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Africa
- Meg Whitman, US Ambassador to Kenya, highlights key investment opportunities in Kenya, particularly in the creative industry and clean energy.
- She noted that Kenya has the potential to become the Singapore of Africa through vertical business integration, job creation, innovation, and foreign direct investment.
- AmCham Business Summit 2024 seeks to strengthen bilateral trade and investment between the US, Kenya, and East Africa.
The fourth edition of the regional American Chamber of Commerce Kenya (AmCham) Business Summit, has officially kicked off in Nairobi, Kenya, under the theme, ‘Catalyzing The Future of US-East Africa Trade and Investment’.
This year’s forum underscores AmCham Business Summit as the premier platform for strengthening bilateral trade and investment between the United States, Kenya, and East Africa.
Hosted by the American Chamber of Commerce (AmCham), the two-day Summit has brought together delegates from the United States of America, East and Sub-Saharan Africa in efforts to deliberate and …
- UN faults UK-Rwanda asylum treaty citing concerns on potentially harmful impact on global responsibility-sharing, human rights, and refugee protection.
- Spearheaded by Prime Minister Rishi Sunak, the legislation mandates judges to deem Rwanda as a safe third country.
- With deportation flights slated to start in July, the move is sparking weighty debates over the ethical implications of outsourcing asylum responsibilities.
This week’s passage of the “Safety of Rwanda” Bill by the UK Parliament has triggered alarm bells within the United Nations (UN), with two prominent leaders, Filippo Grandi, the UN High Commissioner for Refugees, and Volker Türk, the UN High Commissioner for Human Rights, raising concerns over its potentially harmful impact on global responsibility-sharing, human rights, and refugee protection.
Spearheaded by Prime Minister Rishi Sunak, the legislation mandates judges to deem Rwanda as a safe third country, paving the way for the deportation of thousands of migrants who have sought refuge …
- Namibia’s Mopane field could hold up to 10 billion barrels of oil, Galp announces.
- Tests on Mopane-1X well in January and the Mopane-2X well in March gave highly promising findings.
- Exploration success in Namibia could pave the way for a new revenue stream for Galp.
Portuguese oil company Galp Energia has set the stage for a potential game-changer in the global energy industry with its announcement at the weekend regarding the Mopane field off the coast of Namibia.
Following the conclusion of the first phase of exploration, Galp projects that the Mopane field could hold up to 10 billion barrels of oil, marking a huge step in the evolving oil and gas industry in Namibia.
Gap noted that testing operations were undertaken at the Mopane-1X well in January and the Mopane-2X well in March gave highly promising findings. The company noted the discovery of significant light oil columns in …
The private sector in the African continent is set to receive US480 billion in investments over the next five years.
The investments will be made by a consortium of organizations under the G7 Development Finance Institutions (G7 DFI) which includes the European Investment Bank and the private sector arm of the African Development to support sustainable economic recovery and growth in Africa.
The proposed investments come at a time when the Covid-19 pandemic has caused a severe global economic and health crisis, including in the African continent.
The IMF estimates that sub-Saharan Africa needs additional financing of around $425 billion between now and 2025 to help strengthen the pandemic response spending and reduce poverty in the region.
This marks the first time the G7 DFIs have come together to make a collective partnership commitment to the African continent.
The G7 DFI group consists of CDC, Proparco (France), JICA and JBIC …
Farmers across the continent are expected to meet virtually later this month at a time when they have reported massive losses due to the COVID-19 pandemic.
According to Fairtrade Africa Programmes Director Chris Oluoch, farmers in Africa lost an estimated 80 percent of their revenue in 2020 due to the COVID-19 pandemic.
Oluoch says the pandemic has also seen many workers lose their jobs, as companies closed shop due to lack of access to markets as most countries closed their borders.
Most affected was the flower sector where a number of flower farms shut down their businesses.
“In Kenya, about three flower farms completely shut down their business, while in Tanzania, two farms closed shop. The effects of the pandemic continue to cause havoc on the agriculture sector in the region that is already suffering from post-harvest losses,” said Oluoch.
Oluoch was speaking on Tuesday, 15th June 2021 during …
NAIROBI, Kenya, Jun 13 – East Africa Community (EAC) partner states need to exploit the potential of exporting raw cotton to international markets.
This is according to Kenya’s Principal Secretary for EAC Dr. Kevit Desai who says the region already produced 100,000 metric tonnes of cotton.
This is lower than its existing potential, which is about 400,000 tonnes.
The Principal Secretary said that EAC exports to the world market currently stand at 8 percent, adding that to increase the volume of exports, value chains such as textiles need to be promoted to boost exports.
“We need to harness science, technology, and innovation to boost exports by investing in greater capacity to produce leather and textiles, and turn a crop like pyrethrum into aerosols,” said the PS.
He added that increased investment in the leather and textile sectors would cater to the growing demand in the region for locally manufactured high-quality …
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.
Also read: How Foreign Countries Can Trade And Invest In Africa
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 …
Covid-19 is pushing SubSaharan Africa’s leading economies back into poverty, according to the results of GeoPoll’s six-nation survey on the financial and social impact of the pandemic across the continent.
The poll of 2,400 respondents in South Africa, Nigeria, Ivory Coast, Democratic Republic of Congo, Mozambique and Kenya found rising unemployment, further falls in incomes, drastic cuts in spending on essential and non-essential items, and mounting concern over meeting bills in the three months ahead.
“The picture that emerges is of a further sharp deterioration in the financial position of many individual Africans in the first quarter of 2021,” said Scott Lansell, GeoPoll’s VP – International Development.
The poll, which was conducted from March 24th to April 12th, found two-thirds of respondents, at 66 per cent, reporting that their income had fallen since January 2021, with 42 per cent saying it had fallen by a lot. This …
On the eve of World Environment Day, the topic of climate change has become a major subject matter for the developed world and the developing world. Africa is by far one of the lushest continents being ripe for vegetation and the key enabler to save the planet. The UN Sustainable Development Goals seeks to promote sustainability via a global collective. In light of that, the Billion Tree Initiative is a new commitment by Synergetic Trees and one that is headed by its founder Dr. Bahadur Bahadur to drive global sustainability.
“Twenty-five years ago, people could be excused for not knowing much, or doing much, about climate change. Today we have no excuse.” – Desmond Tutu
Accordingly to Dr. Bahadur, CEO of Synergetic Trees (ST) is a global network of teams focused on carbon sequestration by planting and caring for trees in the long term. Carbon sequestration is any process …
