Emmanuel Adou, a palm farmer, observes engineers preparing a drone on his farm in Sikensi, 80 km from Abidjan, the Ivorian economic capital. Emmanuel is one of the growing number of farmers who are turning to Unmanned Aerial Vehicle (UAV) technology to boost agricultural production.

For him, the days of gruelling work in his plantation are over, since he sought the help of the Investiv group, an Ivorian company specializing in precision agriculture...read more on https://www.commodity-port.com/cote-divoire-how-drones-are-helping-agriculture/

Political and economic uncertainty often result in currencies depreciating on the international exchange system, warranting that we invest in wealth hedges like gold and Krugerrands in order to preserve our wealth.

A noteworthy reminder is 1980 when gold reached over $800 per oz after Russia invaded Afghanistan. The same year, a limited amount of the fractional Krugerrands was first minted.

The authorized mintage was 100, but only 60 people accepted the invitation to buy the set and the final mintage is very low and they are extremely rare, says the Scoin Shop. They added: “These coins are so scarce that they are now worth approximately R150 000 for a set of 4 coins.”

Krugerrands, the 1 oz bullion coin, was the creation of the SA gold industry in 1967. It recently hit a new world and South African record of R22 500 per coin.

As threats continue being traded between major world powers, the international world order and the rand are equally untenable. For instance, in June this year, the rand hit record lows. This prompted a surge in the price of gold, which reached a five-year high of $1400 per oz.

This trend had started getting more pronounced especially since December last year, when the metal noticeably began picking up old and new fans in larger numbers. This marked interest in gold can in fact be traced to the past
few years.
“The demand for gold from collectors, investors and institutions is increasing which is evident in the holdings of the gold ETFs,” said the South African Gold Coin Exchange in a statement.
The statement cited banks, asset managers, stockbrokers and wealth managers as well as the media as among those talking up gold as the next big thing.

Analysts also point out that gold is even more attractive with Interest rates set to fall in the USA. Experts also contend that the groundwork has been laid for the next bull market, what with escalating trade wars and war games across the globe causing a great deal of concern.

This makes now the perfect time to find shelter in Krugerrands. Says the Scoin Shop: “South Africans have the best currency and rand hedge in their own back gardens in the form of Krugerrands. From a low of R27.50 in 1967, Krugerrands have reached a very respectable R22 500 some 52 years later.”

The rand’s fall was responsible for this high, according to the Scoin Shop. They said: “It was the perfect storm that created this scenario and holders of coins and their heirs must be satisfied that the perfect rand hedge gives them the edge.”

The Scoin Shop started in 1999 when gold was $300 an oz and has created thousands of new collectors and investors.

Krugerrands were first sold at the Rand Easter Show and are today sold by coin and gold dealers, jewellers, coin distributors, banks, wealth managers and investment advisors throughout the world, said the Scoin Shop.

They added that Krugerrands have spawned a 1 oz bullion coin industry with over 150 million different coins minted to date such as the US $50, Canadian maple leaf, Austrian Philharmonic and the Chinese Panda to name a few.

“This has also helped create a large group of collectors numbering some 300 million presently. In turn, Mints have created limited-edition variations of these coins which have grabbed the attention of collectors and investors internationally,” said the Scoin Shop.

Source: iol.co.za

for more commodity news: https://www.commodity-port.com

The African Energy Chamber (AEC) is collaborating with the Institute for Petroleum Development at the University of Austin, Texas, to bring its comprehensive international training programme to Cape Town from 14-25 October

This International Petroleum Management Programme (IPMP) is an industry reference and has been designed for leaders of international oil companies, national oil companies, services companies, law firms and government agencies in addition to individuals with a background in engineering, economics, geology, finance, law, accounting and corporate planning.

It is based on the course delivered by Prof Krishan A. Malik and is a result of more than three decades of experience and training. The course has been delivered to more than 250 CEO’s and leaders of national and international oil companies, government officials, private and public institutions from the four corners of the globe.

Nj Ayuk, executive chairman at the Chamber and CEO of the Centurion Law Group, said, “The oil and gas industry is the backbone of most African economies and will continue to be for a long time. While we keep working with all players to unleash the full benefit of oil to Africans, training and developing executives is key as preparation prevents frustration.”

