Last Thursday, President Alassane Ouattara announced that his administration will cut budget expenditures for the 2017 year by 10%, due to global slump of cocoa prices. The decision, which was discussed at the beginning of the month during the visit of an IMF delegation, will impact various sectors of the Ivoirian economy. Budget lines dedicated to investment will be reduced 10% or FCFA200...

The Nigerian National Petroleum Corporation (NNPC) has officially its diversification into the health sector as it aims to remain a commercially viable entity. This was announced by the Corporation’s Group Managing Director, Maikanti Baru (photo), while inaugurating the Boards of the NNPC Medical Services Ltd (NMSL) and the NNPC Health Maintenance Organisation (HMO) Ltd. “My vision is to...

In Nigeria, five states, knowingly Kaduna, Imo, Rivers, Delta and Ogun partnered with France-based solar solution provider, GreenElec, to develop solar mini-grids. According to GreenElec President, Marvel Hochet, the project will make populations of these States less dependent of national grid in addition to boosting the nation’s energy mix, as government wishes.“Investigation conducted by...

The Malian insurance companies, through the Committee of Insurance Companies of Mali (CCAM), and with the support of the sector’s supervisory authority within the Ministry of Finance, have mandated FINACTU to carry out a strategic study and actuarial work on the development of a Programme-Contract. This contract features a deal by which the insurance players commit on concrete measures which...

Six years after the Arab spring which significantly impaired economic growth in Tunisia, the country should get back on the right track this year. This trend will be mainly supported by the revival of tourism and phosphate production, said Prime Minister Youssef Chahed on TV last Sunday. “Tourism is doing better and should record a 30% growth this year. As for phosphate production, it has...

“Inclusive land management for sustainable growth: time for action”. This is the theme under which was launched the National Land Forum opened in Lomé, Togo, on April 18th. Prime Minister Komi Selom Klassou, explained on the sidelines of the event that the event was organized because “all cities, including Lomé, the capital, as well as our hamlets, without exception, have become quite...

Morocco is projected to produce for the 2017-18 grain season an output of 10.2 million metric tons, reports Reuters which cited the country’s ministry of agriculture. This is far above last year output which was at 3.35 million tons and very close to 2015-16 record level of 11.5 million tons. Wheat output, the Kingdom’s main crop, should reach 7.27 million tons of which 4.94 million tons of...

After two consecutive years marked by negative results, the Sociéte Africaine de Plantations d’Hévéas of Cote d’Ivoire (SAPH CI) is the back on track. Indeed, the company ended the 2016 financial year with a post-tax profit of FCFA1.16 billion. This was reported by the Agence de Presse Africaine (APA). The firm’s turnover thus soared 14.9% as compared to 2015, standing at FCFA112.92...

While visiting the Constantine wilaya in the North-Eastern part of Algeria, the minister of industry and mines, Abdeslem Bouchouareb, announced that 1,100 hectares of land had been secured for industrial use in the area. A move which aims to attract local and foreign investments in the country. “With the 1,100 hectares secured for industrial purpose, in the framework of project related to the...

Zambia and Zimbabwe appointed the African Developement Bank (AfDB) main coordinator of funds mobilization process for the construction of the Batoka Gorge hydropower dam. The institution also reiterated its commitment regarding the development of the project in which it, up till now, acted as main financial adviser. With a capacity of 2,400 MW, the dam will cost $6 billion. Its construction...