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  • The Pan-African Economy in Brief: Wednesday, April 26, 2017

The Pan-African Economy in Brief: Wednesday, April 26, 2017

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IVORY COAST:
Abidjan hosts on Friday the 8th edition of the "African Economy Builders": ""The 8th edition of the "Africa Economy Builders Awards" will be held in the Ivorian economic capital Abidjan next Friday under the theme "The Youth, the Major Challenge of Economic and Social Transformation"," announced the Promoter of the event Michel Russel Lohoré at APA on Monday. The theme of this edition, under the patronage of the Ivorian Prime Minister Amadou Gon Coulibaly, will be divided into two panels. The first panel will focus on "the challenges of entrepreneurship and the digital revolution"..."

Randgold Resources wants to prolong the lifetime of the Tongon mine: "The mining company Randgold Resources envisages extending the lifetime of its Tongon gold mine in Ivory Coast beyond the current four-year horizon. The information was announced by the CEO Mark Bristow who states that an ongoing review of its Nielle license, which hosts the Tongon project, has confirmed numerous possibilities for extending the lifetime..."


NIGER:
The Dosso region relies on the irrigated crops to contribute to the food self-sufficiency: ""The Dosso region has enormous potential in the irrigable lands capable of contributing to the food self-sufficiency," according to the Regional Manager of the Rural Engineering. At the turn of a meeting on the subject, Arachi Dille cites managed ponds, the artificial watercourses, the valley of the river Niger and the dallols as potentialities of the region. For Mr. Dillé, the regional management, benefiting from a financing of more than 6 billion CFAF from the State and its partners, has set up 1252 Hectare in small irrigation, 158.5 Hectare for the large irrigation then 92 Hectare of former hydro-agricultural developments..."


NIGERIA:
The State of Lagos repurchases local bonds to the tune of 183 million Dollar: ""The Lagos State government has disbursed 57.5 billion naira (183 million Dollar) to repurchase bonds issued in local currency in 2010," reports Reuters, citing the State Commissioner at the Ministry of Finance Akinwunmi Ashade. According to the official, the repurchasing of these bonds falls within the scope of the State's objective to finance the development of infrastructure. In addition, Ashade noted that the state of Lagos has saved more than 103 billion naira via the repurchasing of bonds that matured in 2019, 2020 and 2023. Last year, the State had already bought back bonds worth 167.5 billion naira..."

Nigeria will collaborate with the World Bank and other partners to develop the energy sector: "The Nigerian Minister of Finance Kemi Adeosun announced that the Nigerian government has partnered with the World Bank and several development partners with the view of boosting their investment in key projects, particularly in the energy sector. The announcement was reported by Channels TV on April 24th. Speaking at the end of the spring meetings of the World Bank and the International Monetary Fund (IMF), the minister said: "If there is one thing that can stimulate Nigeria's growth, it is energy. If we were to choose a single sector, it would be that of energy because of its potential in terms of job creation and wealth, and the opportunities it contains." He also indicated that the projects targeted under the new agreement are included in the country's economic recovery plan whose bases have already been established..."

The digital economy can generate 88 billion Dollar within 10 years: "In Nigeria, the digital economy can generate 88 billion Dollar and create more than 3 million jobs over the next 10 years. This projection was revealed on April 25th during a meeting held in Geneva and bringing together several ministers from emerging countries. The purpose of the meeting was enabling these countries to catch up with digital technologies and develop practical solutions for sustainable development..."


Tanzania:
The rate of household access to the electricity was 33% in 2016 (report): "In 2016, the access rate of Tanzanian households to the electricity was 32.8%. This is one of the main conclusions of the report "Energy Access Situation Report, 2016 Tanzania Mainland" and jointly published by the Rural Energy Agency (REA) and the Tanzania Office of Statistics (NBS). According to the study which takes into account the 26 regions of mainland Tanzania (excluding Zanzibar), some 3,753,615 households had access to the electricity last year out of a total of 11,454,818. Regarding the distribution of households, the report indicates that 65.3% of electrified households are located in urban areas compared to only 16.9% in rural areas..."


ANGOLA:
The Chinese DEC sign a 246 million Dollar contract to install hybrid power plants: "The Chinese company Dongfang Electric Corporation has just signed a contract to build and manage 7 hybrid power stations in Angola. Under the terms of the 246 million Dollar agreement, the group will install thermal power stations in various provinces of the country. These plants will produce 3MW thanks to diesel and 2MW thanks to solar. In addition to these hybrid plants, DEC will be responsible for the delivery, installation, management and maintenance of three diesel power stations with a capacity of 20 MW each. These infrastructures will be set up in the cities of Moçâmedes (Province of Namibe), Luena (Moxico Province) and Menongue (Kuando Kubango).


Mozambique:
Syrah and Grindrod enter into an agreement to provide services: "Syrah Resources has hired the listed company in Johannesburg Grindrod Mauritius to provide logistics and distribution services to its graphite mine Balama, Mozambique. The two companies signed a contract for trucking services (long and short distance) to transport the graphite from the Balama site to the port of Nacala. Grindrod will also set up a storage center about 4.7 km from the port, as well as other export-related services, including customs clearance..."


BURKINA FASO:
Burkina Faso has begun works on the construction of a metropolitan optical fiber loop in each regional capital: "The Minister of Development of the Digital Economy and Posts Hadja Fatimata Ouattara Sanon has launched the construction of a metropolitan optical fiber loop in each Burkina Faso regional capital. The 13 projects under construction are part of the project "Government-Cloud" (G-Cloud), the digital infrastructure designed by the State to improve the provision of quality services to citizens and their access to public services. It is valued at nearly 36 million Euro (23.6 billion CFAF)..."

 

 

Crédit : IMPERIUM MEDIA

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