Author: Valerie Koudamenou

According to the figures published by the Ministry of Economy and Finance of Morocco by its Directorate of Studies and Financial Forecasts (DEPF), the gross levees of the Treasury reached 115.1 billion dirhams (about 11.5 billion USD) ) in 2018, an increase of 4% compared to 2017. The same source indicates that net debits increased by 10.6% to reach 29.5 billion dirhams (MMDH) thanks to the Treasury’s repayments which rose to 85.6 billion MMDH in 2018. According to the DEPF, the increase gross treasury bills cover the increase in subscribed volume, with average maturities of 19.8% to reach 74 billion…

In Guinea, the Office of the African Development Bank (AfDB) has signed with the Ministry of Planning and Economic Development two memoranda of grant and loan agreements for a total amount of USD 11 million. It was January 18, 2019 in Conakry. This fund is intended to finance the project to support the transformation of Guinean agriculture and youth agricultural entrepreneurship (PATAG EAJ), covering 89% of total funding. “The project will support agricultural processing units and contribute to the dissemination of innovative techniques that can increase the productivity of young people and women, in line with the Bank’s Technology for…

On 22 January 2019, King Mohammed VI inaugurated Terminal 1 at Mohammed V International Airport in Casablanca as part of an extension, redevelopment and modernization project that required an investment of nearly 2 billion dirhams. (about 183 million euros). Funded primarily from National Airport Office (ONDA) capital, the site is expecting 14 million passengers annually, and will serve as a major airport hub in the region and in Africa. It is built on an area of ​​76,000 m² and has eight new aircraft parking spaces, including three dedicated to the Airbus 380. At the same time, the sovereign launched the…

The director general of the National Pension Fund (CNR), Slimane Mellouka, said on January 23, 2019 that the financial deficit of the institution will know a stability soon. “There will be some stability in the financial deficit of the fund in the coming years, since there has been a regression of pension records in 2018 with the repeal of provisions for retirement before the legal age. Also, we foresee a transition from the deficit of the order of 600 to 610 billion dinar Algerian in 2019, “he said on a local radio. Slimane Mellouka recalled, moreover, the measures already taken…

Egyptian oil minister Tarek El Molla announced on January 20, 2019 in Cairo that the country will upgrade six of its oil refineries at a cost of about US $ 9 billion. Objective, secure its supply of hydrocarbons and create significant reserves to no longer suffer fluctuations in oil prices on the world markets. “We are trying to secure supplies of crude oil from Egyptian refineries to increase local production of refined products,” he said. According to Tarek El Molla, “investment over a four-year period will boost domestic production to 41 million tonnes per year”. The country has proven reserves…

The Mayor of Cotonou City, Isidore Gnonlonfoun, and the National Coordinator of the Millennium Challenge Account-Benin II, Gabriel Dégbégni, signed an agreement on 22 January 2019 for the construction of some solar power plants in the Beninese capital. Objective, to provide people with energy quality, efficient and reliable to reduce the energy deficit in the city. “Energy is a major input without which nothing is possible. The implementation of this compact 2 which aims to increase the availability of energy will help to largely overcome the problems related to the continuity of electrical energy, “said Isidore Gnonlonfoun. The two sites…

Nigerian Prime Minister Brigi Rafini launched on January 19, 2019 in Niamey, a program called “Transformers Tour” initiated by the Islamic Development Bank (IDB). It aims to promote science and technology in the Sahel country. “Science and technology is a new model of entrepreneurship for development through a strengthening of competitiveness, value chain, based on new technologies,” said Bandar Al Hajjar, president of the IDB at the launching ceremony. “The Bank’s interventions included major investment projects in the areas of rural development, road infrastructure, energy, education, health and hydraulics. have significantly contributed to improving the conditions of the Nigerien populations,…

Egypt’s Minister of Transport, Hisham Arafat, announced on January 16, 2019 that Chinese import-export bank, China Eximbank, has granted a loan of 1.2 billion USD to the country to finance the construction of a subway line light linking Cairo to the new administrative capital, 68 km long. This is a 5-year repayable loan with an interest rate of 1.8%. USD 461 million is earmarked for infrastructure financing and USD 739 million for rolling stock. “Five public companies and three private companies are involved in the construction of the light rail network,” said Hisham Arafat, adding that the project should be…

The South Korean national airline Korean Air took over the Seoul Cairo line on January 11, 2019, carrying 209 tourists, thus showing the prospect of an effective resumption of regular flights between South Korea and Egypt. Indeed, it is after seven years of cessation that the airline, by a flight from Seoul, has again joined the international airport of the Egyptian capital. It has scheduled the resumption of its scheduled direct flights in February Established in 1969, Korean Air is a South Korean private airline based in Seoul.

On January 15, 2019, the Tunisian parliament approved a loan from the International Bank for Reconstruction and Development (IBRD) worth € 81.2 million to the government. “This credit will be used to finance a project to support the quality of the education system at the primary education level,” said Zied Ladhari, Minister of Development, Investment and International Cooperation. “Increasing the number of beneficiaries of pre-school education, building the capacity of children in reading and mathematics, improving the skills of teachers, managing schools, evaluating pupils and fighting against drop-outs are also among the key objectives of the agreement, “he added. According…

The airline Air Djibouti is preparing to launch flights connecting the capital to other cities in the country. On January 14, 2018, the carrier signed a partnership agreement with the National Tourist Board to serve airports within the country. According to the signatories of this agreement, the objective is to promote tourism in Djibouti, including domestic tourism. As a reminder, in April 2018, Djibouti was designated the world capital of tourism and culture for 2018. A distinction that President Guelleh commented on as “an encouragement to persevere on the path we have set for tourism development. “. It should be…

The airline Ethiopian Airlines will be equipped with WheelTug’s electric taxiing devices for its 737 fleet. The aim is to reduce fuel consumption costs during pushing and taxiing. A contract to this effect has been signed with WheelTug Plc, the Gibraltar-based company. “We are pleased to collaborate with WheelTug, the world’s leading innovator in electric towing aircraft. Ethiopian Airlines has always been at the forefront of technology in Africa. Being the continent’s largest airline offering more convenient connections, Ethiopian Airlines now attracts more passengers to Africa than any other carrier and WheelTug will help it provide the best possible travel…

The Central Bank of West African States (BCEAO) announced on January 12, 2019 that the average amount of weekly bids on the auction market reached CFAF 3,350.3 billion in November 2018, up 169.2 billion compared to the previous month (3 181.1 billion). According to the same source, the average amount withheld from the auctioning operations also increased during the period under review, rising from 3,087.4 billion in October 2018 to 3,239.7 billion. Similarly, the weighted average rate on the weekly window was 4.09% in November 2018 against 3.51% for October 2018, thus increasing by 0.58 percentage point. Based in Dakar,…