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News: Headlines from the Moroccan Press: Tuesday, December 4, 2018

IVORY COAST:
Abidjan: celebration of the 69 best investors in Ivory Coast: "The sixty-nine Best Investors in Ivory Coast were celebrated on Thursday night during the first edition of the "Investor Evening" organized in Abidjan by the Ministry of Economy and Finance through the General Directorate of Treasury and Public Accounting, APA noted on the spot. This "Investor Evening", which aims to strengthen partnership relations between the Treasury and market players, allowed the Ivorian authorities to express their "gratitude" to all those who accompanied the country in the "mobilization of resources on the capital market from 2012 to 2018"..."


RWANDA:
The IMF expects growth to reach 7.2% in 2018: "Rwanda could reach an economic growth rate of 7.2% in 2018, according to a statement by the International Monetary Fund (IMF) last week. The country of Paul Kagame should therefore follow this year, with an increase in economic growth compared to the 6.1% recorded in 2017. The latter is expected to be driven by an increase in activities in the tourism, mining and agriculture sectors. The diversification of Rwandan exports to foreign countries should enable the East African country to improve its trade balance, while the financial sector is improving. In the field of Infrastructure, experts indicate that the construction of the new Bugesera airport should boost investment in the country..."


BURKINA FASO:
FINANCES: Microcred Burkina deviates Baobab Burkina: "Present in Burkina Faso two years ago, Baobab Burkina, now ex Microcred, wants to do more. The launch of its new brand comes at a time when Baobab has developed an ambitious strategy to digitalize the business," explained Nicolas Dehoorne, the Company's Chief Executive Officer. Today, we no longer only provide credit to microentrepreneurs but also to SMEs and individuals. Also the company does not only do credit but has added savings and other financial services to its portfolio, added the Managing Director. The new Baobab brand is a simple and recognizable name, inspired by the Baobab tree which is a tree present in Burkina Faso and which has a great cultural significance and also for these many uses. While adopting a new brand name, the iconic "Rubine Red" color is retained..."


NIGER:
Niger is looking for 249 billion CFA francs for one of its flagship projects "KANDADJI": "A round table aimed at mobilizing 249 billion CFA francs opened on Friday in Abidjan, as part of the implementation of the "Kandadji" program, vital for Niger's development, noted APA on the ground in the economic capital. "This (...) strategic and multisectoral project is one of the Niger government's flagship projects to accelerate the country's economic transformation," said Charles Boamah, Vice-President of the African Development Bank (AfDB). The AfDB, lead donor, which is hosting this round table at its premises in Abidjan, "will take its full share of responsibility alongside other donors for the closing of the financing," its Vice-President reassured his Vice-President. The Niger Minister in charge of the Plan, Aïchatou Kané Boulama, argued on this subject that no "project will have aroused as much interest as this one", noting that it is "an old idea dating back to 1970"..."

The tax authorities are claiming 22 billion CFA francs from Orange and closing its offices in Niamey "for non-payment of taxes": "Orange Niger has been notified of a tax adjustment that represents nearly half of its annual revenue. Followed a few days later, on November 29, by an order to close the premises in Niamey. "Since the start of its activities in 2008 and until now, Orange Niger has always fulfilled its tax obligations (taxes, duties and fees) in accordance with the laws and texts in force in Niger, as confirmed by the certificates of tax regularity issued by the General Directorate of Taxes" ensures the management of the operator who is surprised "by this haste From the administration and regrets the brutality of such measures, given in particular the exorbitant amounts claimed...""


DRC:
Car manufacturer BMW announces a project with GIZ to improve cobalt operating conditions: "German company BMW announced this week a pilot project supported by chemical giant BASF, battery manufacturer Samsung SDI and the German development agency GIZ to improve working conditions in cobalt mines in the DRC. According to the details relayed by Reuters, the project will examine ways to improve working and living conditions in areas where Cobalt is extracted manually. The project will cover a pilot mine over the next three years. BMW will not directly purchase cobalt from the mine to be operated by a local cooperative..."