BURKINA FASO:
Agriculture, a Powerful Tool for Poverty Reduction: "The economy of Burkina Faso, which is based on agriculture, remains dominated by subsistence production and marked by the low productivity of crops and livestock. While progressing, diversification remains limited, while the development of agro-pastoral sectors suffers from the lack of enterprises in the formal private sector. Always predominant, cotton exports account for about 60% of total agricultural exports, stressing the need to diversify production and exports. Interventions in this direction are essential to reduce the country's dependence on a few commodities and help it embark on new high-growth and strong value-added opportunities. In particular, the country must improve the competitiveness of certain sectors to target national, subregional, and international markets..."
CHAD:
The AfDB Will Soon Finance a New 32 Megawatts Power Plant: "During this meeting, the two men also reviewed the announcements which were made in N'Djamena by the AfDB President Akinwumi Adesina, during a visit last February. Among the commitments of the ADB are a project of electrical interconnection between Chad and Cameroon and the acceleration of the process of rehabilitation of the current power station of the National Electricity Company of the country. The bank has also embarked on other structuring projects in Chad. "Financial and technical partner, the AfDB will continue to provide budget support to Chad which is going through a difficult economic phase," declared Hott yesterday after meeting the President of Chad. Chad, which depends on 95% of the income from its oil, is directly struck by the decline in the price of black gold..."
NIGERIA:
Oil: Nigeria Releases 2 Billion Dollars by Renegotiating Its Contracts: "Beyond improving productivity, the oil arm of Nigeria is trying to optimize the use of its resources. Nigeria's national oil company (National Petroleum Corporation-NNPC) has just announced that it has saved 2 billion Dollars a year by renegotiating its exploration and production contracts, in its effort to reduce overhead costs. The company has also succeeded in reducing the operating costs of oil production, from $27 per barrel to $22. "For the exploration and production activity, the cost reduction and efficiency are key elements that we will be paying attention to," declared in a statement Maikanti Baru, the General Director of NNPC..."
GHANA:
Eni Pumps the First Barrel of Oil in the Sankofa Field: "On Thursday, the Italian energy group Eni produced the first barrel of oil in the Sankofa field. This field is the first phase of the Outshore Cape Three Points project (OCTP) which will see production of 45,000 barrels per day and 180 million cubic feet of natural gas per day by the end of the next year. This will double the supply of domestic gas. The production was launched by the President Nana Akufo Addo who opened the valves of the floating production, storage, and unloading vessel, John Agyekum Kufuor, named after the former President of the Republic between 2001 and 2008. According to a statement by Eni, this production will boost Ghana's economic growth. The country is positioning itself to become one of the leaders of the African market for the production of black gold..."
Moody's Expects a Positive Outlook for the Economy While Drawing Attention to the Debt Level: "According to the financial rating agency Moody's Investors Service, Ghana's credit profile (B3 Stable) reflects the prospects for strong economic growth and reduction of external imbalances in spite of a very high public debt, and a weaker budgetary position. For Elisa Parisi-Capone, the Vice president of Moody's and co-author of the report, Ghana's strong points for the next few years are, among others, the strong growth prospects of its diversified economy compared with the regional average, supported by new developments in oil and gas fields. Its challenges remain linked to its debt ratio which is above 70% of the GDP and very low debt indicators for the next two years..."
UGANDA:
Uganda Revising Upwards Its Tea Production for 2017: "In Uganda, a tea volume of 60 million kilograms (kg) is now expected in 2017, i.e an increase of 7% from the initial production projections similar to last year, between 56 and 57 million kg, reports Bloomberg. According to George William Ssekitoleko, the Executive Secretary of the Ugandan Tea Association, this upward revision is in particular due to precipitation from March to May which has favored the development of leaves, a situation that contrasts with the reduced returns recorded in 2016 and early this year due to drought. Otherwise, explains the leader, new plantations have been created contributing to the increase in cultivated areas..."
Crédit : IMPREIUM MEDIA
