CAMEROON:
Cameroon wants to reduce the export tax on cocoa by 50% to discourage the operators of the sector: "Revalued by almost 300% (from 54 CFA francs to 150 CFA francs) at the beginning of the 2014-2015 cocoa season to finance the recovery plan for the cocoa-coffee sectors, whose objective is to achieve cocoa production of 600,000 tons in Cameroon in 2020, the export levy on cocoa should be cut in half by the launch of the 2017-2018 cocoa season, learned during a recent field trip of the Minister of Commerce, Luc Magloire Mbarga Atangana. This measure, it is said, aims to provide more margin for exporters which, in turn, will have to pay comfortable prices to producers so that they do not yield to discouragement in the face of the decline in world cocoa prices observed for several months on the international market..."
A new well drilled by the British VOG on the Logbaba gas field will enter Production in September 2017: "Cameroon Gas (GDC), local subsidiary of British Columbia Oil and Gas (VOG) in charge of the production and distribution of gas to companies in the Cameroonian economic capital, will put into operation from September 2017 one of the two wells whose drilling activities had begun in November 2016, learnt officially. "The supply of new gas is expected to be available in the third quarter, which should enable us to finalize contracts with high-use customers, with whom we have discussed in recent months," said Ahmet Dik, CEO of VOG..."
NIGERIA:
The State of Niger is partnering with a private company to build an agricultural city of about $3 billion: "In Nigeria, the government of the State of Niger last Tuesday signed a memorandum of understanding worth $3.25 billion with All States Investment to build an agricultural city meeting international standards in the State. The main objective of the project is to boost the fish farming sector in the region. The announcement was made by the company's general manager, Henry Goiko, who spoke on the sidelines of the Niger State Summit recently held in Minna. The framework also specified that the project, which will cover an area of approximately 43,000 hectares, will be located in the Rafi..."
NNPC reduces its oil production costs by 70.5%: "The fall in oil prices has forced the Nigerian public oil company to lower its production costs. According to Dafe Sejebor, the head of NNPC branch in charge of services and marketing, production costs will increase from $78 per barrel to $23, a reduction of 70.5%. This decrease in production costs per barrel should allow the oil giant to save at least $3 billion a year. "If you reduce your production cost from $78 a barrel to $23, take the difference and multiply by the average daily production, you will discover that we save a minimum of $3 billion upstream for production sharing contracts (PSC) and joint ventures (JV)" ..."
In Nigeria, the executive relies on the rail network to ensure the effective diversification of the economy: "With a view to improving the movement of goods across the country from an economic diversification perspective, the Nigerian executive has just begun a railway rehabilitation and construction program estimated at $41 billion, according to Bloomberg. The program includes the construction of two new lines, the first connecting Lagos to Kano and extending over 1,100 km; the second linking Lagos to Calabar in the east. Funding for this project, estimated at $20 billion, should come mainly from the China Exim Bank. However, the latter has for the moment injected only $5.9 billion. According to the Minister of Transport, Rotimi Amaechi, the project will be led by China Civil Engineering and Construction Co. (CCECC) and is expected to be completed by the end of 2019. In addition to this project, the negotiations are underway for the construction of additional lines for a $16 billion investment. These will link the various capitals of the states of Nigeria..."
ETHIOPIA:
Exports of horticultural products generated $271 million in 2016/2017: "At the end of the fiscal year 2016/2017, the Ethiopian exports of horticultural products reported $271 million, reports hortibiz.com. According to the Ethiopian authority in charge of horticulture and agricultural investment, this amount shows a slight decrease of 1.5% in relation to the revenue generated in the previous fiscal year ($275 million) and marks a level below 41.2% ($190 million) in relation to the target set..."
ANGOLA:
The European Union will inject €65 million into strengthening food and nutrition security: "Angola will receive €65 million from the European Union (EU) for the project to strengthen resilience and food and nutrition security (FRESAN), according to the Angolan News Agency (Angop). This amount will be awarded through the 11th European Development Fund (EDF), and the funding agreement was initialed on Monday by Job Graça, Minister for Planning and Territorial Development, and Tomas Ulicny, EU ambassador to Angola..."
TANZANIA:
The government wants to build a 400 kV transmission line to supply 4 cities: "The Tanzanian executive plans to build a 400 kV power transmission line to serve four cities from the Mbeya region in the south-west of the country, reports the site esi-africa.com. The cities concerned are Sumbawanga (Rukwa region), Mpanda (Katavi region), Kigoma, and Nyakanazi (Kagera region). This project, the cost of which has not been disclosed, must launch during the last quarter of 2017 and ending in July 2019, says Medard Kalemani, Deputy Minister of Energy and Mineral Resources. "The Rukwa region is dependent on its electricity supply for oil and a small amount of energy from Zambia. Once the project is completed, power cuts will be a thing of the past," said the official."
Crédit : IMPERIUM MEDIA
