SENEGAL:
Oil and Gas: CN-EITI wants to be inspired by best practices: "The National Committee for the Extractive Industries Transparency Initiative (CN-EITI) wants to draw on best practices in legislative, regulatory and institutional Said on Wednesday his acting Permanent Secretary, Mr. Papa Alioune Badara Paye. This latter said the goal is to allow Senegal to benefit from mining, oil and gas resources. "It is early to be able to identify all the benefits that can benefit our country. However, there are technical services that are already working on possible scenarios. Because, both in the gas projects north of Saint-Louis and oil in Sangomar, we have not yet made a final investment decision, "said Mr. Paye. He was speaking at Saly-Portudal (Mbour, west) where he chaired the start of a training seminar for CN-EITI members on oil and gas governance in Senegal. According to him, the Oil and Gas Strategic Orientation Committee "works to see how benefits can be improved for the population, particularly in the subcontracting and service delivery sector, because Experiencing significant development ". The seminar, supported by Great Britain, is part of the capacity building component of the EITI Strategic Plan for the period 2017-2021. Emphasis will be placed on the challenges of managing and sharing oil and gas revenues, transparency promotion mechanisms, local content, management of stabilization and savings funds, and the fund for future generations, ...etc. The national committee intends to work towards an optimum governance and to accompany the State of Senegal in its ambition to manage these resources "in a transparent and rigorous way", he said. The aim is to enable citizens to be accountable for the evolution of the results of the management of mining, oil and gas operations throughout the Senegalese territory, Paid. With this two-day training, CN-EIT members will be equipped with the necessary tools to understand and analyze the issues related to the oil and gas industry and to imbibe best practices in the governance of the oil and gas sector. Hydrocarbons '' ...... ''
The insurance industry in Senegal has a turnover of nearly 140 billion CFA in 2016: "Senegal-Assurances APA-Dakar (Senegal): The insurance industry in Senegal has broken a new record by achieving a turnover of all branches of CFAF 139.898 billion (about 223.836 million Dollar) at the end of 2016 , APA learned on Thursday from the Senegalese Federation of Insurance Companies (FSSA). Compared to its 2015 level of 119.781 billion CFA, this turnover increased by a 16.79% (1 CFA equals 0.0016 Dollars). According to FSSA data, this increase can be explained by "the cumulative growth in life insurance sales (plus a 32.3%) and accident insurance (plus a 9%). Incomes for damage insurance amounted to CFAF 94.553 billion, compared with CFAF 86.371 billion in 2015. As for the life insurance sector, its turnover will increase from 34.273 billion CFA in 2015 to 45.345 billion CFA a year later. The insurance market in Senegal had as of the 31st of December 2016, 18 insurance companies and 8 life insurance ones ..... "
IVORY COAST :
Agribusiness: Two companies file a complaint against the Ivorian state: "The companies Monhévéa.com and Agromix of Christophe Yapi have filed a complaint against the State of Ivory Coast in the framework of the litigation on agribusiness. The information comes from a letter of defense of these companies signed by Paulin Esmel Beraudy, lawyer in Toulon (France). He sent the mail to the subscribers. The mail dated the 20th of March and available on the Agronomix website is addressed to subscribers. "The State of Ivory Coast, which is at the origin of the freezing of assets, is trying to evade the litigation to let the banks face us. That is why we decided to bring this case before the Ivorian courts. The referral of the Ivorian Justice is committed on March 20, 2017 in order to secure your investments and preserve your interests, "argues EsmeI Beraudy. He says he does not understand why subscribers are no longer paid by the Treasury but by the banks. This process, he said, is nonetheless illegal and proves that the State of Ivory Coast which is at the origin of the freezing of assets, tries to evade the dispute to deliver the banks to the subscribers. It is this act which, he revealed, motivated the plain in court. The defense of Monhévéa.com and Agromix asked the judges to prohibit the banks from divesting the funds of the companies in their custody, to order the thawing of accounts under penalty of 15 million CFA (22800 Euro) per day of delay. Not without condemning each of the 16 banks to pay a sum of 20 billion FCFA (30.4 million euros) in compensation for the damage caused to the subscribers of the two companies mentioned above. "We appreciate your concerns and the inconvenience caused by the delay in paying your" Rsi "Returns," he says. He promises a speedy resolution of this dispute. Mr. Esmel Beraud recalled that during his first trip to Abidjan, from the 17th to the 27th of February 2017, he addressed a formal notice to the 16 banks that hold the funds of Monhévéa.com and Agromix. "It turned out that the Ivorian authorities as well as the banks have changed positions where the Treasury will no longer pay subscribers but banks ..."
