Tuesday 17 October 2017
(APA 10/16/17)
APA-Dakar (Senegal) - The president of the African Development Bank, Akinwumi Adesina, will deliver the Norman Borlaug Lecture on Monday 16 October as part of the World Food Prize events taking place from October 16 to 20, 2017 in Des Moines, Iowa, USA. The Norman Borlaug Lecture under the title: “Betting on Africa to Feed the World”, will be held on World Food Day, October 16, in conjunction with the annual World Food Prize celebration. AfDB President Adesina will receive the 2017 World Food Prize on Thursday October 19, announced a press release issued by the AfDB on October 16, which also said “the prize is to agriculture what the Nobel Prize is to peace,...
(AFP (eng) 10/10/17)
Economic growth in sub-Saharan Africa is set to accelerate to 3.4 percent next year, the International Monetary Fund said Tuesday, citing Nigeria's recovering oil and agricultural sectors. The IMF said in its latest World Economic Outlook report that the region would grow by 2.6 percent this year after 1.4 percent in 2016. "Growth is expected to rise gradually," it said, while noting that the rate would be uneven and "barely above population growth". GDP in the west African powerhouse Nigeria contracted by 1.6 percent in 2016, but is predicted to grow by 0.8 percent this year and 1.9 percent next year. The IMF said Nigeria was benefitting from "recovering oil production and ongoing strength in the agricultural sector", but the...
(APA 10/05/17)
APA-Tunis (Tunisia)- Les Rencontres Africa - Tunis 2017 opened Thursday in the Tunisian capital on the theme: "Solidarity, Sustainable and Beneficial Cooperation between Africa and France", APA's special correspondent reports from the venue. Opening the forum, in the presence of his counterparts from Burkina Faso and France, the head of the Tunisian government, Yousef Chahed, stressed the responsibility of African business leaders in the development of the continent, at a time when the world, particularly Africa, needs “much more solidarity...
(APA 10/05/17)
APA-Rabat (Morocco) - Tunisia's Lilia Hachem Naas has been named as the new Director of the North African branch of the United Nations’ Economic Commission for Africa. The appointment of Ms. Hachem Naas who boasts of a 20-year career with the United Nations came into effect on 2 October. Prior to joining the United Nations Economic Commission for Africa (UNECA), she was head of the Arab countries' bureau at the International Trade Center (ITC) in Geneva since 2013. During her tenure, she managed to strengthen the strategic position of the organization in Arab countries by significantly expanding the portfolio of projects...
(Reuters (Eng) 10/05/17)
NAIROBI (Reuters) - Hilton Worldwide Holdings Inc. (HLT.N) plans to spend $50 million over the next five years to add 100 hotels to its chain in Africa, it said on Thursday, joining other chains keen to tap growing business and international travel on the continent. One property will open in the Kenyan capital Nairobi by the end of this year and another in the Rwandan capital Kigali in 2018, it said in a statement. There was 11 percent growth in...
(AFP (eng) 09/29/17)
Government shutdowns of the internet have cost sub-Saharan Africa about $237 million since 2015, according to a study released Friday, as authorities increasingly implement planned disruptions. At least 12 countries have had internet shutdowns, often before elections or when protests erupt, with mobile internet networks most recently suspended in Togo during opposition demonstrations. "Internet disruptions, however short-lived, undermine economic growth, disrupt the delivery of critical services, erode business confidence, and raise a country’s risk profile," the CIPESA report said. The Collaboration on International ICT Policy for East and Southern Africa (CIPESA) released its...
(Bloomberg 09/27/17)
Studio 189, a label founded by actress Rosario Dawson and fashion executive Abrima Erwiah, is reinvesting in its African roots. It’s hard enough to build a fashion brand, let alone an empire. Rare is the person who makes a mission of using fashion to build communities. Such is the case with Studio 189, a label founded by longtime friends Abrima Erwiah (formerly a marketing executive at Bottega Veneta) and Rosario Dawson (an enduring star most recently seen in Netflix’s Marvel...
(Reuters (Eng) 09/26/17)
Israel’s Elbit Systems Ltd said on Tuesday it won a contract worth $240 million to provide a wide array of defense electronic systems to an unnamed country in Africa. The contract, which will be carried out over a two-year period, is comprised of Directed Infra-red Counter Measure (DIRCM) systems to protect aircraft from shoulder fired missiles, based on passive infrared systems, and includes missile warning systems, radio and communication systems, land systems, mini-unmanned air systems and helicopters upgrade.
(Voice of America 09/25/17)
African first ladies and activists hailed progress that some governments on the continent are making on gender equality. They met on the sidelines of the United Nations General Assembly in New York. “We used to have 23 percent female representation in parliament but, with the stroke of a pen it went up to 48 percent. So, we managed to double our female representation with that decision,” said Namibia’s first lady Monica Geingos at a roundtable invitation-only event co-hosted by the...
