Category: Business

Banknotes and coins in circulation posted a 9.24% rise between the end of 2021 and end of 2022, to TND18.8 billion with a 97.5% share for banknotes, according to the Central Bank of Tunisia (BCT)'s Financial Statements report for 2022. "The increase rate in banknote circulation stood at 9.24% between the end of 2021 and end of 2022, compared to 9.4% between the end of 2020 and end of 2021," the report added. The 20-dinar banknote is the most widely used at the national level, accounting for over 61% of all banknotes and coins in circulation, or TND 11.6 billion, followed by the 10-dinar banknote (22% worth TND 4.1 billion) and the TND 50 banknotes (13.2% worth TND 2.4 billion). As for coins, the 1-dinar coin is the most widely used by Tunisians with over 158 million coins used in 2022, followed by the 500-millime coin (117 million coins worth TND 58.8 million) and the 2-dinar coin (29.5 million coins in 2022 worth TND 59 million). Other coins are also widely used in Tunisia. More than 320 million 100-millime coins, more than 200 million 50-millime coins and more than 415 million 20-millime coins were in circulation at the end of December 2022. As far as the small 1 and 2 millime coins are concerned, the BCT states that they are still in circulation, but in very small numbers, not exceeding 60,000 for 1 millime coins and 37,000 for 2 millime coins.

Source: Agence Tunis Afrique Presse

The Minister of Economy, Finance and Foresight, Dr. Aboubakar Nacanabo chaired Friday in Ouagadougou, the validation workshop of the second voluntary national report on the implementation of the Goals of the sustainable development (SDG), noted the AIB on the spot.

It was after a series of reviews of the report by United Nations Agencies, Civil Society Organizations, private operators, vulnerable groups and regional actors that the document was validated.

For this validation workshop, Minister Nacanabo specified that the objective is to have a consensual document, reflecting the real progress made, the difficulties encountered in the implementation as well as the challenges to be met to be there. of the 2030 agenda.

“The stakes are very high. The United Nations adopted the Sustainable Development Goals for the period 2015-2030, with 17 specific goals,” he said.

The Minister of Economy, Finance and Foresight, Dr Aboubakar Nacanabo specified that for each country, it is to see how we manage to ensure that our public policies are consistent with these objectives and that is which is produced through the voluntary national report.

He added that the various actors, namely state actors, technical partners, and Civil Society Organizations (CSOs) must be able to examine the report so that we can truly see if what emerges from the report corresponds to reality. in the field.

"As of today, we have a consolidated report on the implementation of the SDGs in Burkina Faso, particularly the SDGs selected to be presented to the high-level political forum", assured the Director General of the economy and planning Larba Issa Kobyagda.

Minister Nacanabo took this opportunity "to express, on behalf of the Government, my sincere thanks to the United Nations System, the United Nations Development Program (UNDP), the United Nations Children's Fund (UNICEF) and the United Nations Economic Commission for Africa (ECA)”.

The voluntary national report on the implementation of the SDGs aims, among other things, "to eradicate hunger and extreme poverty, reduce inequalities, preserve the environment, guarantee quality education and better health for all, and promote a peaceful”.

Burkina Faso, like other countries in the world, particularly those in Africa, aligned itself in 2015 with the Agenda 2030 for Sustainable Development (PDDH-2030).

Source: Burkina Information Agency

Foreign currency assets shrank by 602 MD (-2.5%), reaching TND 23.031,5 million at the close of the financial year 2022 against 23.633,5 MD one year earlier, it emerges from the Financial Statements and the Report of the Statutory Auditors for the year ended on December 31, 2022 published Thursday by the BCT.

Foreign currency inflows in 2022 from drawings on foreign loans fell short of covering outflows as a result of the worsening trade balance and external debt-related payments.

The main drawings made during the financial year under review are as follows:

- 700 million dollars relating to the loan agreement dated April 13, 2022 between the Central Bank of Tunisia acting in the name and on behalf of the Republic of Tunisia and the AFRICAN EXPORT-IMPORT BANK. The amount was unlocked in two installments on April 15 and April 20, 2022.