“The training programme will offer a unique opportunity for African executives and dealmakers to receive training of high quality and international standard, which will ultimately benefit African exploration and production companies, governments and countries in building a robust hydrocarbons sector,” he added.

Alumni of this programme have had distinguished careers with ExxonMobil, Chevron, Shell, China National Offshore Oil Corp, Egyptian General Petroleum Corp, Nigerian National Petroleum Corp., Abu Dhabi National Oil Company, Gazprom, Petrobras, Petronas, National Enterprise for Hydrocarbons (Mozambique), National Oil Corporation of Kenya, Anadarko among others.

Glenda Irvine-Smith, director of business development and international relations at the Centurion Law Group, stated, “Given the exclusive opportunity of presenting this programme on the African continent for the first time, it is all-natural that Centurion would be a legal partner of this initiative.”

“The IPMP is a unique opportunity offered to young African leaders and we are delighted to be part of it,” she noted.

Registered participants represent companies operating in Algeria, Angola Cameroon, the Chad Republic of the Congo, Democratic Republic of the Congo, Côte d’Ivoire, Egypt, Equatorial Guinea, Senegal, South Sudan, Uganda, Ghana, Namibia, Gabon, Ghana, Libya, Mauritania, Niger, Nigeria, South Africa and Sudan.

Source: oilreviewafrica.com

For more daily news: https://www.commodity-port.com

Akinwumi Adesina pulled a rabbit out of the hat at a shareholders meeting, raising the prospect of another election victory.

At the helm of the African Development Bank (AfDB) since 2015, Nigeria’s former agriculture minister Akinwumi Adesina won a major battle by convincing international shareholders to participate in the bank’s next capital increase.

“We had vigorous debates. And I have taken many notes on what you said, I can guarantee you that,” said Adesina at the 54th Annual Meeting of the AfDB, in Malabo, Equatorial Guinea last month.

“All the governors agreed on the need for a substantial increase in capital,” Côte d’Ivoire’s development minister Kaba Nialé said on the sidelines of the Malabo meeting.

Devil in the details
However, the bank still needs to reach a consensus on the level of funding. Adesina would like to see the capital base double, but that is opposed by most non-African shareholders. “We will reach a final agreement [on this issue] at a meeting in Sharm el-Sheikh, Egypt in September and we will act on it in October in Abidjan,” said Nialé.

While completing the capital increase, the AfDB’s eighth president is also thwarting opposition to his re-election. “President Adesina has done a tremendous job. He was able to give scale and dimension to our bank, in terms of financing volume, ambition and above all vision,” said Nialé.

While Niale openly supports Adesina, others are more cautious, playing their cards close to their chests.

“The election will be held in 2020. Of course, applications are open. I invite you to be with us next May to find out who will be the fortunate one,” said Ingrid Ebouka-Babackas, Minister of Planning of Congo.

Criticisms
The bank has disbursed more than $34bn in the past seven years, but non-African governors are critical of the institution’s weaknesses, calling for further reforms. The AfDB claims the personnel vacancy rate is dropping, reaching 14% at the end of 2018.

Japan is willing to support “reasonable levels of equity capital” on condition that AfDB management “strengthen staff and organisational capacity,” according to Shinichi Isa, Japan’s undersecretary of finance.

“The bank is not yet where it should be to ensure an effective service and should strengthen its institutional capacity, improve operational quality and adopt a management system based on results rather than the volume of loans,” said Mathew Haarsager, deputy assistant secretary of the US Treasury.

However, some international shareholders are making demands that are far from the continent’s priorities or completely contradict them. For example, the United States has focused on cost control, while disengaging from the continent’s fight against climate change.

Big shoes to fill
Two previous bank presidents, Morocco’s Omar Kabbaj (2000) and Rwanda’s Donald Kaberuka (2010), were re-elected by acclamation. However, early into his mandate, Adesina faced a string of resignations. Three vice-presidents – Ghana’s Solomon Asamoah, Côte d’Ivoire’s Albéric Kacou and Tanzania’s Frannie Léautier – left his side.

“We will strengthen institutional, human and operational capacities,” promised Adesina.

The bottom line: Akinwumi Adesina has his work cut out for him if he wants to remain the president of the AfDB. He needs to reassure African and non-African shareholders while responding to his critics and revamping the institution.

