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“As the Government of National Unity, we are resolved to intensify our investment drive, encouraging and enabling businesses to invest in productive capacity. These investments will lead to increased employment creation for unemployed South Africans especially for young people. We will drive growth in labour-intensive sectors such as services, agriculture, green manufacturing and tourism.
“To create more jobs for South Africans, we will focus on processing our minerals so that we export finished products rather than raw commodities. We will pursue a smart industrial policy that focuses on the competitiveness of our economy, and that incentivises businesses to expand our exports and create jobs. We will continue to work with stakeholders to develop and implement Master Plans to grow important industries, increase investment, create jobs and foster transformation.
“We see great potential for growth beyond our borders. As we strengthen economic diplomacy with our largest trading partners and potential trading partners, we will prioritise the implementation of the African Continental Free Trade Area to increase our exports to the rest of the continent. We will do this as part of our foreign policy approach, which promotes peace, security, democracy and development across Africa and advances a more just and inclusive world order.”
Agri SA welcomes agri budget, but suggests more accountability with grants (Engineering News)
Industry body Agri SA welcomes Agriculture Minister John Steenhuisen’s budget allocation dedicated to strengthening the agriculture sector, particularly through supporting smallholder farmers and boosting exports. Agri SA CEO Johann Kotzé says enhancing biosecurity measures, as committed to by Steenhuisen, also bode well for the sector.
He notes, however, that there are areas for enhancement, including ensuring accountability in grant allocation, improving extension services, modernising legislation and enhancing interdepartmental collaboration. Kotzé explains that the allocation of R1.7-billion to support more than 6 000 smallholder farmers across the country is a commendable effort and should create about 3 000 jobs and encourage rural development.
“The budget underscores the robust growth in agricultural exports, which achieved an increase of 5% in dollar terms and 12% in rand terms over the past five years. “The opening of new markets for avocados to Japan, China and India, as well as fresh beef and lamb to Iran, exemplifies the proactive approach towards expanding South Africa’s agriculture footprint globally,” Agri SA states.
South Africa to lay out carbon market regulation proposals (Moneyweb)
South Africa’s National Treasury plans to lay out its proposals for how to regulate carbon markets in the country in the next few months. The government department said it plans to publish a consultation paper on the industry around the time it presents its Medium Term Budget Policy Statement in October.
While African countries from Zimbabwe to Ghana have been rushing to regulate the production and trade in carbon credits, which can be sold to companies or countries to compensate for their emissions of climate-warming gases, to garner more income for the governments, South Africa is both a producer and a consumer of the offsets.
Even though South Africa has the potential to produce the credits from its renewable-energy activities and the restoration of carbon-absorbing ecosystems it’s the world’s 15th-biggest producer of greenhouse gases. The bulk of those emissions are due to the reliance on coal to produce electricity and petrochemicals from plants operated by companies including Eskom and Sasol. It has imposed a carbon tax on emissions that will gradually become more punitive.
FG unveils roadmap for Africa’s digital trade revolution under AfCFTA (Vanguard)
The Federal Government on Friday unveiled a comprehensive strategy to lead Africa’s digital trade revolution within the framework of the African Continental Free Trade Agreement (AfCFTA). The strategy is part of the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration to harness trade as a catalyst for economic growth and continental cohesion in line with AfCFTA objectives. To this effect, Vice President Kashim Shettima said Nigeria is in a unique position to spearhead the continent’s technological transformation.
He made the observation while delivering the keynote address during a Stakeholders Summit with the theme, “Digital Trade in Africa: The Renewed Hope Strategy,” held at the Banquet Hall of the Presidential Villa, Abuja. “We are in a vantage position because we are the continent’s largest ICT hub, and as such, we must lead the way to the future of this peculiar wave of the Industrial Revolution.”
AfDB scolds Nigeria over food import policy (Global Trade Review)
The African Development Bank has criticised the Nigerian government’s easing of import taxes for staple agricultural goods such as wheat and maize, warning the move will only increase the country’s food security issues in the long term. Nigerian consumers are battling the country’s highest inflation rates for nearly three decades, with food prices in May soaring by over 40% year-on-year.
In a bid to address food security fears, President Bola Tinubu’s government last week issued a 150-day suspension of duties, taxes and tariffs for imports of staple goods such as wheat, maize and brown rice. Nigeria’s agricultural minister Abubakar Kyari said the government would also import 250,000 metric tons of wheat and 250,000 metric tons of maize for local processing. The commodities will be supplied to small-scale processors and millers in Nigeria.
