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Algeria announces ban on food export amidst potential global crisis

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Amidst the possibility of a food outbreak of a global food crisis in connection with the ongoing Ukraine/Russia war, President Abdelmadjid Tebboune of Algeria on Sunday, signed off an order to ban exportation foods it imports, such as sugar, vegetable oil, pasta, semolina and wheat derivatives.

The announcement followed a meeting of the Council of Ministers.

The presidential decision means that not only Algerian economic operators are not allowed to export food products made from imported raw materials, but also they risk legal action in case of infringement.

In addition, the Algerian President asked the government to “continue to completely ban the import of frozen meat and to encourage the consumption of locally produced meat”.

The new step by Algeria came as other countries have begun measures to safeguard their food reserves amid a rising food crisis resulting from the Russian invasion of Ukraine last month, which has aggravated a global surge in prices of key commodities, including food and oil.

Bread and other wheat-based products are staples of the diet in North African countries, which have been hard hit by the fallout of the Russian invasion of Ukraine.

Russia and Ukraine provide many countries with most of their wheat and vegetable oil supplies.

Slamreportafrica.com reported last week that Egypt’s Prime Minister, Mostafa Madbouly, has announced that the country will diversify its sources of wheat to avoid relying on what he described as “specific sources” for this product.

Also last week, the richest man in Africa and chairman of the Dangote Group, Aliko Dangote of Nigeria, warned Nigerians to be prepared for an impending food crisis within the next two to three months.

Mr Dangote, then advised the government to immediately stop the ongoing export of maize abroad by some Nigerians, blaming the development on the ongoing conflict between Russia and Ukraine.

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World Bank predicts Mozambique economy growing at 5.7% on average

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The World Bank has predicted that the economic growth in Mozambique is expected to accelerate in the medium term averaging 5.7% between 2022 and 2024, as a result of demand recovery and economy benefits from the start of liquefied natural gas production this year.

In a report released Thursday, the World Bank said the start of LNG production at the offshore Coral Project and the expected resumption of other LNG projects would help spur the southeast African nation’s growth in the intervening year.

The World Bank said a three-year extended credit facility arrangement agreed by Mozambique with the International Monetary Fund (IMF) and budget support from other partners would further help to strengthen its economic recovery.

The IMF’s executive board had, in May, approved a $456 million program for the country, the first since the global lender suspended support to Mozambique six years ago.

However, the World Bank warned that risks remained for Mozambique’s growth, especially from rising import prices due to the conflict in Ukraine, a possible surge in COVID infection waves, and insurgency in the north.

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Nigeria, Algeria, Niger to revive Saharan gas pipeline talks

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The governments of Nigeria, Algeria and Niger Republic have held talks to revive a gas pipeline project across the Sahara which had been put on hold for over 40 years, with the potential opportunity for Europe to diversify its gas sources as the world faces a short fall as a result of the Russian-Ukraine war.

The three countries, represented by their various Petroleum Ministers, met in Abuja, Nigeria’s capital on Wednesday and resolved to set up a task force to revive the project and designated an entity to update the feasibility study.

A statement by Niger’s Oil Ministry after the two-day meeting stated that the Trans-Saharan gas pipeline project estimated at $13 billion, could send up to 30 billion cubic metres a year of supplies to Europe.

The statement added that the energy ministers of the three countries will meet again in Algiers at the end of July to “validate the proposals of the newly installed task force.”

“The pipeline should allow Europe to diversify its sources of natural gas supply but also allow several African states to access this high value energy source,” the statement said.

“With a length of 4,128 kilometres (2,565 miles), the pipeline would start in Warri, Nigeria, and end in Hassi R’Mel, Algeria, where it would connect to existing pipelines that run to Europe,” it said.

The gas pipeline idea was first proposed more than 40 years ago with an agreement signed between the three countries in 2009, but progress stalled stalled following a lack of follow through by the countries.

Earlier this month, Nigeria also took steps to revive another gas pipeline project that would pass through West Africa, Morocco to Europe.

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