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Senegalese peanut farmers cash in [Business Africa]

Business Africa

Bonds and equity transactions have slowed in Central Africa following the creation of the Central African stock exchange. Reports say currently there’s an overall market capitalization of nearly 420 million dollars within the sub-region.

The decision to centralize operations for a single financial market was mooted by CEMAC heads of state. This came into force in July 2019. In March, stakeholders within the financial markets are expected to take stock of operations thus far. The following report captures challenges bedeviling the industry.

And local peanut-processing companies in Senegal are struggling to obtain the commodity for production. They say they have been forced to lay off staff despite the nation being a major exporter of the commodity in West Africa. The Senegalese government says it has produced some 1.4 million tonnes of peanuts this year. Meanwhile, some local farmers are cashing in due to the large amounts of exports to China.

Today, the farmer of the 70s and 2000s is not like the farmer of 2020.

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