(Reuters (Eng) 09/20/17)
TUNIS (Reuters) - Tunisia plans cut its budget deficit to 4.9 percent of gross domestic product in 2018, down from about 6 percent expected in 2017, as fiscal reforms take effect, the economic reforms’ minister said on Wednesday. The North African country is under pressure from the International Monetary Fund and its partners to speed up reforms to create jobs and cut its deficit after its vital tourism sector was hit by deadly militant attacks in 2015. “Next year’s budget...
(Xinhuanet 09/19/17)
Tunisia's debt rate has reached 66.9 percent of GDP by the end of July this year, a six percent increase compared with the rate of 60.9 percent in June last year, Tunisian Ministry of Finance said on Monday. According to the latest figures, Tunisia's external debt represents more than two thirds of the total public debt of the country. The external debt reached 43.8 billion dinars (18 billion U.S. dollars) in July this year, representing an increase from the 34.4...
(The Guardian 09/18/17)
Anna Jones says that, through selling its cocoa cheaply, Africa is exporting its wealth overseas; while Sue Banford claims that the soya moratorium in the Amazon has done nothing to halt deforestation. Only the final paragraph in your article on cocoa farming causing deforestation in Ivory Coast (Forests pay price for world’s taste for cocoa, 14 September) mentioned the most fundamental thing – the farmer’s livelihood, or lack of it. The low value of his (or more likely her) crop...
(Bloomberg 09/15/17)
Societe Generale SA, challenged on its home turf by Orange SA’s push into banking, is fighting back with a new mobile lender in Africa. The French lender started YUP, a new app for smartphones, in Senegal and Ivory Coast and plans to begin operating in four other sub-Saharan countries this year and next, the company said on Thursday. The bank aims to double its client base to 2 million in the region within three years. “Telcos have opened the way...
(Xinhuanet 09/08/17)
The inflation rate of household consumption in Tunisia grew to 5.7 percent in August, up slightly from 5.6 percent in July, the National Institute of Statistics (NIS) of Tunisia announced Thursday. "Since 2015, this rate remains a record despite ups and downs registered during last year," NIS said. According to the NIS, the upward trend in inflation is due to a remarkable rise in food and beverage prices, which stood at 5.2 percent in August, against 3.6 percent a month...
(The Guardian 09/07/17)
Developer TuNur has applied to build a 4.5GW plant in the Sahara and pipe enough electricity via submarine cables to power two million European homes. An enormous solar park in the Sahara could soon be exporting electricity to Europe if Tunisia’s government approves an energy company’s request to build it. The 4.5GW mega-project planned by TuNur would pipe electricity to Malta, Italy and France using submarine cables in the grandest energy export project since the abandoned Desertec initiative. Kevin Sara, TuNur’s chief executive said: “If European governments take the Paris accord seriously...
(Bloomberg 09/07/17)
African Rainbow Minerals Ltd., the miner chaired by South Africa’s richest black businessman, will pay a record dividend this year as rising iron-ore and manganese prices boosted earnings at its ferrous unit. ARM will pay investors 6.50 rand a share, almost triple that of the previous year, and its 11th consecutive dividend, the Johannesburg-based company said in a statement Thursday. The company benefited from a 45 percent increase in prices received for exported iron ore and 93 percent more for...
(Xinhuanet 09/05/17)
Delegates from African countries are hoping to attract more Chinese investment at the ongoing 11th China-Northeast Asia Expo in Changchun, capital of northeastern Jilin Province. Representatives from Ethiopia, Kenya, Zambia and Mozambique presented a variety of collaborative projects at the expo, ranging from grain and dairy processing, light manufacturing, to machinery and construction, in the hope of finding Chinese counterparts to invest in their countries. Ethiopia has set up a one-stop service system to simplify the approval process for business...
(Bloomberg 09/05/17)
A surge in agriculture has helped lift Africa’s biggest economies out of their slumps, but the recovery may be weak. Gross domestic product in Nigeria, the continent’s largest crude producer, advanced for the first time in six quarters in the three months ended June from a year earlier, growing 0.55 percent, the statistics agency said. In South Africa, GDP expanded 2.5 percent from the previous quarter, ending the second recession in almost a decade. Both economies had agriculture largely to...
(Xinhuanet 09/04/17)
China's Belt and Road Initiative will help Tunisian economy to revive after six years of slowdown, former Tunisian Ambassador to China Mohamed Sahbi Basly told Xinhua in a recent interview. Basly, now the president of China-Tunisia Cooperation Council, hailed the initiative as "a perfect supportive approach for economic development." He said China has been "a significant investment partner" for Tunisia that "has the potential to contribute to the development of the Tunisian economy." "China has become a global economic locomotive...
(Bloomberg 09/04/17)
The worst may be over for Africa’s two largest economies as they likely emerged from a slump in the second quarter. Official data on Tuesday will probably show South Africa’s economy expanded in the three months through June, ending its second recession in less than a decade. Nigeria’s gross domestic product probably grew from a year earlier, and came out of its worst slump in a quarter of a century. South Africa and Nigeria together account for almost half of...

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