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Pan-African Economy in Brief : Monday, September 24, 2018

SENEGAL :

296 billion FCFA for the Bus Rapid Transit project: "The Minister of Infrastructure, Land Transport, and Access, Abdoulaye Daouda Diallo, chaired yesterday in Dakar the workshop to launch the BRT, or Bus Rapid Transit, project, with a total cost of 296 billion FCFA including 184 billion FCFA from the World Bank and 52 billion from the European Investment Bank.  At a cost of 296 billion CFA francs, Senegal yesterday launched its "Bus Rapid Transit" (BRT) project. It was during a workshop chaired by the Ministry of Infrastructure, Land Transport, and Opening-up, Abdoulaye Daouda Diallo. For the Minister, the BRT project launches a new stage in the implementation of Senegal's public transport policy..."

GUINEA:

The WB announces more than US$1 billion for the period 2018-2023: "The World Bank has announced more than US$1 billion for Guinea for the period 2018-2023.  This is what the institution's Director of Operations said when launching a new Partnership Framework, Ms. Soukeyna Kane.  The objective is, among other things, to develop priority sectors, strengthen the social contract and improve the provision of basic services..."

IVORY COAST:

An economic operator robbed of FCFA 50 million in the courtyard of a bank in Gagnoa: "An economic operator was robbed in the enclosed courtyard of a bank on Thursday afternoon, in the centre of Gagnoa, by two motorcycle thugs, who robbed him of a sum of 50 million CFA francs, AIP learned. It was at the moment of manoeuvring his vehicle parked in the courtyard, that Ezzedine Gazem, buyer of the Product, saw an armed individual arrive, who broke the windscreen on the passenger side using the stick of his pistol, before seizing the bag containing the money, under the stunned eyes of the guards, according to several witnesses..."

 

Investment opportunities in Ivory Coast presented at the AFZO in Abidjan: "The Ivorian Minister of Trade, Industry, and SME Promotion, Souleymane Diarrassouba, presented investment opportunities in his country on Friday, on the occasion of the 3rd edition of the annual convention of economic zones and African free zones (AFZO, in English) which is held in Abidjan. According to the Minister, the Government of Ivory Coast is committed to building a real business environment, through a very attractive investment code. In addition, there are economic infrastructures (roads, hydroelectric dams), promotion of information and communication technologies (ICT) with the completion of optical fibre..." 

ZAMBIA :

 Economic growth is expected to be less than 4% this year (World Bank) : "Zambia is expected to record economic growth of less than 4% in 2018, announces a World Bank report on the country.  According to information relayed by Reuters, this new estimate, which is lower than the 4.1% announced last April, is driven by a slowdown in several key sectors of the economy.  "Poor agricultural harvest, falling copper prices, and fiscal debt problems that are holding back private sector growth "would be the main factors explaining the expected decline in economic activity..."

CAMEROON :

Cameroon/imports of crude oil: the 68 million euro loan from the ITFC ratified: "Cameroon's Head of State Paul Biya ratified on Thursday, September 20, the loan agreement concluded with the International Islamic Trade Finance Corporation (ITFC) for the financing of 68 million euros of crude oil imports for the National Refining Company (Sonara).  The agreement was concluded on February 19, 2018 and signed on April 3, 2018 in Tunis, Tunisia. The document was signed on the occasion by Cameroon's Minister of Economy, Planning, and Land Use Planning (Minepat) - Alamine Ousmane Mey - and the President and CEO of the ITFC, Hani Salem Sonbol..."