AXM.V - Axmin Inc. (Gold)

Central African Republic formally joins Afreximbank

https://sunnewsonline.com/central-african-republic-formally-joins-afreximbank/

5th December 2018

in Business, World News



Uche Usim, Abuja

The number of African Export-Import Bank (Afreximbank) member countries swelled to 50 on Wednesday, with the Central African Republic (CAR) formalising her membership by depositing the instrument of the country’s ratification of the Bank Establishment Agreement in Cairo, Egypt.


Speaking during a ceremony at the bank’s headquarters, Claude Rameaux Bireau, Minister of State and Economic Adviser to the president, who led a five-member delegation, said that the Central African Republic had very high expectations from Afreximbank and looked forward to strengthened cooperation with the institution.


Bireau said that CAR would move quickly to take up shareholding in the bank and announced that the government was already working with the African Development Bank to support in that regard.



He added that the country would participate in the Intra-African Trade Fair, which was being organised by Afreximbank in collaboration with the African Union. The trade fair will take place in Cairo from December 11- 17.


Earlier, Prof. Benedict Oramah, President of Afreximbank stated, disclosed that the bank was created to support African countries in both good times and bad times and that the ratification of the Agreement by the Central African Republic would make it possible for it to effectively do business in the country.


“The ratification grants us the special privileges and immunities that make it possible for us to take the risks that other commercial banks cannot,” Prof. Oramah explained.


He announced that the Afreximbank had been reviewing six projects, which the country had identified as priorities in order to see how to support them, saying that CAR, with her rich resources, could be an investors’ paradise if well marketed.


CAR had initiated the process of joining the bank on 28 November 2017, when it presented an instrument of accession to the Bank Agreement to Prof. Oramah when he met with President Faustin-Archange Touadéra in Bangui.


Under the terms of the Agreement for the Establishment of the Bank, which was signed by the participating states in Abidjan on May 8, 1993, countries that did not sign on before it entered into force are required to first issue an instrument of acceptance and accession and then proceed to formally ratify the agreement in order to fully activate their membership of the bank.


Membership of the bank gives the CAR automatic access to the full range of products and facilities offered by Afreximbank, including trade finance facilities, project finance services, trade information and advisory services, support in the development of a local content policy and assistance in developing and implementing industrial parks and special economic zones.



There are 50 countries currently on the list of Afreximbank participating and shareholding states, including Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde and Chad. Others are CAR, Comoros, Côte d’Ivoire, Democratic Republic of Congo, Djibouti, Egypt, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, and Lesotho.


Countries like Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Republic of Congo, Rwanda, Senegal, Seychelles, Sierra Leone, Sao Tome and Principe, South Africa, South Sudan, Sudan, Tanzania, Togo, Tunisia, Uganda, Zambia and Zimbabwe are part of the bank.


Afreximbank shareholders are a mix of public and private entities divided into four classes and consist of African governments, central banks, regional and sub-regional institutions, private investors and financial institutions, as well as non-African financial institutions, export credit agencies and private investors.


Also on the delegation were Clement Bilege, Ambassador of Central African Republic to Egypt; Jean Jules Jos, Former Minister of State in charge of Programmes at the Presidency and Batolo Mathiu and Amadou Issa of the Embassy of Central African Republic in Cairo.


Participating in the ceremony from Afreximbank were Dr. George Elombi, Executive Vice President, Governance Legal and Corporate Services; Amr Kamel, Executive Vice President, Business Development and Corporate Banking; Rene Awambeng, Global Head, Client Relations; Obi Emekekwue, Global Head, Communications and Events Management; Gerald Chihota, Head of Board Secretariat and Jacqueline Clarisse Motsebo of the Board Secretariat.

 

African Union Says Ready To Organize CAR Peace Talks, Host City To Be Chosen- Commissioner

https://www.urdupoint.com/en/world/african-union-says-ready-to-organize-car-peac-499883.html

African Union Says Ready To Organize CAR Peace Talks, Host City To Be Chosen- Commissioner

Fakhir Rizvi 3 hours ago Fri 07th December 2018 | 05:29 PM



The African Union is prepared to organize formal peace negotiations between the government of the Central African Republic (CAR) and the militia groups as soon as it decides on the conference venue, the Union's Commissioner for Peace and Security, Ambassador Smail Chergui, told Sputnik.



