Seychelles sees 2017 GDP growth at 4.1 pct: finance minister

Tourists shop in the streets of Victoria

Tourists shop in the streets of Victoria, Seychelles, file.
Photo: REUTERS/George Thande

Seychelles’ economy is seen growing at 4.1 percent this year from 4.5 percent in 2016, its finance minister said, while the International Monetary Fund said performance of its tourism sector remained vulnerable to external factors.

The Indian Ocean country of 93,000 people largely depends on tourism for government revenues but has sought to promote itself as a low-tax, financial services hub.

“For 2017 the growth prospects remain favourable…as tourist arrivals continue to rise at a sustained pace, while inflation should remain subdued, on account of the stability of fuel and other commodity prices,” Finance Minister Peter Larose said in a letter to the IMF released on Tuesday.

Seychelles’ inflation rose to 3.18 percent year-on-year in May from -0.78 percent a month earlier.

IMF said in a separate statement that Seychelles’ economy was still vulnerable to external factors that could affect its tourism sector.

“The outlook for tourist arrivals remains highly susceptible to external developments, such as weak growth in advanced and emerging market economies, weakness in the Euro, and geopolitical tensions disrupting the Middle East, Africa, and Europe,” it said.

Originally reported by Reuters.

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Maasai Warriors hit Boundaries in Protection of White Rhino

Daniel Mamai of the Maasai Cricket Warriors plays against the British Army Training Unit cricket team during a charity tournament called the "Last Male Standing Rhino Cup" at the Ol Pejeta Conservancy in Laikipia

Daniel Mamai of the Maasai Cricket Warriors plays against the British Army Training Unit (BATUK) cricket team during a charity tournament called the “Last Male Standing Rhino Cup” at the Ol Pejeta Conservancy in Laikipia, Kenya June 18, 2017. Photo: REUTERS/Thomas Mukoya

Under the gaze of the last male northern white rhino, a group of Maasai warriors in Kenya went into bat for the threatened species, wearing their traditional red shuka robes and clunky white cricket pads.

The warriors were taking part in the annual Last Male Standing Rhino Cup, a two-day tournament hosted in the Laikipia conservation area where the last three northern white rhino live under 24-hour armed guard to protect them from poaching.

“Because the cost of looking after rhinos is enormously expensive these days as a result of poaching, we use many other different ways to try and raise the money,” Richard Vigne of tournament organisers the Ol Pejeta conservancy told Reuters.

Ol Pejeta hoped to raise 1 million Kenya shillings ($100,000) from the 12-team tournament, which also featured sides from the British Army Training Unit and Australian High Commission.

Cricket is not the only method of fundraising that the male rhino, named Sudan, is part of.

Conservationists set up a Tinder profile for the rhino, to help raise money for his $9-million fertility treatment after all attempts at getting him to mate naturally have failed.

Originally reported by Reuters.

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Growth in Africa to reach 3.4 pct in 2017, 4.3 pct in 2018: OECD, AfDB

FILE PHOTO: Employees work on the manufacturing line at the United Aryan Export Processing Zone textile factory in Nairobi

Employees work on the manufacturing line at the United Aryan Export Processing Zone textile factory in Nairobi, Kenya April 13, 2017. REUTERS/Baz Ratner/File Photo

The Organisation for Economic Co-operation and Development (OECD) and the African Development Bank (AfDB) expect economic growth in Africa to pick up this year and next.

Presenting their latest forecasts at the sidelines of a G20 Africa summit in Berlin, both organisations forecast gross domestic product (GDP) to expand by 3.4 percent this year after 2.2 percent in the previous year.

For 2018, OECD and AfDB expect the upturn to gain further momentum with a predicted expansion rate of 4.3 percent.

Originally reported by Reuters.

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Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

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Benin Moves to Save Part of West Africa’s Last Big Wildlife Refuge

Benin is hiring scores of extra park rangers and bringing in conservation scientists to rehabilitate a part of West Africa’s largest wildlife reserve, which contains big cats and thousands of elephants that have largely died out elsewhere in the region.

The W-Arli-Pendjari (WAP) complex is the region’s biggest remaining expanse of savannah, covering more than 30,000 sq km of Benin, Niger and Burkina Faso.

The tiny nation has partnered with NGO African Parks for the 10-year project centred on the 4,800 sq km Pendjari National Park, part of WAP and seen as the most viable tourist hub for the area, officials involved told Reuters on Thursday.

The complex contains by far the largest elephant population in the region, several thousand, and is thought to house most of the few hundred remaining West African lions, as well as some cheetahs and hippos.

As with other parks in Africa, they face grave threats from poachers and encroachment by a surging human population.

“Pendjari is an opportunity for Benin and the region,” Jose Pliya, director of Benin’s national tourism agency, told Reuters by telephone. “This partnership … will help us make it a sustainable tourism destination (and) a lever for development and employment for the Beninoise.”

But boosting ecotourism faces challenges, not least because jihadists are thought to have infiltrated parts of the wider reserve. France, former colonial master of the three nations that straddle the park, has advised it citizens against all travel to the Burkina Faso side of the expanse.

