The story of your NESCAFÉ begins long before it reaches your cup. The tiny coffee bean, which is dried, roasted and ground into the powder that you brew for your coffee, is deeply rooted in West Africa, touching many lives.
(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.
(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.
(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.
(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.
(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.
(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.
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.
The Central Bank of Kenya (CBK) will introduce new banknotes, Patrick Njoroge (photo), the governor, announced last weekend.
LIBYA -- The national unity government (GNA) has threatened to suspend the activities of 40 European firms among them Total and Siemens operating in the country.
Government’s political will is to ensure the tough enforcement of the implementation of the National Minimum Wage (NMW).
Former Congolese President Joseph Kabila wanted his successor, Felix Tshisekedi, to appoint Albert Yuma, a Kabila ally and chairman of state mining company Gecamines, as prime minister, but Tshisekedi refused, sources familiar with the matter said.
LIBERIA - The President, His Excellency Dr. George Manneh Weah, has signed into law two major legal instruments, the Kamara Abdullah Kamara (KAK) Act of Press Freedom and the Act to name certain Roads and Bridges within the Republic of Liberia.