Tuesday 25 July 2017
(Daily Monitor 07/20/17)
Trade minister Amelia Kyambadde has said no payment will be made until traders who supplied goods and services to the government of South Sudan are verified. Ms Kyambadde said her ministry will write to the ministries of Finance and Foreign Affairs to avail a report of confirmed traders to be catered for. She added that they will also write to the Speaker of Parliament Rebecca Kadaga to halt the process regarding the matter. “We cannot run away from you traders when they have unfinished business. Ten years of suffering is too much for one’s business to be affected. We are going to do our part to ensure that all the processes are properly done,” the...
(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...
(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...
(APA 07/12/17)
The Minister of Information in Fashoda State, South Sudan has said river transport routes have re-opened to allow traders move goods to the towns of Kaka, Kodok and Malakal. The routes were closed following the outbreak of civil war in 2013. Speaking on Tuesday Mr. Othor Akouj said the state government resolved to re-open the river transport after they provided security. “The river transport routes have been re-opened, and boats are now moving from Kodok to Malakal and from Malakal...
(Bloomberg 07/10/17)
Many cell phone companies are rethinking their headlong rush into the continent. Only Orange is staying the course. Back when African countries were auctioning off mobile licenses by the boatload to serve the region’s young, tech-savvy population, investing in the continent’s fast-growing economies seemed like a no-brainer. Some of the world’s biggest wireless carriers rushed in. Now they’re wondering if they made a mistake. Increasing government and regulatory scrutiny, as well as a lack of expansion opportunities in sub-Saharan Africa,...
(AFP (eng) 06/15/17)
"I sell the small bottle of cooking oil for 140 SSP. Six months ago, it was 70. The customers complain," said James Deng, an 18-year-old stallholder in Aweil, South Sudan. In this regional market in the country's northwest -- just as at the main Konyokonyo market in the capital Juba, 800 kilometres (500 miles) to the south, and other towns across the country -- prices of essential items have rocketed as a direct consequence of almost uninterrupted civil war since...
(AFP (eng) 06/12/17)
German Chancellor Angela Merkel will on Monday meet African leaders in Berlin on initiatives aiming to reduce the poverty and conflict driving a mass migrant influx to Europe. The idea is to team up African nations willing to reform with private investors who would bring business and jobs to a continent where instability or graft often scare off foreign companies. Merkel is hosting the initiative as part of Germany's presidency of the Group of 20 powerful economies, whose leaders meet in the northern port of Hamburg a month later. Invited to Berlin are Egyptian President Abdel Fattah al-Sisi and the leaders of Ghana, Ivory Coast...
(Bloomberg 06/06/17)
Total SA approached South Sudan about developing two of its biggest oil blocks after previous talks on the fields collapsed, according to the African nation’s petroleum minister. "They have written to me that they are still interested" in blocks B1 and B2, Ezekiel Lol Gatkuoth said Monday in an interview in Cape Town. Tullow Oil Plc has also asked to discuss the blocks, he said. South Sudan needs foreign investment to ramp up oil production -- currently at about 130,000 barrels a day -- after conflict that erupted in 2013 cut output. Discussions with Total on blocks B1 and B2 reached an impasse in April
(Xinhuanet 05/24/17)
Entrepreneurs from East Africa on Tuesday called for increased investments in the power generation so as to develop a strong value-added manufacturing base in the region. Delegates participating in the second high-level East African Manufacturing Business Summit and Exhibition (EAMBS) held in Rwanda's capital city Kigali, said that heavy investments by both private and the public in the energy sector will enhance the production capacity of manufacturing industries in the region. Rwanda hosts the forum from May 23 to 25...
(Reuters (Eng) 05/22/17)
Countries in sub-Saharan Africa need to get their budgets in order, diversify their economies and look after their poorest people. If they do that, there is no reason why the region cannot have the strong growth needed to meet the aspirations of a young and growing population. That, at least, is the three-pillared prescription from the International Monetary Fund as expressed by one of its top Africa researchers, Celine Allard, in an official IMF blog post and podcast. Allard co-authored...
