DAlLY T RUST
Fdday,Ma«h9, 20'2
Business/I nternationa I
Zambian 300 MW coal-fired plant delayed until 2015 MAAM8A CoUkries. m..jority 0Wlk"d by Singapocean miner Naw Sha ....' Ptc.1us push«l bildt to 2015 th~ compktion of lIS lOO megawalt c~ - fiml power rlmt in Zambia ducloddap in getllng mvironmental .. pprovalJ. an
om·
dill Aid yestuclay. Nilva Shanl acquired a 6S patmtstah in Maamba in 2009 and the rtmaining 35pncrnl was retaintd by the go\~rnmr nt of Zambia. As part oflhe deal, Nava Bharal said iI would ff'Vivc the ope.nliom of thr Maambl mint
and build the coal-flrtd power
Nan.yana told Rrulus.
".mLConstruction, which was ini-
only got the pro;ea approved last wffk and we have
tially due 10 start last rear, would begin nell month and the power Protect was Ilkdy to be compkttd
given notice to our contnctor to 5tarl work. in mid. April,- Naraylila said.
in 2015 Instead of2014, Maambl o.id"Opcnting Officer Gurnm
"We have delayed 10 start this Prutea and we hope thaI by 201 5
New Senegal stats show economy grew even slower in 2011
"We
we should be done.According 10 a detailed layout of thc pro;cct. the plant would initially produce JOO MW and laltt add .nother JOO MW. The investment fo r the fint phucorthe projc<:t was S7SOmil lion, Narayana said. (Reutm)
Ghana pledges firm cocoa price for its farmers GHANA Iwi no plans to cut the pria at which it buys cocna from il! farmm in the coming 2OlVI3 xuon depitc the dive In the' world markrt prio!: of COCOII OYer the past year, the mduslIy ~ of the worJd's number two grower said
""""".
be a tight dection TXC in Dcumbtr. Ghma has • lnodoccr pricc I'CVitw committee. comprising rtpn'St:ntatNts of fim~ buycrs. Cocobod and the govemnwnL They mcrt ahead of t\'tJ)'crop ~ to rec· ommend the buying pria- to gov-
SENEGAL'S economy grew just ernment, gencra1Jy aroond October. two percent in lOll , according Cocoa futures ilfe trading at jusI Amotyah said t1K'K WttI! gf~y 10 the co ulllry's SllIliuics officc, under S2.JOO a tonnc. about a third valves built into the lmang mechahalf Ihc prevlou growth uti· down on this time last year when niso! such as a slabllisittion fund male given by thc Internation.1 the poUtic:aI conIIict in top gnJI\'tt used 10 cwhXx'l the efTtcts of pricc Monetary Fund for Ihe West '''''1' ""'" Iriggn<d ..., .. tigItt changes on world m.rk~ African nation _ IUflPIics that luve since been p«I'\'ftl Cocoa export profit windfalls Thc data, the first batch or on",""", arc lod~ in thc fund whm marfigures duc 10 be relcned quar· RtgubIor Cocobod is the Dc ket price& arc hrgh, This serves as burn for the countryi rocoa at a a buffcr and provide rCSOllrces to tcrly b,.the agency, showed thc economy was dragged down by ftxtd ratcolJ,23)ccdi:s., which atcw-· the govcmmenl for the payment the agriculturc ~cctor, which rent CKhangc niles is alnlOIt doubk of prodtKer prKCS dUring perloW was hit by poor rainfall and thepriaac::hit¥cd by IYurwt farmen of price falb. shrank by over l.S percent comIvoryCoast isscclUng toncale in 5OO1C regions - a differcntiaJ which pared to the year before. has prompted mUaioed smuggling • similar stabilisation mechanism to guarantee lIS rarm ers a mini oflYOria.n cocoa inlo Ghara Last year. analysts pollcd by Ikrc ~ no plans. nor pr0pos- mumprke.. Reule" forecast Senegal's econBut ror now Its (armgate prices omy would grow l y lfound four als 10 reduce the producc:r price now remain nighty volatile and dlportOf at lhe Ilart of the upcoming SQpercent in both 2ft I I and 2012. en and analysu foreasl an}..hing However, a tense and at IOn - ki:t ~ difficult 10 Justify tlw times vlolcnt ru n - up to the sort ofdecision and I don\ 5ft It hapup 10 145.000 lonnes could M presidential eJection In Februpening.-.saId Cocobod spokesman smuggled OUI ofthecountryln th c scason to end. April, with most of ary. which will g'l to a second Noah AmenYlIh. round on Marc h ~ S. has dt'nted '"Ihc number one objtcth'C is It bound for Ghana. the country's reputation for stato rom CIXOI Wmirlf!i atlraCtiYc to Ghanll produced a record bility In thc region and already our p«lpIc. indudmg the yuuth - ils more than 0f1C million lonllCS of cocoa. last ynr. An.l)'!'s and tJOldslowed «onomic activity. a reward I)'5!ml fOr them as stUlL"holden in our ~ 10 sigoiflCal1Uy cr. haft estimated up to a fifth or The tOUrism sector has becn impnM" prOOtKtion.,- Amenyah that was smuggled in from Ivory hit by low visitor numbers and Coast. but Cocobod disputa those analysts cited Scncg.1'1 poor 30 At least 500,000 farmers' families fJgUI'a and A)'I the bumper crop billion CFA franc lanuary trellur,. bond issue. which was only arc dtpmdcnt on cocoa in Ghana. was the rcsuh of'inlpnMd fuming 7J.S percent subs : ribcd. as evlPraidmt John Atta Mills Is scdting t«hniques and favuurabk weather. PRESIDENT Joh nAnil· MiIIlofGhilM • second lerm in what is apcctcd to (RnltDl) dente o( uncertainly. A lower Issue of IS billion , _ _ _ __ __ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ ,
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CFA fOlnc. in February was slightly OVtUUbKribed.. The two pefcent growth figure was given by Senegal's ANSO Itatlstlcs office In a flash report on the (ourlh quartcr of 1011. Thc IMF's <4 percent figure for 201 I was ilselfrevlsed down from 4.5 percent due to power culs, which g{ippc:d the country lUI year. The wont- performing st<:· tor for Ih. yur was .griculture, which shrank b,. 25.3 percent, the ANSD figure! showed_ Like many other countr ies In thc Sahel band lhat Slretchl's aero» Africa ju s t south of the Sahara. Sencgal's rain· fed agri culture was h it b" . poor rsiny St'ason last rear ( ReUlers)
Kenya sees stable food supply, may need some imports ~ KENYA expects a stable suppl yoffood in thcsix months to Junc on Improved output b ut may niU requirc 50nlC imporu o( maize 10 boost ilS stocks, the agriculture ministry said. Priccs of key staples In cast Africa's biggest economy. Including wheat, beans and malu could rise rurther. prc· scnling a mhed picture for inflation outlook. the ministry said In brief obtained by Reu Icrs. Ken)'ll said It planned 10 Impo rt 1.)5 million 9O-kg tngs of mail.c from regional and Intcrnational markets 10 bolster supplies despite bigger harvl'sts
folloWing recent good rains. The ministry said the nation.1 m.iu nodu as at Jan 31 .toad atl9.()4 million bags from 18_7 million the previous month and expected this to be sufficient untn June.. Keny.'s inDatlon r.l le climbed to ncarly 20 Iler cent last year on the back of rising food and energy prins. Bul the inflation cased to • lo ....er-than-ex pected 16.69 per cmtln February. helped by (alb in food and transport costs from a month carher. Tht' riSt' in food pricH Wol$ mainly driven by a prolonged droughL
Meanwhile, low watcr kvels at the hydro power dams tha t supply most of the country's electricity pU$hcd up energy bills .nd led 10 costly fud Imports to run thermal generators. The rcport said natio nal stocks Icvd of m aize as at June 30, 20121sestlmated to be. surplus or 55 million hags. which could casc pressure OD the pricH of the main staple rood. Rainfall d uring Kenya's long rainy Kason starting Ihls month is expectt'd 10 M near· normal but poorly disuibuted. metrorologlSlS pid on Tues<i1IY. (ReulasINAN)
PRESIDENT Nw~1II Klb"kl of Keny.