soils are rich in gold, diamonds and bauxite, but it remains one of the world's poorest countries, driving so-called "artisanal" miners to search for minerals alone or in small groups with little safety equipment. Alfamadi Kamara, who oversees security of the mines in the Boure Boukaria area near the city of Siguiri, told AFP they discovered the dead after they entered the premises unnoticed. "We were taken by surprise by these illegal gold prospectors," he said by phone. "They took advantage of the moment we were having breakfast...
(AFP (eng) 07/21/17)
The 2019 Africa Cup of Nations will expand from 16 to 24 teams and be staged in June and July, the Confederation of African Football (CAF) announced on Thursday. The tournament has traditionally been held in January and February, with the timing of the tournament a source of frustration to European clubs forced to release players in the middle of the season. The CAF executive committee confirmed the changes to the format following a two-day symposium in Rabat, although the tournament will continue to be held every two years and exclusively on African soil. The decision to increase the number of teams mirrors a similar one taken by UEFA to expand the European Championship, with 24 nations taking part at...
(Reuters (Eng) 07/20/17)
JOHANNESBURG (Reuters) - Africa's major central banks are entering an easing cycle as they try to stimulate growth after months of drought, austerity drives and confidence issues across the continent, a Reuters poll found on Thursday. Much of southern and eastern Africa is still recovering after an El Niño-related drought wilted crops last year. Poor business confidence in South Africa and foreign exchange restrictions in Nigeria have also hampered growth. "We expect that African monetary policy is entering a widespread and protracted period of policy easing. This will provide a boost to growth," said John Ashbourne, Africa analyst at Capital Economics. Ghana, which agreed a three-year fiscal discipline deal with the International Monetary Fund in exchange for aid in 2015,...
(Bloomberg 07/19/17)
Vodacom Group Ltd. sees the expansion of mobile-banking services into new markets in sub-Saharan Africa as a top priority following a shareholder vote to rubber stamp its purchase of a 35 percent stake in Safaricom Ltd., Kenya’s biggest company. “We will use Safaricom to enter other markets where neither Vodacom nor Safaricom are,” Chief Executive Officer Shameel Joosub said in an interview at the wireless carrier’s annual general meeting in Johannesburg on Tuesday. The two businesses have a combined 30 million mobile-banking customers, giving them “a very sizeable platform on the continent,” he said. Vodacom’s purchase of the Safaricom stake from U.K. parent company Vodafone Group Plc gives the South African company access to the fast-growing M-Pesa platform, which processed...
(Reuters (Eng) 07/18/17)
Three years after he risked his life crossing the Mediterranean Sea from Libya to Italy on a small boat crammed with migrants, 22-year-old Sow Muhammed can hardly believe his luck. The former street hawker from Guinea now works as a caterer in Venice, rents his own apartment, and sends money back home regularly to his mother and siblings in the West African nation. "I am happy I came to Europe, and my family is also happy," he told the Thomson Reuters Foundation as he packed up leftovers at a training event for people who work with refugees, where he had served a menu which included traditional African dishes. "I talk to my family frequently, ask them their needs, and help...
(Xinhuanet 07/17/17)
Africa is making progress towards the establishment of a trade zone by Oct. 30 that will cover approximately half of the continent's member states. The Common Market for the Eastern and Southern Africa (COMESA) Director of Trade and Customs, Francis Mangeni, said in a commentary published in the Star Newspaper on Monday that so far 19 of the 26 countries involved have signed the agreement. "Three outstanding annexes had meant the tripartite agreement was not complete and this was advanced by some countries as the reason they could not sign or ratify the agreement. However their adoption represented a milestone in the negotiation, as it removed the last obstacle to signing and ratifying the agreement," Mangeni said. The tripartite free...
(Cnbc Africa 07/12/17)
"Africa is an awakening giant," according to the former South African President Frederik Willem de Klerk speaking at the World Petroleum Congress in Istanbul. The leader who oversaw the transition of his country's power to Nelson Mandela said Tuesday that the future looks bright for a continent previously blighted by war, famine and a lack of infrastructure. "I believe Africa is an awakening giant and, yes, it is not performing according to what we expected soon enough, but it will perform," he said. De Klerk believes that African countries are primed to take advantage of the world's growing size. "If we look at food shortages for the rest of the world with a growing population, Africa is the solution," he...
(AFP (eng) 07/11/17)
As West Africa declares war on the market for expired and counterfeit medicines, start-ups are putting quality control in the hands of patients to stop them risking their lives trying to get well. Not only can such drugs fail to treat the diseases they are bought to combat, experts say, but they may encourage resistance to antibiotics and even cause death as diseases continue to course unchecked through the body. At an April meeting in Liberia, the 15-member Economic Community of West African States (ECOWAS) announced a region-wide investigation into the trafficking of expired and counterfeit drugs, and a public awareness campaign. Traffickers in bad medicine prey on some of the world's poorest and most in need, who also face...
(Voice of America 07/11/17)
In the past five years, terrorist attacks have killed nearly 20,000 people across Africa. Two groups, Boko Haram and al-Shabab, accounted for 71 percent of reported incidents and 91 percent of fatalities. But, while these and other militant groups remain active, fatal terrorist attacks across the continent are on pace to fall for a second straight year, and the total number of attacks is running far below 2012 highs. These findings are part of VOA’s original analysis of data from ACLED, the Armed Conflict Location and Event Data Project. ACLED tracks political violence, protests and terrorist events across Africa. Their reports include attacks since 1997 based on data collected from local news media, government statements, non-governmental organizations and published research...

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