However, the pause on tariffs has been slammed by the president of the African Development Bank (AfDB), Akinwumi Adesina, who warns the measures could “destroy” the country’s agriculture sector.
ICT sector leads in new foreign direct investments in Kenya (Busiiness Daily)
Information and communication technology (ICT) recorded the largest increase in capital investment of Sh27.6 billion from foreigners in 2022, partly reflecting the impact of funding local startups. This saw the stock of foreign direct investment (FDI) liabilities in the ICT sector grow to Sh162.4 billion in the review period from Sh134.8 billion in 2021 according to data from the Kenya National Bureau of Statistics.
Stock of FDI liabilities refers to assets such as loans and equity positions owned by foreigners in Kenya-based entities like startups and listed companies. Total FDI liabilities rose by Sh84 billion to Sh1.1 trillion in the review period when Kenya’s assets abroad increased by Sh62.1 billion to Sh514.9 billion, leaving the country in a debtor position.
The growth in the ICT sector’s share in Kenya’s FDI liability stock points to the increased attractiveness of Kenya’s technology industry. It has been acclaimed as one of Africa’s fastest growing, driven by a predominantly youthful, entrepreneurial, and innovative population.
Kenyan court declines to stop return of bad rice to Zanzibar (The East African)
The Kenyan Court of Appeal has declined to stop the reshipment of condemned rice to Zanzibar, where the consignment originated. Appellate Judges Stephen Kairu, Agnes Murgor, and Kibaya Laibuta also refused to order the refund of the Ksh3.2 million ($24,427) fine imposed on the traders who brought the cargo into the country. The judges rejected an application by the Kenya Revenue Authority (KRA) to stay the execution of a High Court judgment that ordered the refund of the money and the reshipment of the rice.
“In seeking stay orders in this regard, we were not told how declining a stay in respect of the shipping of rice declared unfit for human consumption would render the intended appeal nugatory,” the judges said. “We also bear in mind both counsel’s concurrence that some of the respondents have already left the jurisdiction of the court. As a consequence, the basis for a stay of the acquittal of the respondents has therefore not been met.”
Kenyan businessmen and a politician, Maur Abdalla Bwanamaka, Ali Mohamed, Abdula Hussein Mer, and their firms, Federal Investments Commercial Ltd and Captain Shipping Agency Ltd, faced two charges, in which KRA accused them of falsifying the ship’s manifest declared at the Old Port Customs Station in Mombasa.
Congolese investors exited Kenya market after EAC entry (The East African)
The admission of the Democratic Republic of Congo (DRC) into the East African Community (EAC), which was expected to open up business between the country and other member States, seems to have done the opposite for Congolese investors holding assets in Kenya.
Kenya registered a sharp drop in assets held by Congolese citizens and companies in 2022, just after Kinshasa was admitted into the regional economic community in April of that year, a move that effectively allowed free movement of people, and goods and services into the Central African country.
Latest statistics show that Kenya’s foreign liabilities stock owed to DRC fell by 30 percent in 2022, from Ksh182 billion ($1.4 billion) a year before, to Ksh127 billion ($969 million), even as other EAC citizens increased their investments in Kenya.
Digitalisation in Morocco: strategies, challenges, and future vision (Trade Finance Global)
The government’s commitment to leveraging digital tools for economic development has been evident through a series of strategic programmes and initiatives, including E-Morocco 2010, Morocco Numerik 2013, and Morocco Digital 2020. In 2024, ICC Morocco established a task force, DigiTradeMorocco, to help promote the ongoing efforts to digitalise trade. These programmes aim to gradually build a structured digital ecosystem supporting the nation’s economic ambitions. The Moroccan Digital Development Agency (ADD) has played a pivotal role in these efforts, driving digital transformation across various sectors.
Lahbichi said, “As of today, 60% of the banking transactions in Morocco are digitised. We are waiting for this digital transformation of our local and international trade to help us finance the economy.”
A significant milestone in Morocco’s digital journey has been the establishment of Portnet, a national single window for foreign trade. This system has revolutionised trade operations, offering a unified platform for connecting stakeholders, including port authorities, customs, shipping agents, and freight forwarders. Initially implemented in the Port of Casablanca, Portnet has since been expanded to cover all Moroccan ports, integrating the entire international trade community and dramatically streaming the documentation process for imports and exports.
