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The Pan-African Economy in Brief: Thursday, April 18, 2019

BURKINA FASO:
Burkina Faso falls to 4th place among cotton producers in Africa:
Climate change, the boycott of some producers and the terrorist threat are among the reasons that have strongly impacted cotton production in Burkina Faso. Yields at field level have decreased from 697 kg to 672 kg per hectare. A decrease in cotton production due to climatic hazards characterized by droughts and floods. The terrorist threat in the eastern region has forced some producers to abandon their fields as well.Wilfried Yaméogo, General Manager of the Société burkinabè des fibres textiles (Sofitex), Burkina's main cotton company: "It must also be said that there was the boycott movement (a dissatisfaction of producers, preventing others from getting involved in cotton cultivation) which was observed particularly in Kénédougou, which therefore did not allow to have a production potential of around 80,000 hectares in the Kénédougou area"...


IVORY COAST:
A $3.5 million chick production plant opened in Azaguié:
The Ivorian Minister of Youth Promotion and Employment, Mamadou Touré, on Monday inaugurated a 2 billion CFA francs (about $3.5 million) chick factory in Azaguié, a town located 40 km east of Abidjan in Côte d'Ivoire. The result of Ivorian-Dutch cooperation, this hatchery will enable 110 young Ivorians to benefit from employment, while contributing "to food security in terms of animal protein, in particular through the supply of quality chicks for national poultry farming". "The hatchery we are opening is further direct proof of the private sector's contribution to the development of the poultry sector in Ivory Coast," said Mamadou Touré...


KENYA:
Brookside Dairy increases its purchase price of raw milk from its suppliers by 16%:
Kenya's leading dairy company Brookside Dairy will now buy one litre of raw milk at 36 shillings from its suppliers, an increase of 16% over the previous price, reports Businessdailyafrica. According to the company, this move will allow producers to cope with the consequences of the prolonged drought, such as soaring feed costs. This increase should benefit 300 dairy cooperatives with nearly 160,000 farmers in the region...

The tea sector is slowing down due to the drought:
In Kenya, the prolonged drought is disrupting activities in the tea sector. Indeed, reports Bloomberg, the Tea Planters' Association (KTGA) now works 3 days out of 6 days normally scheduled due to insufficient leaf volume. According to Apollo Kiarii, the organization's executive director, nearly half of the workers were placed on leave or deployed to secondary tasks. This situation has already led to a halving of production at tea processing plants, says Bloomberg...


MALI:
The World Bank is increasing its budget support to the country sixfold, providing $250 million for 2019:
The World Bank has decided to multiply by six (6) the level of its budget support to Mali by an amount of $250 million (approximately 146.75 billion CFA francs) for the year 2019. A significant part of this support will be devoted to the restructuring of the energy sector. This decision was taken after discussions to support the Malian government's efforts, held on the margins of the 2019 Spring Meetings of the World Bank Group and the International Monetary Fund in Washington...


NIGERIA:
The government is seeking a $1 billion loan from the World Bank for its electricity sector:
Nigeria is in discussions with the World Bank for a $1 billion loan to develop its energy sector. This information was provided by Zainab Ahmed, the Minister of Finance. "We met with the World Bank's energy team and are looking at ways to get a $1 billion performance-based loan. We will take the appropriate steps to ensure that this project moves forward in a timely manner," said the Minister. According to Godwin Emefiele, the Governor of the Central Bank of Nigeria, the country's stability in terms of foreign exchange reserves should make it easier to attract foreign investment...