MOSCOW (UrduPoint News / Sputnik - 07th December, 2018) The African Union is prepared to organize formal peace negotiations between the government of the Central African Republic (CAR) and the militia groups as soon as it decides on the conference venue, the Union's Commissioner for Peace and Security, Ambassador Smail Chergui, told Sputnik.

The African Union has been leading mediation efforts in the conflict between the government in Bangui and various rebel groups operating in the CAR. In August, rebel groups presented a list of nearly 100 demands that need to be satisfied before a peace agreement can be signed.

"I think more or less we are almost ready, I think it is now to see where we are going to convene the dialogue. Is it in Bangui, in Addis Ababa or elsewhere? I think that's where we are.

We want to make sure that we speak the same language with everybody," Chergui said, expressing hope that the conference will be convened "as soon as possible."

The conference will provide the sides with an opportunity to fine-tune their positions, conclude discussions and then "hopefully sign the [peace] agreement."

The CAR has been struggling to overcome internal conflicts for years now, with around 615,000 people displaced in the country due to the crisis, according to the United Nations.

On August 27-28, the major warring parties participated in Russia-brokered peace talks in the Sudanese capital. The meeting resulted in the signing of the Khartoum Declaration, which provided for the creation of an opposition union, which could pave the way for a long-lasting peace in the country.

 

New India/CAR Drilling Company In The Central African Republic

http://www.lanouvellecentrafrique.i...nt-des-operations-de-inde-afrique-investment/

The SARL "India Africa Investment" started yesterday its activities in the country.

This drilling specialist company plans to drill 10 boreholes a day in the 16 prefectures of Central Africa.

SC - BANGUI - LNC

https://twitter.com/nouveaucentraf?lang=en&lang=en

Nouveau Centrafrique @NouveauCentraf
Dec 6
DÉPÊCHE/Bangui : Lancement des opérations de "Inde Afrique Investment" #Centrafrique #CARcrisis http://wp.me/p39iaI-3FY

 

Awesome! thank you for verifying that. It's exciting to see that life is coming back to CAR and in many areas. But what counts for Axmin is the drilling. Not sure where the drilling is happening, but sounds like a vast area and lots of coring.

Welcome aboard! glad you got some cheaper stock, but tax loss season is good for that. It's crazy to think we are still trading this low given the odds that a $30 million market cap company could be getting it's $500 million dollar asset back soon, plus that Senegal royalty is nice and Teranga still owes us at least $1 million.

 

CAR Articles & New Job Offerings In CAR

African Union Commissioner Praises Russia's Defense Aid To CAR For Promoting Stability - https://www.urdupoint.com/en/world/african-union-commissioner-praises-russias-d-499889.html

The Central African Republic will be a shareholder of Afreximbank - https://africandailyvoice.com/en/20...epublic-will-be-a-shareholder-of-afreximbank/

The next set of links have just shown up over the last few days. These are actual job postings and companies offering to do business in the Central African Republic. It shows that things are progressing if international companies are hiring and offering services in this part of the world:

A1 Auto Transport - US fright company offering services to CAR - https://www.a1autotransport.com/moving-to-central-african-republic/

nac Sales Representatives for Central African Republic - https://www.nacinc.com/contact/sales-representatives/regional-reps.php?region=CF

Clinical Operations Lead SSA - https://www.roche.com/careers/jobs/...&locale=en&title=Clinical+Operations+Lead+SSA

DHL · Logistics and distribution CENTRAL AFRICAN REPUBLIC - https://www.bebee.com/job/compliance-manager-africa-middle-east-24831971

 

Looks like China is working with Russia to secure the Central African Republic:

Central African Republic: 20 elements of the Republican Protection Special Guard trained by Chinese instructors

http://news.abangui.com/h/66290.htm...-bGT-Bi3JvRwH4vaPUL-1J_SZne8kebrXDsQgSOjvE2Hs

Posted on Saturday, December 8, 2018 | ADV
Bangui - Chinese instructors are following the footsteps of EUTM-RCA forces and Russian instructors for the restructuring of the defense and security forces. The 20 elements of the presidential guard have completed their training on December 3, 2018.

While Russia deals with the Central African Armed Forces, China is focusing on the upgrading of the internal security forces, including the police, gendarmerie through the presidential guard.