Ahouzi said, “Now in 2024, we have around 50,000 to 60,000 businesses that are on the platform. They range from foreign traders, shipping agents, freight forwarders, all sorts of actors.” Previously, obtaining the necessary approvals and licenses for foreign trade could take weeks and require multiple copies of documents. Digitalising these processes has reduced this to mere hours, lowering the time and cost of trade operations and allowing Moroccan businesses to be more competitive on a global scale.
Zimbabwe hosts historic investment forum (The Herald)
Zimbabwe will host a historic SADC-Arab Bank for Economic Development in Africa (BADEA) Investment Forum aimed at promoting cooperation between the two bodies, on the margins of the SADC Council of Ministers meeting and the 44th Heads of State and Government Summit next month.
The forum seeks to promote communication and visibility of the established cooperation between SADC and BADEA; serve as a platform for commemorating BADEA’s 50th anniversary since its establishment in November 1973 and showcase financial products of the Bank to SADC Member States. It also aims to exhibit SADC regional priority infrastructure projects to mobilise resources to support the implementation of the RISDP 2020-2030; present key milestones achieved in the context of implementing the SADC regional integration agenda, and notable contributions towards Agenda 2063; and define clear and specific actions that align with the priorities
In a concept note, the SADC Secretariat said the forum was a follow-through on a Memorandum of Understanding (MoU) signed between the two bodies to cooperate in industry, transportation, infrastructure, construction, energy, water, health, trade, agriculture and investment, among other areas.
SADC Regional Parliament a key driver of integration and development (Southern African News Features)
The new SADC Regional Parliament could sit before the end of this year if one more member state ratifies the agreement to amend the SADC Treaty to allow for the transformation process. The transformation of the SADC Parliamentary Forum (SADC PF) into a Regional Parliament was approved by SADC leaders in 2021 and requires ratification by 12 member states. This was discussed at the 55th Plenary Assembly of the SADC PF held in Angola in early July.
According to a SADC PF statement, Summit has approved a roadmap that outlines steps to be undertaken to establish the regional legislature, including the amendment of the SADC Treaty and adoption of the Protocol establishing the regional legislature. This regional parliament can become a key driver of integration and development, bridging the gap between citizens and policy makers.
The ECOWAS Network of Trade Promotion Organizations Holds its 4th Annual General Meeting in Banjul (ECOWAS)
The Gambian Minister of Trade, Industry, Regional Integration and Employment, Baboucarr Ousmaila Joof, said he was convinced that intra-regional trade could create markets, stimulate industrial growth and generate job opportunities for West African citizens. At the opening ceremony of the 4th Annual General Meeting of the Trade Promotion Organizations (TPO) Network of the Economic Community of West African States (Ecowas) this Tuesday, July 16, 2024, in Banjul, Gambia, he called for the regional efforts to boost trade in West Africa. “Our collective efforts to promote trade and investment in the ECOWAS region are essential to achieving sustainable economic growth. By working together, we can create a more integrated and prosperous region, where trade flows freely, business thrives, and our people enjoy a better standard of living,” he said.
The East African Community (EAC) together with the Republics of Kenya and Uganda are in the process of upgrading the Lwakhakha border post on the common border between the two Partner States into a One-Stop Border Post (OSBP) as part of efforts to reduce congestion at the Busia and Malaba OSBPs. The transformation of the Lwakhakha border into an OSBP seeks to streamline customs procedures, reduce clearance times for goods and vehicles, and enhance collaboration between border agencies from both Kenya and Uganda. The upgrade is expected to reduce the traffic from Malaba and Busia OSBPs, boost trade along the Northern Corridor and improve cross-border security.
The initiative is a testament to the commitment of the EAC in fostering and promoting cross-border cooperation between the two countries. By implementing the OSBP concept at the Lwakhakha border, the two countries are set to create a more conducive environment for trade and commerce, ultimately benefiting businesses and communities on both sides of the border.
The meeting of the African Union 6th Mid-Year Coordination Meeting bringing together Regional Economic Communities (RECs), Regional Mechanism (RMs) and member states kicked off on the 18th of July 2024 with the 45th Session of the Executive Council.
As the African Union embarks on the implementation of the second decade its development framework Agenda 2063, H.E. Mohamed Salem Ould Merzoug, Chair of the Executive Council and Minister of Foreign Affairs of the Islamic Republic of Mauritania, underscored the need for the continent to collectively redouble its efforts to realize its ambitious goals and pave the way for Africa to become a beacon of peace, stability, mutual prosperity, and good governance.
