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- In an escalation of geopolitical tension, Russia has pulled a power move, ending the Black Sea Gran Initiative. To what extent does this decision threaten food security in Africa?
- Collapse of the deal will drive inflationary pressure on grain prices, especially in countries heavily reliant on imports, experts warn.
- Currently, Africa is facing biting food shortage as inflation fueled by high food and fuel prices grips economies.
The Black Sea Grain Initiative, a deal that allowed the export of Ukrainian agricultural produce especially grains through the Black Sea, has collapsed following the withdrawal of Moscow from the agreement. For those unaware, the Black Sea Gran Initiative, was negotiated by Turkey and the United Nations in July 2022.
The deal, up to Monday July 24th, was allowing ships to carry fertilizer and agricultural products from three Ukrainian ports. It let ships to sail through strictly mapped routes, to avoid mines and …
During a press conference on Wednesday, the company’s Chairman Mehment Coskun stated that the KShs91 billion investment would be used to manufacture six different products.
These products include ceramic and granite tiles, sanitary towels, toilet paper, towel napkins, and iron and aluminium products.
However, according to Coskun, seventy per cent of their output will be destined for the export market in the United States and Europe.…
The level of cooperation that once existed between Africa and Turkey has evolved into the form of strategic alliances. The Republic of Turkey has developed partnerships with African countries in infrastructure, health, trade and investment, rural development, energy, institutional cooperation, agriculture, and small and medium enterprises.
These partnerships were developed on the basis of the “Turkey-Africa Joint Implementation Plan 2015-2019” and in accordance with the Istanbul Declaration of the First Africa-Turkey Cooperation Summit that took place on August 19, 2008.
The approach taken by Turkey incorporates aid for those in need and assistance with economic and social development. This strategy is derived from Turkey’s own history of achieving economic and social growth.…
- The African firm which provides shared transportation services for both intracity and intercity movement acquired the Turkish firm at around US$40 million
- Swvl currently repurposes underutilized, privately owned buses or minivans for different purposes throughout the day
- Swvl said the acquisition of Volt Lines would add an incremental US$4.3 million of annualized revenue to its balance sheet
Egyptian startup Swvl has expanded into Turkey after it recently acquired B2B transportation-as-a service operator Volt Lines.
The African firm which provides shared transportation services for both intracity and intercity movement acquired the Turkish firm at around US$40 million.
The acquisition now gives Swvl access to Volt Line’s tech as well as over 110 corporate client contracts.
Swvl currently repurposes underutilized, privately owned buses or minivans for different purposes throughout the day.
Some of these include shuttling intercity commuters along fixed routes, providing rides between cities and driving corporate employees to work …
Turkish engagement in Africa is expanding rapidly, extending beyond economic outreach to encompass business, aid, diplomacy, culture and military support.
The rapid growing Turkish presence on the continent has been primary conceived by Recep Tayyip Erdogan, Turkey’s president, who has sought to remodel Turkey as an “Afro-Eurasian state”; a model for the Islamic world and an alternative to the West, which, in his mind, has surrendered its moral authority.
What began with economic outreach, experts say, has progressed into a complex Africa policy encompassing business, aid, diplomacy, culture and military support.
Today, Turkish fingerprints are all over Africa, from the Kigali Arena in Rwanda, East Africa’s biggest stadium, built by a Turkish construction firm, to an Olympic swimming pool in Coastal Senegal, a colossal mosque in Djibouti, Turkish military hardware on Libya’s battlefields, A military base in Somalia. And in arid Niger, a gateway to the Sahara desert, and a …