- 300 million euros- a second installment of the EEC loan granted under the Macro-Financial Assistance programme (MFA III) unlocked on May 25, 2022.

- 200 million dollars relating to the financial protocol of December 1, 2022, between Tunisia and Algeria on loan for budget support. The funds were released on December 28, 2022.

- 143 million euros - a first installment of an International Bank for Reconstruction and Development (IBRD) loan (357 MEUR dated April 6, 2022), for the Social Affairs Ministry to meet the expenses of Tunisia COVID-19 Social Protection Emergency Response Support Project. The funds were released on May 20, 2022.

- 100 million euros - a second tranche of a KFW loan of 300 MEUR (March 6, 2020) granted as part of the banking and financial sector reform programme. The funds were unlocked on January 26, 2022.

- 100 million dollars related to the financial protocol (December 1, 2022) between Tunisia and Algeria on a grant for a budgetary support. The amount was released on December 29, 2022.

The year 2022 saw the refunding of the following:

- $254 million for the last installment of the principal and interest of the Qatari private placement of 2017 on April 22, 2022.

- JPY 3.5 billion for the principal maturity of the bond (2012), in December 2022.

- $109 million for two installments in principal and interest due on a Saudi loan in January and July 2022.

- SDR 38 million for two installments in principal due on the IMF loan granted under the Extended Credit Facility programme in June and December 2022.

- pound 47.8 million in interest charges on the pound 850 million bond issue in February 2022.

Net foreign currency holdings till May 16, 2023, reached 93 days of import, i.e. 21.6 billion dinars, against 123 days of import (23.5 billion dinars ) on the same date last year, according to data published by the Central Bank of Tunisia (BCT).

Source: Agence Tunis Afrique Presse

The Presidential Initiative for Agricultural Production, very dear to Captain Ibrahim Traoré, will mobilize more than 1,000 soldiers, more than 2,000 volunteers for the defense of the homeland (VDP) and more than 4,000 internally displaced persons (IDPs) and probably detainees, in order to produce 190,000 tons of cereals and vegetables on more than 11,000 hectares for the 2023-2024 agricultural campaign.

The information was given on Wednesday by government spokesman Rimtalba Jean Emmanuel Ouédraogo, after the Council of Ministers.

The information was given on Wednesday by government spokesman Rimtalba Jean Emmanuel Ouédraogo, after the council of ministers, according to the presidency of Faso.

According to Mr. Ouédraogo, this initiative, which cost more than 22 billion FCFA, has three components.

These are the “Emergency Initiative for the Intensification of Rice Cultivation” which will concern 4,000 hectares, the “Burkina Military Food Program” which will mobilize 3,500 hectares and the “Homeland Defense Production against food insecurity" which will also concern 3,500 hectares.

To achieve the objective of producing 190,000 tons of cereals and vegetables in this agricultural campaign on 11,000 hectares, more than 1,000 soldiers, more than 2,000 volunteers for the defense of the homeland (VDP) and more than 4,000 internally displaced persons (PDI), will be mobilized.

"And mechanisms are being studied to involve the detainees," added Minister Ouédraogo.

Source: Burkina Information Agency

The National Grants Committee of the Agency for the Promotion of Agricultural Investment (APIA), on Monday, approved five investment projects worth a total of TND 14.9 million.

These projects are spread over four governorates, namely Manouba, Mahdia, Sfax and Nabeul, according to APIA.

In terms of land loans, the committee approved six loans worth TND 1 million, covering an area of 42 hectares in the governorates of Kasserine and Sidi Bouzid.

The value of privately financed agricultural investments approved by APIA during the first three months of 2023 decreased by 20.9% compared to the same period last year, amounting to TND 123.6 million, according to APIA's statistical bulletin published on April 20.

Approved investments received a total of TND 34 million, which represents 27.5% of the approved investment volume, compared to TND 39.5 million the same period last year.