As the continent continues its push for global financial institutions reforms Hon. Shirley Ayorkor Botchwey, Minister for Foreign Affairs and Regional Integration, restated the commitment of H.E. Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana and the African Union Champion for the establishment of the African Union Financial Institutions- that is the African Central Bank (ACB), the African Monetary Fund (AMF), the African Investment Bank (AIB) and the Pan-African Stock Exchange (PASE), to advocate for the promotion of economic integration and development across the continent. She added, “the strengthening of these institutions will collectively enhance economic stability, promote sustainable development and facilitate greater economic integration among AU Member States.”
See also the Statement by Claver Gatete at the 45th Ordinary Session of the Executive Council
Washington to host African Trade ministers for Agoa next week (The East African)
US President Joe Biden’s administration will host trade ministers from developing countries in Washington DC next week to discuss plans to extend the African Growth and Opportunity Act (Agoa) until 2041.Ambassador Katherine Tai, United States Trade Representative, announced that her country will host the 21st US-Sub-Saharan Africa Trade and Economic Cooperation Forum (Agoa Forum) in Washington DC from July 24 to 26.
The ministerial programme will feature plenary sessions on the present and future of Agoa and US-Africa trade and investment cooperation, as well as breakout sessions on a variety of topics. The Agoa Forum will bring together the governments of the United States and Agoa-eligible countries, as well as representatives of key regional economic organisations, civil society, labour and the private sector.
“This forum is an opportunity to discuss how we can make the programme more effective, to address today’s challenges and deliver real benefits to more people across the continent. I look forward to welcoming my fellow ministers and guests to Washington,” said Amb Tai.”Agoa has helped to grow Africa’s extraordinary economic potential and has made a difference for many Africans, but we have an opportunity to make it even better.” The theme of this year’s Agoa Forum is “Beyond 2025: Reimagining Agoa for an Inclusive, Sustainable, and Prosperous Tomorrow.”
During his mission to China, UNIDO Director General Gerd Müller, Luo Zhaohui, Chairman of the China International Development Cooperation Agency (CIDCA), and Ethiopian Minister of Industry Melaku Alebel officially inaugurated the China-Africa-UNIDO Centre of Excellence located in Addis Ababa. The centre is a pioneering tripartite initiative, to promote sustainable industrialization, agricultural modernization, and skills development across Africa. The initiative is the first tripartite flagship program of its kind, between Ethiopia, CIDCA and the UN agency.
The Joint Declaration for the Centre of Excellence Programme that was signed on this occasion highlights the ambitions for a long-term development of the programme. The Centre aims to align with strategic frameworks such as the African Union’s Agenda 2063 and Ethiopia’s Ten-Year Development Plan, contributing to the Forum on China-Africa Cooperation and the 2030 Agenda for Sustainable Development. As part of the overall programme, Director General Müller signed agreements with CIDCA for two major projects in Ethiopia which will support mechanized agriculture systems and upgrade the national livestock value chain, improving the agri-business sector and increasing market access in Ethiopia.
IMF to push G20 for plan to lower debt costs (The Star)
The International Monetary Fund (IMF) is seeking to rally Group of 20 (G20) nations around a new effort to help poor countries reduce debt burdens, avoid defaults and stabilise their economies. While the plan is at an early stage, it could encompass re-profiling of existing loans, debt swaps, and credit guarantees that would help lower costs, Ceyla Pazarbasioglu – head of the fund’s powerful Strategy, Policy and Review Department – told reporters at a briefing in Washington on Wednesday.
The broad idea is to provide countries “a menu of options and we can decide jointly with them what suits them”, she said. “One size doesn’t fit all.” The IMF push comes as several emerging and developing countries, particularly in Africa and South Asia, continue to struggle with debt piles built up before the pandemic and exacerbated in the last couple of years by steeper borrowing costs.
The existing G20 mechanism known as the Common Framework aims to deal with the aftermath of defaults, rather than ward them off. Debt held by 30 emerging economies tracked by the International Institute of Finance totalled US$28.4 trillion in the first quarter of this year, up from about US$11 trillion in the same period of 2014. Some estimates put the annual service costs for poor countries at more than US$400 billion.
As the world grapples with existential climate change threats, initiatives like Article 6.2 of the pdf Paris Agreement (4.34 MB) offer hope by paving the way for collective action towards a greener future. The Paris Agreement, adopted in 2015, stands as a pivotal global framework aimed at curbing greenhouse gas emissions and limiting global temperature rise to well below 2 degrees Celsius above pre-industrial levels, with efforts to limit the increase to 1.5 degrees Celsius. It requires the increasingly progressive submission of National Determined Contributions which commit each country to specific mitigation targets.
