Browsing: Africa

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Nigeria’s oil production has fallen by 30 per cent in the last four years to 1.423 million barrels per day, mb/d in 2020 from 2.041 million barrels per day, mb/d in 2017.

This is according to a recent investigative study by the Organization of Petroleum Exporting Countries OPEC, which includes pipeline vandalism and oil theft in the Niger-Delta.

The figure excludes 2020 condensate production, according to the data obtained by Vanguard Energy from OPEC’s monthly market reports between 2017 and 2020.

ALSO READ: KQ to launch direct flights to Victoria Falls, Zimbabwe

The nation’s output declined by 19.3 per cent to 1.648 mb/d in 2018 from 2.041 mb/d in 2017 Year-on-year, YoY.

The production level, however, rose by 6.6 per cent to 1.765 mb/d in 2019 from 2018 figure before declining again by 19 per cent to 1.423 mb/d in 2020.

THE IMPACT

The gradual drop in output is a …

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The diplomatic ties between the two neighboring countries of Kenya and Somalia has been a bone of contention for months now, this is after Somalia severed diplomatic ties with Kenya in dead of night of December 14, 2020 citing interference and violation of her sovereignty and territorial integrity.

In announcement, Somalia Minister of Information Osman Abukar Dubbe said that cutting ties with Kenya at around 1:40 am Mogadishu time on state-run SNTV, hours after President Uhuru held talks with break-away Somaliland President Muse Bihi at State House, Nairobi, he said that Mogadishu will withdraw all its diplomats from Kenya and has ordered Kenyan diplomats to leave the country within 7 days.

But while everything to restore the diplomacy sanity between the two warrying nations proved to be a difficult thing Qatar stepped in overseeing the mediation of the whole process, in an interview Deputy Prime Minister and Minister of Foreign …

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South Africa discovers huge offshore gas deposits, has everyone excited - The Exchange

Within her first two months in the executive office. With Uganda, President Samia Suluhu Hassan and counterpart Yoweri Museveni inked an oil deal with Total and China’s CNOOC to start the construction of a $3.5 billion pipeline to export Ugandan crude oil to international markets.

Right after that, President Samia went on to Kenya where together with her Kenyan counterpart President Uhuru Kenyatta, she signed a pact to start working on a gas pipeline from Dar es Salaam to Mombasa.

In their subsequent speeches, the two leaders said the gas deal is part of a long-term project to share energy resources. Rebuilding wary diplomatic ties, Tanzania’s President Samia made it clear that the two countries will build more interconnecting infrastructure including roads and rail and that the gas pipeline was but a starting point.

“The Memorandum of Understanding (MoU) on Cooperation in Natural Gas Transportation means the countries’ ministers …

ECOWAS

ECOWAS countries in West Africa have long reasoned that the issue of food security cannot be left to a single country to shoulder. Instead, the regional bloc embraced the fact it takes collective efforts to secure the food security of a single nation and in so doing protect the whole region.

In is address to member countries during the ongoing virtual meeting, the ECOWAS Commissioner for Agriculture, Environment and Water Resources, Sékou Sangaré said the regional goal of stockpiling some 40, 000 metric tonnes of food reserve is a visionary course that will protect each member state of the sub region.

The conference begun on April 28th and will carry on through to May 10th. The conference falls is part and parcel of the EU-funded Support Project to the West African Food Security Storage System.

The Food Security Storage System came into being back in 2015 and …

KOTRA Kenya-Korea

However, long-term trends, assessed in decades rather than years, demonstrate that African countries are becoming increasingly appealing as investment locations. All of this is taking place in the world’s last demographic dividend region: Sub-Saharan Africa will soon be the only place on the planet with birth rates at or above replacement level. Telecommunications platforms, agribusiness, and energy are all emerging as new value chains.
However, the shift away from extractive sectors isn’t solely due to improved investment climates in Sub-Saharan Africa – extractives, for example, account for a lesser portion of total investment, but the rate fluctuates in reaction to oil prices. Other countries in the Global South have advanced, resulting in increased labour costs and mature consumer markets, implying reduced long-term profits.…

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The government of Tanzania is working on a blue print to increase sell of the country’s agro-produce by setting up bonded warehouses in foreign markets in a bid to boost sells.

