The Pan-African Economy in Brief: Tuesday, October 12, 2021
Thomas Sankara trial postponed to October 25:
The trial of the assassination of revolutionary Thomas Sankara, which opened on Monday, October 11, has been postponed to October 25 at the request of two defense lawyers. They expressed the need to have more time to consult all the documents in the file that was sent to them a month before the trial. Mr. Urbain Méda, president of the military court of Ouagadougou, has therefore decided to postpone this trial, long awaited by the people of Burkina Faso who consider Thomas Sankara to be the father of the Revolution.
Jobs return sparks optimism for banks, but caution remains:
Rising payroll taxes and details of the cost of production index for businesses signal a return of jobs in Kenya, favorable for bank activity. Caution is still warranted, however. Some business owners are showing reservations about the future.
Uganda appeals to Kenya to resolve milk trade dispute:
In Uganda, the government has invited delegations from the Kenyan ministries of agriculture and trade to Kampala for talks to resolve the disruption in the milk trade between the two countries. Indeed, trade in dairy products between the two countries is slowing down due to restrictions imposed by Kenya. Last August, the country imposed a 7% surcharge on imports of the commodity from Uganda.
Vodacom launches VodaPay, an AI-based payment super-app:
South African mobile operator Vodacom has officially launched VodaPay, its artificial intelligence-based super-app. The app is available to all smartphone users (Android and iOS) in South Africa, regardless of their mobile network.
$140 million will finally be enough to start lithium production at Arcadia:
Mining company Prospect Resources released an optimized feasibility study (OFS) for its Arcadia project on October 11. Based on a two-stage development and carried out by the Australian firm Lycopodium, it reduces the capital needed to launch production at this future lithium mine in Zimbabwe.