The Pan-African Economy in Brief: Thursday, August 9, 2018
Tax exemptions for 74 billion CFA francs of planned investments in hotels, agro-food, agro-forestry, etc.: "The Cameroon Investment Promotion Agency (API) signed in Yaoundé, the country's capital, on August 6, 2018, a series of agreements with economic operators with investment projects in the hotel, agro-food and agro-forestry sectors. These agreements enable these economic operators, whose ambition is to invest a total of 74 billion CFA francs on the Cameroonian territory, to benefit from the provisions of the 2013 law on incentives for private investment in the Republic of Cameroon. As a reminder, this law revised in 2017 grants investors tax and customs exemptions ranging from 5 to 10 years, both during the start-up and production phases of their companies..."
Tea production increased by 15% in the first half: "In Kenya, the tea harvest increased by 15% in the first half of 2018, the tea board announced. According to figures released by the sector regulator, the cumulative volume from January to June stood at 230,000 tons against 200,000 tons a year earlier at the same period. This positive trend is mainly the result of mild weather conditions marked by a long rainy season in most production areas. In addition, indicates the board, during this period, approximately 28,000 tons of sheet went through the Mombasa auction, an improvement of nearly 22% compared to the stock of 2017, 23,000 tons..."
New ranking of major players in the oil sector: "The main oil sector operators in Gabon are, in order of merit, Perenco, Assala Energy, Total, Addax Petroleum, Maurel and Prom, Vaalco and CNR, according to information gathered by Financial Afrik. Mainly active in the United Kingdom, Central Africa (Cameroon, Gabon, Congo-Brazzaville, Congo-Kinshasa), Latin America (Guatemala, Colombia, Peru and Venezuela), the Mediterranean region (Tunisia, Turkey), Vietnam and Trinidad and Tobago, the independent Franco-British oil company Perenco, now Gabon's leading oil company in terms of the quantity of barrels produced per day, is thus replacing the incumbent operator Total Gabon, while Assala Energy is sandwiched between the two majors..."
NSIA Bank Guinea recapitalised at 6 million euros under pressure from the regulator: "The NSIA Group of the Ivorian entrepreneur and businessman, Jean Kacou DIAGOU, began at the beginning of last week the review of the accounts of the subsidiaries Banking, Insurance, Finance in Abidjan. Léonce YACE well installed in his seat of General Manager of NSIA BANK CI accelerates the structuring of the empire DIAGOU (banks, insurances) after the black series of defenestration of the high executives of the company ( Philippe ATOBRA, of AMO DELE EGUE, Martin DJEDJES). Since August 1st, Adou Paul ATTEY, who was the Audit Director of NSIA BANK GUINEA, has also been on the scaffold. Computer graphics..."
The EU calls for the re-establishment of social networks: "Internet Sans Frontières congratulates the European Union election observation mission in Mali on its position in favour of freedom of expression. The mission, led by former Italian minister Cécile Kyenge, calls on the "Malian authorities to guarantee unimpeded access to the Internet and social networks", in a statement published on August 7, 2018. On July 29, 2018, the day of the presidential election, access to the most popular social networks was blocked at the main operator of the country, according to the survey published by Internet Sans Frontières, and according to the observations of our sisters from the community of bloggers of Mali..."
Internal economic activity was up 6.9% year-on-year: "The Directorate of Economic Forecasting and Studies (Dpee) points out that in June 2018 the economic activity (excluding agriculture and forestry) increased slightly by 0.3%, in monthly variation. According to the Dpee, this development is mainly driven by the tertiary sector (+1.7%) and public administration (+0.2%). However, the secondary and primary sectors fell by 10.1% and 5.2% respectively over the period. On an annual basis, growth of 6.9% in activity excluding agriculture and forestry was noted in June 2018, thanks to good overall growth in the tertiary (+6.9%), secondary (+6.0%), primary (+10.8%) and public administration (+6.8%) sectors..."
Result Burkina Faso Treasury Bonds : 25, 097930 billion CFA francs in the coffers: "The issue of treasury bonds by auction by the Directorate General of Treasury and Public Accounting of Burkina Faso, covering an amount of 50 billion and different maturities, recorded a coverage rate of 63.24% of the amount put up for tender, announced the West African regional debt planning agency UMOA Titres in a press release. According to the report of auctions of treasury bonds browsed by the Senegalese economic newspaper (LEJECOS), the Burkinabe treasury has recorded in its books the sum of 25.097930 billion CFA francs, including 0 billion in non-competitive bidding (ONC)..."