Browsing: Burkina Faso

Military takeover in Niger
  • Months after the Military takeover in Niger, the African Development Bank (AfDB) forecasts the country’s GDP to jump by 11.2 per cent in 2024, following growth of 4.3 per cent in 2023.
  • Niger has removed its military support agreements with the French and the US, respectively.
  • Niger becomes the third country, following Mali and Burkina Faso, to experience a military takeover.

Growth projections after the Military takeover in Niger

“Imperialist France”, “Down with France”, and “Chani (name of the Niger coup leader)” are a few energetic words chanted by the thousands of supporters and demonstrators who demanded the French troops leave Niger.

The latter reflects what is now referred to by the military regime as a people-led democracy. The question that then arises is; Could Africa be experiencing a withdrawal period from the grim historical chains of its colonial era, particularly the Francophone nations, Niger to be exact? (colburnschool.edu

West Africa's Hunger Crisis
  • In West Africa, half of the 11.6 million individuals, who were set to receive food aid between June to August, will not get any support.
  • Only about 6.2 million people will get support. They are mainly refugees, displaced individuals, malnourished children under the age of 5, pregnant and breastfeeding women, and girls.
  • Populations at risk as spread across Burkina Faso, Chad, Central African Republic, Cameroon, Mali, Mauritania, Niger, and north-eastern Nigeria.

Millions of people grappling with West Africa’s hunger crisis will not receive emergency assistance between June and September due to limited funding. According to the World Food Programme (WFP), almost half of the 11.6 million individuals, who were set to receive food aid between June to August, will not get any assistance.

The shock revelation comes as WFP and authorities in the Sahel region struggle with the worst hunger crisis in 10 years.

Populations in Mali and Chad will …

IFC 23
  • Burkina Faso’s largest microfinance institution ACEP Burkina has received $2 million from the International Finance Corporation (IFC).  
  • The loan facility will allow ACEP to ramp up access to longer-term finance for agri-sector MSMEs, smallholder farmers, and businesses in rural food chains in Burkina Faso.
  • The financing will also help improve ACEP Burkina’s liquidity and support the company’s expansion of its mobile banking and access to credit services for rural MSMEs.

Burkina Faso’s largest microfinance institution ACEP Burkina has received $ 2 million from the International Finance Corporation (IFC) aimed at improving access to finance for farmers and micro, small and medium sized enterprises. 

The loan facility will allow ACEP to ramp up access to longer-term finance for agri-sector MSMEs, smallholder farmers, and businesses in rural food chains in Burkina Faso, including women-owned businesses, contributing to increased agricultural production.

The financing will also help improve ACEP Burkina’s liquidity and support the

Despite economic slowdown, cashew nuts market is growing world wide but research show Africa is still lacking reinvestment in agriculture to reap the benefits and boost poverty reduction.

To combat climate change and to mitigate its effects, Africa must adopt modern agriculture technologies, machine innovations and engineering for resilient crop varieties. Modern agriculture technologies help to manage farmers’ risks and even improve product quality which in turn brings about better prices.

Also, when it comes to modern agriculture technologies, there is renewed attention towards value addition, agro-processing and post-harvest management. These factors add to the need for increased investment in agriculture because they all translate to increased income and creation of employment opportunities.

This brings us to the question of funding. Where are countries supposed to get the money to invest in agriculture? To answer this question, African countries, almost all 55 of them, signed the 2003 Maputo Declaration, pledging to dedicate 10% of their annual budget to agriculture, but to date, few have done so.…

The Roumdjé Adjia - Garoua Stadium in Cameroon. www.theexchange.africa

Football fans await the thrill, but what does the competition offer to businesses, football clubs and players, organizers, and the Cameroonian government?

Cameroon has already invested almost US$4 billion in infrastructure. Two new stadia, roads, and modern infrastructure have been built to connect the six stadia that the event will be held. The other four stadia have also been renovated.

The investment has offered short-term employment opportunities to local engineers and labourers, especially the youth, in a country where 40 per cent of the population lives below the poverty line. …

Shelter Afrique HQ Drone Image

African Ministers and Heads of Delegation of Ministries in charge of Housing and Urban Development, African Finance Ministers, the Directors and Management of Shelter Afrique, and representatives of international, regional and national institutions, the private sector and civil society, have agreed to enhance mechanisms for the mass production of decent and affordable housing in the continent to achieve social and economic development.

During a three-day summit at the 40th Annual General Assembly of shelter-Afrique that was held in Yaunde Cameroon, the participants resolved to address the challenges that have hindered the efforts to provide decent and affordable housing in Africa.

In a research concluded by the Shelter-Afrique, a pan African housing finance and development institution, shows that the overall shortage of housing in Africa is estimated at 56 million housing units with out of this, more than 90 per cent are in affordable housing bracket.

Photo2 Andrew

The Managing Director …

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While Nigeria is the largest exporter for Sesame seeds, there’s still a lot of untapped potential of the lucrative export business this even as the seeds demand increases  globally.

According to United states market based research report known as Hexa Research the Global sesame seeds market size is expected to hit $17.77 billion by 2025.

The fueling market demand was associated with its Increased application of the product as an anti-oxidant in various pharmaceutical formulations.

With the world production of Sesame seeds estimated to be 4. 8 million tonnes, ten [10] countries accounts for over 80% of it which includes Myanmar, India, China, Tanzania, Sudan, Ethiopia, Nigeria, Burkina Faso, Uganda, and Niger.

Africa, accounts for over 45 per cent of the crop, and in the last 10 years has become as a fast-growing supplier of sesame seed in the world market.

Of the Sesame seeds global production, over two million …

Burkina Faso bags $450m to increase access to electricity

The government of Burkina Faso and the US government’s Millennium Challenge Corporation (MCC) signed a $450 million compact agreement to address low access to electricity in the country.

The compact deal will invest in the power sector to broaden and sustain the country’s economic growth.

“We are marking a new chapter in the partnership between the United States and the people of Burkina Faso with the signing of this second MCC-Burkina Faso Compact,” said Sean Cairncross MCC CEO.

“This compact will address the high cost, poor quality, and low access to electricity in Burkina Faso and will also support the country’s increased participation in regional power markets and the development of a potential MCC regional investment.” He added

In addition to the $450 million pledged by the MCC for the second compact, Burkina Faso’s government pledged to invest $50 million toward the compact’s projects.

An estimate of 8 million people …

UAE has prioritised relations with African countries

UAE has prioritised its relations with African countries based on mutual respect and common interests in order to achieve their country’s goals for development, progress and prosperity said his Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi.

Over the past years, UAE has made progress in this goal deepening its overall relations with African countries, he added.

Sheikh Mohamed bin Zayed made this statement during a meeting at the Emirates Palace with Roch Marc Christian Kabore, President of Burkina Faso, who was visiting the country.

Also Read: UAE targets Kenya in a new chamber partnership

During the meeting, both heads of states discussed their bilateral relations and ways of improving and developing them in various areas. They also discussed the situation in the Middle East and Africa and regional and international issues of common concern.

The Emirati leader further added that the relations between the UAE …