The head of the team of Chinese instructors, Mr. ZHANG recalled that their visit to Central African soil follows President TOUADERA's request to his Chinese counterpart Xi Jin Ping during the Sino-Africa forum. "The formation of these 20 elements marks the beginning of a good cooperation for the future," he says.

"This work gave a vision and a format to these trainees. This training is just the beginning of the many actions that have been discussed and that must be carried out in the days to come, "said Central African President Faustin Archange Touadera.

The actions that will be carried out in favor of the restructuring of the Defense and Security Forces will be implemented by 2019. As the government launches the restructuring of the FACA, the police and the gendarmerie will also be in line of this reform after several decades of dysfunction and crisis in the country.

 

Press Release: Central African Republic: The FPRC(Main Rebel Group) congratulates President Faustin Archange Touadera

https://corbeaunews-centrafrique.co...icite-le-president-faustin-archange-touadera/

Central African Republic: The FPRC congratulates President Faustin Archange Touadera.

PRESS RELEASE


The General Coordination of the FPRC congratulates the President of the Central African Republic His Excellency Faustin Archange TOUADERA who in his statement on the eve of the commemoration of the 60th anniversary of the independence of the Central African Republic which tends to be reborn gradually that he qualifies as very constructive and conciliatory.

The FPRC is very optimistic about the beginning of the culture of peace engendered by the declarations but is waiting to welcome the imminent practice of this peace.

The FPRC reminds everyone to calculate the value of the actions to be taken in relation to the homeland, which needs the contribution of all Central Africans to save it.

The FPRC reiterates its call for national awareness and unity for an imminent dialogue that will be the final exit from the great crisis.

The FPRC calls on the President of the Central African Republic, guarantor of national unity and integrity, to save the Republic and bring it out of the abyss and cure the broken arms recognized by the Prime Minister while he is supposed to get this country out of this abyss and arrange the broken arms of Central Africans.

The FPRC asks the elected representatives of the people not to be limited only to the dismissal of their President for financial reasons, but encourages them to commit themselves to the national reality recognized by the one who is responsible for us of the abyss and to repair us broken arms that for almost two and a half years can not do anything. When will the control of government actions and a vote of law in this sense? A good democracy contributes to and maintains peace.

The FPRC wishes to see a multi-ethnic and dignified republican army with elements recruited by vocation and not out of necessity to avoid repetitive mistakes like the recent national disappointment of Bocaranga.

The FPRC calls on the UN and more particularly on the Security Council to vote for a resolution to end the crisis that will be imposed on all parties in CAR for a way out of the crisis because all the previous resolutions were partial and favored the return of violence. They made everyone complicit and victimized.

For the FPRC, the choice of mediator should be imposed on all parties in conflict to avoid the stagnation of the peace process initiated by the African Union. Otherwise, each party can refute and delay the progress of the dialogue process. As we fight for the revival of Central Africa.

Done at Ndele on December 09, 2018

 

French Minister of Armies in the Central African Republic for two days

https://www.lemonde.fr/afrique/arti...entrafrique-pour-deux-jours_5395144_3212.html

Florence Parly will reaffirm the support of France in Bangui, including delivering military equipment.

Le Monde with AFP Posted today at 10h13

The French Minister of Armies Florence Parly will reaffirm Monday, December 10 and Tuesday, December 11 in Bangui the support of France to the Central African Republic , where Russia is increasingly present, and deliver military equipment. "The purpose of the visit is to reaffirm the support of France to this country, which is a long-time partner , " says one in the cabinet of the minister. Florence Parly will meet President Faustin-Archange Touadéra, his counterpart Marie-Noëlle Koyara and the UN envoy for the Central African Republic (CAR), Parfait Onanga-Anyanga. It will give on this occasion 1,400 assault rifles promised by France as well as amphibious equipment to the Central African Armed Forces (FACA).

France obtained for this a exemption from the UN to the embargo on arms deliveries to the Central African Republic, just like the Russians a few months earlier. The minister will also reaffirm France's commitment to the African Union's peace initiative in that country, while Russia has tried to launch a parallel process. "All the other initiatives that are opportunistic and often interested initiatives do not seem to me to contribute to a positive resolution of the security situation in this country," she said in November at the Dakar Forum on Peace and Security in Africa.