The approval rate fell from 18.9% to 16.4%. The Grants Committees approved only five land loans worth TND 0.8 million, compared to nine loans worth TND 1.2 million during the same period in 2002. These loans will facilitate the integration of 72 hectares of land into the economic cycle, as against 86 hectares by the end of March 2022.

Source: Agence Tunis Afrique Presse

Increasing national exports, particularly to the African market, requires laying down solid foundations, said president of the Confederation of Tunisian Citizen Enterprises (CONECT), Tarek Cherif.

In a statement to TAP, he added that these foundations consist of putting in place logistical resources for exports, in particular sea and air transport. They should make it easier for Tunisian companies and investors to export their products and services abroad, particularly to African countries.

Tunisia's exports to Africa do not exceed 2.5% of overall exports, he recalled.

"Strengthening Tunisia's presence in African countries requires providing companies with the necessary financing to facilitate their access and positioning on this continent, as well as encouraging the establishment of Tunisian banks in these countries and making up for the lack of diplomatic representations in Africa.

Chérif also stressed the need to diversify Tunisia's export markets and focus on strengthening and increasing the value of national exports to the traditional European market, given its high purchasing power.

The President of CONECT pointed out that several countries have managed to capture African markets and increasing their trade with Africa, similar to Morocco, whose exports to sub-Saharan countries have reached record levels.

Chérif called for consideration to be given to the successful experiences of other countries such as Portugal, Belgium and the Netherlands.

These countries have achieved record export figures thanks to significant logistical resources and administrative facilities resulting from digital developments.

Finally, he called for a review of Article 52 of the 2022 Finance Act, concerning "the suspension of the VAT suspension regime for international trade companies and fully exporting service companies".

This article is detrimental to the interests of SMEs, which are the lifeblood of the Tunisian economy.

Source: Agence Tunis Afrique Presse

The statutory members of the provincial consultation framework (CCP) of Bazèga exchanged on Thursday, May 25, 2023 in Kombissiri, during their first ordinary session, on Soil and pesticide management in Bazèga and climate change.

The provincial consultation framework (CCP) is a framework for work, information sharing and collaboration par excellence. It also aims to be a framework bringing together all the development actors present in the province of Bazèga.

It is in this perspective that the first session of the CCP Bazèga was held, chaired by Mrs. Téné Justine Kientega/Ilboudo, High Commissioner of Bazèga.

At this first session, the participants reflected on soil and pesticide management in the province of Bazèga: issues and challenges for sustainable and resilient agriculture in a context of security crisis.

They have also appropriated notions of climate change as well as their links between poverty and soil degradation.

The holding of this session is made possible thanks to the NGO “Les Anges de la Nature” which took this opportunity to present its areas of intervention.

For the representative of the executive director of the NGO, Aimé Ouédraogo, the accompaniment of its structure to the CCP of Bazèga is explained by the fact that this framework is a channel which allows the NGO to make pleas and to solicit the support from all the driving forces for the execution and success of the projects.

The communications were followed by discussions, all of which allowed the participants to ask questions of understanding around the issues raised.

They also contributed with suggestions and comments. At the end of the exchanges, the statutory members were made aware of the importance of soil management and the consequences of the use of pesticides in agricultural activities.

To this end, according to the High Commissioner of the province, Téné Justine Kientega / Ilboudo, it is clear that some producers indulge in bad practices including the abuse of unapproved pesticides threaten the preservation of the environment and impact negatively on human health.

The members of the PCB were also able to identify, through the information received, concepts on climate change and their links between poverty and environmental degradation.

Source: Burkina Information Agency

Monitoring the implementation of government measures to streamline imports and control the trade deficit was the main item on the agenda of a cabinet meeting chaired by Prime Minister Najla Bouden in Kasbah on Thursday.

The meeting discussed ways of strengthening the competitiveness of national products and the need to encourage foreign companies to invest in Tunisia, said a press release issued by the Prime Ministry.

The monthly trade deficit widened once again to 2,273 million dinars (MD) in April 2023, up 28.5% on the deficit recorded in March 2023, according to data published by the National Statistics Institute (INS) in May.