Source: theafricareport.com

For more daily news: https://www.commodity-port.com

Food and Agriculture Organization (FAO) warns of Desert Locust outbreaks in Yemen and the Horn of Africa

Desert Locust summer breeding, amplified by heavy rains, can pose a serious threat to agricultural production areas of Yemen, Sudan, Eritrea and parts of Ethiopia and northern Somalia during the next three months, FAO warned today. This could result in potentially adverse impacts on the agricultural seasonal yields and local economies affecting food security and livelihoods of the populations in the countries concerned.

Intensive ground and aerial control operations were mounted in Iran (712 000 ha), Saudi Arabia (219 000 ha) and Sudan (105 000 ha) this year that undoubtedly reduced locust populations but could not entirely prevent swarms from forming and moving to the traditional summer breeding areas in Yemen, Sudan, the Horn of Africa and along both sides of the Indo-Pakistan border.

There is a moderate to high risk of the Desert Locust situation escalating further in the interior and coastal areas of Yemen and in the interior of Sudan, causing swarms to form that would threaten agricultural production by the end of the summer. This will be followed by further increases along both sides of the Red Sea during the upcoming winter from November onwards.

Yemen, the world’s current worst humanitarian crisis, is the most concerned and at highest risk because of widespread hopper band infestations and heavy rainfall that will cause swarms to form from this week onwards, which could give rise to another generation of breeding by the end of August if weather conditions remain favourable to locust breeding.

In the worst-case scenario, swarms could migrate from Yemen in the autumn to the Horn of Africa and reach Kenya by the end of the year, unless urgent preventive and control measures are established in the region. Desert Locust swarms last invaded Kenya in 2007 and aerial control operations were required to bring the situation under control.

In northeast Somalia, mature swarms were seen at several locations during the past weeks, causing substantial crop damage. Hopper bands are now forming along the northwest coast and probably in the northeast from eggs laid by the swarms. This could give rise to new swarms by about late August.

Similar breeding is expected to occur in eastern Ethiopia while groups of adult locusts may move from the northern region of Amhara to the summer breeding areas in western Eritrea and the interior of Sudan.

In Sudan, high numbers of adult populations are present in the Nile Valley while scattered adults appeared recently on the Red Sea coast and in North Kordofan where summer breeding will occur.

Dangerous creatures
After becoming airborne, swarms of tens of millions of locusts can fly up to 150 km a day with the wind. Desert Locusts (Schistocerca gregaria) live about three months, and a female locust lays about 300 eggs. A Desert Locust adult can consume roughly its own weight in fresh food per day — about two grams every day. A very small swarm eats the same amount of food in one day as about 35 000 people.

Urgent action needed to prevent the spread and save crops
Urgent Desert Locust control operations are required to safeguard crops and mitigate the risk of infestation in Yemen, as well as to prevent locust swarms from invading the neighbouring countries.

In Yemen, survey and control operations are hindered by insecurity in locust breeding areas and insufficient capacities such as equipment and operating funds. To partially address this, FAO has rapidly mobilized $100 000, thanks to a contribution from Belgium through the Special Fund for Emergency and Rehabilitation Activities (SFERA), and $200 000 from its own resources to mount a much-needed anti-locust campaign. FAO is already implementing a number of urgent measures to support surveillance and control operations in the breeding areas.

The UN agency has also initiated the process of purchasing additional equipment to increase the capacity of the Ministry of Agriculture to enable timely control of locust in the infested areas. In addition, FAO has launched a general appeal to the international community.

The primary beneficiaries are farmers, livestock breeders and nomads who live in the Desert Locust infested areas, and whose livelihood will be protected from the damages that the increased locust infestations would cause to agricultural production and pastures. The assistance will help around 100 000 people in Lahij, Shabwah, Hadramout, Abyan, Sana’a and Al-Hodeidah provinces in saving their crops, thus preventing crop losses, which can result in increased hunger and poverty in rural areas that are already impacted by ongoing conflict.

While Sudan is much better equipped and prepared than some other countries in the region, the current political situation in the country may reduce the effectiveness of operations this summer. Capacities in Eritrea, Ethiopia and northern Somalia also remain relatively limited.

Given the seriousness of the current locust situation, all countries must monitor the field conditions by mounting regular ground surveys and undertaking the necessary control measures whenever important locust infestations are detected.

FAO operates a Desert Locust Information Service that receives and analyzes data from locust-affected countries to assess the current locust situation, provide forecasts and if necessary issue warnings and alerts in order to keep the global community informed of locust developments and threats.

