KENYA:
The Government will guarantee the debt of Kenya Airways in the amount of 750 million Dollars: "According to a document dated on Tuesday and relayed by Reuters, Kenya will provide 750 million Dollars in guarantees to Kenya Airways' creditors to help the heavily indebted national company obtaining other sources of financing. The document states that these guarantees, approved by Nairobi, will cover debts of 525 million Dollars from US Exim bank and the remainder from local banks. This decision, which should, according to the document, impel a re-launch of the airline, intervenes while Kenya Airways is going through difficult times. In fact, at the end of its 2016 financial year ended in March 31, the company suffered losses estimated at 9.2 billion Kenyan shillings (88.3 million Dollars)..."
CAMEROON:
2nd Business Forum initiated by Attijariwafa Bank: "For three days, more than 400 participants from the different business circles of the country, as well as investors from African countries, debated and exchanged views on development perspectives around the central theme "Agro-Industry: Potential and Contribution to Economic Growth." The choice of this theme is fully justified according to the organizers, because not only more than 60% of Cameroon's population lives from agriculture, but also 12,000 companies listed in the secondary sector, almost half of which is in agro-industry. Moreover, on the basis of the objectives of the Strategy Document of Growth and Jobs (GESP), it is a question of raising the gross domestic product (GDP) from 25% currently to 40% in the coming years. Similarly, it is a question of achieving 50% of the volume of commodity processing in the country, against less than 30% currently. In his speech, the Managing Director of the SCB, Mohammed Meijbar, has located the stakes of the meeting: "This second edition of the Africa Development Club intervenes in the wake of the syntax of the international Africa development forum of the group Attijariwafa Bank to which 100 participants under the aegis of the National Investment Corporation (SNI) have taken part since 2010"..."
The petroleum production in decrease of 20.8% in the first four months of 2017: "The activities carried out by the National Hydrocarbons Corporation (SNH) between January and April 2017 were presented to the Board of Directors in Yaoundé on June 6 by Adolphe Moudiki, SNH's Administrator-Managing Director. "The production investment budget has been reduced from USD 311.72 million at the end of 2016, to USD 285.45 million for 2017. Due to this declining investment and the natural decline of mature fields, the oil production stood at 9.74 million barrels as of April 30, in decrease of 20.8% from the same period of the previous year," reads the final communiqué signed by Adolphe Moudiki. The gas production, on the other hand, amounted to 4341.7 million cubic feet in the first four months of 2017, an increase of 1.29% compared to the same period in 2016..."
GHANA:
Ghana imports 2.2 billion Dollars worth of food per year: "Ghana currently dedicates 2.2 billion Dollars per year to food imports. This was revealed by Yofi Grant, the Managing Director of the Ghana Investment Promotion Center (GIPC). Describing this amount as "unacceptable," Ghanaweb said that Ghana could, through increased investment in the agricultural sector, particularly in the northern savanna ecological zone, save and increase its export earnings. In this context, according to Mr. Grant, the Ghanaian government will continue to target actors interested in the agricultural sector in order to support them in increasing their production. "We had already discussed with investors desiring to get involved in agriculture at the level of the production segment but also of the transformation throughout the value chain," indicates the Leader..."
TANZANIA:
The government is returning 94 million Dollars to the Agricultural Development Bank: ""The Tanzanian executive yesterday handed over to the Agricultural Development Bank (TADB) a loan of 209.5 billion shillings (94 million Dollars) from the African Development Bank (AfDB)," reports The Citizen. This amount should enable the Tanzanian bank to increase the volume of its loans to agricultural actors through the reduction of their interest rates (currently between 8-12%) and to extend its facilities to medium- and long-term loans, against the short-term so far provided to 3,700 agricultural actors..."
NIGERIA:
Nigerian crude production could remain low until the first quarter of 2018 (EIA): "According to a report published on its website, the US Energy Information Administration (EIA) said that Nigeria's oil production could remain low until the first quarter of next year if disagreements between the armed groups and the government persist. The agency also took the opportunity to urge the government to put an immediate end to the insurrection in the delta. "The inability of the federal government to maintain peace in the region means that there would be a continuous interruption of production activities in the region. This would have a negative impact on crude oil production. Nigeria's reduction in production exemption is a major opportunity if the country can do everything in its power to put an end to the insurgency in the region," said the document. A warning comes as OPEP plans to allocate supply-reduction quotas to Nigeria and Libya, exempted from reduced production in Vienna..."
Crédit : IMPERIUM MEDIA
