Delta flights from Atlanta resume

Starting January, Delta airlines will resumes it popular direct flight from Atlanta to Dakar, Senegal and Luanda, Angola.

The flight will operate three times a week, making a stop in Dakar before going on to Luanda. Delta currently flies to Dakar from New York, but Angola is a new market for the airline, its eighth in Africa.

Senegal last year moved its U.S. tourism office from New York to Atlanta. Its director, Aziz Gueye, was disappointed to learn upon arriving here that Delta had suspended its Atlanta-Dakar flight.

He welcomed the news that the airline will resume the direct flights.

Good news from IMF, with a caution

According to a mission report from the IMF released today, regarding Senegal's economy: “Economic performance through September 2010 has been broadly satisfactory. Monthly indicators point to an ongoing economic recovery, which appears somewhat stronger than anticipated at the last review. Growth is currently projected at 4 percent in 2010 and 4.4 percent in 2011. But risks remain and include a weak global recovery, higher oil prices, and persistent electricity supply problems. On the upside, a faster global recovery and continued structural reforms could support growth. Inflation is expected to remain below 2 percent."

Sharia banking may be coming

Senegal is reviewing legislation that would allow lenders to set up Islamic units in a nation where 94 percent of people don’t have savings accounts, Birahim Seck, chief executive officer of SYM International Finance Corp. in Dakar, told Bloomberg in a Sept. 14 interview. Shariah banks boost financing to small- and medium-sized businesses, according to report.

Outstanding domestic bank lending accounted for 25 percent of Senegal's gross domestic product in 2008, according to data compiled by the World Bank. The rates compare with 224 percent in the U.S. and 115 percent in Malaysia, a global hub for finance that conforms with Shariah principles.

Senegal would lure funds from the Middle East with a system to facilitate Islamic financing, said Seck at SYM International. A lack of regulation and sufficient knowledge are hampering growth, said Seck, whose company helps bring investment from members of the Organization of the Islamic Conference into West Africa.