BURKINA FASO:
The State Injects 10 Billion CFA Francs to Support Startups: "On July 11, 2017, the government of Burkina Faso launched its new program called "Burkina Start-up". According to the Prime Minister, Paul Kaba Thièba, who makes the announcement, it is a program of support for young companies with a budget of 10 billion CFA Francs which will create some 500 small and medium-sized enterprises. "Through this program, Burkina is back. We will be able to respond to the needs of young people to ensure that our country has strong growth," indicates the Prime Minister. According to him, the program spans five years, until 2021, and will cover all sectors of activity, with particular emphasis on innovation and growth-enhancing sectors. Unlike existing solutions, "Burkina Start-up" will have the particularity of improving and facilitating the conditions of access to financing, necessary for the emergence of innovative young entrepreneurs. The management of this money will be entrusted to the Burkina Faso Economic and Social Development Fund (FBDES)..."
NIGERIA:
Kano Parliament Passes Law Aimed at Securing $7 Million Annually to the Health Sector: "In Nigeria, the regional parliament of Kano has recently passed a law on the creation of a health fund (KHETFUND) aimed at ensuring the sustainable financing of the health sector in the State. The law is expected to mobilize $7 million a year, according to the founder of the Community Initiative for Health and Research (CHR), Aminu Garba, who made the announcement last Tuesday. The fund will be financed by 5% of the state's tax revenues and 1% of statutory allocations from its 44 local government areas, according to Garba. However, the official pointed out that the law on the creation of KHETFUND remains subject to the approval of the Governor of the State, Abudllahi Umar Ganduje..."
Oil: Nigeria Agrees to Apply a Reduction Quota of Its Production: "In Nigeria, the persons in charge of the oil sector have taken the measure of the urgency to limit its oil production. On Wednesday, Ibe kachikwu, the minister in charge of petroleum resources, stated that the federal government will support a cap on its oil production. The country which plans to recover, before the end of the year, its 2.4 million daily production of yesteryear, hopes to limit production to 1.8 million barrels per day, i.e. 100,000 barrels, more than it currently produces..."
MOZAMBIQUE:
Germany Grants €15 Million to Finance an Electricity Project: "Germany has concluded an agreement with Mozambique to finance to the tune of €15 million the phase II of the project to modernize the country's electricity grid. The agreement was signed in Maputo on Wednesday by the deputy minister of Foreign Affairs and Cooperation of Mozambique, Nyeleti Mondlane, and the Ambassador of Germany to Mozambique, Detlev Wolter. It will enable the construction of a new substation of 66/33 KV and new low-voltage networks (33 KV) in the Beleluane industrial park. The project, which is expected to begin in the next six months, is connecting the power grid of the park to the neighboring residential areas of Matola, a city about 15 km from Maputo..."
GHANA:
The Increase in Oil Production Will Have Little Impact on the Budget Deficit: ""In Ghana, the increase in black gold production will not improve public revenues sufficiently, nor will it cover the budget deficit," indicates Bloomberg. At the beginning of the year, the country was counting not only on a threefold increase in its output to boost public revenues, but also on an average oil price of $56, while the average price is currently $52. Ghana thus planned to reduce its budget deficit by 6.5% which was $1.6 billion. Unfortunately, funding options remain limited. The country already relies on an IMF assistance program, worth $1 billion, which is intended to deal with budgetary difficulties..."
The Central Bank of Ghana Wants to Increase Access to Digital Payment Services in the Country: "At a meeting called "Night with MTN Group Board", organized last week, Ernest Addison, the Governor of the Central Bank of Ghana (BOG), declared that the national financial institution intends to increase access to digital payment systems in the country. To reach this goal, the head of the national financial institution has revealed his intention to collaborate with telecom operators and several other actors in the financial sector, operating in Ghana..."
IVORY COAST:
389,000 Tons of Cocoa Were Crushed at the End of June: "In Ivory Coast, the total stock of ground beans in 2016/2017 was 389,000 tons at the end of June, an increase of 13.8% over the reported result, one year earlier. According to Reuters, which reports the GEPEX estimates (Professional Association of Coffee and Cocoa Exporters) covering 6 of the 12 mills in the country, the volume of processed cocoa has recorded a sustained growth rate of 18% and 34% in May and June respectively..."
Crédit : IMPERIUM MEDIA
