Browsing: EU

The European Union (EU) and Nigeria have enjoyed robust trade and bilateral relations since the formulation of this lucrative partnership, and remains its most important trading partner for oil and non-oil exports. In cognizance of Nigeria’s strategic importance as Africa’s most populous nation, and one of the largest economies; the EU’s cooperation with the country aims to enhance growth and stability to achieve social equity, hence their partnership has been rooted in shared values and interests since inception. In addition, Nigeria is also a key beneficiary of the EU’s Foreign Direct Investment (FDI).

To boot, the EU has recently renewed its commitment, pledging to continue to pursue with increased vigour, its bilateral engagement and friendship with Nigeria I n order to deliver better and to make the partnership more fruitful. This comes after the trade volume between the European Union and Nigeria, increased by 25.8 per cent to peak at …

Over the past years, Ethiopia has become one of the primary beneficiaries of the EU Trust Fund for Africa.

According to information from European Commission, in total, the value of EU development assistance to Ethiopia has averaged an estimated 214 Euro ($225 million) per year. 

However, when Ethiopia was dragged down through the most gruesome internal political turmoil – the Tigray War – relations between the Horn of Africa and the EU was at an all-time low.  

The EU followed close on the heels of Ethiopia’s close development partner, the United States, and threatened sanctions on the Ethiopian government in a deliberate attempt to quench the conflict.  …

At the dawn of his administration, President Mnangagwa promised to address the country’s record on human rights, targeting those that oppress political activists and opposition, political party supporters, during elections. He also said his government would introduce economic policies favouring foreign investment. His mantra was ‘Zimbabwe is Open for Business. In its quest to kick-start itself to its former glory, the Zimbabwean government came up with economic policies such as the Look East Policy, and Indigenization, but they failed to yield results.

Mnangagwa’s administration has been rallying anti-sanctions sentiments, embarking on a re-engagement policy and the ‘Zimbabwe is Open for Business mantra. But, the sanctions have remained in place.

According to Afrobarometer, Mnangagwa has managed to mobilize support against the sanctions. In October 2019, leaders of the Southern African Development Community (SADC) agreed to campaign for the removal of the sanctions, arguing that they destabilize Zimbabwe’s economy and adversely affect …

The company was struggling following a significant decline in the late 90s. In a related article published by ZBC News at its utmost, the giant used to employ over 4,500 people thereby making it one of the country’s biggest employers.

Further, in addition to beef production, the company also produced a large variety of by-products such as hides, neat’s foot oil, ox gall, edible offal’s, tallow and dripping, canned meats, ham, blood meal, meat and bone meal and pork sausages among others. The institution is the lifeblood of livestock farmers and the leather value chain.

The government is targeting the revitalization of the institution under the National Development Strategy One (NDS1). The government in May 2019, signed a US$400 million joint venture farming Concession Agreement with Boustead Beef Zimbabwe, a United Kingdom-based investor. The venture was reportedly based on a Concession Agreement under Rehabilitation, Operate and Transfer (ROT) Terms.

The …

The Africa-Europe D4D Hub Multi-Stakeholder Forum on Digital Transformation for Sustainable Development in Africa was held one month after the 6th European Union–African Union Summit, where leaders from both continents announced a EUR 150 billion Africa-Europe Investment Package, which amongst other priorities aims to accelerate Africa’s sustainable digital transformation.

“This ambition aligns with the EU Global Gateway, a strategy set out to boost smart, clean, and secure investments in connectivity, and the AU Digital Transformation Strategy for Africa 2020 – 2030, which aims to transform Africa’s economies and societies by harnessing digital technologies, the potential of data and innovation for the benefit of people. It also supports the outcomes of the 35th AU Summit, held from 5 to 6 February 2022, which called for the acceleration of Africa’s quality infrastructure development.” read a news release issued by EU-Africa Digital Hub today.

It is reported that only 33 per cent of …

Zimbabwe chastised the West for averting Harare’s breakdown by denying “access to markets for Zimbabwe’s diamonds sector” and causing “disinvestment, corporate closures, and a currency collapse” in a document titled “Economic Impact of Sanctions on Zimbabwe.”
Zimbabwe, which is thought to hold 25% of the world’s diamond reserves, has sunk deeper into international turmoil following revelations that over USUS$14 billion had been taken by oligarchs in the Marange highlands, where the US has expressed concerns about forced labour and human rights abuses.
Security forces mercilessly attacked illegal miners around the end of 2008 to gain sole ownership of the mines for the state, prompting the West to label Harare’s jewels “blood diamonds.”…

While Nigeria is the largest exporter for Sesame seeds, there’s still a lot of untapped potential of the lucrative export business this even as the seeds demand increases  globally.

According to United states market based research report known as Hexa Research the Global sesame seeds market size is expected to hit $17.77 billion by 2025.

The fueling market demand was associated with its Increased application of the product as an anti-oxidant in various pharmaceutical formulations.

With the world production of Sesame seeds estimated to be 4. 8 million tonnes, ten [10] countries accounts for over 80% of it which includes Myanmar, India, China, Tanzania, Sudan, Ethiopia, Nigeria, Burkina Faso, Uganda, and Niger.

Africa, accounts for over 45 per cent of the crop, and in the last 10 years has become as a fast-growing supplier of sesame seed in the world market.

Of the Sesame seeds global production, over two million …

The UK and European Union are currently in the final stages of negotiation on the terms of their ‘divorce’. The talks have been characterized by a lot of talking, sulking, walk-aways, and renegotiations. It remains to be seen if the process will end in a deal or no deal as to the terms of trade. While the bickering goes on between the ‘parents’, it raises the issue of what will become of the ‘children’ after the break-up.  

The European Union is one of the major trading partners on the African continent. Countries like South Africa are the largest beneficiaries of this trade. Trade arrangements with the UK were initiated within the auspices of the European Union. As the UK sets out on a solo mission, what will become of these deals?  

According to forecasts by the London School of Economics, if the trade deal falls through, the UK would make …

BREXIT trade impacts in Southern Africa

If everything goes according to plan (and that’s a big statement), January 1st shall see the departure of the United Kingdom from the European Union, its single market and customs agreements.

As much as I would like to, it is becoming increasingly hard to believe that the parties will conclude a trade deal in time for the official divorce date. I am sceptical of a “hard” BREXIT as I believe that some sort of policy extension will remain in place for quite some time; anything else would be economic madness and given the current pandemic no politician would allow that to happen. (I know what you might be thinking but, luckily, that kind of stupid is currently reserved for leaders across the Atlantic).

The EU is South Africa’s largest trade partner while South Africa has long and in-depth trade relations with the United Kingdom. …

Agribusinesses in the EAC member states are expected to benefit from greater business opportunities in both the East African and European markets.…