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First production of LNG has successfully started from the Hilli Episeyo vessel off Cameroon. Hilli Episeyo has a relatively small production capacity of 2.4 million tonnes a year and its first cargo will be loaded around early April 2018 (Bloomberg).     The Monetary Policy Committee of West Africa’s CFA regional central bank (BCEAO) holds its benchmark interest rate unchanged at 2.5 percent (7 Mar 2018)    Cote d’Ivoire and Cameroon among the top 5 banana exporters to Spain with volumes of around 5,000 tonnes and 3000 tonnes respectively in August 2016    LafargeHolcim is expanding cement production capacity in Cameroon to 2.1million tonnes from 1.6 million tonnes to compete more aggressively with Dangote which plans to boost capacity to 3 million tonnes within 3 years     Uber technologies plans to offer its services in Cote d’Ivoire, Cameroon and Senegal in 2017 according to Alon Lits, its general manager for sub Saharan Africa    Nestlé, Brasseries du Cameroun and Camlait now among 55 companies allowed export duty-free access to the central African economic bloc

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Friday, December 14, 2018

China’s USD60 billion pledge to Africa


The just ended Forum on China-Africa Cooperation (FOCAC) in Beijing,China showcased South-South cooperation at a time when protectionist policies have gained ground in some major economies and which risk undermining North-South partnerships. China’s pledge of another USD60 billion in additional support for African countries has fueled debate on the sustainability of China’s financial and trading relationship with Africa.

Forum_on_China-Africa-FOCACMeanwhile, the African Development Bank has welcomed China’s cooperation, arguing that China is rapidly changing its investment stance and moving towards a private sector model of financing.  According to the Bank, the new financing will focus on industrial promotion, infrastructure connectivity, trade facilitation, green development, capacity building, health care and people-centred initiatives as well as peace and security initiatives.

The new funding includes USD15 billion in grants and interest-free loans; USD20 billion in credit lines; USD10 billion for development financing and USD5 billion to finance imports from Africa. Additionally, Chinese companies will be encouraged to invest a minimum of USD10 billion in Africa through to 2021.

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FrancTrade provides independent analyses and commentary as well as bespoke commodities market intelligence to global and regional corporate and institutional clients with a stake in the Francophone Africa CFA franc zone. FrancTrade also publishes one-off special reports on commodities and trade in strategic West African markets, including Nigeria and Ghana.