Source: africanews.com

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Vice President Dr Mahamudu Bawumia has explained to a group of Canadian investors why Ghana is the best investment destination in Africa for both local and foreign investors.

According to Dr Bawumia, not only do Ghana’s political stability and security as well as benign legal and regulatory environment offer the best investment climate, the large domestic market and macroeconomic stability of Ghana puts it high as a favourable investment destination of choice in the African continent.

https://www.commodity-port.com/africa-by-next-decade-if-you-are-not-in-ghana-you-are-not-in-africa-bawumia-to-canadian-investors/

The Nigerian government has agreed to a deal with the German energy company in an attempt to fix the country’s unreliable electricity grid.

Nigeria has signed a six-year power deal with German energy giant Siemens, which will result in the production of at least 25,000 megawatts of electricity by the year 2025.
The deal was first outlined in a meeting between Nigeria’s President Muhammadu Buhari and Germany’s Chancellor Angela Merkel in August 2018.

“We all know how critical electricity is to the development of any community or indeed any nation,” Buhari told reporters following confirmation of the deal on Monday. “And whilst we are blessed to have significant natural gas, hydro and solar resources for power generation, we are still on the journey to achieving reliable, adorable and quality electricity supply necessary for economic growth, industrialization and poverty alleviation.”

Buhari reportedly asked Siemens to work alongside the Transmission Company of Nigeria to achieve 7,000 megawatts and 11,000 megawatts of reliable power supply by 2021 and 2023 respectively, before the contract lapses.

In an interview with DW, the CEO of Siemens, Joe Kaeser, said his company is determined to see the deal through.

“[President Buhari] made it very clear in his speech that he wants to get this done now, together with reliable engineering partners — European and German engineering style,” Kaeser said. “And I personally promised to him that we are going to make this work.”

‘A perfect partner for the Nigerian people’
Nigeria has been experiencing an energy supply crisis for years, with approximately only 40% of the country’s population connected to the grid. Even those who have access to electricity frequently experience interruptions, with the average daily power supply estimated at around four hours.

Siemens CEO Joe Kaeser Siemens CEO Joe Kaeser told DW he is confident his company will deliver on its promises to Nigeria
In an attempt to solve the problem, many power reforms implemented since 2005 have focused on privatizing the generator, instead of repairing and upgrading the country’s grid.

Kaeser stressed to DW that Siemens will tackle the daunting task based on its expertise in the sector. The company also agreed to a similar roadmap deal with Iraq in April.

“We have a generation of all sorts: Conventional power generation, renewable energy, we have transmission, we have distribution,” Kaeser said. “We can help with oil and gas and we can even supply digital platforms. So, we have the whole value chain unlike any other company in the world, and that’s why I believe we are a perfect partner for the Nigerian people.”

So far any discussions about potential costs have been kept under wraps.

“[President Buhari] and I didn’t talk about money, we talked about [the] partnership and how we will get it done technically,” Kaeser said. “We will soon enter into the first phase of the contract and then we will take it from there.”

A man walks past a broken electricity transformer in Lagos, NigeriaCorruption and mismanagement have left Nigeria’s electricity grid in open disarray
Mixed reactions
Reactions by Nigerians over social media to news of the Siemens deal were mixed, with some believing the government’s promise of dramatic improvements to Nigeria’s power sector were too good to be true.

“It’s just a distraction from other burning issues Nigeria is facing, like bad governance, insecurity, rising inflation, unemployment,” Okonofua Eromosele Joseph wrote on the DW Africa Facebook page.

Others are more optimistic that the deal will finally bring Nigeria’s electricity woes to an end.

A complex energy crisis
Nigeria’s energy crisis is somewhat ironic considering the country has access to some of the world’s largest and most profitable oil and gas reserves. Poor policy, ongoing corruption and dilapidated infrastructure have all played a role.

“The policymakers are out for themselves, so they will hardly give an accurate representation of what will address our electricity problems,” Nigerian lawyer Buhari Yusuf told DW.

Siemens’s plan is essentially being presented as a roadmap to improve Nigeria’s capacity to deliver electricity across the value chain, serving as a prerequisite for further industrialization and digitalization.

Yusuf thinks the nature of the deal will help to eliminate any chances of corruption higher up the chain.

