Sunday 25 June 2017
(AFP (eng) 06/14/17)
Tunisia has extended for another four months a state of emergency in place since a 2015 jihadist attack, the president's office announced on Wednesday. "President Beji Caid Essebsi decided on Wednesday to extend the state of emergency for four months starting from Thursday, June 15," his office said on Facebook. The state of emergency has been in place since a November 2015 jihadist bombing in Tunis that killed 12 presidential guards. The Islamic State group claimed the attack as well as bombings earlier in 2015 at the Bardo National Museum in Tunis and at a beach resort near Sousse that killed a total of 59 foreign tourists and a Tunisian guard. They were part of...
(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...
(Xinhuanet 06/02/17)
Oil and gas productions in the fields of Tataouine, southwest of Tunisia and Kebili, southeast of Tunisia, have been completely interrupted due to protests in both provinces since two months ago, announced on Thursday night the Tunisian Ministry of Energy and Mines. "Having a direct negative impact on the national economy, these sit-ins lead to a halt in production, hence the worsening trade deficit due to a shortfall of 24 million dinars (9.88 million U.S. dollars) per week," said the Ministry in a press release. According to the release, the oil fields located in the two provinces provide 46 percent of the national oil production and 27 percent of gas production.
(Reuters (Eng) 05/22/17)
Tunisian protesters demanding jobs and a share in energy wealth have closed down another oil pumping station in defiance of government efforts to protect oil and gasfields with troops and negotiate an end to unrest. Protesters peacefully shut a pumping station at Faouar in southern Kebili province, where French oil company Perenco operates, according to TAP state news agency and Mosaique FM and Shems FM radio stations. It is the second pumping station closed by protests in the southern provinces,...
(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...
(Agence Ecofin 05/18/17)
In the 2017-2018 season, Tunisia aims to import 2.1 million tons of wheat and barley (soft and hard), against 2.4 million tons the previous season. This was disclosed by Taoufik Saidi, director general of Tunisia’s Office des Cereales (OTC), in an interview with Bloomberg. The grains will be bought via international call for tenders. According to Saidi, the 12.5% slump in the grains imports is to be attributed to a better output. Indeed, combined wheat and barley outputs is expected...
(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...
(Xinhuanet 05/16/17)
More than 55 percent of Tunisian imports come from the European Union (EU) during the first four months of the current year, Tunisian Minister of Commerce Zied Laadhari said on Monday. At a press briefing here in the government headquarters, Laadhari said, besides the imports from the EU, 8.4 percent of Tunisian imports come from China, 6.2 percent from Arab countries, 4.6 percent from Turkey, 4.2 percent from North America and 3 percent from Russia. According to Laadhari, imports from...
(Xinhuanet 05/16/17)
Tunisia's National Statistical Institute (NSI) said on Monday that the country's economic growth in the first quarter of 2017 reached 2.1 percent year-on-year. According to NSI, the Tunisian GDP grew 0.9 percent from the last quarter of 2016. The NSI attributed such growth to the positive performance of tourism sector, which posts a growth of 35 percent. However, the manufacturing sector declined 1.1 percent, while non-manufacturing industries saw a mild growth of 0.2 percent, it said.
(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...
(Reuters (Eng) 05/09/17)
Protests over jobs and development in southern and central Tunisia have halted production at or shut the fields of two foreign energy companies in a new challenge to the country's Prime Minister Youssef Chahed. For Tunisia, a small oil and gas producer compared to its OPEC neighbors Libya and Algeria with national production is around 44,000 barrels per day, the protests come at a sensitive time as Chahed's government tries to enact austerity reforms. Tunisia's Energy Minister Hela Chikhrouhou told reporters sit-ins halted production at energy company Perenco's Baguel
(Xinhuanet 05/09/17)
Tunisian oil production has declined remarkably during the last six years following the uprising of 2011, said Tunisian Minister of Energy and Mines Hala Chickrouhou on Monday. Chickrouhou revealed during a press briefing in Tunis that the contribution of oil companies to the Tunisian state budget has decreased from 3 billion dinars (1.23 billion U.S. dollars) between 2009 and 2010 to 1 billion dinars (0.41 billion dollars). Tunisia does not present itself as one of the biggest oil-producing countries, but...
(Agence Ecofin 05/05/17)
In Tunisia, 40,000 occupants and users will soon have their land situation regularised. This was announced by the nation’s Prime Minister, Youssef Chahed, on May 2, as was being launched a nation-wide regularization campaign in the Northern part of the country. “The campaign aims to regularise the land situation regarding appropriation in order to introduce thousands of farmers into to economic system and restart investment and development in all regions to give a great boost to the economy and provide...
(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...
(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...
(Agence Ecofin 04/28/17)
According to statistics released by the Tunisian Foreign Investments Promotion Agency, foreign direct investments (FDIs) in Tunisia rose 18% to $177.68 million during Q1 2017, as compared to the same period the year before. Amongst sectors that captured most foreign investments are manufacturing and services. The first attracted $59 million worth of FDIs while the second attracted $23 million. Tunisia hopes to attract more foreign investment in order to revive its economy which has been staggering for some years now. This month, Tunisia implemented a new law which aims to make it easier for foreign investors to transfer their profits out of the country.
(Business Day Ghana 04/27/17)
There are currently 960 million mobile subscriptions across Africa – an 80 percent penetration rate among the continent’s population. Internet penetration is at 18 percent with 216 million internet users, according to the latest Jumia mobile trend report for Africa. The 2017 edition of the African Mobile Trends Paper is the third white paper presentation from Jumia delving into mobile trends across Africa and specifically Nigeria. The study takes a look at the how the market has democratised mobile internet...
(Xinhuanet 04/26/17)
The Belt and Road (B&R) Initiative is a golden opportunity to bring about regional integration and sustainable economic growth for Africa, said Berhane Gebre-Christos, special envoy of the Ethiopian Prime Minister, on Tuesday. The special envoy made the remarks at the opening of a seminar organized on the B&R Initiative in Ethiopia's capital Addis Ababa. Welcoming the initiative, the special envoy said he is looking forward to the expected effects of the initiative. "The B&R is a project that will...

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