While the bulk of these climate pledges are implemented within national boundaries, Article 6 offers countries three alternative modalities of increasing the ambition of NDCs through overseas emissions reductions. Among them, the one with the most progress is Article 6.2, which allows countries to buy and sell Internationally Transmitted Mitigation Outcomes (ITMOs). This instrument operates based on the two core principles of ‘environmental integrity’ and ‘sustainable development’ to ensure that mitigation outcomes genuinely contribute to ‘real’ emission reductions such as enhancing agricultural productivity, creating jobs, improving health, providing clean water while promoting developmental co-benefits.
Ghana is an early mover in Article 6.2 implementation, having committed to reducing up to 64 MtCO2e by 2030. This effort involves three main components. First, Ghana has developed the necessary institutional infrastructure, including the Carbon Strategy and the various entities responsible for its implementation. Second, Ghana has enacted bilateral climate change agreements with various countries, with Switzerland being its closest partner in this endeavor. Finally, Ghana has designed and implemented various ITMO projects, with the promotion of climate-smart rice cultivation having achieved the most progress to-date.
GCA Partners with the African Development Bank to Strengthen Climate Resilience in South Sudan’s Agricultural Sector (Global Center on Adaptation)
The Global Center on Adaptation (GCA) announced today a partnership with the African Development Bank on the South Sudan Climate Resilient Food Security and Agricultural Transformation Project (CRAFT). This landmark initiative aims to bolster agricultural productivity, enhance food security, and foster economic resilience in South Sudan through innovative climate adaptation strategies. Funded mainly by the African Development Bank, the project is a five-year initiative dedicated to transforming South Sudan’s agricultural sector. The project addresses the critical impacts of climate change that have severely hindered agricultural production and livelihoods in the region.
Professor Patrick V. Verkooijen, CEO of GCA, highlighted the significance of this collaboration stating “Our partnership with the African Development Bank under the Africa Adaptation Acceleration Program (AAAP) is a pivotal step in transforming South Sudan’s agricultural landscape. By engaging with the Technology for African Agricultural Transformation (TAAT) and the CGIAR system to introduce climate-smart technologies and supporting resilient agricultural practices, we are not only enhancing food security but also empowering local communities, especially women and youth, to build a sustainable and prosperous future despite the challenges posed by climate change.”
The project will benefit smallholder farmers, women, and youth by fostering equitable development and enhancing resilience in one of the world’s most climate-vulnerable regions. This collaboration underscores GCA’s dedication to promoting global adaptation solutions and ensuring that vulnerable communities receive the support they need.
Dubai plans to double size of its market, looks to become ‘largest’ fresh food logistics hub (Produce Business UK)
The city of Dubai plans to establish “the world’s largest” logistics center for fresh food and food products, marking a significant step in diversifying its economy and enhancing investment opportunities, Gulf Business reports. A memorandum of understanding (MoU) to expand the current fruit and vegetable market and double its size was signed between Dubai Municipality and DP World. The development and management of the project will be handled by DP World, which will also connect the facility to global markets. “This expansion and doubling of the current market area will support our economic agenda and create larger commercial and investment opportunities,” Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai said.
A 2020 report by Business Registration & Licensing (BRL) in Dubai revealed that the number of businesses operating in vegetable and fruit trading stood at 2,495, including 557 companies in dried vegetables and fruits. “This sector is witnessing increasing growth in both local markets and exports, indicating immense opportunities that can be leveraged through strategic projects that Dubai continues to develop,” he said. The report added the vegetable and fruit trading sector in Dubai employed 8,799 individuals, predominantly businessmen, with an operational and survival rate of 86 percent.
Brazil presents proposal for global alliance against hunger and poverty at UN’s HLPF (WAM)
A Brazilian delegation participated this week in the High-Level Political Forum (HLPF) on Sustainable Development at the United Nations (UN) in New York, in the USA, and presented a proposal to create a global alliance to combat hunger and poverty. For Brazil’s Ministry of Social Development and Assistance, Family, and Fight Against Hunger, the Global Alliance Against Hunger and Poverty “is one of the country’s main initiatives as chair of the G20 [the group that brings together the world’s 19 largest economies, the European Union, and the African Union].”
