News and economy

Cocoa producers in Ivory Coast don’t like what they see

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Investment in Ivory Coast’s cocoa industry appears to be slowing down in the wake of military unrest. The country that produces about 40% of the world’s cocoa has enjoyed relative stability and has been growing rapidly since the end of the civil war that lasted nearly a decade ending 2011.

Ghana’s services sector is the highest contributor to job creation. The country wants to double trade with the UK, which currently stands at about 3.5% of international trade or about a billion dollars per year.

Kenya’s central bank Monetary Policy Committee held its key rate at 10% noting that it foresees inflation remaining below its upper limit of 7.5% though the currency is facing significant pressure. Economic growth is expected to slip to 5.7 percent in 2017 from about 5.9 percent in 2016.

The Africa Development Bank (AfDB) is reportedly going to restructure loans to Uganda for electrical infrastructure development.

It has emerged that about 20 mining companies were sanctioned by Nigeria’s government for non-compliance to mining laws and regulations.

Business confidence in Mauritius rose 4.9% in the last quarter of 2016, a survey of leading private companies showed on Tuesday.

South Africa’s private sector credit demand growth quickened in December to 5.11 percent year-on-year from 4.6 percent in November.

Corporate News

South Africa’s Nando’s is reportedly considering going public.

Bharti Airtel has refuted media reports it may cease its operations in all 15 countries across Africa by end of the year saying it remains “remains committed to Africa and will continue to invest in its operations to grow”.