“I think we shouldn’t be recklessly optimistic about what we are expecting,” he said. “But I hazard to say that with Buhari at the head, there will not be corruption at the top level of the process. The company involved has made a good name for itself, so it won’t want to be dragged into our system of corruption. We should be more concerned with the bureaucratic level.”

Supplying electricity to all corners of a country is a difficult task in any case. Because of this, most countries decentralize authority of the energy sector, as well as sources of the generation. However, Nigeria has done the opposite: In 2005, the Obasanjo administration established the National Electricity Regulatory Commission (NERC), to act as an independent regulatory body with authority over regulation of Nigeria’s power industry. This power structure has created conditions for corruption to thrive, hindering any attempts to solve the energy crisis.

A man refuels a small generator in Lagos
Many Nigerians rely on their own private generators to keep their homes and businesses running
Running out of time
Nigeria is now up against the clock to secure a reliable source of power, with a functioning, high-energy grid now becoming increasingly necessary to sustain its rapidly-growing economy.

The Nigerian economy has been held back for years by chronic mismanagement, but recent reforms have transformed it into one of Africa’s most powerful economies. It is already Africa’s most populous country and an expected demographic boom in the coming decades means an increasingly young population will be in search of jobs — which also requires an operational and reliable grid.

“Our population is growing day by day and our policymakers ought to have understood the fact that it leads to economic activities that will require a high dosage of electricity,” said Yusuf. “These are not issues that can be handled by people who are corrupt.”

Source: dw.com

Read the original article and more stories here: https://www.commodity-port.com

Agriculture is the oldest work field on earth, with evidence dating back as early as 9,500 BC. But despite its history, the sector is far from becoming irrelevant. In fact, the opposite is true: Even today, it is the cornerstone of all human life throughout the world, with an ever-increasing population that is making it more relevant every single day.

Being a historic sector, agriculture is always going through major developments and changes to fit the times and needs of populations. From the Middle Ages, when Muslim scholars and farmers applied hydrostatic principles to build the first water-weels, to modern applications of chemistry and genetics for more efficient and quality agricultural crops, new technological developments are utilized on a daily basis.

read more: https://www.commodity-port.com/rwanda-can-become-one-of-africas-leading-exporters-of-agricultural-products/

majamajic:
prices in US dollars or Zimbabwe dollars ?

In Zimbabwean dollars (ZWD).
1 USD is 361.9 ZWD

The agricultural sector is an engine of job creation in Africa and accounts for about 60% of total employment in the sub-Saharan region, while the share of jobs across the food system is potentially much larger.
While expanding land under cultivation has boosted African agricultural production, it has come at an environmental cost. Technology has the answer to intensifying agricultural production sustainably without harming the environment, whether by providing access to finance for farmers, powering cooling systems for fresh produce or improving communications with markets

https://www.commodity-port.com/four-agriculture-focused-companies-to-inspire-africa/

The World Bank responded to strong demand from the Middle East and North Africa Region (MENA) during the financial year that ended on 30 June 2019, with $5.47 billion in new commitments to invest in people, expand the private sector, and set a course for digital transformation.
long with the financial commitments, the Bank delivered a wide range of analytical products in support of development goals of MENA countries.

Read more here: https://www.commodity-port.com/mena-region-requires-5-47bn-to-transform-its-economies/

The Zimbabwe Energy Regulatory Authority (Zera) Monday announced new prices of fuel, a move that suggests government is moving towards Finance Minister Mthuli Ncube’s wish to have it in line with the interbank value of US$1.
According to a Zera announcement early Monday, the new price of petrol is now $7.47 from $6.10 and diesel now $7.19 up from $5.84.

Read more: https://www.commodity-port.com/zimbabwe-fuel-prices-up-again/

Range trading appears to have given way to steady gains for gold, with higher lows and higher highs seen since last Wednesday.
Further gains target $1450, with the overnight pullback finding support at $1420. A move back below $1415 suggests some near-term weakness that might find support at $1400.
https://www.commodity-port.com/gold-price-and-oil-price-both-rally/

Other enterprises benefiting from the fund include poultry, fish farming, groundnuts, and soybeans, while tree crops, sesame, tomato, and livestock productions, which are currently on the drawing board, would be implemented soon.
Managing Director/Chief Executive Officer, of Bank of Agriculture, Mr. Kabir Adamu, disclosed this at Umuahia, Abia State, during the inauguration ceremony of the 2019 farming season by the bank in conjunction with the Federal Ministry of Agriculture and Rural Development and Abia State government.