Russia has invested all over the place in this former French colony, particularly in the formation of the army and diplomacy with armed groups. Companies run by Russians are also interested in its mineral wealth. France intervened militarily in the CAR between 2013 and 2016 to stop the violence of the rebel coalition Séléka (predominantly Muslim) and retaliation of anti-balaka militias claiming to defend Christians.

Two years later, almost all of the world's 4.5 million poorest people remain under the control of armed groups fighting to capture mineral resources such as gold and diamonds. strengthen their local influence. "The end of Operation Sangaris did not mark the end of our support at all. It has taken another form, " says Ms. Parly's office, pointing to FACA training and military support for the UN force there (Minusca) if needed.

In May, French fighters overflew Kaga Bandoro, 300 km north of Bangui, in support of the UN mission in Minusca after renewed intercommunal violence. "We are ready to help in an emergency as this episode has shown," said one in the entourage of the minister.

On 3 November, French Foreign Minister Jean-Yves Le Drian also signed aid agreements worth € 24 million in Bangui to help pay back wages and pensions, develop nearby territories of Cameroon affected by large population displacements and to install bridges to open up several regions.

 

France Ships 1400 rifles to CAR, Mentions no obstacle on Embargo removal

https://www.news24.com/Africa/News/france-ships-1-400-assault-rifles-to-car-army-20181211

France ships 1 400 assault rifles to CAR army

2018-12-11 16:59

France on Tuesday handed over 1 400 AK-47 assault rifles and three amphibious vehicles to the Central African Republic to shore up its beleaguered armed forces.

French Defence Minister Florence Parly oversaw the handover at a ceremony at M'Polo military base in the capital Bangui.

The military aid was announced in Paris in November, along with $27.4 million in civilian assistance.

One of the world's poorest nations, the CAR has struggled to recover from a 2013 civil war that erupted when President Francois Bozize, a Christian, was overthrown by mainly Muslim Seleka rebels.

In response, Christians, who account for about 80% of the population, organised vigilante units dubbed "anti-Balaka" in reference to the balaka machetes used by Seleka rebels.

Thousands of people have died in the violence, 700 000 have been internally displaced and another 570 000 have fled abroad.

With the armed forces hampered by poor training and lack of equipment, the UN-backed central government controls only a fraction of the country's territory.

In 2013, the UN Security Council imposed an arms embargo and it remains in place today.

Exemptions are made for weapons shipments for the security forces that gain pre-approval from a UN sanctions committee.

The panel is tasked with ensuring that imported weapons do not end up in the hands of the militias in the corruption-prone country.

The panel gave the green light last year for Russia to supply 1 700 AK-47s to the national forces in January, and gave its approval again to the French shipments.

But in June, France, Britain, and the United States blocked a request from the CAR for approval of Chinese weapons deliveries.

"From France's point of view, there is in principle no obstacle to ending the embargo" permanently, Parly said on Tuesday.

She stressed: "What is important is that these weapons, after they are delivered to the Central African armed forces, can be identified, stored and traced."

The CAR has an army of just 7 000 men in a population of 4.5 million. They are facing militia groups estimated to be at least similar in numbers.

Russia has sent 170 military instructors - suspected by western sources to be mercenaries linked to Russian mining companies in the mineral-rich CAR.

France, the former colonial power, sent 2 000 troops to quell the Seleka rebels, winding down the operation in 2016 after President Faustin-Archange Touadera was elected.

It has around 200 troops in the CAR today, working in support of the armed forces and the UN peacekeeping mission here.

Parly said that France was the CAR's "major partner for development aid", providing $147 million annually.

The 1 400 guns handed over by France are a gift, French officials said.

They were seized aboard a dhow off Somalia in 2016 that was intercepted for breaching an arms embargo with Yemen, they said.

The European Union has a military training mission in the CAR that involves 170 people. In July, it pledged $28 million to extend the mission until September 2020.

