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FurtherAfrica is an online platform centralising news and content on the development and growth story of Africa. Content Syndication is done in partnership with The Exchange. The platform focuses on Southern Africa with an interest in economic growth, investment opportunities, financials and everything else in between.
As part of its overall mission, DIGILOGIC aims at developing a trend radar of the latest digital logistics technology trends with a focus on Africa. The trend radar is foreseen to be a dynamic, living tool that captures the development of business and especially technology.
It will be continuously extended and enriched with examples from industry and research, which is why DIGILOGIC interviews experts for their perspectives on the digital logistics sector in Africa.
Fabio Scala is the founder of FurtherAfrica, a business intelligence platform for senior professionals looking for information on finance, development, the economy and investment opportunities in Africa.
As part of the DIGILOGIC project’s High-Level Advisory Board of experts, Fabio helps us with his fellow industry experts supporting the project by assessing our results, raising awareness of the project, and taking part in our activities. It is within his capacity that he joined Toyin Dania for this …
Last March the IMF and Mozambique announced they’ve reached a staff-level agreement on a US $470M facility marking the fund’s much-anticipated return to the country.
At the same time, a set of measures were presented in line with the upcoming new program including the approval of a sovereign wealth fund legislation, fiscal & governance reforms, and the publication of a report on the management of funds the country received from donors as part of its COVID emergency response.
In line with the announcements, the Ministry of Finance has published today (document in Portuguese) a report showing that at the beginning of the pandemic, the country forecasted a total need of US$700M in order to mitigate the effects of the crisis. The document refers to US$386,5M in funds deployed in the 2020 fiscal year received from the IMF, the AfDB, the European Union, the US government, the Islamic Bank, …
Mozambique’s BNI National Development and Investment Bank have been selected as one of the Mozambican banks to participate in a project sponsored by European Union entities aimed at supporting financial institutions in the energy sector, specifically renewable energies.
The project aims to promote local financing of the renewable energy ecosystem and is managed by the GIZ ‘Financial Systems Development’ program on behalf of GET.invest, an initiative supported by the EU, Germany, Sweden, Netherlands, and Austria. The implementation of the project is under Frankfurt base IPC GmbH.
Through technical support, the program aims to promote national private financing for different types of investments in renewable energies, supporting BNI in the development of internal capacities for the structuring of financial products suitable for the sector, transferring practical know-how in the evaluation of applications and in designing appropriate risk mitigation solutions for lending.
Also read: Mozambique: An energy investment hub
Having into consideration the epidemic COVID-19 worldwide situation, the Angolan executive decision to extend the validity period of the documents of foreign citizens who are currently out of Angola.
To this end, documents such as residency authorizations, refugee cards, investor visas, work visas, and temporary permanence visas the validity period of which has terminated as of 28 February 2021 are considered valid until 31 July 2021.
However, in order to benefit from this extension, the individuals which return to Angola must request the renovation or extension of the documents within 5 days after entering Angolan territory.
Article by Marco Correia Gadanha
Marco Correia Gadanha
Marco Correia Gadanha is a partner of the Portuguese law office MC&A. He is specialised in legal advice to international transactions. Marco has extensive experience of legal practice in Portugal and in Portuguese-speaking …
This diploma has the goal of completing the regulatory programme carried out by the Angolan Executive with the purpose of reforming financial regulations.
In fact, this new Law has the purpose of suiting the current challenges within the scope of financial stability, in particular in what concerns the reinforcement of the legal framework of the regulation and supervision of the institutions participating in the Financial Sector.
Thus, this new regime introduces significant changes to the existing legal framework, namely in what concerns its institutional part, as well as supervision, interventive, contraventions, and sanctions measures.