Read more: https://www.commodity-port.com/farmers-cultivate-477642-hectares-as-nation-expects-high-yields/

A number of partnership deals in fertiliser production, oil & gas and technology attests to an upswing in economic relations between Nigeria and Morocco. Experts say Nigerian tech startups and Micro, Small, and Medium Enterprises (MSMEs) can achieve scale and create jobs by latching on the various opportunities thrown up by this blossoming economic collaboration.
Nigeria’s search for economic collaboration that promises to add immense value to her productivity and global competitiveness appears to have, of late, centred largely on Morocco.

Read more: https://www.commodity-port.com/nigeria-morocco-partnership-leeway-for-tech-startups/

Angola: Cabinda Shipping Services, DSHI and DB Group sign Heads of Agreement

https://www.commodity-port.com/angola-cabinda-shipping-services-dshi-and-db-group-sign-heads-of-agreement/

Platinum has been the least precious of the precious metals

https://www.commodity-port.com/platinum-creeps-higher-what-a-tease/

Commodities were on mostly sound footing in the first half of 2019. The S&P GSCI returned more than 13 per cent as of June 30, one of the best first six months in recent memory. It was not without its challenges, though.

In a repeat of last year, crude oil was the top-performing commodity, up 28.76 per cent as of June 30. Price action was driven mostly by tensions in the Middle East as well as extended supply cuts by the Organization of Petroleum Exporting Countries (OPEC) and its allies. Global growth concerns began to put pressure on oil in April, but prices surged following June’s attack on two tankers near the Strait of Hormuz, for which the U.S. blamed Iran.
Read more: https://www.commodity-port.com/oil-is-fueling-the-commodities-rally-2019-halftime-report/

Investors’ 11-year wait for the Nigerian government to open up Africa’s biggest crude industry may be over.

An overhaul of oil policy that’s been in the works for more than a decade is among a raft of laws President Muhammadu Buhari could steer through parliament in his second term to help drive investment in the oil-dependent economy. The delays cost an estimated $15 billion a year in lost funding for the industry over the past decade, according to the Petroleum Ministry.
The ability to implement reforms would mark a departure from Buhari’s first four years in office, when he faced hostile leaders of both chambers of the legislature. Since his re-election in February, Buhari loyalists have taken over as the heads of the Senate and the House of Representatives.

“Expect an improved level of harmony between the National Assembly and the president going forward,” said Luke Ofojebe, an analyst at Lagos-based Vetiva Capital Ltd.

The urgency to get the oil reforms going was signalled by a July 4 meeting between the new Senate president, Ahmed Lawan, and head of Exxon Mobil Corp.’s Nigerian unit, Paul McGrath, where they discussed the quick passage of the bill.

Read the full article here: https://www.commodity-port.com/oil-giants-note-nigeria-now-has-a-chance-to-open-its-fields/

Olusegun Obasanjo, the former president of Nigeria, believes Morocco is emerging as one of Africa’s foremost leading voices on agricultural policies, sustainable development, and food security.
As Morocco “looks south” and claims its leadership role in Africa, agriculture has proved to be one of the key areas in the kingdom’s expertise sharing platform with fellow African countries.

Read more: https://www.commodity-port.com/nigerias-obasanjo-commends-moroccos-role-in-africas-aspiration-to-attain-food-security/

More academic programmes in nuclear science and technology must be established, and coherent strategies to curb ‘brain drain’ of African experts must be developed if the full potential of nuclear technology for development is to be maximised in Africa. These were the conclusions of 23 Vice-Chancellors of universities across 16 countries in Africa and representatives of regional and international academic bodies who met from 17 to 19 June in Marrakech, Morocco, to develop practical measures and explore potential collaboration to address regional human resource capacity gaps in this field.

