IVORY COAST:
120 million Dollars from the World Bank for the development of secondary cities: "The World Bank approved on June 2, for the benefit of the Ivorian state, a support estimated at 120 million Dollars," it was learned from a statement from the financial institution. The funds should be used to finance the infrastructure project for urban development and the competitiveness of secondary cities (PIDUCAS). Implemented to create an appropriate ecosystem in order to attract certain Ivorian cities, this project will start, according to the Ivorian authorities, by Bouaké and San Pedro, respectively, second and third most competitive agglomerations among the 14 district capitals of the country. "[...] a new model of solidarity-based development is needed through a network of more competitive secondary cities that can support investment, growth, and poverty reduction across the country. The development of these secondary economic centers is one of the priorities of the new national development plan adopted by the authorities for the period 2016-2020," explains Pierre Laporte, the Director of Operations of the World Bank of Ivory Coast..."
GHANA:
The Export Promotion Authority wants to impose a tax on exports of raw cashew nuts: "The Ghana Export Promotion Authority (GEPA) calls for the introduction of a tax on exports of raw cashew nuts in order to encourage local processing with higher added value. "We estimate that the export of raw nuts does not generate enough revenue. Moreover, the foreign currencies generated do not contribute to strengthen the cedi [currency of Ghana, Editor's note]," indicates Gifty Klenam, Managing Director of the institution at the Business & Financial Times. "In line with the government's roadmap for the export segment, we intend to discuss with the appropriate Ministry to overtax exports of nuts," she adds. If this measure were to be implemented, Ghana would join, in this logic, other producing countries such as Ivory Coast, Benin, and Mozambique. In doing so, this restriction should reduce export volumes and give a second breath to the actors of nut processing currently to the trouble like Usibras Ghana Ltd, the West African leader in cashew processing..."
ZIMBABWE:
Zimbabwe imposes a ban on imports in the perspective of a good harvest: ""In Zimbabwe, the executive has banned imports of maize to protect local producers in anticipation of a major harvest this year," Davis Mharapira, deputy minister of agriculture, told Reuters. Indeed, the country hopes to bring in 2.1 million tons of maize this year, four times the volume last year (511,000 tons) affected by El Niño-related drought, one of the country's worst weather episodes since 1992/93. This record crop should enable the country that consumes only 1.8 million tons of cereal to return to self-sufficiency this year, a first since the agrarian reform carried out in early 2000 by the Zimbabwean government..."
NIGERIA:
Forte Oil plans to raise 62 million Dollars to diversify its activities: "In Nigeria, the oil company Forte Oil, plans to raise 20 billion Nairas (62 million Dollars) on the NSE to diversify its activities. This was revealed by Julius Omodayo-Owotuga, executive director of the company. "We have begun preparations to raise additional funds and continue to explore new opportunities. Our last fundraiser was a great success. We were able to raise nine billion Nairas through a corporate bond. This transaction has provided us with enough cash to update our expansion plan and reposition the company for years to come," said the person in charge..."
MALI:
The underground exploitation of the Syama gold mine will begin at the end of 2018: "The mining company Resolute Mining plans to begin underground mining at its Syama gold mine in Mali. The announcement was made by Reuters, which relays the remarks of the CEO, John Welborn. "We will begin underground production by the end of 2018. The preparatory work for the construction of this mine has already begun," declares Welborn. Resolute undertook an underground expansion project at Syama, following the depletion in 2015 of the open pit reserves, which already had 2 million ounces of gold. The company has estimated at 3.1 million ounces the underground reserves of the project. Welborn has indicated that the underground mine will produce, until 2028, 250,000 ounces of gold per year, 50,000 oz more than open pit mining. The project would require an investment of 100 million Dollars..."
EIB injects 50 million Euros into Bamako's drinking water supply network: "The European Investment Bank (EIB) will release 50 million Euros to develop the drinking water supply and sanitation network in the city of Bamako, Mali. The announcement made by the institution via a statement issued on Thursday, June 8, by the institution. The financing agreement was signed in Brussels by Boubou Cissé, the Malian Minister of Economy and Finance, and Ambroise Fayolle, the Vice-President of the European Bank, on the sidelines of the 12th European Development Days. It is part of the water and sanitation sector program (Prosea) which aims, among other objectives, to double the capacity of the city's drinking water system, and to increase the capacity of 25,000 cubic meters of water tanks..."
SUDAN:
Orca Gold wants to raise 15 million Dollars to finance its block project 14: "The mining company Orca Gold is planning to raise 15 million Dollars through a brokerless private placement to advance the development of its block 14 gold project in Sudan. The Company will issue 37.5 million units (each consisting of one common share and one-half of a warrant) at a price of 0.4 Dollars per unit. The proceeds of the offering will be used to finance the ongoing feasibility study on the project, which is expected to be completed in the first quarter of 2018. As part of the study, Orca plans to drill 25,000 to 30,000 meters to increase the mineral resources of the Galat Sufar South and Wadi Dorum deposits. The feasibility study will also examine potential options for improving the project's processing capacity beyond 3.4 million tons/year..."
Crédit : IMPERIUM MEDIA
