Category: Business

Tunisia considers issuing a national bond in 2024 and raising a syndicated loan in foreign currency, with forecasts of raising domestic financing worth TND 3.5 billion. These data are included in the draft State budget which is currently under discussion by the Assembly of People's Representatives (ARP). The draft State Budget provides for a budget of TND 77.8 billion, domestic debt of TND 11.7 billion, compared with a TND 28.1 billion debt. The issue of a national bond loan aims to raise TND 2.8 billion, especially as this mechanism saw a large influx of subscribers in recent years.The government raised TND 3.2 billion in 2023 through a national bond issue. Under the terms of a financing agreement to be signed with the banks in 2024, the value of the syndicated foreign currency loan will be half of the TND 1.1 billion syndicated foreign currency loan raised in 2023. Repayments under the national bond issue stood at almost TND 5.8 billion for short-term treasury bills (52 weeks) and around TND 1 billion for assimilable treasury bills. TND 752 million should be repaid under the syndicated loan in foreign currency (two tranches under the loans launched in 2021 and 2023). The national bond issue is one of the main mechanisms for domestic debt, given the blockage of external financing mechanisms, including loans from the International Monetary Fund (IMF), and the difficulties in accessing international financial markets due to the downgrading of the sovereign rating.

Source: Agence Tunis Afrique Presse

Second rice importer in Africa behind Nigeria, Ivory Coast is reducing the bill for its purchases. To this end, the country signed a contract to develop the production of improved rice seeds. The implementation of the Ivorian component of the K-Ricebelt is expected to mobilize a budget of 6.4 billion CFA francs ($10.3 million).

Source: Africa News Agency

“Pomedi Coco is the ancestor of Kari Kari Africa soaps. Its original name is “Pomedi” which means “family soap”. A household soap for your precious laundry, made with coconut oil and organic lemon litsea essential oil. The recipe is an ancestral one, handed down from mother to daughter, generation to generation, and used by Kari Kari to make her first soap.

This is how the organic skincare brand Kari Kari promotes its flagship products on social media. There is a story and a message behind each one.

The promotion of traditional know-how and local products is what has driven the success of the company, which was born in Togo in 2014 and has since expanded beyond the country's borders. It is also the fruit of a passion inherited from its founder, Aimée Abra Tenu Lawani.

“The idea for Kari-Kari Africa was given to me by my father, who used to be a soap maker, as was the passion for entrepreneurship. It's a great joy for our whole family to see our mother's skills being revived through Kari-Kari Africa,” says the young woman, bridging with enthusiasm.

Aimée Tenu-Lawani has set up her business in the town of Kpalimé, 120 km from Lomé, producing fair-trade organic soaps, mosquito repellent oils and body balms.

The aim of the startup is to offer Togolese and African consumers in general handmade soaps and organic skincare made from vegetable oils. Aimée uses cold saponification to ensure that her soaps are superfatted and meet natural standards. “This preserves the benefits of vegetable oils and butters for the skin”.

An authentic soap factory in Togo

The Kari Kari Africa soap factory is a traditional artisanal soap factory,” explains Aimée. We mainly make black soaps and cold process soaps using traditional, ancestral processes. These are ancient processes that have crossed time and continents, and our soaps are produced to international cosmetic standards. He adds: “Kari Kari Africa is also at the forefront of research with a modern laboratory that combines tradition and modernity in terms of healthy, high quality cosmetics. We make the most of local raw materials such as shea butter, cocoa, precious vegetable oils such as palm kernel oil and natural additives, sourced from the best local suppliers – women's and youth cooperatives in several Togolese and African locations – at fair prices”. For example, African black soap made from the ashes of plants such as cocoa pods. “Our raw materials are natural and/or certified organic and vegan. We've created our own formulas and improved the processes so that new generations can enjoy all these traditional wonders, our skincare, face and haircare and massage oils…”

These products are packaged in boxes made from recycled food grade paper. “For an even greener, waste-free action!”

Source: Africa News Agency

n Rwanda A new range of 4G-enabled smartphones has been launched in Rwanda to accelerate the adoption of digital services in the country in partnership with the Rwandan government and American philanthropist Reed Hastings, co-founder and director of Netflix. The devices are sold at a unit price of 20,000 Rwandan francs ($16.42).

Source: Africa News Agency

Tunisia will increase the portfolio dedicated to fuel and electricity subsidies for 2024. The budget provides for investments of 7.08 billion dinars (around $2.23 billion) at the rate of 4.01 billion dinars (approximately $1.2 billion) allocated to the Tunisian Electricity and Gas Company (STEG ), with the remainder going to the Tunisian Society of Refining Industries (STIR).

In 2023, energy expenditure covered 5.3% of GDP in 2022 for 4.4% of GDP in 2023.

Source: Africa News Agency