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Buhari: ECOWAS is under risk of dislocation as ECO currency will replaces CFA

The President of Nigeria, Muhammadu Buhari, spoke for the first time on Wednesday 24 June of a risk of dislocation of ECOWAS, in case of the arrival of the eco currency to replace the CFA franc by the WAEMU zone. Even if it is not a threat, Muhammadu Buhari’s statements show that the positions remain […]

Switzerland opens criminal investigation against Glencore for corruption in the DRC

It was the Anglo-Swiss trading, brokerage and materials extraction company that made the information public last Friday, after the stock exchange closed. Specializing in commodities trading, the group says it is willing to cooperate in the investigation. “It’s a stage victory” for the Swiss NGO Public Eye. In December 2017, it had filed a criminal […]

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AfDB grants Tunisia €180m to handle fallout from covid-19

The African Development Bank, AfDB, Wednesday approved a €180 million loan to finance Tunisia’s efforts to fight covid-19 and address economic and social impacts of the respiratory disease. The Abidjan-based bank in a statement said the credit aims at enabling Tunisia to bolster its response to the disease and alleviate the socio-economic impacts on vulnerable […]

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The AfDB has taken no action against its president Akinwumi Adesina

Urged by Washington to agree to an independent investigation of its President Akinwumi Adesina, accused of prevarication, the African Development Bank (AfDB) said on Thursday, May 28, that it had so far taken “no decision” on the case. Media reports on Wednesday announced that the Board of Governors had accepted U.S. Treasury Secretary Steven Mnuchin’s […]

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AfDB Grants €264 million to Morocco to help fight Covid 19

To support the “Covid-19 response support program” launched by Moroco, the Board of Directors of the African Development Bank (AfDB) has decided to grant €264 million to the kingdom. “The program’s primary objective is to help limit the spread of the virus and further improve the effectiveness of the authorities’ health response. It will thus […]

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Fight against desert locusts will take time, despite significant control gains – FAO Director

The Director-General of the Food and Agriculture Organization of (FAO), QU Dongyu, has warned that efforts to control desert locusts will take time, noting increased concern for the Sahel and Southwest Asia is adding to the burden of efforts ongoing in the Horn of Africa and Yemen. Qu was joined by the UN Under-Secretary General […]

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DR Congo: Government resumes income tax collection

The suspension of income tax collection in DR Congo, decided at the end of March to cushion the coronavirus crisis, will not have lasted the three months initially announced. Since last April, the authorities, wanting to mitigate the harmful effects of the pandemic on civil servants, had decided to suspend the 15% levy on the […]

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France adopted the bill rectifying the end of CFA franc

The bill ratifying the end of the CFA franc was adopted on Wednesday 20 May in the Council of Ministers by the French government. This text formally validates the transformation of the West African currency which will change its name to eco. It is a new step after the announcement made on December 21 by […]

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Coronavirus Lockdown Costs Morocco $100 Mln Per Day

The coronavirus lockdown, enforced in Morocco from March 20 to June 20, has been extended for three more weeks till June 10 to prevent the spread of the deadly virus. However, the two-month shutdown will cost the country a loss of 6 points of GDP in 2020, or a $100 million per day, said on […]

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COVID-19: Diaspora’s money transfer to Africa may decline by 23%

Remittances from the African diaspora are expected to decline by 23% this year due to the COVID-19 pandemic and its economic consequences. This year, the World Bank predicts that remittances from the diaspora to sub-Saharan Africa will fall by 23%. They currently represent 48 billion dollars. The problem is not only African, it is global, […]

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