Read full report here: https://www.commodity-port.com/brain-gain-iaea-organizes-second-regional-meeting-of-vice-chancellors-of-african-universities/

The Speaker of Parliament, Donatille Mukabalisa, has called for greater efforts in pushing for gender equality in the African continent specifically in the area of agriculture which is the source of livelihood for most people on the continent.
Mukabalisa said this in Kigali yesterday while officially opening a learning exchange that will see the representatives from 15 countries to discuss gender equality and investments in agriculture and food security.
Read more: https://www.commodity-port.com/mps-push-for-more-women-participation-in-commercial-farming/

The UN Food and Agriculture Organization (FAO) has launched a campaign to make women primary stakeholders in the field of agriculture investments in the African continent, by working with regional legislators, to strengthen legal frameworks.It has suggested to form a coalition of regional parliamentarians, to influence policy institutions in the continent, to give women their dues in the agriculture economy, at par with male members.

Addressing parliamentarians from 15 African countries, who had converged in the Rwandan capital city of Kigali, the FAO Country Representative to Rwanda Gualbert Gbehounou, sought support form legislators to help women engaged in the field of agriculture.
Gbehounou noted that despite women playing the primary role in agricultural production and rural household incomes, they have limited access to land.

“There is a need to transform and strengthen legal frameworks for empower women in agriculture and enable them to benefit equitably from agricultural investments,” he said.
The three-day meeting was organized by FAO bringing together parliamentarians from the Economic Community of Western African States (ECOWAS) bloc, to apprise them about the need to enforce gender equality in the field of agriculture.

Read more: https://www.commodity-port.com/fao-launches-campaign-to-end-gender-bias-in-farming/

According to 2018 environmental performance index (EPI) result, Nigeria ranks 100th, while Switzerland tops the list and Burundi bottoms the list at 180th position.

The flow of Chinese money into Africa is growing fast, with agriculture attracting a sizeable chunk. In 2014, Africa received around 12% of China’s overseas agricultural investment and the proportion continues to grow, according to a 2018 USDA report, which based its calculations on Chinese government data.
Read more: https://www.commodity-port.com/china-ramping-up-investment-in-african-agriculture/

Oil prices fell on Monday on mixed Chinese economic data and signs that the impact of a tropical storm on U.S. Gulf Coast production and refining would be short-lived.
Chinese industrial output and retail data topped expectations, but overall figures showed the country’s slowest quarterly economic growth in decades, dimming the outlook for crude demand.
Brent crude futures LCOc1 dropped 12 cents to $66.60 a barrel by 12:04 p.m. EDT (1604 GMT), while U.S. crude CLc1 shed 40 cents to $59.81 a barrel.
Crude oil imports from China fell in June for a second straight month, but analysts at ANZ bank said China’s imports year-to-date still looked strong.
China’s oil throughput rose to a record 13.07 million barrels per day in June, up 7.7% from a year earlier, following the start-up of two new large refineries, official data showed.
Still, economic growth of just 6.2% in the second quarter of 2019 - the weakest in 27 years...

Read more: http://www.commodity-port.com/oil-prices-slip-on-mixed-chinese-economic-data-storm-impact/

Here's why West Africa is becoming the world's piracy hotspot

https://www.commodity-port.com/heres-why-west-africa-is-becoming-the-worlds-piracy-hotspot/

Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”), an oil and gas company with exploration assets offshore South Africa and Namibia, is pleased to announce that the joint venture partnership for...

https://www.commodity-port.com/africa-energy-announces-signing-of-rig-contract-for-block-11b-12b/

What is the business of Welcome2Africa?
Our vision is to catalyze finance and investments in Africa. But right now we are very much focused on agribusinesses. One of the main reasons for this is that I saw at a time that there was a disconnect between the opportunities and those that...

Read more: https://www.commodity-port.com/how-to-secure-agribusiness-funding-without-banks-by-welcome2africa/

Billions are spent on humanitarian aid, yet nearly 60 million children across Africa go to bed hungry.
Efforts to alleviate the constant cycle of droughts, poverty and war have caused new problems. The biggest of these is a crippling dependency on food aid that is undermining much of the continent’s efforts to feed itself.

Read more: https://www.commodity-port.com/wiping-out-hunger-in-africa-could-cost-just-5bn/

The United Nations has warned of drought, disease and war preventing farmers from producing enough food for millions of people across Africa and other regions, leading to the need for major aid operations.
A report called the Crop Prospects and Food Situation by the U.N.’s Food and Agriculture Organization (FAO) says that shortages of grain and other foodstuffs have left people in 41 countries — 31 of them in Africa — in need of handouts...

Read more: https://www.commodity-port.com/drought-disease-and-war-hit-global-agriculture-says-u-n/