The worsening deficit is due to a 6.3% rise in imports, against a 1.6% fall in exports.

The rise in imports is mainly attributed to the sharp upturn in imports of energy products, which rose by 56.3%.

In addition, purchases of capital goods rose by 15.8%, due to the acquisition of machinery for the mining and air-conditioning industries.

Imports of consumer goods rose slightly by 1.3%, mainly due to higher imports of passenger cars, according to the same source.

On the other hand, imports of food products fell by 15.3%, due to lower imports of cereals and sugar.

Similarly, imports of raw materials and semi-finished products fell by 9.1%, due to lower imports of oil seeds and fruits, as well as copper wire.

Source: Agence Tunis Afrique Presse

Prime Minister Apollinaire Joachim Kyélem de Tambèla chaired this Thursday morning in Ouagadougou, the opening ceremony of the 7th edition of the Africallia Forum. He wished fruitful meetings to businessmen for a better influence of Africa.

“I wish you fruitful meetings for a better influence of Africa. Long live the Africa of conscious and patriotic businessmen, long live the pan-Africanism of business,” said Prime Minister Apollinaire Joachim Kyélem de Tambèla this Thursday morning in Ouagadougou.

Prime Minister Apollinaire Joachim Kyélem de Tambèla chaired this Thursday morning in Ouagadougou, the opening ceremony of the 7th edition of the Africallia Forum. He wished fruitful meetings to businessmen for a better influence of Africa.

“I wish you fruitful meetings for a better influence of Africa. Long live the Africa of conscious and patriotic businessmen, long live the pan-Africanism of business,” said Prime Minister Apollinaire Joachim Kyélem de Tambèla this Thursday morning in Ouagadougou.

The head of government was speaking at the official opening ceremony of the 7th edition of the Africallia forum.

He hailed the construction by Nigerian businessman Ali Dangoté of the large refinery in Lagos. This refinery will undoubtedly be, according to him, "an important factor for a new start for Nigeria". He therefore invited African businessmen “to be all Dangote, each in his field for the benefit of Africa”.

Apollinaire Joachim Kyélem de Tambèla stressed that “the private sector is the engine of the economy and is convinced that Africans can “find solutions for Africa and for Africans”. “What is needed may be commitment, patriotism and leadership,” he recommended.

The head of government wished that “this 7th edition of the Africallia forum be “a meeting for a new start in order to give a noble meaning to business for the benefit of Africa and Africans”.

According to the representative of the director of the Vista Bank group and sponsor of this 7th edition of Africallia Yassin Bayo, the multisector business development forum "has become (today) an ideal framework for establishing business partnerships not to be missed. ".

She maintained that "thanks to the Chamber of Commerce and Industry of Burkina Faso and its partners, Africallia has become an unmissable meeting place for players in the African business world".

This is why the director of Vista Bank Simon Tiemtoré did not hesitate to associate his image and that of his group with the event, underlined Ms. Bayo.

She therefore urged Burkinabè businessmen and women "to seize this opportunity to conclude solid and lasting business partnerships with men and women from various countries of the world".

The President of the Chamber of Commerce and Industry of Burkina Faso Mahamadi Savadogo wished him that these two days of the Africallia forum "will be a strong moment of exchanges and sharing crowned by mutually advantageous quality partnerships".

The opening ceremony was marked by the signing of cooperation agreements between the Chamber of Commerce and Industry of Burkina Faso and four other sister chambers of commerce.

These are the Chamber of Commerce, Industry, Mines and Handicrafts of Cameroon, the Chamber of Commerce, Industry and Handicrafts of Guinea, the Chamber of Commerce, Industry, Agriculture and Services of Guinea Bissau and the Chamber of Commerce of the Democratic Republic of Congo.

The opening ceremony ended with a visit to the stands. At the end of the visit, the Minister of Industrial Development, Trade, Handicrafts and Small and Medium-Sized Enterprises, Mr. Serge Gnaniodem Poda welcomed the African products in the stands and invited Africans to consume these products. .

Source: Burkina Information Agency