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Browsing: Investment in Africa
- The agreement reaffirms the US commitment to elevating a strong private sector voice in AfCFTA implementation.
- Through exploring these challenges and opportunities in-depth, the U.S.-Africa Leaders Summit seeks to chart new avenues for improved U.S.-Africa cooperation.
- The business forum focuses on growing the commercial partnership between the U.S. and Africa, with priority discussion topics including the U.S.-Africa commitment to trade and investment.
The United States Chamber of Commerce’s U.S.-Africa Business Center (USAfBC) and the African Continental Free Trade Area Secretariat (AfCFTA) on Wednesday signed a Memorandum of Understanding (MoU) to launch a working group to help advance trade and investment between the U.S. and Africa.
The agreement reaffirms the US commitment to elevating a strong private sector voice in AfCFTA implementation.
Scott Eisner, President of the U.S.-Africa Business Center, said coordination between the private sector and the AfCFTA is key to unlocking Africa’s full economic potential.
“As the world’s leading …
- Africa received its highest proportion of private sector investment in infrastructure in 2020
- African Development Bank has revealed that the greater private sector investment came as most governments contended with the Covid-19 pandemic and limited fiscal space
- Private sector investment in Africa’s infrastructure rose to $19 billion in 2020, representing 23 per cent, the highest since 2016
A new finding by the African Development Bank has revealed that the continent of Africa received its highest proportion of private sector investment in infrastructure in 2020.
The bank’s Vice President for the Private Sector, Infrastructure and Industrialization, Solomon Quaynor said the finding sends an important signal to governments and investors.
Quaynor said the greater private sector investment came as most African governments contended with the Covid-19 pandemic, limited fiscal space and high debt-to-GDP ratios.
He noted that private sector investment into Africa’s infrastructure rose to $19 billion in 2020, representing 23 per …
Investment in Africa has become ubiquitous.
The United Nations-sponsored publication African Renewal shares the generally held view that Africa’s time in terms of investment is now. Investment in Africa is indeed sound and should be an integral part of every multinational company’s expansion and growth strategy.
A word of advice is in order, however, to all executives mulling a decision to set up operations and investment in Africa. The continent for all its economic promise requires a circumspect and carefully calculated approach for all stakeholders considering an investment in Africa.
The mistake many multinational corporations make when it comes to investment in Africa is that they mistakenly take the approach that Africa is one homogenous market. This view assumes that if a strategy in one part of Africa is successful then it can be expected to work with the same degree of success in every part of Africa.
The global mining industry for the last 6 years enjoyed rising commodity prices.
Record cash flows have provided mining houses with the ability to grow and invigorate their expansion strategies which in the future could include organic growth with a specific focus on sustainable processes. The mining industry is enjoying a commodity supercycle presently that is reminiscent of the period from 2009 to 2011. Increased commodity prices were the same reason for the supercycle then as they are now.
The global mining industry is central to the economic activities of countries in Sub-Saharan, central and southern Africa. This is why Africa and its countries are critical stakeholders in the global mining industry.
According to research by McKinsey & Company titled: “How to navigate mining’s cash flow conundrum,” a subsequent flurry of mergers and acquisitions activity and project investment resulted in capital expenditure “blow-outs”, bloated cost structures and asset write-downs.…
This week, U.S. Agency for International Development (USAID) Administrator Samantha Power helped to kick off the Prosper Africa Build Together Campaign at the Corporate Council on Africa’s U.S.-Africa Business Summit. As announced by Special Assistant to the President and National Security Council Senior Director for Africa Dana L. Banks and reinforced by Department of Commerce Secretary Gina M. Raimondo, the campaign is a targeted effort to elevate and energize the United States’ commitment to trade and investment with countries across the African continent under the Biden-Harris Administration.
USAID will play a leading role in the Prosper Africa Build Together Campaign, joining 17 U.S. Government agencies—and working hand-in-hand with the private sector, African governments, and multilateral organizations—to bolster trade and investment in key sectors such as clean energy and climate smart solutions, health, and digital technology. Through this next chapter of the Prosper Africa initiative, USAID is committed to driving billions …
During the mid-1990s, the internet revolution gained momentum, with many businesses recognizing that they needed to adopt internet solutions if they were to stay relevant. New companies offering services that were outside what had been the conventional norm became leaders in the global economy. With young tech enthusiasts adopting disruptive ideas, the supply of goods and services was no longer limited to locality. This led to the popularity of online stores, and the birth of companies such as Amazon.
From the humble beginnings of his rented home garage, Jeff Bezos started his online book store, eventually adding more products to the catalogue. To date, Amazon can arguably be said to be one of the leading e-commerce companies in the world, with a recorded market share of over 35% in the United States of America alone.
Africa on the move
Although Africa was viewed as lagging in development for …
Canada, the world’s second largest country and the fastest economy among G7 has set aside $10 million for developing African women, and slated potential investment agreement with Ethiopia.
The $10-million contribution is to the African Union Commission for gender equality and women empowerment.
The Canadian Prime Minister (with his first visit to Ethiopia) spent the first full day of a three-day trip to Addis Ababa meeting with some of the African Union’s heaviest performers in a series of one-on-one on the sidelines of the union’s 33rd sessional meeting in Addis Ababa.
Canada and Ethiopia
According to the Canadian media, Global news, Trudeau said Canada and Ethiopia are about to start negotiating a Foreign Investment Protection Agreement.
Also, the Canadian Trade Minister Mary Ng, who is in Africa with a trade delegation of Canadian companies, wouldn’t say how long those negotiations could take …