THE ECONOMIC MAGAZINE OF NATURAL RESOURCES IN AFRICA
In the battle over the Nile between Egypt, Sudan and Ethiopia, this may be the last chance for diplomacy and conciliation. The Congolese presidency announced on March 30 that Felix Tshisekedi will soon host a round of negotiations between Cairo, Khartoum and Addis Ababa over the Ethiopian Renaissance Dam.
The Ivorian banana industry remains on a positive note despite the crisis, retaining its position as the leading African producer.
Marked by uncertainty due to the Covid-19 pandemic, the year 2021 should confirm the yellow metal’s status as a safe haven, according to the World Gold Council (WGC).
Badly hit by the economic crisis caused by the Covid-19 pandemic, several African countries have seen their currencies depreciate over the past year. This unfavorable situation is a reminder, if need be, that the continent’s currencies are often vulnerable to external shocks. However, there are solutions, such as the exchange rate hedges offered by the Dutch development fund TCX, a financial vehicle designed to combat currency volatility in emerging countries. For Ressources, Isabelle Lessedjina, Senior Vice President at TCX, explains the concept of the fund as well as its ambitions for Africa.
Joanne Lebert, Executive Director of Impact: « Mining smuggling is more omnipresent than ever in the DRC ». »
Driven by a high price, African gold has never been in greater demand. A favorable situation that nevertheless contributes to reinforcing the illicit trade, denounces the Canadian NGO Impact, active on issues related to the governance of natural resources.
While the IMF estimates a 3 percent drop in the region’s GDP in 2020, not all countries will be equally affected. Commodity exporting countries are among those most affected. A review of the 5 African economies that will lose the most this year.
A traditional partner of the Senegalese peanut industry, ITFC, a subsidiary of the Islamic Development Bank specialized in trade finance, approved on November 17 the awarding of a new grant to Sonacos (Senegal’s national oilseed marketing company).
Launched in 2012 to support the Rwandan authorities’ ambition to make the country of the Thousand Hills a low-carbon and climate-resilient economy by 2050, the Rwanda Green Fund will change its mind. Following the last meeting of the presidential cabinet, held on Wednesday, July 15, Teddy Mugabo was appointed chief executive officer of the institution, better known as FONERWA in Rwanda. Until now head of business development of FONERWA, the new leader will have the task of continuing the efforts made by the previous management to succeed in the challenge of climate transition. This includes providing financial resources for all kinds of initiatives considered « eco-friendly »: community rooftop rainwater harvesting systems, waste management, affordable zero-carbon housing, a 500-kW hydroelectric power plant along the Gaseke River, etc.