ZIMBABWE:
The Government Plans to Raise 50 Million Dollars to Finance the Construction of Irrigation Infrastructure: ""The Zimbabwean executive plans to mobilize 50 million Dollars through the issuance of a 3-year bond to finance the construction of irrigation infrastructure," indicates Reuters, which mentions official documents. This measure is an integral part of the government's overall strategy aiming to improve the country's sustainable food security in the face of drought from 2015 to 2016. This climatic episode, whose country had not known any equivalent for more than 24 years, has reduced cereal production and plunged 3 million people into food insecurity situation, according to the United Nations Food and Agriculture Organization (FAO)..."
KENYA:
Drought Reduced Tea Exports by 36% in April: ""At the end of April, the volume of tea exported by Kenya was 26.75 million kilograms (kg), a decrease of 36% over last year," reports Businessdailyafrica. According to the Kenyan Board of Tea, this negative result is the consequence of the drop in production (-17%) linked to the hot and dry weather that prevailed in all the growing areas of the leaf, the most affected of which is the eastern part of the Rift Valley. In this area, the volume decreased by 36%, passing from 15.49 million Kg to 9.81 million Kg, due to the delayed rains in March and the low precipitation recorded in April..."
NIGERIA:
Nigeria Plans to Raise 328 Million Dollars by Issuing a Sovereign Sukuk in the Local Market: "Nigeria will issue this month its first sovereign Sukuk in the local market to finance road projects. According to the country's debt management office, which made the announcement yesterday, the amount targeted through the operation amounts to 100 billion Nairas (328 million Dollars). The Islamic obligation to be issued on June 28 will be listed on the Nigerian Stock Exchange and FMDQ. It will mature after seven years. The institution states that the program is part of a strategy to accelerate the development of infrastructure. It primarily targets retail and institutional investors and will be co-arranged by First Bank and Lotus Capital Islamic Heritage Manager. As a reminder, in 2013, the state of Osun, Nigeria, issued a Sukuk worth 10 billion Nairas (31.8 million Dollars). Since then, no other sukuk has been issued..."
Ikeja Electric, Associated with Deloitte, Launches a Platform to Denounce the Theft of Electricity: "In Nigeria, the distribution company Ikeja Electric Plc, in partnership with Deloitte, launched last week a platform allowing its customers to report the theft of electricity in its network. "By connecting our customers directly with a professional service provider through this platform, we allow them to report any kind of unethical or illegal behavior," indicates Felix Ofulue, in charge communications for Ikeja Electric. The platform, which will be managed by Deloitte, will include the use of emails and free calls, among others, to denounce the offenders, including anonymously..."
Diesel Prices Have Decreased by More Than 30% Between February and June This Year: "In Nigeria, diesel prices have decreased by more than 30% between February and June this year, according to local media THISDAY. In February 2017, when oil prices exceeded 53 Dollars, the deposits provided diesel between 225-235 Nairas ($0.72 - $0.75) per liter. At the pump, this price was up to 260-280 Nairas ($0.83 - $0.89). "The increase in crude oil prices and the rise in the exchange rate in February affected not only diesel prices but also those of other products. Currently, the price of the goal from which diesel is derived is declining due to a strong supply on a global scale," a dealer told the Nigerian newspaper. According to the site, at the beginning of the current month, diesel prices supplied by traders were around 152-154 Nairas ($0.48 - $0.49), while at the pump it was sold at less than 200 Nairas ($0.64)..."
ANGOLA:
42.5% Tax Relief to the Benefit of China International Fund (CIF): "According to a presidential decree dating from the end of May, the China International Fund group (CIF), present in several sectors in Angola, will benefit from several tax breaks over the next six years. The decree approving the contract between the CIF and the Technical Unit for Private Investment (UTIP) indicates a 42.5% reduction in property tax and investment tax payments. The Chinese fund that has already invested 694 million Dollars in two real estate projects on the outskirts of Luanda, which have allowed the construction of thousands of houses, is considered the largest Chinese group present in Angola..."
SENEGAL:
Avenira Wants to Increase the Production Capacity of the Baobab Mine: "The mining company Avenira has released details of its new strategic plan aimed at increasing the production capacity of its baobab phosphate mine in Senegal. The implementation of the plan will require an investment of more than 17 million Australian Dollars. According to the published details, the plan will be implemented in two phases, the first of which will focus on improving the capacity and performance of the existing mill on the mine. In this step, a flotation factory will be added to the processing one to increase the rate of phosphate recovery, currently 50%, to 70%. "The objective of Phase 1 is to increase the current production rate to 500,000 ton/year and improve the quality of the product, which will allow us to access a broader market segment," explains the CEO, Louis Calvarin..."
Crédit : IMPERIUM MEDIA