A tourism ministry spokeswoman, when asked about the jihadist threat, said only that Benin had never been attacked and “security measures are being put in place,” to prevent one.

To better police the park, the project will recruit 10 officers or specialists, train 90 guards, set up a satellite communications network and put a 190 km fence around it, a joint statement from African Parks and Benin said.

A spokesman for the presidency said there were as of yet no plans to work with Benin’s neighbours, although experts say cross border cooperation is key to conserving large wildernesses.

“Regional cooperation always makes sense (for) … better management of the larger landscape and the species that move within it,” African Parks spokeswoman Fran Read said in an emailed response to questions.

“But equally … Pendjari National Park is a sufficiently large ecosystem to successfully conserve all its key species.”

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

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Botswana’s Wilderness Safaris to bid for Air Botswana

Botswana’s largest tourism company, Wilderness Safaris, plans to make a bid for Air Botswana, the country’s loss-making national airline which the government wants to privatise.

Botswana put the airline up for sale in February, part of plans to privatise loss-making state-owned companies. The transport department said at the time it would consider full bids for Air Botswana, as well as joint ventures, ownership, franchising and concessions.

In March, Transport Minister Kitso Mokaila said at least 17 companies had expressed interest in Air Botswana, but he did not name them.

Wilderness Safaris said it planned to make a bid when it published its full-year results last week.

The company, which is also listed in Johannesburg, operates 50 luxury resorts across eight African countries and Wilderness Air operates 35 small aircrafts in Botswana, Zimbabwe, Zambia and Namibia mainly catering to tourists.

Botswana, whose main source of wealth is diamonds, has more than 30 state-owned enterprises, most of them loss making, in industries ranging from tourism and power to housing and finance.

Air Botswana operates four domestic routes and also provides cargo and air passenger services to Cape Town and Johannesburg from Gaborone, Francistown and the tourism hubs of Maun and Kasane.

The airline’s losses, blamed on a large workforce and an aging fleet, prompted a turnaround plan that includes cutting costs and cancelling unprofitable routes.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

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Djibouti Opens New Port as Part of $7 bln/year Free-Trade Zone Plan

dj-mapDjibouti has formally opened one of four new ports designed to cement the tiny Horn of Africa nation’s position as a continental hub, a statement from the ports authority said on Wednesday.

Doraleh Multipurpose Port has been substantially upgraded as part of a Chinese-backed plan to establish Africa’s largest free-trade zone that can handle $7 billion of goods a year.

“The port of Djibouti is a gateway to one of the fastest growing regions of the world with 30,000 ships transiting the port each year,” the statement said.

“Located on two of the three busiest shipping routes in the world, the port provides a strategic platform for maritime activity connecting Asia, Africa, and Europe.”

Tiny Djibouti, with a population of 876,000, has long punched above its weight. It hosts large U.S. and French naval bases; China is also building a naval base. Djibouti also handles roughly 95 percent of the inbound trade for neighbouring Ethiopia, population 99 million.

Doraleh’s bulk terminal can handle 2 million tons of cargo a year, and offers space to store 100,000 tons of fertilizer, 100,000 tons of grain, and warehouses for other goods.

The break bulk terminal can handle 6 million tons of cargo annually, the statement said, and there are 40,000 slots for vehicles at the RO-RO terminal.

Two other ports designed to export salt and potash will open next month.

Djibouti mainly handles goods from Asia, representing nearly 60 percent of traffic, the statement said. In 2015, overall traffic to Djibouti increased 20 percent to 5.7 million tonnes.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

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Uganda’s Private Sector Activity Expands in March – PMI

Private sector activity in Uganda expanded in March compared to the previous month, with companies reporting a boost in production and sales volumes, the inaugural results of a new survey index showed on Wednesday.

The Markit Stanbic Bank Uganda Purchasing Managers’ Index (PMI) rose to 53.5 last month, up from 50.9 in February, the survey report said. Markit collected data for 10 months prior to launching the PMI.

“Companies reported increases in both output and new orders for the second straight month in March,” the report said, adding higher activity was reported in a range of sectors including agriculture, industry, services and wholesale and retail.

The findings of the survey offer a glimmer of hope after Uganda’s central bank said overall economic expansion is slowing.

This month, policymakers cut the benchmark lending rate by 50 basis points to 11 percent to speed up private sector credit flow and boost flagging growth.

The new Markit Stanbic survey found hiring by firms was also rising on the back of the higher orders.

“Staffing levels rose in the agriculture, services and wholesale and retail sectors,” the survey said.

The east African economy, which mostly relies on coffee for its foreign exchange needs, is expected to begin crude oil production in 2020.

– Kindly note: Detailed PMI data are only available under licence from Markit and customers need to apply to Markit for a licence. To subscribe to the full data, click on the following link: www.markit.com/Contact-Us. For further information, please phone Markit on +44 20 72602454 or email economics@markit.com.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
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Strategic Business & Intelligence Division,
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Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Africa :
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