Extension of the Yamoussoukro-Tiébissou motorway, 37 km to bitumer over two years: "On Thursday, the 30th of March 2017 - Announced for a while, the launch of the extension of the 37-km Yamoussoukro-Tiébissou highway is now in effect. The official opening ceremony, which is expected to last two years, took place yesterday in Yamoussoukro by Prime Minister Gon Coulibaly. Financed to the tune of 92.637 billion CFA respectively by the Islamic Development Bank, IDB, with 77.403 billion CFA and the State of Côte d'Ivoire with 15.234 billion CFA, this extension is a part of the Yamoussoukro-Ouagadougou (Burkina Faso) project. The Prime Minister Gon Coulibaly Seeking Gon Coulibaly for whom this highway should change the landscape of the region and allow the population to "continue to take an increasingly active part in the march of our country towards the Emergence" Announcing the launch of a vast program of studies in all regions of the country, covering the development and tanning of 2,200 km of inter-urban roads, 117 civil engineering works and 400 hydraulic works ... "
CAMEROON :
Resignation of the Governor of the Bank of Ghana: "The Governor of the Bank of Ghana (BoG), Dr. Abdul Nashiru Issahaku, has resigned his post, learned APA in Accra on Thursday. The resignation of Dr. Issahaku whose reasons are not yet shall take effect in the 1st of April 2017. Dr. Issahaku was appointed Governor of the BoG by former President John Dramani Mahama in April 2016 after the resignation of his predecessor, Dr. Henry Wampah. This is the second time in a year that a governor of the central bank makes the apron. Prior to his appointment as governor of the BoG, Dr. Issahaku was the second deputy governor of the APEX bank. In the aftermath of a change of regime in the last elections, some Ghanaian political experts had predicted his departure from the head of the financial institution. The Ghanaian currency, the Cedi continued to depreciate against foreign currencies under Dr Issahaku. Dr. Issahaku is an international development economist with several years of experience in the design and implementation of economic policies. He has worked for international institutions such as the World Bank, the African Development Bank, AfDB, the United Nations Economic Commission for Africa (UNECA) and the Canadian International Development Agency (CIDA).... "
85 billion CFA from AFD and the European Investment Bank for water supply in Cameroon: "The French Development Agency and the EIB have granted 85 billion CFA to Cameroon , For the construction and rehabilitation of drinking water supply infrastructure in several localities of the country, said Wednesday to the Ministry of Water and Energy. With 59 billion CFA for AFD and 26 billion CFA for the EIB, Cameroon can look forward to the expansion of the water network in Yaoundé and three secondary cities, Bertoua, Edéa and Ngaoundéré. According to the Cameroon water utilities corporation (CAMWATER), a public company responsible for investment in the water sector, these funds will allow the rehabilitation of the Mefou wastewater treatment plant and the Messa dam in view To increase the quantity of water available to the capital by 50,000 m3 per day and to review the drinking water supply system in the cities of Bertoua, Edéa and Ngaoundéré. According to sources close to the Cameroonian waters (CDE) subsidiary of the Moroccan group ONEP, only a 26% of the urban population of Cameroon have access to drinking water in their home. The others must, more often than not, go and refuel themselves in private drilling, marigots and wells, especially since public fountains have practically disappeared ... "
MALI :
Deferral of the Consideration of the Constitutional Amendment Bill: "Consideration of the draft constitutional amendment bill tabled at the National Assembly by the Government following an extraordinary council of ministers held on Friday, the 10th of March was referred to the April session of parliament, APA said. The announcement was made at the plenary convened on Thursday morning to discuss the draft law. The assembly "decided to refer the draft law revising the constitution to the April session for further information. ", It is said. MEPs then gave themselves more time to identify all the outlines of a constitutional revision project for which the President of the Republic, Ibrahim Boubacar Keita, had convened an extraordinary session of the Assembly in the 10th of March. The Malian government had justified its determination to revise the constitution with a view to "rectifying