The Pan-African Economy in Brief: Wednesday, October 10, 2018
UGANDA:
5 million from India to support SMEs: "Uganda will receive $5 million from India's share of a program to support the country's small and medium-sized enterprises (SMEs), said the Xinhua news agency on Monday, official sources said. This Financing, which will be provided as a loan, is expected to be provided by the Indian Import and Export Bank to the Uganda Development Bank (UDB). It should make it possible to finance the purchase of raw materials, tools, agricultural equipment of Indian origin by Ugandan entrepreneurs as well as the acquisition of various forms of technology..."
BURKINA FASO:
1.5 billion from the ITFC to finance development projects: "Burkina Faso will receive $1.5 billion from the International Islamic Trade Finance Corporation (ITFC) to implement development projects, according to a statement issued last week by the institution. This financing, granted within the framework of an Agreement signed between the two parties, should essentially enable the West African country to develop its activities in the agricultural and oil sectors. Thus, the country will be able to finance the export of agricultural products such as cotton and the import of agricultural inputs and food products. The agreement will contribute to the mobilization of the necessary resources for the import of refined petroleum products, but also of crude oil..."
CONGO:
The government is proposing a 2019 budget that is 43.93% higher than in the previous year: "In Congo, the government plans to adopt a budget of $4.03 billion for the year 2019, according to the Reuters news agency, quoting an official statement. This Budget planned for submission to Parliament represents an increase of approximately 43.93% over the $2.8 billion expenditure plan for 2018. While the country is just emerging from an economic crisis due to the fall in oil prices and exacerbated by a colossal debt representing more than 117% of the gross domestic product, according to IMF estimates, the authorities seem more optimistic compared to the coming years..."
BURKINA FASO –GHANA:
The 225 kV interconnection line between Ghana and Burkina Faso has now been completed: "Burkina Faso and Ghana have inaugurated the 225 kV power line connecting them. The infrastructure extends over 188 km and connects the towns of Bolgatanga in Ghana and Ouagadougou in Burkina Faso. This new interconnection line has a transmission capacity of 100 MW of electricity, or one third of Burkina Faso's energy demand. It was built by the French company Eiffage at a total cost of 55 billion CFA francs, or about $96.2 million..."
NIGERIA:
Poland chooses Nigerian oil to reduce its dependence on Russian crude oil: "In Poland, the public oil refiner PKN Orlen has chosen to source crude oil from the Nigerian market as part of its policy to reduce its dependence on Russian oil. For that, it expects a first delivery in the next few days. "Nigeria is our new source of supply. Currently, a 130,000-ton shipment of Nigerian oil is on its way to Poland. It is expected to arrive in Naftoport (Gdansk) in mid-October," said Daniel Obajtek, Director General of the PKN, in an interview with the Polish press, relayed by Energy Mix Report..."
ZAMBIA:
Zambia is "open to dialogue" with mining companies about tax increases: "The Zambian Ministry of Finance said on Sunday that it was open to dialogue with mining companies on the government's plans to raise mining taxes. The country announced at the end of September that it would introduce new mining rights in 2019 and increase royalties to help reduce the growing debt. "We remain open to dialogue with mining companies that are willing to discuss amicably the transition to the new mining tax regime," said Finance Minister Margaret Mwanakatwe, in a statement relayed by Reuters..."
TANZANIA:
Acacia Mining revises upwards its production forecasts for 2018: "Acacia Mining announced on Monday that its annual production for fiscal 2018 is expected to be slightly above 500,000 ounces, more than the upper end of its previous forecast range of 435,000 - 475,000 ounces of gold. The company operating at three mines (Bulyanhulu, Buzwagi and North Mara) in Tanzania reported that it has already produced 391,000 ounces over the first nine months ended September 2018..."



(04) Comment
Rohan De Spond
25 january 2024
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Rohan De Spond
25 january 2024
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Rohan De Spond
25 january 2024
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Rohan De Spond
25 january 2024
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we transform to Secularism state and i know some people will not like this, but to secularism is important for our country to separate powers and don't have a presidents or ministers that they steals the state money Under the pretext that they are our guardians the one hand, and the other hand we have free religion and thinking the state don't have the right to intervention to religion of peoples because in this country the stanses must know her toghet the homeland not religions may be we disagree in our religions or ideas or opinions but in the first homeland we togheth