Upon assuming the rotating presidency of the G20 in 2023, Brazilian President, Luiz Inácio Lula da Silva, announced three main pillars for his leadership of the international body: the fight against hunger, poverty, and inequality; the three dimensions of sustainable development (economic, social, and environmental); and the reform of global governance. Since then, the G20 Task Force, responsible for designing the Global Alliance Against Hunger and Poverty, has been working on composing a series of public policies that will gather all the accumulated expertise over decades, with programs for income transfer, social protection, school feeding, among others, drawing from the experience of various countries and international organisations. According to international reports, prepared for Brazil’s G20 presidency, quoted by Agência Brasil, resources do not reach the neediest in the world and rarely achieve the scale necessary to induce transformational changes.
Ahead of Summit of the Future, countries commit to accelerate their delivery of the Sustainable Development Goals (United Nations Sustainable Development)
As preparations get underway for the Summit of the Future this September, the High-Level Political Forum (HLPF) on Sustainable Development concluded on 17 July 2024 with UN Member States adopting a ministerial declaration aiming to boost multilateral efforts to scale up action to achieve the Sustainable Development Goals (SDGs). The declaration addresses the theme of the 2024 ECOSOC and HLPF on “Reinforcing the 2030 Agenda and eradicating poverty in times of multiple crises: the effective delivery of sustainable, resilient and innovative solutions” and underscores actions for implementing the SDGs under in-depth review during this year’s HLPF.
This year’s Forum sets the stage for the Summit of the Future, taking place from 22 to 23 September, where world leaders will come together to forge a new international consensus on how to deliver a better present, while safeguarding the future. They will adopt the Pact for the Future, which will include a Global Digital Compact and a Declaration on Future Generations as annexes.
Regional Reports
UNIDO presents the Industrial Development Report 2024 at the High-level Political Forum (HLPF) (UNIDO)
The United Nations Industrial Development Organization (UNIDO) presented its Industrial Development Report (IDR) 2024 at the High-level Political Forum (HLPF) on sustainable development in New York. The side event was co-organized with the Permanent Missions of Ethiopia and Austria to the United Nations in New York, serving as co-chairs of the Group of Friends of Inclusive and Sustainable Industrial Development.
The IDR24, titled “Turning Challenges into Sustainable Solutions: The New Era of Industrial Policy”, emphasizes the critical role of industry in driving economic growth, innovation and job creation, and in advancing the Sustainable Development Goals (SDGs). Amid evolving global challenges and mega trends, the report advocates for modern industrial policies that can help guide nations towards achieving inclusive and sustainable development.
Discussions focused on how a new era of SDG-oriented industrial policies can promote innovation (SDG 9), accelerate the green transition (SDG 13), transform food security and agri-food systems (SDG 2), and reduce poverty (SDG 1) by creating job opportunities, supporting sustainable supply chains and expanding markets, particularly in developing countries.
Benin and Sierra Leone formally accept Fisheries Subsidies Agreement, bringing tally to 80 (WTO)
Benin and Sierra Leone deposited their instruments of acceptance of the Agreement on Fisheries Subsidies on 19 July, advancing the tally of formal acceptances to 80. Ambassador Corinne Brunet of Benin and Ambassador Lansana Gberie of Sierra Leone presented the instruments of acceptance to Director-General Ngozi Okonjo-Iweala.
Director-General Okonjo-Iweala said: “I am delighted to receive formal acceptances of the Agreement on Fisheries Subsidies from Benin and Sierra Leone. Their support underlines the importance that they, as least-developed members, place on this Agreement and on global cooperation for upholding ocean sustainability and combatting illegal, unreported and unregulated fishing, to support livelihoods and food security in West Africa and around the world. I hope the remaining WTO members — and we need only 30 more — will quickly follow the leadership of Benin and Sierra Leone, so that this landmark agreement enters into force soon.”
Quick links
Op-Ed: Revitalising the African Union: A Call for Radical Change and Innovative Leadership (Ghana News Agency)
Focus on small-business growth to unlock Africa’s potential (CNBC Africa)
How Euro-African Free Trade Deals Hit African Economies And Stimulate Migration (ISPI)
‘Unified, interconnected global system a bad idea,’ says PM-EAC Sanjeev Sanyal on Microsoft outage (CNBCTV)
IMF Heads To Brazil G20 On Mission To Get Africa’s Debt Under Control (The Africa Report)
New climate fund makes progress on a leader but not on scale (Devex)