shortcomings and shortcomings" of the 1992 constitution. The other reason invoked by the Government was related to the crisis situation in the country : "The security and institutional crisis has revealed the fragility of the institutions. ", Notes one. But this constitutional revision is not to the taste of everybody. The opposition and lawyers have many reservations about the draft constitutional amendment. The draft text is the subject of much debate in intellectual circles and within Malian civil society. The draft bill includes the creation of a Senate and a Court of Auditors. There is no change in the length and number of presidential terms. In Mali this mandate is 5 years renewable, once .... »
Financial support for disadvantaged groups: APEJ puts 1.3 billion in the kitty: "The First Lady, KEITA Aminata MAIGA, presided over the opening ceremony of four (4) lines of credit for the benefit of young widows of fallen soldiers On the front, young merchants retailers, including those of MalitelDa, and young people of the diaspora, on Tuesday, the 21st of March 2017, in the place of arms of the Military Engineering. For the occasion, the wife of the Head of State was surrounded by five (5) members of the Modibo KEITA Government, namely: MM. Mahamane BABY (Employment and Vocational Training), Hamadou KONATE (Solidarity and Humanitarian Action), Abdel Karim KONATE (Trade), Abdourhamane SYLLA (Malians from the outside and Diaspora) and Amadou KOITA (Youth and Citizen Construction). The Minister of Defense and Veterans Affairs (Abdoulaye Idrissa MAIGA) was represented by his Chief of Staff, Colonel Major Mamadou DIAW, who thanked, on behalf of his Minister and all the armed forces and Security, the Government and the highest authorities of the country, for this gesture of solidarity acting in favor of the widows and orphans of the military camps. In addition to these widows and orphans, it is also necessary to be among the Malians of the Diaspora and the traders who have agreed to release the public roads, including those of MalitelDa, to be eligible for this fund in the amount of 1.3 billion CFA, said the General Manager of APEJ, Mr. Amadou CISSE, after explaining the conditions for granting and repaying these loans. "These loans will be spread over a period of 12 to 18 months, depending on the nature of the sector of activity, such as trade, agriculture, crafts, livestock and fisheries," added Minister Mahamane BABY , Indicating that the fund will "be domiciled in the accounts of the partner microfinance institutions in the form of a credit line to finance the start-up and / or revival of the economic activities of the various beneficiary groups". By putting in place these lines of credit, "the Ministry of Employment and Vocational Training aims, through the Agency for the Promotion of Youth Employment (APEJ), to integrate young people into the fabric Economic, by financing income-generating activities, "argued Minister BABY, stressing that this initiative is in direct line with the vision of His Excellency Ibrahim Boubacar KEITA, the President of the Republic, the Head of State, In promoting employment. "The opening of these lines of credit is the culmination of a long process of reflection and social dialogue between the various stakeholders", in this case the Agency for the Promotion of Youth Employment, Of the Armed Forces Social Service, the grouping of young women widows of the camps, the grouping of retail traders, the young people of the diaspora and the microcredit institutions, he said, before urging the future beneficiaries " Arm with a lot of courage to run their business and be persistent in the repayment of loans, in order to allow other young women and women to benefit from this revolving fund ... .. "
BURKINA FASO :
The Mouhoun river is dying: "Man is the first and main enemy of nature. This is the sad fact that we did during a visit to one of the most important parts of the river, the Mouhoun. In its part towards the village of Sanakuy in Banwa province, the facts speak for themselves. We went for a walk on Friday, the 24 th of March 2017. At this point of the Mouhoun river, one had the impression that the water was crying out for help. And for a good reason, the cover of shrubs and trees that protect it from the rays of the sun are destroyed by sawyers within 20 meters of the bed of the river. Not to mention the trees cleared for fields in the nose of the bed. This causes accelerated evaporation of the waters of the river during these times of heat. This is why there are pockets of