Tuesday, July 14, 2009
Dakar port improvements touted
Progress on improvements to the Port of Dakar is being made according to its Director General, Bara Sady. Security in particular has improved, he says. Navigation has improved at the entrance, exit and through a functional lighting system. Procedures for access to the port are better controlled. Tariffs and connections with the inland hinterland have been improved, he says. Dakar is a favored port for Mali and other inland areas. The Autonomous Port of Dakar has been modernizing since early 2006 and intends to become "a first-class hub of the maritime routes," according to Mr. Sady.
Monday, July 13, 2009
Positive projections from the IMF
Senegal’s economy will grow about 3.1 percent this year, up from 2.5 percent in 2008, as government management of the economy improves, the International Monetary Fund said.
“Budgetary slippages, which had seriously affected the economy” and put IMF support for Senegal at risk, have been successfully addressed, the Washington-based lender said in an e-mailed statement today. “The government’s unpaid bills have been substantially reduced and far-reaching public financial management reforms launched.”
The IMF expects growth in the west African nation to accelerate to 3.4 percent next year and 4.3 percent in 2011.
Consumer inflation was projected to slow to 3.3 percent this year from 5.8 percent last year, and to 0.8 percent in 2010, as food and fuel price increases slow, the IMF said.
The Wade administration should be credited with helping to effect the fiscal discipline that has got the country straightened out.
“Budgetary slippages, which had seriously affected the economy” and put IMF support for Senegal at risk, have been successfully addressed, the Washington-based lender said in an e-mailed statement today. “The government’s unpaid bills have been substantially reduced and far-reaching public financial management reforms launched.”
The IMF expects growth in the west African nation to accelerate to 3.4 percent next year and 4.3 percent in 2011.
Consumer inflation was projected to slow to 3.3 percent this year from 5.8 percent last year, and to 0.8 percent in 2010, as food and fuel price increases slow, the IMF said.
The Wade administration should be credited with helping to effect the fiscal discipline that has got the country straightened out.
Americafrique?
So which is it? Americafrica? Chinafrica? Francoafrique? France has been the old-school colonial influence over Africa's economy. China has poured billions into its Africa economic stake, with special avarice for its resources. Is America now in the game?
U.S. President Obama's recent visit to Ghana cemented widely held warm feelings toward America held by Africans. Many Africans have long seething resentments toward the French. New found resentments toward the Chinese are growing. Witness recently the backlash of the Mourides to the French television's prejudiced portrayal of Senegalese merchants as akin to black gypsies, worse (to the French), black gypsies with religious faith.
Obama's good will is but a further step in the vigorous march of American presidents to Africa. Clinton's drum performance at the Meridian in Dakar was followed by President Bush's successes against AIDS and malaria, as well as aggressive trade initiatives.
But for all that, America's trade with Africa still pales compared to that of France and China. The United State is making no strong plays for natural resources there. We send some Caterpillar tractors, maybe export a few cars, import some clothes. But that's it.
Nor was Obama's visit a foundation for deeper economic connections. Continued foreign aid perhaps. Continued good will for diplomatic partnership. But why, with all the good will, can't the U.S. turn the Africans into Chevy-driving, Ipod-listening Mac users? Lord knows the Africans would want to. Why can't American oil interests build a refinery in Dakar, or craft mining deals?
U.S. President Obama's recent visit to Ghana cemented widely held warm feelings toward America held by Africans. Many Africans have long seething resentments toward the French. New found resentments toward the Chinese are growing. Witness recently the backlash of the Mourides to the French television's prejudiced portrayal of Senegalese merchants as akin to black gypsies, worse (to the French), black gypsies with religious faith.
Obama's good will is but a further step in the vigorous march of American presidents to Africa. Clinton's drum performance at the Meridian in Dakar was followed by President Bush's successes against AIDS and malaria, as well as aggressive trade initiatives.
But for all that, America's trade with Africa still pales compared to that of France and China. The United State is making no strong plays for natural resources there. We send some Caterpillar tractors, maybe export a few cars, import some clothes. But that's it.
Nor was Obama's visit a foundation for deeper economic connections. Continued foreign aid perhaps. Continued good will for diplomatic partnership. But why, with all the good will, can't the U.S. turn the Africans into Chevy-driving, Ipod-listening Mac users? Lord knows the Africans would want to. Why can't American oil interests build a refinery in Dakar, or craft mining deals?
Friday, July 3, 2009
Iron ore mining setback
ArcelorMittal, the world largest steel producer, has suspended development of its iron ore project in Faleme, Senegal, due to the global economic recession, according to news reports from company sources.
The proposed $2.2 billion (1.6 billion euros) project in the south-east of the country was to start producing iron ore for the steel industry in 2011 and ultimately reach a production capacity estimated at 25 million tonnes per year. The project, with a new port and railway line, would create 10,000 jobs in Senegal.
The proposed $2.2 billion (1.6 billion euros) project in the south-east of the country was to start producing iron ore for the steel industry in 2011 and ultimately reach a production capacity estimated at 25 million tonnes per year. The project, with a new port and railway line, would create 10,000 jobs in Senegal.
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