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January 2018 West Africa Food Intelligence Report

home3Summary of Key Issues

The West Africa Food Intelligence Report provides a snapshot of developments in the political, economic and agricultural sectors that affect staples food trade and food security in WAFM focused countries.

Highlights of the January 2018 edition.

Burkina Faso

  • President Kaboré conducts 3rd cabinet reshuffle and appoints civil society activist, Haround Kaboré as New Minister of Trade
  • Ministry of Agriculture allocates USD47 million of its budget to food
  • Burkina Faso and Ghana relaunch their railway interconnection project.

Ghana

  • African Development Bank projects Ghana economic growth at 8.5% in 2018.
  • The Bank of Ghana’s Annual Percentage Rates (APR) and Average Interest (AI) report for December 2017, has shown that agricultural lending rates are still prohibitive at an average of 31.5%
  • Ghana Cocoa Board explores Chinese market for its cocoa

Niger

  •  African Development Bank disburses USD43million in budget support to Niger.
  • Niger obtains USD33million on regional market following its sovereign bonds
  • Nigerien Government adopts newfertiliser sector reform plan to boost agriculture.

Nigeria

  • Nigeria plans to sell USD2.5billion of Eurobonds in order to refinance its domestic debt in the first quarter of 2018.
  • Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, states that the agriculture sector created 6 million jobs in the
    past 2 years.
  • December 2017 has shown that that the agriculture sector agricultural lending rates arestill prohibitive at an average of 5%. created 6 million jobs in the past 2 years.
  • The regional head of the African Agricultural Technology Foundation (AATF), Dr Issoufou Kollo Abdourahmane, has stated that solving food security in Nigeria is essential to attaining food security in the region.

Regional

ECOWAS Commission launched a call for proposals addressed to think tanks and research groups based in West Africa to carry out an in-depth study on the economic implications of Morocco’s accession to the organization.

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