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The Pan-African Economy in Brief: Wednesday, November 20, 2019

Côte d’Ivoire:
The financial inclusion rate in WAEMU increased from 47.0% in 2016 to 57.1% at the end of 2018 (BCEAO):
The financial inclusion rate in the West African Economic and Monetary Union has increased significantly since 2016. This is one of the lessons to be learned from efforts to promote inclusive finance in the Union. At the opening of Financial Inclusion Week on Monday, November 18, 2019, at BCEAO headquarters in Dakar, Governor Tiémoko Meyliet Koné reported on the good financial inclusion figures in UEMOA. But the BCEAO does not intend to stop there. "The financial inclusion rate stood at 57.1% at the end of 2018, compared to 47.0% in 2016, an increase of more than 10 percentage points," said Governor Tiémoko Meyliet Koné...


Nigeria:
Fertilizers: OCP plans to commission a Nigerian ammonia plant before the end of 2023 - JeuneAfrique.com :
This project, which is expected to triple the supply of fertilizers to Nigeria by the Cherifian Phosphate Office, will also allow the group to bypass the ban on fertilizer imports decided by the Nigerian President in March this year. The Cherifian Phosphate Office is planning to start production at its future ammonia plant in Nigeria before the end of 2023. This project, valued at $1.3 billion, is part of the Office's ambition to strengthen its investments throughout the African continent, for which OCP has specifically created a subsidiary. Other plant projects are being prepared in Ethiopia and Ghana. The plant in question will be located in the south-east of the country, where natural gas deposits have been identified as necessary for the production of ammonia, which is itself necessary for the production of nitrogen fertilizers, Mohammed Hettiti, director of the OCP in Nigeria, told Reuters agency...


Malawi:
Norway is injecting $4.4 million into the agricultural sector:
Norway has just allocated SEK 40 million ($4.4 million) to Malawi for the second phase of the Comprehensive Approach to Agriculture (ASWAp SP II) programme. The funds will be channelled through the Multi-Donor Trust Fund (MDTF) managed by the World Bank. This framework programme for priority investments in the agricultural sector aims to increase production, productivity and diversification of production. Promoting climate-resilient technologies, new agricultural varieties and improved agricultural practices, it runs from 2018 to 2021. It is expected to reach 350,000 people in 12 districts across the country...


Madagascar:
The World Bank is providing $140 million to support the modernization of rural transport:
The project to support rural transport connectivity in Madagascar will be stepped up. On November 15, the World Bank approved a $140 million credit to support the country's efforts to improve transport connectivity in some rural areas and, at the same time, community access to economic and social opportunities. As part of this project, the agricultural regions of Alaotra Mangoro, Anosy and Atsimo-Atsinanana have been identified as priorities. In the first phase, they will benefit from the construction and rehabilitation of 148 km of secondary roads and 500 km of provincial and municipal roads...


Benin:
AfDB announces $372 million investment in 2020:
Benin will benefit from a $372 million investment from the African Development Bank (AfDB) in 2020. This was announced last week by John Andrianarisata, the representative of the banking institution in the country. According to the official, this investment will be made in eight projects in key sectors of the national economy, namely agriculture, transport, energy and sanitation. It is part of the AfDB's 2017-2021 programme, which aims to accelerate the structural transformation of Benin's economy for inclusive growth that generates decent jobs, while ensuring the transition to a green economy...