 

December 12th 2018: SUPPORT REAFFIRMED TO THE AFRICAN INITIATIVE FOR PEACE AND RECONCILIATION IN CAR

HTTPS://MINUSCA.UNMISSIONS.ORG/SOUTIEN-R%C3%A9AFFIRM%C3%A9-%C3%A0-L%E2%80%99INITIATIVE-AFRICAINE-POUR-LA-PAIX-ET-LA-R%C3%A9CONCILIATION-EN-RCA

Dec 12,2018
SUPPORT REAFFIRMED TO THE AFRICAN INITIATIVE FOR PEACE AND RECONCILIATION IN CAR

The Central African Government and MINUSCA reiterated on Wednesday their support for the dialogue process under the African Union Initiative for Peace and Reconciliation in the Central African Republic. The spokespersons of the Executive, the Minister of Communication and Media Angel Maxime Kazagui, and MINUSCA, Vladimir Monteiro, were speaking in Bangui, during the two-monthly joint press conference of the two institutions.

"The Government is engaged in this process of dialogue. This is a process put in place at the request of the President of the Republic, "said the minister and spokesman, adding that the Government was going this Wednesday to the National Assembly for a session on the African Initiative. For his part, the MINUSCA spokesperson reiterated the importance of the dialogue process, under this initiative, to "support the authorities to reduce the presence and threat of armed groups".

During the joint press conference, the minister and spokesman announced the launch of the large DDRR (Disarmament, Demobilization, Reintegration, Repatriation) by President Faustin Touadéra, on December 17, in Paoua with the armed groups of the West of the country. For MINUSCA, this is a great moment that "will have to reach other regions" in accordance with the commitments made by all the armed groups in 2015 in Bangui.

The Government spokesman also spoke about the deployment of the Central African Armed Forces (FACA), including Bocaranga, highlighting their "contribution to security where they are deployed, alongside peacekeepers." "In 2018, we witnessed the strengthening of the partnership, in the field, between MINUSCA and the FACA, following their deployment in Paoua, Bangassou, Sibut, Bambari and Bouar", for its part, said the spokesperson of MINUSCA. "The international community as a whole supports the FACA, including training by the European Union, the granting of weapons by Russia, vehicles by the United States of America, support equipment by the United States of America. France and non-lethal weapons by China. With regard to MINUSCA, this support will continue in particular in the context of the recruitment process of the 1.

The MINUSCA spokesperson also announced the UN Security Council's upcoming renewal of the Mission's mandate, noting that the new mandate will be aimed at strengthening the gains, especially in the area of the restoration of authority. of the State throughout the territory. "The Mission will continue its close collaboration with the Central African authorities and other Central African actors, but also with the population, in Bangui as well as in the prefectures, to explain this new mandate and to implement it," he concluded.

 

Vladimir Putin To Visit The Central African Republic

http://news.abangui.com/h/66337.html

Central African Republic: Russian President Vladimir Putin is planning an official visit to Bangui in very soon!
Posted on Thursday December 13th 2018 | The Central African Potential
Russian President Vladimir Putin will visit the capital of CAR, Bangui, with an official visit to strengthen relations between the two countries. As Kremlin sources have shared, the Russian leader plans to discuss during his visit the security problems of the CAR and the development issues of the country.

It is nice that our Russian partners are seeing the progress of mutually beneficial relations between CAR and Russia. Moscow understands that the dialogue with our country should not be based on the position of force, they do not try to impose their point of view, they know that African problems require an African solution. Russia is close to us in spirit. Russia has never subjugated anyone, for centuries it has defended its territories from foreign incursions. Our Russian friends know that it is the struggle for independence. Even today, when many defense documents are in force, Russia is oppressed by economic sanctions.

The visit of Russian President Vladimir Putin means that Russia is ready for dialogue at the highest level. The talks of the Russian leader with Faustin-Archange Touadéra will be a mark in the modern history of our country. It is not excluded that the Presidents will enter into mutual agreements with each other.

We would like to remind you that Russian Minister of Foreign Affairs Sergei Lavrov held talks with RCA President Faustin-Archange Touadera earlier. The Russian Minister and the CAR leader had an "on the spot" meeting of the 73rd session of the UN General Assembly New York. The parties discussed issues of humanitarian partnership, trade and economic interaction, and up-to-date political relations issues.

Sergei Lavrov and Faustin-Archange Touadéra discussed the prospects for the national regulation process in CAR. During the meeting, it was agreed that it is very important to harmonize the international efforts aimed at stabilizing the situation in the Central African Republic within the framework of the African Union Peace Initiative.

