Browsing: Infrastructure Development

• Angola has become Africa Trade Insurance Agency’s (ATI) 21^st member state by paying $25 million in capital subscription fees. 
• ATI’s gross exposure in Angola currently stands at $467 million.
• The membership was funded the Angolan National Treasury and proceeds from the landmark BITA water project. 

Oil-rich Angola has become the 21st African member state joining pan-African insurer, Africa Trade Insurance Agency (ATI) after paying $25 million in subscription fees. The deal will also see Angola become first Lusophone member country in the underwriter.

ATI was established in 2001 by seven Comesa countries and with technical and financial backing of the World Bank. The agency’s core mandate is to provide insurance against political and commercial risks. This is considered necessary in order to attract foreign direct investments across member states. 

Luanda’s membership was funded by the Angolan National Treasury resources and proceeds from the landmark BITA water project. BITA …

Therefore, investing in pro-poor development projects is one of the best ways to address poverty and the cost of living in Kenya. Economic empowerment of the various groups can improve families’ lives and address the country’s ever-rising poverty levels. Kenya desperately needs a solution to poverty and the cost of living. Therefore, actualizing socio-economic development could prove a viable approach.…

• South Africa is set to host Africa’s Green Economy Summit starting February 22, 2023, in Cape Town.  
• The summit is part of the E-Fest Cape Town that will culminate in the Formula E 2023 Cape Town E-Prix race in the same week on Saturday, 25 February 2023.
• Africa’s Green Economy Summit will bring together stakeholders deliberating investment prospects in the green economy. 

Cape Town is ready to host Africa’s Green Economy Summit that connects global capital and green economy projects starting February 22 to February 25, 2023.  

The summit is part of the E-Fest Cape Town that will culminate in the Formula E 2023 Cape Town E-Prix race in the same week on Saturday, 25 February 2023.

Speaking ahead of the conference, Western Cape Premier Alan Winde said there is huge potential in the Western Cape’s green economy.

 “The economy is bristling with opportunity even in the face of the …

Infrastructure development continues to be a vital driver of foreign direct investment (FDI) since logistics are so necessary for global business development, mainly e-commerce, which is now a significant generator of income and jobs at home and abroad.…

When talking about bilateral ties, the most common complaints are inadequate support systems – both from the state and financial institutions. Russian NGOs are also pushing for a diverse set of initiatives aimed at enhancing ties.
The Coordination Committee for Economic Cooperation with African countries, a business and policy NGO, established as far back as 2009, proposes that funds be availed to support Russian business and investment in Africa.
Senator Igor Morozov, Member of the Committee for Economy Policy of the Federation Council (Senate) and Chairman of the Coordination Committee on Economic Cooperation with Africa observes that conditions that are opening up for Russian business today are not the same as those for businessmen from France, the European Union, India or China. …

African countries cannot leapfrog their way into industrialization. Yes, there was a telecommunications jump largely bypassing landlines to mobile phones in the early 2000s, but internet penetration is still low at 36%. Other sectors of many African economies are stagnating. For instance, electricity is a foundational requirement for industry, manufacturing enterprises, for doing business, for running hospitals, schools, and for improving the quality of life at home. Yet over 600 million Africans still lack access to reliable and affordable electricity. This further depresses business productivity and generating their own power increases the operating expenses of companies. More broadly, the objectives of the landmark African Continental Free Trade Area to boost intra-African trade are severely hampered by the limited transportation options to facilitate the affordable and efficient movement of people, goods, and services from one country to another. The lack of adequate water and sanitation presents overwhelming and adverse health …

The Belt and Road Initiative is a China-led strategy to strengthen global trade links across the world, in particular between Asia, Africa and Europe…