The Pan-African Economy in Brief: Tuesday, February 23, 2021
A second filling next July and an operational dam from 2023:
Ethiopia intends to respect its schedule for the completion of the Great Renaissance hydroelectric power plant. Seleshi Bekele, the Ethiopian Minister of Water, Irrigation and Energy has stated that the dam will be operational by 2023 as planned. After the success of the first phase of filling its reservoir, which started in July 2020, the country plans to launch the second phase during the rainy season expected in July 2021.
IMF validates $57 million disbursement to strengthen post-Covid19 social spending:
Mali will benefit from $57.6 million in financing from the International Monetary Fund (IMF). This was announced by the institution in a press release issued on Monday, February 22, 2021. The financing follows the completion of the second and third performance reviews of the Malian government, as part of the economic reform program supported by a $191.9 million Extended Credit Facility (ECF).
The industrial cashew processing zone of Bondoukou will be launched in early 2022 at the latest:
In Côte d'Ivoire, the industrial zone of Bondonkou dedicated to cashew nut processing will be operational by early next year at the latest. This is what Adama Coulibaly, Director General of the Cotton and Cashew Nut Council (CCA), told the Africa Press Agency (APA). Covering 15 hectares, this area which will be the first of its kind in the country will be able to accommodate 3 to 5 treatment units.
EbonyLife defends itself from having violated copyright in the production of the film Oloturé:
Mo Abudu, the founder of the Nigerian studio EbonyLife, refuted accusations that she violated copyright laws and regulations in the production of the hit film "Oloturé." Award-winning investigative journalist Tobore Ovuorie said much of the film was inspired by her work on sex trafficking for the Premium Times newspaper. The journalist had infiltrated a group of prostitutes in 2014 to expose their living conditions. She condemned the fact that her story was included in the film without her permission.
OPEC Fund for International Development disburses $50 million to fight poverty:
The OPEC Fund for International Development (OFID) announced on Friday, February 19, 2021, the signing of a loan agreement for Tanzania. The agreement provides for the allocation of $50 million to help finance the country's fourth poverty reduction project.