It is important to note that the friendly country, Russia, has already made a great contribution to the process of peaceful settlement in CAR. With the help of Russian diplomats members of the "Antibalaka" and Ex-Seleka groups sat down at the negotiating table with representatives of the Central African Republic authorities and signed the Khartoum Declaration. It is noted in the document that all parties to the dialogue are interested in establishing peace and stabilizing the situation in CAR throughout the country.

 

UN extends Central African Republic peacekeeping mission

https://www.washingtonpost.com/worl...ory.html?noredirect=on&utm_term=.0a588c2333ce


UN extends Central African Republic peacekeeping mission


By Associated Press
December 13 at 5:01 PM
UNITED NATIONS — The U.N. Security Council has approved a resolution extending the mandate of the 14,600-strong U.N. peacekeeping mission in conflict-wracked Central African Republic.

The French-drafted resolution adopted Thursday urges all militias and armed groups in the country “to lay down their arms, cease all forms of violence and destabilizing activities.”

It calls on President Faustin-Archange Touadera to advance talks with armed groups and national reconciliation “without delay.”

Russia and China abstained from voting.

Russian Ambassador Vassily Nebenzia said Moscow supports the peacekeeping force but he sharply criticized France for not including Russian concerns in the resolution. Russia wanted the U.N. force to support its training of Central African Republic troops.

The country has faced interreligious and intercommunal fighting since 2013, and violence has intensified and spread in the past year.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

MEPs approve ratification of military cooperation agreement between Central African Republic and Russia

https://africandailyvoice.com/2018/...peration-militaire-entre-centrafrique-russie/

MEPs approve ratification of military cooperation agreement between Central African Republic and Russia

2018-12-14 Central African Republic , POLITICS

Bangui, Central African Republic (ADV) - The elected officials of the nation voted yesterday by acclamation the bill to ratify the defense agreement between the Central African Republic and Russia, a new partner in the security environment in the Central African Republic.

"The Russian military is currently with our military in some provincial towns. And this Defense Agreement will further strengthen our military cooperation, "said Marie Noëlle Koyara, Central African Minister of Defense.

This vote of the people's elected representatives comes in a context where the Russian presence in the Central African Republic was not at all appreciated by some Western powers who consider the Russian instructors here as mercenaries. The vote of the deputies of the national assembly formalizes this military cooperation.

This military cooperation agreement with Russia completes the list of other agreements with countries and partners such as France, China, the European Union and the United States in several areas of common interest.

"We are delighted to see the members of this House vote in favor of this Defense Agreement that will allow our military and our homeland security forces to protect us and to have a different dimension and to respond to the challenges that lie ahead. impose on us, "said the Minister Delegate of Foreign Affairs, Chancel Sékodé Ndeugbayi.

According to ADV information, this agreement will also allow Russia to support the Central African armed forces in the field of intelligence and provides for the training of Central African military in Russian military academies and military assistance between the two countries in case of foreign aggression . Russia could increase the number of its troops in the country as well as its material and military equipment.

This parliamentary exercise comes after the signing of a memorandum of understanding on August 21, 2018, between the Central African Republic and Russia, on the sidelines of the Armaments Forum in Russia.

© Bur-csa - From our regional correspondent Fridolin Ngoulou - African Daily Voice (ADV) - Find us on Twitter: @ADVinfo_en

 

I do agree with the Russians in that the French are jealous and also embarrassed about Russia doing more good in one year than France has done in it's entire time in CAR.

 

Russian Efforts Toward CAR Crisis Settlement In Line With African Union Policy - Moscow

https://www.urdupoint.com/en/world/russian-efforts-toward-car-crisis-settlement-509368.html

Fakhir Rizvi 4 hours ago Tue 18th December 2018 | 04:52 PM

MOSCOW (UrduPoint News / Sputnik - 18th December, 2018) Russian efforts toward resolving the crisis in the Central African Republic (CAR) are in line with the African Union's policies, and the West's attempts to prove otherwise are groundless, Andrei Kemarsky, the director of the RussianForeign Ministry's Department of Africa, told Sputnik.

"I'd like to emphasize that Russian and Sudanese efforts that contributed to the signing of the Khartoum Declaration do not in any way contravene the African Union's steps. Moreover, the declaration stresses that the measures that it envisages are directly linked to the African peace initiative. Our Western partners' attempts to contrast Russian efforts with the African Union policy are absolutely groundless," Kemarsky said.

