BURKINA FASO:
IFC wants to increase investment portfolio to 800 million Dollars: "The Regional Representative of the IFC, Ronke Ogunsulire, met with Burkina Faso media professionals on Thursday, June 8, 2017, during a press breakfast on the IFC's actions in Burkina Faso. Present in Burkina Faso since 1975, IFC's portfolio is approximately 100 million Dollars invested in sectors such as financial services, real estate, mining, agribusiness, energy, and distribution."
Société Générale inaugurates WELIBANK, the 1st Digital Agency of Burkina Faso: «Société Générale Burkina Faso innovates to better serve its customers. It proceeded, in Ouagadougou, on Wednesday, June 7, 2017, the inauguration of the first national banking agency of the country, in the presence of the Managing Director of the treasury, Nabi Abraham Ouattara. Called WELIBANK, this innovation adds to the long list of initiatives undertaken by the bank these last years to get closer to Burkina Faso..."
MADAGASCAR:
The early harvest of the green vanilla by the producers degrades the quality of the pod: ""In Madagascar, the premature harvest of the Green Vanilla performed by the Malagasy producers of Sambava, one of the main zones of production of the pod to the northeast of the big island, harms the quality of the pods," reports Reuters. In fact, the quality of vanilla being directly related to its maturity, the early picking leads to the reduction of the percentage of vanillin, the molecule responsible for aromatic power. Normally included between 1.6 and 1.8% of vanillin could thus fall to only 1% according to Georges Geeraerts, number one of the Group of Exporters of Vanilla of Madagascar (GEVM). In doing so, the Leader, obtaining one kilogram (kg) of prepared vanilla should require 7 to 8 kg of green vanilla, against 4 to 5 kg in normal conditions. To explain this practice, many actors promote the development of flight of the pod in plantations..."
ZAMBIA:
Zambia Sugar recorded a 47% increase in its refined sugar production during its fiscal year 2016/2017: ""At the end of its 2016/2017 financial year, closed on last March 31, Zambia Sugar, South African subsidiary Illovo Sugar announced a production of 65,000 tons, that is a progression of 47% compared to last year (44,000 tons)," indicates Reuters. According to the company, this performance is mainly due to the improvement of its production capacity thanks in particular to the installation of a new refinery in the zone of Nakambala for an investment of 80 million Dollars. "This operation undeniably improved the company's positioning in the perspective of a future growth. It consolidates the group's development-oriented strategy on domestic and regional markets," said Rabecca Katowa, the Managing Director of the company..."
NIGERIA:
Electricity: The Nigerian Government reimburses in part the GENCOS: "In Nigeria, ten electricity generating companies or GENCOS received 12 billion nairas ($37 million) from the Nigerian Bulk Electricity Trader (NBET). According to one of the NBET Managers who made this announcement, this amount comes from the intervention fund, valued at 701 billion nairas ($2.2 billion), approved by the Federal Executive Government (FEC) to ensure a stable supply of electricity in the country. "The Federal Government's intervention fund is a short-term loan granted to the NBET, to enable it to meet its commitments with GENCOS for the monthly supply of electricity so that they pay their gas suppliers and their operating costs," said Henrietta Ighomroro, Communication Officer of NBET..."
Shell relaunched its activities at the Forcados terminal: "The Anglo-Dutch company Royal Dutch Shell has lifted the restrictions previously imposed on petroleum exports from the Forcados terminal. Thereby, the country revives its exports of black gold to full volume for 16 months. In fact, the terminal which is exported between 200,000 and 240,000 oil barrels per day was closed in February 2016 after the pipeline that was connected to it suffered militant attacks. With the takeover of the activities of the terminal Forcados, the country will reach a production of 1.8 million barrels per day, level targeted by the executive before the OPEC decides to reduce global production..."
CAMEROON:
The project of a floating factory of natural gas of Kribi realized at 97%: "The National Hydrocarbons Corporation (SNH) gathered for its first ordinary session of the Year, in Yaoundé, on June 6, 2017, announced the good progress of the project "Floating Liquefied Natural Gas" (Flng). The purpose of the unit is to install and operate a floating natural gas liquefaction plant at Kribi. As of April 30, the conversion work of the Hilli Episeyo Ship in floating factory was carried out at about 97%," said Adolphe Moudiki, the Managing Director of SNH. "Otherwise," added Mr. Moudiki, "the extension of the Bipaga Gas Treatment Center, which will accommodate some floating plant project facilities, is realized at 91%..."
GHANA:
Asanko Gold wants to increase annual production from its Asanko Mine that will go to 450,000 ounces: "Asanko Gold Mining Company released the Definitive Feasibility Study (DFS) of a project aimed at increasing the annual production of its Asanko Gold Mine in Ghana to 450,000 ounces. The expansion will be in two phases and the company has precisely having already launched the first. According to the DFS, this first step will focus on the upgrading of the mine processing plant and the development of the Esaase Deposit into two distinct modules. The goal is to increase the plant's annual processing capacity from 40% to 5 million tons for a 230,000 oz. Gold production, over a 20-year lifetime. The global cost will be $968/oz. The upgrading of the plant should cost $22 million and the development of the Esaase Near-Field $120 million. The first results are expected before the end of the year. The first phase will generate annually cash flows before taxes of $80 million. The Internal Rate of Return (IRR) after Taxes is estimated at 13% and the current Net Asset Value (NPV) at $658 million based on a gold price of $1,250/oz ..."
Crédit : IMPERIUM MEDIA
