(Ecofin Agency) - The government of Benin adopted this week its Finance Act for 2020. The new budget of 1,986.9 billion CFA Francs ($3.3 billion) is 5.8% higher than the 1,877 billion CFA Francs ($3.1 billion) adopted in 2019.
Africa Link Special Reports
Russia-Africa trade reached $20 bln in 2018, with $14.5 bln surplus for Russia
President Vladimir Putin
(Ecofin Agency) - Exchange between Africa and Russia last year reached a total of $20 billion, we learnt. While the black continent imported $17.4 billion worth of goods, it sold only $3 billion to Russia, making a $14.5 billion for Vladimir Putin’s country.
Sierra Leone gets $1.5 mln FMO loan to support micro and small businesses
(Ecofin Agency) - The Sierra Leonean microfinance institution A Call to Business Savings and Loans (ACTB) will receive $1.5 million from the Dutch Development Finance Fund (FMO) as the Fund’s first commitment to the West African country’s financial sector.
Chinese companies to invest $1.4 bln in energy and mining in Africa
(Ecofin Agency) - Some Chinese companies committed to invest $1.4 billion in energy and mining projects in Africa. They expressed their intention during the visit to Beijing of the African Chamber of Energy (CAE), an organization bringing together government actors and companies involved in the development of the African energy sector.
Angola Cables joins TM Global to connect Asia to South America via optical fiber
(Ecofin Agency) - Optical fiber Internet provider Angola Cables and TM Global, the wholesale arm of Telekom Malaysia Berhad, entered into a partnership to connect Asia to South America via a submarine optical fiber.
Kenya to introduce new banknotes to curb illicit financial flows
The Central Bank of Kenya (CBK) will introduce new banknotes, Patrick Njoroge (photo), the governor, announced last weekend.
Morocco: Maroc Telecom commits $1bln to improve telecom sector
(Ecofin Agency) -Maroc Telecom announced on August 26 it has signed an investment deal with the government for MAD10 billion (about a billion dollars). Funds, disbursed by the incumbent operator, will be pumped into the development and strengthening of telecommunications infrastructure, broadband and very high speed (mobile and fixed) deployment across the country.
Nigeria: MTN pays last tranche of $1.6 bln fine
NIGERIA -- MTN Nigeria has paid the whole $1.6 billion fine it received in 2015 for not deactivating 5.1 million unregistered SIM cards. The operator has indeed paid the NGN55 billion, which is the sixth and last tranche of these payments started in 2016.