Monday, August 31

Investing

DRC in the EAC. The world's best placed economic bloc?  www.theexchange.africa

The poor roads in the DRC and the level of insecurity in the country make it difficult and costly to move these mineral resources to the Atlantic port. This makes DRCs decision to join the EAC their most viable option. 

A state-owned shipping line from the Congo, the Lignes Maritimes Congolaises (LMC), has already set base in Kenya and plans to start its operation in Mombasa starting this June. 

The shipping line seeks to channel more exports and imports goods through the port of Mombasa. 

WHEAT HARVESTING

Dangote also plans to launch an oil refinery that would produce 650,000 barrels per day. Currently, the Dangote Group is the second-largest employer in Nigeria after the federal government, and a new plant is a tremendous opportunity to replace Russian fertilizer imports with African jobs that create warehousing, transport, and logistics infrastructure that help to reduce poverty.

Global wheat, sunflower, and oil crude prices have soared to unprecedented levels. Africa is heavily reliant on food imports from both countries, and the Continent is already experiencing price shocks and disruptions in the supply chain of these commodities.

Over the past decade, the Continent has seen growing demand for cereal crops, including wheat and sunflower, which has been mainly supported by imports than local production. Africa’s wheat imports increased by 68 per cent between 2007 to 2019, surging to 47 million tonnes.

🚀 Stay Ahead. Join Our WhatsApp Channel
The Exchange Africa News WhatsApp channel
Enable Notifications OK No thanks