Author: Albert Savana

The Democratic Republic of Congo should benefit from the upward trend of its main mining export products on the international market during the week of February 21 to 26, 2022, like copper sold at more than 10,000 USD per ton. against 9,825.80 USD per ton the previous week, with a positive price difference of 180.3 USD. Projections by experts from the National Mercurial Commission of the Ministry of Foreign Trade indicate that zinc is selling at 3,657.30 USD per ton against 3,631.95 USD last week, a positive price difference of 25.35 USD. The same goes for tin, the price of…

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Egypt and Sudan each condemned, on Monday, February 21, the start of electricity production from the Grand Renaissance Dam (GERD) by the Ethiopian authorities. A project which, since its launch in 2011, has been a dispute between Ethiopia and its neighbors located downstream of the Nile. In a statement, the Egyptian Foreign Ministry set the tone, saying it was a “unilateral operation of the dam in deliberate violation of the declaration of principles signed in 2015 by the Ethiopian Prime Minister”. Adding that this inauguration is a “threat to regional stability”. For its part, Khartoum condemned a “unilateral measure” by…

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The activities of the Gabonese subsidiary of the French group TotalEnergies are on the rise again after a stagnation following the outbreak of the health crisis linked to the Coronavirus. A revival of activities which resulted in a turnover of 655 million dollars in 2021 against 435 million dollars for 2020, which represents an increase of 51%. A strong increase which is explained in particular by the rise in the selling price of oil on the international market, i.e. 64.8 dollars per barrel, an increase of more than 100% compared to the previous year in the average price of Brent…

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After a first postponement in October 2021 for reasons not previously mentioned, the cybersecurity summit co-organized by Togo and the United Nations Economic Commission for Africa (ECA) will be held on March 23 and 24, 2022 in Lomé, according to an announcement made this Monday, February 21. Initially scheduled for October 25 and 26 in the Togolese capital, this meeting will bring together public sector decision-makers as well as private sector leaders to “understand the strategic issues related to cybersecurity”, “grasp the latest sectoral trends through high-level panels, thematic workshops and Keynotes facilitated by cybersecurity experts” and “sharing their experiences”.…

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The road and rail infrastructure development project of the Douala-Ndjamena corridor linking Cameroon to Chad with a total investment of 471 billion FCFA, or 816 million dollars is on the right track. The World Bank (WB) has approved financing of 311 billion FCFA (538 million dollars) consisting of a loan of 181 billion FCFA (313 million dollars) for Cameroon and a grant of 130 billion FCFA ($225 million) for Chad. The first disbursements will be available this year, assured the World Bank. While the works should be delivered in 2031 in accordance with the specifications agreed by this international financial…

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The turnover of the Société Générale Industrielle de Filtration (GIF FILTER) SA, specializing in the manufacture and marketing of fuel and oil filters, recorded a sharp drop of 1.427 million dinars (435,645 euros) in end of the 2021 financial year compared to the same period of 2020, announced the managers of this company based in Grombalia (40 km south-east of Tunis). This turnover amounted to 1.276 million dinars as of December 31, 2021 against 2.703 million dinars a year earlier, i.e. a drop of 53%. This decline is mainly caused by export sales with a sharp drop of 100%. Indeed,…

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The central bank of Rwanda announced on February 17, 2022 that it had raised its key rate by 50 basis points to 5%. A decision taken by its monetary policy committee meeting on February 15 and which analyzed recent economic developments in the country. “To ensure that inflation is contained at an adequate level while continuing to support the economic recovery, the MPC committee has decided to increase its key CBR rate (intended to regulate short-term interbank lending rates) from 50 basis points to 5%”, reads a note from the issuing institute signed by Governor John Rwangombwa. Who adds that…

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As the 6th summit between the European Union and the African Union opened in Brussels on Thursday February 17, Emmanuel Macron delivered a panegyric on his African policy the day before. But his counterpart for the African Union, Macky Sall, expects more from Europe than a semantic change. By Christine Holzbauer. Relations between Africa and Europe must be overhauled in order to achieve a true partnership for the benefit of Africa. The speeches by Macky Sall and Emmanuel Macron on the eve of the 6th European Union/African Union summit (February 17-18), in Paris, set the tone for what this “new…

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The ultra-high-grade Kipushi Mine, with an average grade of 36.4% zinc in the first five years of production, will be returned to commercial production under a new agreement signed by Kipushi Holding, a 100% subsidiary of Ivanhoe Mines, and Gécamines, the Société Générale des Carrières et des Mines de la RDC. Both parties made the announcement on February 15, 2022. “We recently witnessed the exceptional achievements of Ivanhoe in transforming the Kamoa-Kakula joint venture into a leading copper producer of the highest standards, now a benchmark on the Congolese Copperbelt. Ivanohe and Gécamines have also redefined the Kipushi project fairly,…

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The Egyptian economy recorded a growth of 9% in the first half of the financial year 2021/22, after achievements of 9.8% and 8.3% respectively in the first and second quarters of the period under review. Announcement made by Prime Minister Mostafa Madbouly who was facing the press on Wednesday February 16 in Cairo. At this level, the Egyptian authorities expect economic growth of 6% in the calendar year 2022, which is one of the highest growth rates in the world. In addition, the leading economy in the North Africa region forecasts growth of 5.7% of its GDP for the 2022-2023…

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The turnover of the Société Tunisienne d’Email (SOTEMAIL), which specializes in the production and marketing of ceramic tiles and porcelain stoneware for floor and wall coverings, recorded an increase of 31% at the end of the financial year 2021 compared to that of 2020, announced the managers of this company based in Monastir (162 km south of Tunis). The total of this turnover has indeed increased from 47.560 million dinars as of December 31, 2020 to 62.236 million dinars as of December 31, 2021, an increase of 14.676 million dinars. This makes the leaders of SOTEMAIL say that their company…

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Suspicious death, on the run and in custody. Here is the big Guinean thriller that keeps the Pandoras of Scotland Yard awake. The man who led the Central Bank of the Republic of Guinea (BCRG) for more than ten years (from 2010 to 2021) under Alpha Condé, is plunged into turmoil against the backdrop of a refining contract affair, storage and sale of gold between the BCRG and the Belgian refiner AFFINOR. Sacked by Colonel Mamadi Doumbouya on December 7, 2021, Dr Louncény NABE has since been regularly placed in police custody and interviewed at the Central Directorate of Judicial…

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CDC Group, the UK’s development finance institution, announced on February 14, 2022 its base commitment of USD 30 million as part of Axian Telecom’s inaugural 5-year USD 420 million public bond issue to support the extension of its network in Africa. “Affordable mobile and data services are a vital component of any economy and investments in underdeveloped telecommunications markets are therefore central to CDC’s strategy in Africa. Our engagement in this bond financing supports the raising of private capital from institutions less familiar with Axian Telecom’s markets,” said Richard Palmer, head of corporate debt at CDC. According to a note…

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The president of Pepsi, Ravi Jaipuria, announced on February 12, 2022 in Kinshasa, the start of the group’s investments in the DRC with the kick-off, next April, of the construction site of a factory in the Congolese capital and a another in Lubumbashi (Haut-Katanga) to initiate the local manufacture of drinks and the entire range of the world-renowned brand. “This is a large capital investment. We are going to set up a factory here in Kinshasa and another in Lubumbashi. Soon the Congolese will be consumers of a very good product at a good price. It will be a full…

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