Also read Finance in Common Summit Spring Meeting: Public development banks call for new financing for Africa’s recovery post-Covid-19
Further to the above-mentioned, this new Law establishes:
a) The procedure for incorporation and carrying out of Financial Institutions’ operations;
b) The exercise of the supervisory activity;
c) The procedure for corrective intervention and resolution; and…
The business model for airlines has been fundamentally flawed for decades but the last 20 years or so have been particularly challenging.
Growing competitiveness, a roller coaster of fuel prices, labor unions, and especially the phenomenon of low-cost carriers have made it all the more difficult to reach positive earnings pretty much in every route.
With a number of countries sporting continental distances, Africa has been an exciting promise for air carriers, but not without its challenges. Poor infrastructure and the high cost of maintenance and logistics have plagued the development of an effective air grid in the continent. Nevertheless, a great opportunity remains.
At the beginning of the last decade, South African Airways was a dominant force, carrying some 9 million passengers yearly while Kenya Airways and Ethiopian Airlines combined were just shy of 6 million yearly passengers. However, poor management choices combined with borderline irresponsible behavior from …
Oil and gas projects are very complex due to a variety of challenges that need to be overcome. Risk management and financial burden are some of the hottest issues currently on these projects.
Now imagine you add Covid-19 and insurgent movements near the project area.
“The French oil and gas company Total is considering setting up a logistical base for its Mozambican operations, not only in part of Mozambique, but on the French Indian Ocean possession of Mayotte, according to a report (…)” as per the digital news portal Club of Mozambique.
It shouldn’t come as a surprise at all.
Being part of the French territory, Mayotte offers the best option for Total as a preferential hub for their project in Mozambique. France operates a military base in Mayotte, in the form of a detachment of its Foreign Legion, making the island a super safe place.
Mayotte is very well …
The largest global free trade area by countries is poised to transform Africa’s economic prospects and it could not have come at a more interesting time.
For reasons I won’t get into in this article, the world has witnessed a tremendous rise in populism, protectionism and nationalism. Popular choices in key economies have shifted the status quo bringing into question well-established political and economic powerhouses. With the arrival of the pandemic, trust in governments across the world has diminished and weak leaders in developed economies have found theirselves exposed.
In my view, these elements ironically created a perfect storm for the launch of AfCFTA, the African Continental Free Trade Area. Global trade is going through deep changes either for fears of infection or due to concepts of self economic preservation in smaller developed countries. Border enforcement across the world is shifting on a daily basis and there’s a real …
For the past few years, the thoughts of BREXIT have been a constant part of my thoughts. As we approach the deadline, I have been looking closer into its aftermath and the consequences for Southern Africa.
I’ve acknowledged before and I will mention again the fact that the actions taken by the UK regarding Africa have been truly remarkable. The enormous effort that the government has and still is undertaking, in order to keep the UK a strong and competitive trade player in the continent are nothing short of extraordinary and we are already beginning to see results.
In a much-anticipated virtual visit to Mozambique last week, Her Majesty’s Deputy Trade Commissioner for Africa, Alastair Long held a number of meetings with some of the country’s senior government officials and key players in the private sector.
The meetings included the Ministry of Natural Resources and Energy Permanent Secretary H.E. …
The Dubai Chamber International Office Mozambique, in partnership with Angola-UAE Chamber of Commerce and Industry and AIPEX (Angolan Private Investment and Export Promotion Agency) will host a free webinar on November 26 called “Expand your Business to Angola”.
The event aims to promote a better understanding of the Angolan market and support the expansion of UAE companies internationally by discussing its newest regulations, incentives, perspectives and the business and investment opportunities thatabound in Angola.
The webinar will include welcome remarks, a panel discussion, and an open Q&A session with the audience with a total duration of 1h.30m. The highlight will go to the panel discussion that will include Duarte Marques da Cruz, partner at Portuguese law firm MC&A, Ms. Sandra dos Santos, Administrator for Investment and Fundraising Area at AIPEX and Mr. Omar Khan – Director of International Offices, Dubai Chamber, who will shed a light on market trends, priorities, …