Ghana’s Gross Domestic Product (GDP) is forecasted to increase by 30 to 40%, over a statistical update scheduled for next September, Reuters reported July 18. The country plans a new GDP calculation system based on data from 2013 set as reference year, instead of 2006, to better reflect recent booming activities in oil, communication technology and construction sectors. “The indication is...

Since May 16th, FINACTU has been working with the UNICEF and the Ministry of General Affairs and Governance (MAGG) to a new effort to modernize the social welfare in Morocco. Although the country’s efforts, this last two years, lead to an overall increase in life expectancy of 34 years in 60 years (with an average life expectancy of 77.6 years in 2015 compared to 42.9 years in 1955),...

The African Development Bank has approved a string of measures aimed at supporting South Africa’s economic development ambitions as an upper Middle-Income Country. This support package is contained in the Bank’s Country Strategy Paper (CSP) 2018-2022 for South Africa, which will guide the Bank’s operations in the country during the next five years. The new plan builds on the previous CSP...

The Board of Directors of the African Development Bank has agreed to award to the Republic of Cabo Verde, a €20-million loan to finance the first phase of the country’s  Private Sector Competitiveness and Local Economic Development Program (PSC-LED). The objective of the program is to spur private sector and local entities to make greater contribution to growth and employment and...

Swiss agribusiness firm Nestlé has been reinstated in the Roundtable on Sustainable Palm Oil (RSPO), an association statement relayed by Reuters indicated. Created in 2004 to ensure the sustainability of palm oil industry criticized for being environment-unfriendly, the RSPO is a voluntary certification mechanism based on about forty criteria grouped into eight principles. Nestlé’s...

Nigeria’s government plans to reallocate more than $630 million in supplementary budget, Bloomberg revealed. Funds are expected to ease impending spending with particular focus on the 2018 budget. A letter from President Muhammadu Buhari (photo) to Senate indicated that part of the money will serve to prepare for general elections estimated at over $671.1 million (scheduled for...

Mali’s anti-Illicit Enrichment Central Office (OCLEI) gathering members of civil society, private sector and public administration, organized a training workshop for journalists on corruption and illicit enrichment in Bamako, Info Matin reports. The workshop aimed at developing skills for journalists to better achieve OCLEI's missions. It enabled them to “understand wealth declaration...

In Libya, oil revenues reached LYD15.6 billion ($11.4 billion) during the first half of 2018, more than double the LYD6.8 billion collected the same period last year, the Tripoli-based Central Bank (CBL) revealed. According to the bank, oil incomes accounted for more than 93% of total state earnings which stood at LYD16.7 billion over the period reviewed, slightly above total spending (LYD16.88...

During the first six months this year, Morocco’s trade deficit reached MAD100.83 billion ($10.7 billion), up 7.8% from the same period in 2017. This was announced July 16 by the exchange office. Over the period, imports rose by 9.9% to MAD240.97 billion while exports jumped by 11.4% to MAD140.14 billion. In detail, major imports include equipment and machines which rose by 10% to MAD59.18...

Togo and Ghana could instigate a legal battle over oil exploration in the East Keta ultra-deep block. This situation worries the Public Interest and Accountability Committee (PIAC), one of Ghana’s oil regulatory authorities, which published July 16 its 2017 annual report. Let’s recall that a few months ago, the Ghanaian government awarded the operation of an oil block in East keta to a joint...