Africa Briefs
Zambia maize
output to plummet
Zambia's maize production for the 2017/18 crop season will fall to 2.39 million tonnes from 3.61 million tonnes produced in the previous season largely due to drought, a government survey said.
“Dry spells have negatively affected the production of some crops in the country. In addition we had reports of army worms and stalk borers attacking maize fields,” the ministry of agriculture said.
Dry weather and an outbreak of armyworms, which ravaged southern Africa earlier last year, have raised concerns over the crop output. – Nampa/Reuters
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DRC makes no major
concessions to miners
The government of the Democratic Republic of Congo has made no substantial concessions to major miners demanding changes to a new mining code they say will discourage investment, according to a draft document seen by Reuters.
International mining companies including Glencore and Randgold at the end of March outlined a proposal that includes a sliding scale for royalty rates on commodities mined in Congo.
In exchange, the government would eliminate a 50% tax on windfall profits.
A 702-page draft of regulations to implement the code, which the mines ministry has circulated among mining companies, retains mention of a windfall tax or “special tax on excess profits”.
It kicks in at a rate of 50% when commodity prices are 25% higher than planned in a bankable feasibility study, drawn up by miners to determine the viability of a project.
It also makes no mention of the stability clause sought by international miners, which in the previous code protected them against changes to the fiscal regime for a decade. – Nampa/Reuters
Malawi to grow
by 6% in 2019
Malawi's economy will grow by as much as 6% in 2019 from a 4% expansion expected in 2018, President Peter Mutharika said on Friday, in remarks ahead of the presentation of the national budget in parliament.
Malawi, which is experiencing power rationing due to inadequate generation, aims to more than double power supply from the current 360 megawatts (MW) to 1 000 MW by 2023, by diversifying from hydro electricity generation to coal, wind, solar and gas.
Mutharika said Malawi planned to build an international airport along Lake Malawi, as part of ambitious plans to turn the country's tourism industry into a major source of revenue.
Elections are due in Malawi in May 2019 and Mutharika has declared that he will seek a second term, despite recent criticism of his age. He will be 79 next year. – Nampa/AFP
Sudan fuel shortage hikes black market prices
Black market fuel prices surged on Saturday in Khartoum and other Sudanese towns as petrol and diesel shortages forced residents to queue for hours outside gas stations.
Fuel supplies began dwindling in early April, with officials blaming maintenance delays at a key refinery, although foreign currency shortages have also played a role.
The crisis has since escalated despite official pledges to resolve it.
The shortage has hiked prices of petrol on the black market, with a gallon costing 150 pounds (US$5.30) in Khartoum, over five times the official price of 27 pounds.
Most petrol stations were receiving less than their alloted quotas of petrol and diesel, with attendants often keeping the outlets shut once they sold their stock. – Nampa/AFP
output to plummet
Zambia's maize production for the 2017/18 crop season will fall to 2.39 million tonnes from 3.61 million tonnes produced in the previous season largely due to drought, a government survey said.
“Dry spells have negatively affected the production of some crops in the country. In addition we had reports of army worms and stalk borers attacking maize fields,” the ministry of agriculture said.
Dry weather and an outbreak of armyworms, which ravaged southern Africa earlier last year, have raised concerns over the crop output. – Nampa/Reuters
?
DRC makes no major
concessions to miners
The government of the Democratic Republic of Congo has made no substantial concessions to major miners demanding changes to a new mining code they say will discourage investment, according to a draft document seen by Reuters.
International mining companies including Glencore and Randgold at the end of March outlined a proposal that includes a sliding scale for royalty rates on commodities mined in Congo.
In exchange, the government would eliminate a 50% tax on windfall profits.
A 702-page draft of regulations to implement the code, which the mines ministry has circulated among mining companies, retains mention of a windfall tax or “special tax on excess profits”.
It kicks in at a rate of 50% when commodity prices are 25% higher than planned in a bankable feasibility study, drawn up by miners to determine the viability of a project.
It also makes no mention of the stability clause sought by international miners, which in the previous code protected them against changes to the fiscal regime for a decade. – Nampa/Reuters
Malawi to grow
by 6% in 2019
Malawi's economy will grow by as much as 6% in 2019 from a 4% expansion expected in 2018, President Peter Mutharika said on Friday, in remarks ahead of the presentation of the national budget in parliament.
Malawi, which is experiencing power rationing due to inadequate generation, aims to more than double power supply from the current 360 megawatts (MW) to 1 000 MW by 2023, by diversifying from hydro electricity generation to coal, wind, solar and gas.
Mutharika said Malawi planned to build an international airport along Lake Malawi, as part of ambitious plans to turn the country's tourism industry into a major source of revenue.
Elections are due in Malawi in May 2019 and Mutharika has declared that he will seek a second term, despite recent criticism of his age. He will be 79 next year. – Nampa/AFP
Sudan fuel shortage hikes black market prices
Black market fuel prices surged on Saturday in Khartoum and other Sudanese towns as petrol and diesel shortages forced residents to queue for hours outside gas stations.
Fuel supplies began dwindling in early April, with officials blaming maintenance delays at a key refinery, although foreign currency shortages have also played a role.
The crisis has since escalated despite official pledges to resolve it.
The shortage has hiked prices of petrol on the black market, with a gallon costing 150 pounds (US$5.30) in Khartoum, over five times the official price of 27 pounds.
Most petrol stations were receiving less than their alloted quotas of petrol and diesel, with attendants often keeping the outlets shut once they sold their stock. – Nampa/AFP
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