(Reuters (Eng) 05/19/17)
When rich countries wrote off billions of dollars of African debt in 2005, they hoped governments would think twice about borrowing again in costly foreign currencies. Over a decade later, most sub-Saharan African countries still rely on U.S. dollar-denominated debt to finance their economies. Some investors say this is sowing the seeds of future debt crises if local currencies devalue and make dollar debt repayments more expensive. Aside from South Africa and Nigeria, governments have not yet done enough to...
(Bloomberg 05/18/17)
Steinhoff International Holdings NV plans to list its African assets separately as the acquisitive retailer seeks a new prize for shareholders following this year’s failed merger talks with Shoprite Holdings Ltd. The company said Wednesday it will seek to list businesses including clothing retailer Pepkor and furniture chain JD Group Ltd. on the Johannesburg Stock Exchange, about 18 months after moving its primary listing to Frankfurt from the South African commercial hub. The new business could be worth as much...
(Bloomberg 05/16/17)
When the impoverished West African nation of Niger imposed a ban on donkey exports last year, a small community of traders just over the border in Nigeria was devastated. “Before the ban, you could see thousands of donkeys here,” said Mohammed Sani, a 45-year-old trader in the Nigerian town of Jibiya, as he wiped the sweat off his brow. “Now look at them: there’s no more than 50, crippling the business.” Donkeys are being slaughtered at an alarming pace to...
(Voice of America 05/05/17)
As Africa grapples with a severe drought, and famine threatens millions of people, experts at the World Economic Forum on Africa this week in the South African city of Durban say food security needs to be a major part of discussions on advancing the continent economically. The annual World Economic Forum in Switzerland is usually a high-powered event, but at this week’s Africa meeting of the international organization, the continent’s big players are welcoming the humble farmer, now known as...
(Xinhuanet 05/04/17)
The World Economic Forum (WEF) Africa Competitiveness Report 2017 released in Durban Thursday called for urgent policy reforms if the continent intends to create more jobs for its growing young population. According to the report issued at the 27th WEF on Africa, fewer than one-quarter of the 450 million new jobs required in the next 20 years will be created if current policies remain unchanged. The report called for structural reforms in the economies to create more jobs for the...
(Xinhuanet 05/02/17)
The South Sudan Workers and Trade Union on Monday called on the government to implement a pledge to increase salaries for all civil servants by threefold and improve working conditions for employees in the public and private sectors. George Paul Baya, Secretary for External Relations at the Labour Union said the government failed to fully implement its promise as only civil servants working for the central government got the salary hike while those in the local governments and private sector...
(Bloomberg 05/02/17)
Saudi Aramco is seeking to boost its fuel-trading volume by more than a third as the world’s biggest crude exporter expands its capacity to refine oil to grab a bigger share of growing markets in Asia and Africa. Aramco, as Saudi Arabian Oil Co. is known, is building refineries in the kingdom and in Asia to help it increase sales and purchases of gasoline, diesel and other products to more than 2 million barrels a day, said Ibrahim Al-Buainain, chief...
(Voice of America 04/27/17)
The World Bank is distancing itself from reports that it has given a grant to the government of South Sudan worth tens of millions of dollars. A World Bank spokesperson in Ethiopia told VOA's South Sudan in Focus on Wednesday that the bank had proposed to donate $50 million to U.N. aid agencies combating famine and food insecurity, but that those funds were still pending approval from the board. Finance Minister Stephen Dhieu Dau told Reuters on Monday that the...
(Geeska Afrika 04/27/17)
Public Diplomacy & Regional Investment for Stability. The Somalia ambassador to South Sudan, Hussein Hajji Ahmed Mohamoud has urged the South Sudanese government to protection the Somalia businessmen in the war-torn, amid heavy deployment of troops in various parts of the capital, Juba. The envoy made the request during a meeting with South Sudan’s interior minister, Micheal Chiengjiek Geay on Wednesday. “The meeting resolved the issue of security challenges facing Somalia nationals residing in Juba and across the country”, the...

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