The senior diplomat specified that Russia considered the African Initiative for Peace and Reconciliation in CAR, which the African Union approved in January 2017, as the basis of the peace process.

He added that it was within this initiative that Russia-brokered peace talks between the major warring parties were held in the Sudanese capital of Khartoum, which resulted in the signing of the Khartoum Declaration. Kemarsky also called on the country's authorities to launch a national reconciliation process that is mediated by Russia, the European Union, and regional and international organizations.

On August 28, the same day when the two-day talks finished, a meeting within the African Initiative for Peace and Reconciliation in CAR started, during which representatives of 14 armed groups made an effort toward creating a common platform for talks with the government.

Kemarsky voiced his belief that western states, including France, were jealous of Russia's increasing role in the CAR settlement process.

"Although terror acts continue, as well as confrontations between armed groups and governmentforces, the process is generally becoming more and more positive. Russia's contribution is quite substantial, while western states' involvement has clearly become less efficient," the diplomat said, specifying that France failed to achieve positive changes in spite of being historically present in CARdue to its colonial past.

He said that Russia's engagement in the settlement process had yielded progress, and that the country's role was becoming more dominant even though it had been present in CAR for only just a year.

"This causes concern and jealousy of the countries that were traditionally influential in CAR and regarded the state as their patrimony," Kemarsky specified.

The diplomat added that since the West was concerned over Russia's strengthening position, they were spreading misinformation, pursuing slanderous campaigns, introducing sanctions and also trying to hamper Russian business.

CAR has been struggling to stop the conflict between the mainly Muslim armed group Seleka, Christian Anti-balaka militia and government forces since 2012.

 

What does AXMIN Inc.’s (CVE:AXM) Balance Sheet Tell Us About Its Future?

https://simplywall.st/stocks/ca/mat...veaxm-balance-sheet-tell-us-about-its-future/

Note: Keep in mind that this article does not include the shares and cash deal announced October 10th 2018 where all liabilities were removed.

• TSXV:AXM

What does AXMIN Inc.’s (CVE:AXM) Balance Sheet Tell Us About Its Future?
Cole Patterson December 20, 2018
Zero-debt allows substantial financial flexibility, especially for small-cap companies like AXMIN Inc. (CVE:AXM), as the company does not have to adhere to strict debt covenants. However, it also faces higher cost of capital given interest cost is generally lower than equity. Zero-debt can alleviate some risk associated with the company meeting debt obligations, but this doesn’t automatically mean AXM has outstanding financial strength. I will go over a basic overview of the stock’s financial health, which I believe provides a ballpark estimate of their financial health status.

Check out our latest analysis for AXMIN

Is AXM growing fast enough to value financial flexibility over lower cost of capital?
Debt funding can be cheaper than issuing new equity due to lower interest cost on debt. However, the trade-off is debtholders’ higher claim on company assets in the event of liquidation and stringent obligations around capital management. The lack of debt on AXM’s balance sheet may be because it does not have access to cheap capital, or it may believe this trade-off is not worth it. Choosing financial flexibility over capital returns make sense if AXM is a high-growth company. AXM’s revenue growth over the past year is an impressively high double-digit 67%. Therefore, the company’s decision to choose financial flexibility is justified as it may need headroom to borrow in the future to sustain high growth.


TSXV:AXM Historical Debt December 19th 18
Does AXM’s liquid assets cover its short-term commitments?
Since AXMIN doesn’t have any debt on its balance sheet, it doesn’t have any solvency issues, which is a term used to describe the company’s ability to meet its long-term obligations. But another important aspect of financial health is liquidity: the company’s ability to meet short-term obligations, including payments to suppliers and employees. Looking at AXM’s US$1.6m in current liabilities, the company has been able to meet these obligations given the level of current assets of US$2.4m, with a current ratio of 1.48x. Generally, for Metals and Mining companies, this is a reasonable ratio since there’s a sufficient cash cushion without leaving too much capital idle or in low-earning investments.

Next Steps:
As a high-growth company, it may be beneficial for AXM to have some financial flexibility, hence zero-debt. This may mean this is an optimal capital structure for the business, given that it is also meeting its short-term commitment. Moving forward, AXM’s financial situation may change. I admit this is a fairly basic analysis for AXM’s financial health. Other important fundamentals need to be considered alongside. I recommend you continue to research AXMIN to get a more holistic view of the stock by looking at: