Category Archives: Guinea News

Guinea News

Guinea: SMB-Winning announces a US $ 3 Billion Investment

In 2018, the SMB-Winning consortium will launch feasibility studies for the construction of an alumina refinery and a railway line to be built by 2022 read more

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AfDB launches pilot programme to cultivate the savannah in eight African countries

 

The savannahs of Africa cover a mind-boggling 600 million hectares, of which 400 million hectares are cultivable, the President of the African Development Bank (www.AfDB.org), Akinwumi Adesina, has said. read more

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IMF Reaches Staff-level Agreement with Guinea

  • IMF staff and Guinean authorities have reached a staff-level agreement on a program of economic policies and reforms that could be supported by an Extended Credit Facility (ECF) arrangement.
  • The program will support Guinea’s 2016–20 National Social and Economic Development Plan to foster higher and more broad-based growth, and reduce poverty while maintaining macroeconomic stability and debt sustainability.
  • A prudent borrowing strategy that aims at maximizing the concessionality of external loans will be key to preserve medium-term debt sustainability.

Following discussions between the Guinean authorities and IMF staff in Conakry from July 31-August 15, 2017[1] and during the 2017 Annual Meetings in Washington in October 2017, a staff-level agreement was reached on a program of economic policies and reforms that could be supported by an Extended Credit Facility (ECF) arrangement. Subject to IMF management approval, the staff-level agreement is expected to be submitted to the IMF Executive Board for its consideration in November 2017. read more

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Guinea: Real growth is expected to 6.7% in 2017

  • Significant progress was made in discussions of the economic policies and reforms that could be supported by a new IMF arrangement
  • Real growth is expected to 6.7% in 2017 supported by dynamic activity in the mining and construction sectors and good agricultural performance;
  • Average inflation would remain moderate at 8.5 percent in 2017.

An International Monetary Fund (IMF) mission led by Giorgia Albertin visited Conakry from July 31 to August 15, 2017 to negotiate a new program that could be supported by an Extended Credit Facility (ECF). read more

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Guinean Delivery Unit initiates a partnership to reclaim leadership position in pineapple exports to the European Union

Pineapple producers buying fertilizers within the framework of the pilot read more

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Guinea: IMF sees raising infrastructure spending while maintaining macroeconomic stability will help boost long-term inclusive growth prospects

IMF Staff Completes a Staff Visit to Guinea

  • Economic activity in Guinea is rebounding, with signs pointing toward continued growth over 6 percent.
  • Fiscal consolidation including increased revenues and reduced government spending have brought the basic budget deficit down to 0.7 percent of GDP in 2016.
  • IMF sees raising infrastructure spending while maintaining macroeconomic stability will help boost long-term inclusive growth prospects.

An IMF staff team led by Giorgia Albertin visited Conakry from May 15 to 25, 2017, to discuss recent economic and financial developments and Guinea’s economic prospects. The team prepared the ground for a future visit for the negotiation of a new IMF-supported program. read more

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Africa Finance Corporation: Sole Investor in Guinea’s Bauxite Exploration with $205m

africa finance corporation

Africa Finance Corporation (AFC) has announced that a plan to invest 205 million USD in Guinea as an effort to help boost mineral exploration in the country through Alufer Mining Company (a Guinea based mineral exploration company) at their high grade bauxite reserve, Bel Air mine. The Bel Air mine is targeting release its first production by 2019 with an expected 10 million tonnes a year. The global bauxite supply is currently falling deficit to growing demand and thus, the development of AFC will increase production to contribute to global demand. read more

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Marriott International debuts First Hotel in West Africa with Sheraton Grand Conakry

Marriott International debuts First Hotel in West Africa with Sheraton Grand Conakry read more

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InterCEL + and Cambridge Broadband Networks (CBNL) build breakthrough Wireless Network to boost Broadband in Guinea

The project is set to provide a significant boost to local economies across Guinea, offering businesses affordable access to fibre-like broadband speeds that enable a wealth of advanced communications read more

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UK Trade Mission visit in Guinea

A UK trade delegation visited Guinea from October 31 to November 3, 2016 to meet with local mining companies. The objective of this mission was to meet with mining stakeholders in Guinea to find business and partnerships opportunities. The delegation included representatives of some companies such as Concrete Canvas, PW Mining International Limited, SRK Consulting, Joy Global, MonuRent and the UK International Trade Department. read more

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Commodities, Rainfall, Instability Biggest Challenges —African Ministers

  • Rising inflation, drops in currency due to political instability
  • Low commodity prices adding to fiscal pressures
  • Help from international community “paramount”

Low commodity prices, climate change, and insecurity are forcing many countries to make significant fiscal adjustments, African finance ministers said during the IMF-World Bank Spring Meetings in Washington D.C. read more

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The Diamond Industry and African Socio-Economy

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REQUEST FOR EXPRESSIONS OF INTEREST (CONSULTING SERVICES)

Revitalisation of the Inter- African Coffee Organisation (IACO): Preparation of the 2017-2022 and Strategy and Institutional Review. read more

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Les biotechnologies agricoles au service des petits exploitants

Colloque international à la FAO du 15 au 17 février 2016 read more

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