soil in places along the river. So who ordered the serial killing of these centenary trees, protectors of this river? According to some sources, recent cauldron killings have been carried out by individuals with the agreement of the environmental authorities and the complicity of local village officials. If we are not careful, the Mouhoun, the only perennial river in our country, is in danger of disappearing before our eyes by the complicity and silence of all, if such acts continue. This bitter observation is only at one place on the river. What then is the damage all along? Where do we want to go with the daily speeches on environmental protection, if the little that remains is sacrificed on the altar of the selfish interests of malicious individuals? .... "
The AfDB will release 3.3 billion CFA in support of the cashew sector: "The African Development Bank will release an envelope consisting of a loan and a grant, totaling about 3.3 billion CFA, to finance the Project to support development of cashew in the Comoé Basin and to reduce emissions from deforestation and forest degradation (PADA / REDD +). The financing agreement was signed last Friday by Antoinette Batumubwira, the AfDB's resident representative in Burkina Faso, and Hadizatou Rosine Coulibaly, the Burkinabe Minister of Finance. The five-year project mainly aims at contributing to the reduction of rural poverty, reducing greenhouse gas emissions by building on the carbon storage capacity of the cashew tree. It concerns the Cascades, Hauts-Bassins and South-Western regions of Burkina Faso, located in the Comoé basin. Its total cost is about 6.4 billion CFA. In fact, the AfDB is not its first support for the cashew nut sector in Burkina Faso. The financial institution had already approved, in February, a loan and a donation of a total of 5.4 million Dollar under PADA / REDD + ... .. "
MALAWI:
The Nkula A and B electric dams will be stopped on Easter for maintenance: "The Malawites will experience additional shedding during the two days preceding Easter this year. Electricity Generation Company Malawi Limited (Egenco), the company in charge of energy supply in the country, plans to stop the Nkula A (24 MW) and Nkula B (100 MW) hydroelectric power plants from the 13th to the 15th of April for maintenance. Work that will reduce by one third the energy production of the country which currently stands at 360 MW. "After stopping, the tank will be emptied to allow work to be done in the tunnel. The electricity stations will be put back into service on the evening of the 15th of April, "said William Liabunya, Executive Director of Egenco, who explained that these dates were chosen because many companies will be shut down, Will mitigate the impact of the work on domestic consumers. Malawi, which is largely dependent on its hydroelectric resources, has recently experienced a decline in water levels in its reservoirs due to weather conditions ... "
TANZANIA :
The State is ordering an audit to determine whether the mining companies are fiscally in good standing: "In Tanzania, President John Magufuli ordered a special investigation to verify whether the mining companies operating in the country are performing" as they should " Their taxes. The decision comes a few weeks after the government banned the export of raw minerals to compel companies to process locally. "The government wants to check whether the applicable taxes are actually paid," Prime Minister Kassim Majaliwa said. The president also ordered hundreds of export containers to be placed under 24-hour police surveillance until a thorough inspection determines if they were properly reported. All these decisions are part of the promises made by the Tanzanian President when he came to power in November 2015. He said he wanted to eradicate tax evasion, corruption and mismanagement. The mining sector contributes a 3.5% to the gross domestic product of Tanzania ... .. "
KENYA:
The EIB is allocating 122 million Dollar to double the capacity of the Olkaria I geothermal power plant: "The European Investment Bank (EIB) has granted Kenya a 122 million Dollar loan to increase the capacity of the geothermal power plant Of Olkaria I, which will see its power increase from 70 to 140 MW. The institution announced in a statement that these funds will be used to finance well drilling, steam collector systems and plant interconnection facilities. The extension of this plant is part of the ambition of the country which intends to develop 530 MW of geothermal power plants by 2030. Its geothermal park today has a size of 636 MW, making it the world's 7th largest producer of this type of energy. The EIB is not its first financial support to Kenya's energy sector. The bank has contributed to the financing of the Lake Turkana wind power plant and the Last Mile Connectivity project which aims to connect 1.5 million people to the electricity grid by 2020 .... "