The bonded warehouses will for starters be piloted in China and Saudi Arabia and are expected to ease access to markets for agro-produce.

Well first things first. What is a bonded warehouse? These are building or other secured areas in which dutiable goods may be stored or even manufacturing without payment of duty.

Bonded warehouses provide specialized storage services such as deep freezers for perishables as well as bulk liquid storage. They also allow for commodity processing and make up an integral part of the global supply chain by giving the importer opportunity to bring in raw goods, process, package and then sell the final product all under one roof with no duty charged.

Further still, bonded warehouses may …

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“The change of tone ushered in by President Samia Suluhu Hassan over the last month could indicate a welcome to a whole new economic direction in Tanzania’,” remarked Peter Leon, Partner and Africa Co-Chair, Herbert Smith Freehills

Investors have been wary of dipping their feet in Tanzania’s investment pool, more so investors in the extractive industries. In March 2017, a total ban on the export of unprocessed mineral concentrates and ores was instated.

Just four months later, in July 2017, after six days of deliberation, three new laws assented. The new laws gave significant power to the government, empowering it to control the extractives sector autonomously.

The three laws that were altered are:

  • The Natural Wealth and Resources Contracts (Review and Renegotiation of Unconscionable Terms) Act, 2017 (Unconscionable Terms Act);
  • The Natural Wealth and Resources (Permanent Sovereignty) Act, 2017 (Permanent Sovereignty Act); and
  • The Written Laws(Miscellaneous Amendments) Act, 2017 which
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Petition to Investigate Bill Gates for 'Crimes Against Humanity' Goes Viral | Neon Nettle in 2021 | Bill gates, Refugee crisis, Women in africa

When one of the World’s richest couples decides to divorce then yes we are all warrant to Tweet our P and Qs. So, as the social media world continues to dot the couples’ i’s and cross their t’s let as look at ‘the poor man’ in one of the World’s wealthiest people.

As of February this year, Bill Gates’ net worth of over $137 billion, keeping the world renown philanthropist right up their with the rest of the World’s richest people.

But that is not what makes Bill Gates standout, it is his willingness to aide the world’s poorest that sets him apart from the other World titans.

Only recently, through the Bill & Melinda Gates Foundation, Bill Gates, has set aside a $306 million package in agricultural development grants for Africa and other parts of the developing World.

Over the years, Bill Gates has invariably donated and granted Africa …

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It is early January, the World is still celebrating the new year , so is Somalia, the Horn of Africa. Two F-35B, single pilot airstrike jets strike at al-Shabaab operatives killing three members of the terrorist group, reported the U.S. Africa Command, AFRICOM.

AFRICOM - The Exchange (www.theexchange.africa)

An African Defense Post Abroad

The United States Africa Command (AFRICOM), is a joint military command body of the US for African military response against mainly terror threats.

However, AFRICOM is nowhere near Africa, on the contrary, it is across the seven seas in Europe, headquartered at Kelley Barracks, Stuttgart, Germany. Now Africa wants the command post brought closer to the continent, after all it was formed to address terror threats on the continent was it not?

During its formation in 2007, the White House announced that AFRICOM “will strengthen our security cooperation with Africa and create new opportunities to bolster the capabilities of our partners in …

A class of their own Commercial property HF

So…..one of the longest bull markets in history; the Covid-19 pandemic; two trillion dollars invested in a digital pyramid scheme (Bitcoin et al); government borrowing on an unprecedented level to deal with the pandemic; real trade tensions between China and the West; post-quantitative easing unemployment set to rocket; the stock markets being manipulated by large groups of retail investors; a new market dynamic caused by digitalisation; markets back to pre-Covid-19 levels……..what is an investor to do?! 

The only thing that is certain is that, in the words of Chinua Achebe, “Things Fall Apart”. It is not a matter of “if” but “when”. Most commentators would suggest that the “when” will be within a maximum of 24 months and many think much earlier.  

So if there is a global recession/depression on its way and if markets are going to undergo a substantial correction it makes sense to diversify