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Change in commodity futures prices YTD May 8, 2020: Cocoa (-4.8%); Wheat (+3.7%); Maize (-17.5%); ICE Natural gas (-55%); Gold (+12.1%); Soyabeans (-23.1%); Cotton (-18.2%); Rough rice (+27.2%); Platinum (-18.5%); Arabica coffee (-15.1%); Brent crude oil (-53.3%); Copper (-14.6%); Sugar (-23.3%);     Whilst Africa's growth in 2020 could fall to its lowest since the 2008/9 global financial crisis, the asymmetric nature of shocks facing the region, coupled with increasing investment and cross-border trade, should help the region recover speedily.

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May 10, 2021

DRC eyes Uganda-Tanzania oil pipeline


Local media reports indicate that the Republic of Congo (DRC) has made overtures towards using a 1,410-kilometre oil pipeline from Lake Albert in Uganda to Tanga Port in Tanzania. Total E&P of France, the UK’s Tullow Oil and China’s CNOOC all have stakes in the Uganda project. The pipeline, which is still under construction, will have a capacity of transporting 200,000 barrels per day on completion in 2020. The DRC initially hopes to use the pipeline, which is conveniently located, to transport around 30,000 bpd which will eventually increase to 100,000 bpd.

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