SOUTH AFRICA :
The government gives its green light to the development of shale gas in the region of KarooL: "Thursday, the South African Minister of Mineral Resources, Mosebenzi Zwane, announced that the government has just authorized the start of work Development of shale gas in the semi-desert region of Karoo, in the south of the country. The announcement was made at a meeting on the development of shale gas in the country, held in Richmond, North Cape. It also puts an end to one year of waiting for the launch of the project. By 2016, Pretoria had announced that work would begin this year; Which had raised a lot of hope in this region where the project is expected to reduce the unemployment rate somewhat, says AFP. "On the basis of available scientific evidence, the government has decided to proceed with the development of shale gas in the Karoo region," he said. According to preliminary studies, up to 50 trillion cubic feet of recoverable shale gas could be recovered in the Karoo basin, particularly in the eastern, northern and western provinces of Cape Town. Such shale gas development is expected to play a key role in South Africa's energy mix, as the country is heavily dependent on coal and is considering alternative sources of energy. It should be emphasized that the government also authorized the fracking technique in the execution of the work. This technique is controversial and may have, according to experts, undesirable effects on the water reserves of a country since it consists of a cracking of the rocks by means of a massive injection of liquids under pressure. Speaking on the issue, the minister explained that the government is aware of the risks to the environment, but assured that the exploration and exploitation of the material will be done "safely", pending the adoption of the new Governing the mining and petroleum sectors. "A socio-economic and environmental assessment was conducted throughout the site. It enabled us to collect the information needed to make informed decisions about the development of shale gas, "he said. It should be emphasized that South Africa lacks an appropriate legislative framework to guide the development of shale gas. The official also said that the new text will accelerate the development of shale gas in the country. South Africa would have, according to the US Energy Administration, 390 trillion technically recoverable cubic feet of shale gas....”
NIGERIA:
500 million Dollar thanks to the issuance of a new eurobond: "On March 29, Nigeria raised 500 million Dollar by issuing a Eurobond with a maturity of 15 years at a rate of a 7.5 %, Announced Finance Minister Kemi Adeosun (photo, left). "The funds mobilized with this new loan, which follows the oversubscribed issue of a billion dollar eurobond in February, will be used to finance the infrastructure development work described in last year's budget. "Said Ms. Adeosun. The Nigerian government plans to increase public investment by a 20% this year to 7.3 trillion naira (24 billion Dollar) to boost the national economy, which plunged into recession over the past year, following the Fall in crude prices. According to data from the International Monetary Fund (IMF), the country's GDP, which derives a 70% of its income and about a 90% of its foreign exchange earnings from oil exports, contracted by a 1.7% last year . The projected increase in government spending is expected to generate a budget deficit of NZ 2,360 billion Dollar (7.7 billion Dollar). Nigeria is planning to issue diaspora bonds for a total of 300 million Dollar and is seeking a 1 billion Dollar loan from the World Bank as well as another 1.3 billion Dollar from China to fund railway projects. The continent's most populous country is also planning to issue 20 billion naira of green bonds next month. The 1 billion Dollar eurobond, issued in early February, by Nigeria to finance its budget deficit, was subscribed almost eight times. The backlog of these first euro-bonds issued by the most populous country in Africa since 2013 reached 7.7 billion Dollar, which reduced the borrowing rate of a maturity From 15 years to 7.875%, a level well below the expectations of investors ... .. "
Crédit : IMPERIUM MEDIA
