Gabon restricts wood exports

The Gabonese government has imposed a definite ban on three highly priced wood species. The announcement comes a decade after the ban on logs in this Central African nation. The news has been welcomed by small operators.

They see the plan as an opportunity to protect segments of the processing sector and lower prices of raw materials. But industry players say the move could cost investors their cash.

And Egypt’s borrowing needs would likely reach 820.7 billion Egyptian pounds or $48 billion in the 2019/2020 fiscal year. This is an increase of 26 percent from 2018, a draft budget cited by Reuters show.

We must now declare these essences to be the heritage of the Gabonese people. Therefore, inalienable and cannot be sold
[9:55 PM, 4/27/2019] Newman Great’st: Olam Offers $362M to Buy Nigeria’s Dangote Flour Amid Focus Shift
[9:56 PM, 4/27/2019] Newman Great’st: Olam International Ltd. made a cash bid to buy Dangote Flour Mills Plc of Nigeria as the Singapore-based agriculture trader looks to expand in West Africa as part of a rejig of its portfolio.

Olam will offer 130 billion naira ($362 million) for Lagos-based DFM, which is part of the business empire of Aliko Dangote, Africa’s richest man. The price was calculated on a debt-free basis, and will be adjusted to account for net borrowings, the Nigerian company said in a statement on Tuesday.

The move sees Olam going back to its roots. The company was founded in Nigeria as an exporter of cashew nuts 30 years ago, and has since grown into a global behemoth with operations in more than 60 countries and a market value of $4.5 billion. The deal will enable it to build on a country workforce of almost 3,000, while tapping local demand for bakery, snacks and pasta products.

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